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Report on Electrification and Energy Future Identifies opportunities to grow Ontario’s economy

Todd Smith, Minister of Energy, released the following statement on Friday, January 19th, 2024:

“Access to reliable, affordable and clean energy continues to be a key driver for Ontario’s economic growth and electrification. Over the past six years, our government has laid the groundwork with a pragmatic and long-term view to meeting Ontario’s energy needs through to 2050. Most recently, in July 2023, I launched Powering Ontario’s Growth, which included Ontario’s first large-scale nuclear build in a generation, expanded energy efficiency programs and more competitive procurements to meet Ontario’s growing electricity needs.

However, electricity is just one part of Ontario’s diverse energy mix. That’s why in April 2022, I established the Electrification and Energy Transition Panel to advise the government on how we can continue to leverage Ontario’s clean grid and innovative energy sector to power Ontario’s growing economy and population, especially as we pursue ambitious goals like building 1.5 million homes by 2031.

The panel’s final report, Ontario’s Clean Energy Opportunity, builds on our government’s Powering Ontario’s Growth plan and provides valuable insights and recommendations for future long-term integrated planning. It also outlines the incredible opportunity Ontario has to leverage our clean energy advantage to continue to compete for and land new jobs and investments. I am particularly pleased to see that the panel shares our government’s view that natural gas will continue to be an important part of Ontario’s energy mix as we implement our pragmatic plan to invest in and bring online more clean nuclear energy. Unlike the previous Liberal government, which saddled families with sky-high hydro bills, our government is taking a thoughtful approach that avoids energy insecurity and keeps costs down for people and businesses.

Moving forward, I will be working with leaders from Ontario’s energy sector to carefully review the report’s recommendations and advice. I look forward to announcing our next steps towards an integrated energy planning process later this year.

My sincere thanks to Mr. David Collie for chairing the panel and to Dr. Monica Gattinger and Chief Emerita Emily Whetung for sharing their thoughtful insights and expertise. I would also like to thank the more than 200 Indigenous partners and communities, stakeholders, government departments and agencies and members of the public who provided input to the panel’s work.”

Powering Ontario’s Growth outlines the actions the province is taking to meet electricity demand over the long-term, including:

  • Nuclear Energy – Advancing reliable, affordable and clean nuclear power through pre-development work at Bruce Power and three additional small modular reactors at Darlington
  • Competitive Procurements – Acquiring 4,000 MW of storage and natural gas generation and launching more competitive procurements for non-emitting electricity resources including wind, solar, hydroelectric, batteries and biogas.
  • New Transmission Infrastructure – Designating and prioritizing transmissions lines in Southwestern and Northeastern Ontario that will power job creators including EV and EV battery manufacturing and clean steel production.
  • Keeping Costs Down – Reducing demand through the expansion of Ontario’s energy efficiency programs.
  • Planning for Future Transmission – Directing IESO to report back to the Minister with transmission options to address system bottlenecks between Toronto and northern Ontario, and into downtown Toronto, to enable growth.
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