This article originally appeared in the Financial Post. Below is an excerpt from the article.
By Philip Cross, July 5, 2024
In its monthly update on energy trends, Statistics Canada reported this week that this year, for the first time ever, Canada has become a net importer of electricity. The switchover in our electricity trade balance reveals the shortcomings of an energy strategy that now emphasizes decarbonization over energy security, leaving customers vulnerable to supply shortfalls and higher prices.
Traditionally, Canada has generated surplus electricity that it has exported to the U.S. But in April total electricity generation was down 6.9 per cent from a year ago, continuing a trend that began earlier this year. The decline is the result of droughts across much of the country that have curtailed hydroelectric generation as well as planned maintenance at nuclear stations.
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