In reviewing the revised IRP, we noted that BC Hydro had updated
its forecasts regarding provincial energy demand over the coming
Shown below is a comparison chart of the annual energy and peak
demand forecasts from the August 2013 IRP as compared to the May
2012 IRP. Note that the comparison periods do not match precisely
because the May 2012 IRP referenced five-year milestones starting
in F2016 and ending on F2032, whereas the August 2013 IRP
references five-year milestones starting in F2017 and ending on
F2033 (e.g. one year later at each five-year milestone). The change
in reference periods arises as the revised IRP is being submitted
one year later and because it is now based on BC Hydro's
December 2012 Load Forecast rather than the December 2011 Load
Forecast that formed the basis for the May 2012 IRP.
Notwithstanding these differing forecast periods (and ignoring
the forecasted impact of proposed liquefied natural gas
("LNG") projects), the August 2013 IRP predicts that BC
Hydro's annual energy and peak capacity demands will be
significantly lower than predicted in the May 2012 IRP. These
predicted decreases in energy and capacity demand become even
greater when revisions to estimated LNG-related demand described in
the August 2013 IRP are taken into account.
While total annual energy demand and total peak capacity demand
are both forecasted to be lower, the general trend of growth in
energy demand and in peak capacity requirement has remained roughly
the same between the May 2012 IRP and the August 2013 IRP. This
reflects the fact that while the 2008 recession and ensuing
economic downturn have depressed energy and peak capacity demand,
BC Hydro expects both annual energy demand and the peak capacity
demand to resume growth generally consistent with the manner
forecasted earlier, albeit at lower levels at each milestone year
due to their lower starting points in the current year.
Table of August 2013 IRP and May 2012 IRP Comparison of Energy
and Peak Demand Forecasts
Canada is a constitutional monarchy, a parliamentary democracy and a federation comprised of ten provinces and three territories. Canada's judiciary is independent of the legislative and executive branches of Government.
The Government of Alberta recently announced a number of policy changes that will impact the Alberta Electricity Market, composed of its generators, transmitters, distributors, retailers, electricity consumers and wholesale electricity market.
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