A clean, reliable and affordable electricity grid is key to building a strong, clean economy and a competitive advantage that makes Canada an attractive place for businesses from around the world to invest. The federal government is building on Canada's advantages to deliver affordable power to Canadians, grow our economy and fight climate change.
Today, the Honourable Jonathan Wilkinson, Minister of Natural Resources, launched the Canada Electricity Advisory Council, an independent body of 19 experts who will provide the Government of Canada with advice on actions needed to achieve our 2035 and 2050 net-zero emissions goals as they pertain to electricity.
The Electricity Council will provide advice to the Minister of Natural Resources that could help shape the significant electricity sector investments announced in Budget 2023. These investments include a 15 percent tax credit for non-emitting electricity generation, $20 billion in low-cost financing from the Canada Infrastructure Bank and targeted funding where needed, including via NRCan's Smart Renewables and Electrification Pathways program.
The Electricity Council will provide advice to the Minister of Natural Resources to accelerate investment, and promote sustainable, affordable and reliable electricity systems. The Council's work will cover both the reduction of emissions in the electricity sector needed to achieve net-zero by 2035 and the rapid growth of electricity generation needed to power a net-zero-emissions economy in 2050. The Council will work in conjunction with other bodies advising the Government of Canada on climate and energy-related matters, such as the Net-Zero Advisory Body. The Electricity Council members represent a diverse range of commercial, policy, technical and governance experience and expertise, and will be chaired by Philippe Dunsky.
Recognizing the jurisdictional role of provinces and territories in decision-making for the electricity sector, the Electricity Council will draw on work done at the provincial and territorial level, as well as by utilities and Indigenous partners.
At the conclusion of its one-year term, the Electricity Council will prepare and deliver a report outlining its analysis and recommendations to the Minister.
