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Report
Canada Power - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
Market Report I 2025-07-01 I 95 Pages I Mordor Intelligence
Canada Power Market Analysis
The Canada Power Market size in terms of installed base is expected to grow from 158.34 gigawatt in 2025 to 189 gigawatt by 2030, at a CAGR of 3.60% during the forecast period (2025-2030).
This expansion is fueled by federal and provincial decarbonization policies, accelerated industrial electrification, and growing cross-border electricity trade that positions the country as a clean-energy hub for North America. Capacity additions concentrate on hydro refurbishment, large-scale wind procurement, and first-wave small modular reactors, while utility-scale storage deployments underpin grid reliability. Provincial demand patterns diverge sharply: Quebec optimizes hydro assets, Alberta pivots from coal to renewables plus gas peakers, and Ontario readies for steep load growth anchored by data centers and electric vehicles. Indigenous-led partnerships are altering project ownership structures, and transmission investment knits provincial grids into a more integrated continental system.
Canada Power Market Trends and Insights
Government Investment in Clean Energy and Net-Zero Carbon Mandate
Federal and provincial spending of more than CAD 40 billion annually has eliminated the historic policy misalignment that once slowed project approvals. The Clean Electricity Regulations' extension of the net-zero grid target to 2050 grants utilities flexibility without diluting ambition, unlocking long-horizon capital flows. Quebec's Bill 69 now lets Hydro-Quebec negotiate bilateral deals and sell to private buyers, while Ontario's streamlined licensing enabled a record-fast approval for the Darlington SMR. The cumulative effect is a coordinated spending surge that accelerates demand beyond the sum of individual initiatives.
Rapid Retirement of Coal-Fired Capacity in Alberta & Saskatchewan Driving Replacement Demand
Alberta phased out coal in 2024, removing 6,000 MW and forcing immediate investment in grid-forming inverters, gas peakers, and storage. Saskatchewan is following a diversified path, adding SMRs and renewables while retiring coal. Consolidation, such as TransAlta's Heartland Generation purchase, bundles expertise and capital to rebuild generation stacks under tighter emissions rules.
Long Lead-time for Large Hydro and Nuclear Project Approvals
Streamlined rules target three-year nuclear reviews, yet the Bruce C expansion still navigates a multi-year impact assessment. Hydro projects now face amplified Indigenous consultation and climate-induced water-risk assessments. These overlapping requirements stretch timelines, inflate carrying costs, and nudge planners toward smaller, faster-to-build assets.
Other drivers and restraints analyzed in the detailed report include:
Hydroelectric Infrastructure Refurbishment Programs led by Quebec & British Columbia / Electrification of Oil-Sands Operations and Mining Rigs / Transmission Bottlenecks in Remote Indigenous Territories /
For complete list of drivers and restraints, kindly check the Table Of Contents.
Segment Analysis
Renewables supplied 81% of installed capacity and captured the largest Canadian power market share in 2024. Hydroelectric upgrades raised effective output, while Quebec's and British Columbia's refurbishments extended asset life without new dams. Utility-scale wind accelerated; Quebec alone contracted 1,550 MW in early 2024 and targets 10,000 MW by 2035. Solar is starting from a small base but is positioned to add 3,000 MW in Quebec under fresh incentives. Battery storage, led by Ontario's 2,500 MW pipeline, now underpins grid stability, replacing inertia once provided by coal.
Future growth keeps renewables at the front, advancing at a 5.2% CAGR through 2030. The Canadian power market size for wind and solar combined is set to expand by more than 45 GW over the outlook as SMRs and gas peakers fill flexibility gaps. Nuclear output remains flat until the first SMRs enter service after 2032. Gas operates primarily as a transition fuel, with Alberta adding quick-start units to firm renewables. Coal remains negligible, confined to emergency roles. AI-driven forecasting tools curb curtailment and increase renewable capacity factors, lifting project economics and reinforcing investor appetite.
The Canada Power Market Report is Segmented by Power Generation Source (Renewables, Natural Gas, Nuclear, Coal, Oil, and Other Sources), Transmission and Distribution (Qualitative Analysis Only), and End User (Residential, Commercial and Industrial, and Utilities). The Market Size and Forecasts are Provided in Terms of Installed Capacity (GW).
List of Companies Covered in this Report:
Hydro-Quebec / Ontario Power Generation / TC Energy Corporation / Brookfield Renewable Partners / TransAlta Corporation / Enbridge Inc. / AltaLink LP / ATCO Ltd. / Hydro One Ltd. / Capital Power Corp. / Emera Inc. / Northland Power Inc. / Boralex Inc. / Innergex Renewable Energy / Canadian Utilities Ltd. / SaskPower / Manitoba Hydro / FortisBC / Nova Scotia Power / ENMAX Corp. /
Additional Benefits:
The market estimate (ME) sheet in Excel format /
3 months of analyst support /
1 Introduction
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Landscape
4.1 Market Overview
4.2 Market Drivers
4.2.1 Government Investment in Clean Energy and Net-Zero Carbon Mandate
4.2.2 Rapid Retirement of Coal-Fired Capacity in Alberta & Saskatchewan Driving Replacement Demand
4.2.3 Hydroelectric Infrastructure Refurbishment Programs led by Quebec & British Columbia
4.2.4 Electrification of Oil-Sands Operations and Mining Rigs
4.2.5 Rising Cross-border Power Trade with U.S. Northeast Reinforcing Grid Expansion
4.2.6 Utility-Scale Storage Integration within Provincial ISOs
4.3 Market Restraints
4.3.1 Long Lead-time for Large Hydro and Nuclear Project Approvals
4.3.2 Transmission Bottlenecks in Remote Indigenous Territories
4.3.3 Volatile Natural-Gas Prices Affecting Gas-Fired Plant Competitiveness
4.3.4 Rising Community Opposition to On-shore Wind Farms in Atlantic Canada
4.4 Supply-Chain Analysis
4.5 Regulatory Outlook
4.6 Technological Outlook
4.7 Porter's Five Forces
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Suppliers
4.7.3 Bargaining Power of Buyers
4.7.4 Threat of Substitutes
4.7.5 Competitive Rivalry
4.8 PESTLE Analysis
5 Market Size & Growth Forecasts
5.1 By Power Generation Source
5.1.1 Renewables (Hydro, Wind, Solar PV, Bioenergy and Geothermal)
5.1.2 Natural Gas
5.1.3 Nuclear
5.1.4 Coal
5.1.5 Oil
5.1.6 Other Sources (Battery Storage, Hydrogen)
5.2 Transmission & Distribution (Qualitative analysis only)
5.2.1 By Transmission Voltage
5.2.1.1 Extra-High Voltage (?345 kV)
5.2.1.2 High Voltage (115 to 230 kV)
5.2.1.3 Medium Voltage (?69 kV)
5.2.2 By Ownership
5.2.2.1 Provincial Crown Corporations
5.2.2.2 Investor-Owned Utilities
5.2.2.3 Municipal & Co-operative Utilities
5.2.3 Grid Infrastructure Component
5.2.3.1 Substations
5.2.3.2 Overhead Lines
5.2.3.3 Underground Cables
5.2.3.4 Smart Grid and Advanced Metering
5.3 End User
5.3.1 Residential
5.3.2 Commercial and Industrial
5.3.3 Utilities
6 Competitive Landscape
6.1 Market Concentration
6.2 Strategic Moves (M&A, Partnerships, PPAs)
6.3 Market Share Analysis (Market Rank/Share for key companies)
6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Products & Services, and Recent Developments)
6.4.1 Hydro-Quebec
6.4.2 Ontario Power Generation
6.4.3 TC Energy Corporation
6.4.4 Brookfield Renewable Partners
6.4.5 TransAlta Corporation
6.4.6 Enbridge Inc.
6.4.7 AltaLink LP
6.4.8 ATCO Ltd.
6.4.9 Hydro One Ltd.
6.4.10 Capital Power Corp.
6.4.11 Emera Inc.
6.4.12 Northland Power Inc.
6.4.13 Boralex Inc.
6.4.14 Innergex Renewable Energy
6.4.15 Canadian Utilities Ltd.
6.4.16 SaskPower
6.4.17 Manitoba Hydro
6.4.18 FortisBC
6.4.19 Nova Scotia Power
6.4.20 ENMAX Corp.
7 Market Opportunities & Future Outlook
7.1 White-Space & Unmet-Need Assessment
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