The National Energy Board (NEB) has released Canadian Energy Dynamics: Highlights of 2015. This report provides insight, statistics and regional descriptions that frame the key developments in Canada’s energy markets in 2015.
Canada’s energy sector
Dynamic changes in supply, demand and infrastructure continually shape Canada’s energy sector. 2015 saw a six-year low in crude oil prices, with West Texas Intermediate (WTI) ending the year around CAN$35 per barrel. Natural gas prices also remained low in 2015.
Canadian exports of electricity reached a record high of 58 terawatt hours in 2015 due to new supply and lower than expected domestic demand. In addition, non-hydro renewable capacity continued to grow in 2015, with solar capacity expanding by 11% and wind capacity growing by 8%; however, annual additions of non-hydro renewable capacity slowed considerably in 2015.
The NEB actively monitors energy market changes and produces independent, fact-based energy information. The findings and analyses presented in Canadian Energy Dynamics are one part of the NEB’s energy information programme and its continued efforts to promote energy knowledge and dialogue in Canada.
- The price of WTI crude oil declined 48% in 2015 from 2014, ending the year at a six-year low of CAN$35 per bbl.
- The Montney region of northeast B.C. now produces a quarter of the natural gas produced in the WCSB.
- Canadian electricity exports hit a record high of 58 terawatt hours.
- Non-hydro renewable capacity continued to grow in 2015 with solar capacity expanding by 11% and wind capacity growing by 8%.
Comments from NEB
“We know that Canadians want to be a part of our country’s energy dialogue. Reports such as Canadian Energy Dynamics help shape the conversation by providing Canadians with independent, concise and fact rich information that allows them to better understand energy markets,” stated Peter Watson, Chair and CEO National Energy Board.
Edited from source by Stephanie Roker
Read the article online at: https://www.hydrocarbonengineering.com/refining/15022016/neb-releases-report-on-canadas-energy-markets/