In 2023, the conventional thermal electric power generation at private electric utilities in Canada was observed at a specific level. From 2024 to 2028, the forecasted data shows a steady year-on-year growth in power generation values, with an average Compound Annual Growth Rate (CAGR) over these five years.
Key Trends:
- The growth from 2024 to 2025 is minimal, showing stability with no significant changes.
- A gradual increase is seen through to 2028, reflecting continual but modest expansion in demand or capacity.
Future Trends to Watch:
- Technological advancements in energy efficiency and management could influence thermal power generation rates.
- Environmental regulations may impact future growth, potentially slowing down conventional energy sources in favor of renewables.
