Canada's climate action is driving down greenhouse gas pollution-and that's thanks in large part to the leadership of the electricity sector. Since the 1980s, Canada's total electricity capacity has nearly doubled, while greenhouse gas emissions have been cut in half. Our clean, affordable, and reliable electricity has long been a major competitive advantage and will be the foundation of a strong economy into the future. As Canada's demand for electricity grows, the opportunity to power our communities, our businesses, and our transportation with clean, affordable, and reliable power is a win-win-win-for workers, for affordability, and for the environment.
The Government of Canada is taking a comprehensive, practical, and collaborative approach to building a clean grid in a way that enables continued access to affordable, reliable electricity for all Canadians. Today, Minister Guilbeault presented Canada's finalized Clean Electricity Regulations, which are the result of almost three years of extensive consultations with provinces, territories, Indigenous communities, industry, and other stakeholders and provide the certainty necessary for planning Canada's future electricity grid.
The Regulations limit harmful pollution while ensuring that grid operators have the flexibility to meet rising electricity demand as our population and economy grow. Provinces and territories are responsible for grid management and rates, and demand projections tell us that all jurisdictions will have to make large investments in their electricity systems to support growing demand in the coming decades, even without the Clean Electricity Regulations. The Regulations will ensure that these investments are targeted toward clean, reliable sources, such as renewables and nuclear.
The Clean Electricity Regulations are just one part of a broader federal clean electricity strategy. Called Powering Canada's Future, the strategy combines historic investments and balanced, fair policies to ensure that building more clean, reliable electricity to meet demand is affordable for ratepayers.
Maintaining affordability for homeowners and businesses
Federal analyses find that the Regulations have no impact on electricity rates for the vast majority of Canadians, and in some cases, will even have a slightly positive impact on rates. Independent third-party expert modelling substantiates federal analysis that the Regulations are feasible. To ensure rates are affordable for Canadian families over the coming decade, the federal government is investing $60 billion to support the electricity sector.
The adoption of efficient electric appliances, vehicles, and heat-pumps presents an enormous opportunity for families to save money on their energy bills. In the shift to clean electricity, 84% of households are expected to spend less on their monthly energy costs, even before accounting for the over $60 billion in federal clean electricity incentives. This could lead to $15 billion in total energy-related savings for Canadians by 2035. These savings occur because clean electricity is, in many cases, cheaper than fossil fuels, which are also subject to volatile global markets.
