It was another year of significant developments in Canada's power sector in 2023. B.C. issued its first call for clean energy in over decade, the re-elected United Conservative Party moved quickly to regulate energy in Alberta, and the federal government announced certain clean energy regulations and continued to move forward with clean technology investment tax credits. These events and many others present opportunities and risks for sector players navigating the energy transition and the booming demand for Canadian energy.
To help decision makers effectively execute their strategies this year, McCarthy Tétrault's National Energy Group has released Power Perspectives 2024 (available in English only). This comprehensive annual report reviews and analyzes the key developments that are shaping the energy sector, including policy changes, new case law, regulatory updates, and provincial calls for energy as the global and Canadian economies change. It includes:
- British Columbia regional overview – Coverage of the province's major power developments, including BC Hydro's first call for power since 2008, EPA renewals, the Site C Clean Energy Project, the CleanBC climate action plan, and major LNG projects.
- Alberta regional overview – Early moves by the re-elected United Conservative Party to regulate the energy industry, including a regulatory pause on renewables and transmission policy review, regulatory updates, Alberta Energy Regulator Bulletin updates, and the Alberta Court of Appeals decision on forest fire equipment loss.
- Ontario regional overview – Key developments in procurement, power purchase agreements and ESG, expansion of hydroelectric power, Ontario's low-carbon hydrogen strategy, and energy storage.
- Québec regional overview – Developments in battery supply chains, ongoing renewable energy RFP opportunities, the Hydro-Québec Action Plan 2035, amendments to the Act respecting the Régie de l'énergie, and other trends heading into 2024.
- Atlantic provinces regional overview – Update on marine and tidal power development, hydrogen trends, the Atlantic Loop project, Nova Scotia's 2023 Clean Power Plan, Newfoundland & Labrador's energy transition, and other developments in New Brunswick and Prince Edward Island.
- Environmental law updates – Key developments at the federal and provincial levels in 2023, constitutional challenges to federal environmental oversight, and a look-ahead to 2024.
- Aboriginal law updates – Updates regarding provincial adoption of the UNDRIP, the duty to consult, the Supreme Court of Canada's opinion in Reference re Impact Assessment Act, an Aboriginal rights and title update following key court decisions, and important cases to watch.
- Nuclear developments – Covers federal and provincial updates, Indigenous engagement, and international developments.
- Tax incentives for clean energy – Clean economy investment tax credits, covering those for clean hydrogen; clean technology; clean electricity; carbon capture, utilization, and storage; and clean technology manufacturing; as well as updates on the Alberta Carbon Capture Incentive program.
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