Page 32 - BEC / JULY / 2022

reliability risks in the next four to eight years. THE PWU AND ONTARIO’S

l Achieving Net Zero by 2050 will increase NUCLEAR FUTURE

electricity demand by at least 130%.
l Leveraging electricity, natural gas and hydrogen
Currently, the most important issue to the PWU
synergies can reduce supply needs, but 55 GW of
is the impending capacity shortfall and ensuring
new electricity resource will still be needed by 2050
government leaders and the public are aware of
– four times Ontario’s current nuclear and hydro
the of the need for immediate and substantial
assets.
investments in the sector. “The most effective
l Optimized integrated solutions could enable cost
and popular strategies to reduce emissions result
competitive technology options.
in greater electricity demand, making climate
l Procurement must begin to avoid a supply
targets an important factor in electricity planning,”
shortage in 2030 and maximize emission
says Parnell. “Yet forecasts offer only limited
reductions.
consideration of the impact of climate on the
l Ontario needs a procurement process to optimize
province’s future electricity demand. Furthermore,
supply options and maximize societal benefits.
stated strategies for meeting the forecast supply

32 JULY 2022 | BUSINESS ELITE CANADA