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ARTICLE · 27 MARCH 2024

IESO Releases 2024 Annual Planning Outlook

Aird & Berlis LLP
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On March 19, 2024, the Ontario Independent Electricity System Operator (IESO) released its Annual Planning Outlook (APO) looking at Ontario's electricity system needs for 2025-2050.

CanadaEnergy and Natural Resources
David Stevens
David Stevens
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On March 19, 2024, the Ontario Independent Electricity System Operator (IESO) released its Annual Planning Outlook (APO) looking at Ontario's electricity system needs for 2025-2050. The APO shows that electricity demand is forecast to increase steadily, with an increase of 60% by 2050. The APO indicates that efforts to secure needed additional electricity supply are proceeding well, but that there are large gaps in terms of generation and transmission capacity that will need to be addressed over time.

The key underpinning for the APO is the long-term demand forecast. Consistent with past APOs, the IESO is forecasting that demand will increase by around 2% per year to 2050. Key drivers of the demand increase are said to be economic and population growth, mining and steel industry electrification, and growth in electric vehicle industries. The IESO forecasts that Ontario will move from being a summer-peaking region to a dual-peaking region beginning in 2030, with

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