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2022 Annual Planning Outlook

December 15, 2022

Economic growth and electrification are driving electricity use in Ontario higher over the next 20 years. As a result, based on the IESO’s current planning forecasts, demand for electricity is expected to increase almost two per cent annually over the next two decades. This increase in demand, coupled with less available supply, underscores the importance of securing new generation and storage capacity by the mid-2020s. Looking further ahead, more overall energy production will be needed by the end of the decade. This will require a broader range of supply options as well as supporting transmission infrastructure.

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