New Economy Canada and partners are available for interviews on what new national and provincial findings mean for the federal budget, Canada's national electricity strategy, COP31 and Canada's trade opportunities.  

VANCOUVER, BC, Nov. 4, 2026 /CNW/ -- Doubling Canada's electricity supply and doubling the share of energy use that homes, businesses and industry meet with electricity could grow the economy and support more jobs in every province, according to new macroeconomic modelling results.

The analysis was conducted by the Open Insights initiative (a consortium led by University of Victoria researchers) in collaboration with New Economy Canada and the Canadian Chamber of Commerce. The national results show that doubling electricity supply and electrification could add $3.1 trillion in cumulative economic activity between 2026 and 2050 and support 1.6 million additional jobs in 2050, compared with business as usual.

Economic gains in every province

The model compares against business as usual to project cumulative economic gains from 2026 through 2050 and additional jobs in 2050 in all ten provinces.

• Ontario: $1.2T in additional economic activity and 773,767 added jobs.
• Quebec: $888B in additional economic activity and 113,072 added jobs.
• Alberta: $220B in additional economic activity and 237,018 added jobs.
• Saskatchewan: $235B in additional economic activity and 175,676 added jobs.
• B.C.: $219B in additional economic activity and 130,491 added jobs.
• Manitoba: $161B in additional economic activity and 73,055 added jobs.
• Nova Scotia: $118B in additional economic activity and 45,868 added jobs.
• New Brunswick: $50B in additional economic activity and 37,329 added jobs
• Newfoundland & Labrador: $28B in additional economic activity and 11,426 added jobs.
• PEI: $14B in additional economic activity and 8,548 added jobs

For the complete data see the results visualization dashboard, and find the detailed modelling methodology here.

These are economy-wide benefits, extending beyond the electricity sector. Realizing them depends on expanding electricity supply and electrification of homes, businesses, transportation and industry, and mobilizing the investment and skilled workers needed to deliver on both.

Why the findings matter now 

Doubling electricity and electrification in Canada is an economic growth strategy, an energy security strategy, and a competitiveness strategy for the country. With major decisions ahead on Canada's economic, electricity and climate strategies, this new modelling could provide important context on the returns associated with doubling electricity and electrification.   

• Budget 2026: Investments and policies to attract private investments in electricity, electrification and energy efficiency can support economic growth, competitiveness and affordability.
• National electricity strategy and provincial energy planning: The projected gains in every province give federal and provincial governments a shared economic case for coordinating investments in electricity supply and helping homes, businesses and industry use more of that power to meet a growing share of energy needs.
• COP31, trade and the global energy transition: Electrification targets can help grow demand alongside investments in clean power. The growing global demand for electrification technologies could also create new export opportunities for Canadian businesses beyond the gains captured in the modelling.
• Economic and energy sovereignty. Using more domestically generated electricity can strengthen Canada's energy security by reducing exposure to global fuel price swings and support new investment and jobs in Canada.

Available for interviews:

Ian Bruce, President, New Economy Canada
Merran Smith, Executive Board Chair, New Economy Canada
Dr. Madeleine McPherson, Principal Investigator, Open Insights; Associate Professor, University of Victoria
Bryan Detchou, Senior Director, Canadian Chamber of Commerce

Report and findings:
https://neweconomycanada.ca/powering-growth/

New Economy Canada is a non-partisan initiative uniting 70+ companies, labour unions and Indigenous organizations, all committed to accelerating investment in Canada's clean economy. Our partners employ or represent over 720,000 workers. https://neweconomycanada.ca

Open Insights is a collaborative effort between SESIT at the University of Victoria, Energy Modelling Hub, the Energy & Materials Research Group at Simon Fraser University, and Macrocosm Group – each committed to building a more transparent and accessible Canadian modelling ecosystem. Open Insights always publishes all assumptions, input data (when not restricted by other organization's licensing) and model source code open source.

The Canadian Chamber of Commerce is Canada's largest and most activated business network — representing over 400 chambers of commerce and boards of trade and more than 200,000 business of all sizes, from all sectors of the economy and from every part of the country — working to create the conditions for our collective success. The Canadian Chamber of Commerce is the undisputed champion and catalyst for the future of business success. From working with government on economy-friendly policy to providing services that inform commerce and enable trade, we give each of our members more of what they need to succeed: insight into markets, competitors and trends, influence over the decisions and policies that drive business success, and impact on business and economic performance. 

SOURCE New Economy Canada