IESO Releases Updated Demand Forecast
October 17, 2024
A new demand forecast shows that Ontario’s electricity demand is anticipated to grow 75% by 2050 — higher than last year’s 60% forecast — with annual consumption rising from 151 terawatt-hours (TWh) in 2025 to 263 TWh in 2050. The accelerated pace of demand growth is driven by a series of factors, including growth in the industrial sector, ongoing electrification and data centres looking to connect to the grid.
This updated forecast was announced in a media conference with the Minister of Energy and Electrification earlier this week and will be reflected in the upcoming Annual Planning Outlook that is scheduled for release early next year.
For more information about the factors driving demand growth, see the full news release.