Canadians can expect to see energy prices balance supply and demand until 2020, according to the ‘2009 Reference Case Scenario: Canadian Energy Demand and Supply to 2020,’ issued by the National Energy Board (NEB), an independent federal agency that regulates several parts of Canada's energy industry.
Fossil fuels will be the dominant source of energy supply, and there will be a continued shift from conventional oil and gas production to non-conventional sources such as shale and tight gas. However, alternative sources of energy, such as wind, will also continue to grow – albeit from a lower base than conventional sources, says the NEB.
Other highlights of the report include the following:
– continued growth of energy demand, but almost 1% lower than previously projected; and
– shifting production and supply from conventional oil and gas to unconventional and emerging energy sources, including a notable increase in wind capacity.
For more information, visit neb-one.gc.ca.
SOURCE: National Energy Board
