CALGARY, Feb. 12, 2016 /CNW/ – Today, the National Energy Board (NEB) 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.
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 $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 per cent and wind capacity growing by 8 per cent; 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 program and its continued efforts to promote energy knowledge and dialogue in Canada.
- The price of WTI crude oil declined 48 per cent in 2015 from 2014, ending the year at a six-year low of $35/barrel.
- 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 per cent and wind capacity growing by 8 per cent.
“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.”
Chair and CEO National Energy Board
The National Energy Board is an independent federal regulator of several parts of Canada’s energy industry with the safety of Canadians and protection of the environment as its top priority. Its purpose is to regulate pipelines, energy development and trade in the Canadian public interest. For more information on the NEB and its mandate, please visit www.neb-one.gc.ca.
SOURCE National Energy Board