Market Snapshot: Canadian Electricity Export Revenue Rebound Continues in 2014
Release Date: 2015-03-12
In 2014, Canada exported 59.1 terawatt hours of electricity, a six per cent decrease from 2013 when exports were at an all-time high. For the most part, provinces that export large amounts of electricity are those with predominantly hydro-based generation.
Despite smaller export volumes in 2014, gross export revenue increased by 20 per cent. The majority of the revenue increase was recorded in the first quarter of 2014, which coincides with the cold weather in the main export markets and high gas prices. A recent wholesale power price report by the U.S. Energy Information Administration, which compared electricity prices between 2013 and 2014, shows an increase in price at many of the U.S. electricity trading hubs. In 2014, Canadian exporters received $49.94 per megawatt hour compared to $39.30 per megawatt hour in 2013.
Figure Source and Description
Source: National Energy Board (NEB): Commodity Statistics
Description: This bar chart shows annual Canadian electricity exports, imports, net exports, and gross export revenue from 2004 to 2014. In general, Canadian net exports have been steadily growing since 2010 with a small decline in 2014. Gross export revenue started to decline in 2009 and remained relatively flat from 2009 to 2012. However, gross export revenue grew in 2013 and 2014.
Electricity imports declined between 2010 and 2013. However, in 2014, Canada imported 12.8 terawatt hours of electricity, up by 20 per cent from a year earlier. Although British Columbia continues to export large amounts of electricity, the province was a net-importer in both 2013 and 2014. In 2014, electricity imports to British Columbia accounted for 76 per cent of Canadian imports. In addition, compared to 2013, electricity imports to Alberta, Manitoba, and Ontario also increased.
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