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Mark Carney has rolled out yet another plank in his economic strategy, this time pledging to double Canada’s electricity generation by 2050.
The prime minister’s pitch is to spend big on expanding the power grid to provide affordable and reliable electricity to Canadians. The total projected cost is expected to exceed C$1 trillion ($728 billion) — not a misprint — and would aim to lower energy costs for about 70% of households.
It comes at a moment when electricity is becoming a larger political issue in the US, thanks to surging costs. A report found power prices on the largest electric grid in the US jumped 76% in the first quarter due to rampant demand from data centers.
But in the Carney plan, most of the details are being left for another day. The government said it will consult with provinces, territories, Indigenous groups and other stakeholders on how to achieve its target.
As part of the strategy, Ottawa will adjust clean electricity rules brought in by former Prime Minister Justin Trudeau’s government, making it easier for power generators to use natural gas. This was already in the cards: Carney jettisoned the electricity regulations for Alberta as part of last year’s memorandum of understanding he signed with Premier Danielle Smith.
The new policy on power represents the latest rollback of Trudeau-era climate policies, as the government sets its sights on making Canada an “energy superpower.”
The prime minister has been adamant that his government is still committed to cutting greenhouse gas emissions, and is focused on a better system of industrial carbon pricing to do that. But it’s unclear whether the government plans to — or thinks it can achieve — the rather ambitious emissions-reduction target set by Trudeau.
That policy said that by 2030, emissions should be 40% to 45% below 2005 levels. Canada seems very unlikely to meet it. Asked whether his government still intends to hit the goal, Carney said that “we’ll update our climate plans and our emission-reduction targets in due course.”
A few minutes later, another reporter queried whether this means the government is, in fact, changing its targets.
“That’s not what I said,” Carney replied, adding that the government is focused on “practical steps that are going to get results.”
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