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Home » Energy Market Update: August 2025

Energy Market Update: August 2025

Alberta

Canada’s Alberta eyes investment in Japan’s refining to boost oil exports, sources say

Canada’s main oil-producing province of Alberta is considering a financial investment in Japan’s refining sector, an attempt to reduce its overwhelming dependence on top trade partner the United States for oil exports. Alberta’s government is in early-stage talks with several Japanese crude oil refiners to explore a joint venture in which it could help fund the construction of a coker unit that would enable one or more Japanese companies to process heavy crude produced in Alberta’s oil sands. Any deal would be unprecedented for Alberta, which has not previously made energy infrastructure investments in foreign countries, but which is keen to increase its oil exports since the opening of last year’s Trans Mountain pipeline expansion, which increased Canada’s capacity to ship oil via the Pacific Coast.

Canada is the world’s fourth-largest oil producer, but its main oil-producing province of Alberta is landlocked, with limited access to tidewater ports. That means the bulk of Canadian oil — about 4 million barrels per day or 90% of its total exports — is sent to the U.S. via pipelines that run north-south. Meanwhile, the Alberta government is keen to increase the province’s oil production and has been lobbying pipeline companies in hopes of enticing a private-sector company to build a new crude oil export conduit to Canada’s northwest coast.

Source: Reuters

Electricity Prices for Alberta

The Alberta power pool price averaged 5.035 cents per kWh in August 2025. This price is 1.916 cents higher than last month’s average of 3.119 cents. The pool price has averaged 4.349 cents per kWh over the last 12 months.

As of September 1, 2025, the forward market was predicting electricity prices for the calendar years of 2025, 2026, 2027, 2028, 2029, 2030, and 2031. These prices are 4.900, 5.103, 6.150, 7.850, 8.130, 8.430, and 8.430 cents per kWh respectively.

Gas Prices for Alberta

Direct Energy’s gas rate for August 2025 was $0.834 per GJ in Alberta. The September 2025 rate has been set at $0.722 per GJ. Alberta gas prices have averaged $1.693 per GJ over the last 12 months.

As of September 1, 2025, the forward market was predicting gas prices for the calendar years of 2025, 2026, 2027, 2028, and 2029. These prices are 1.92, 2.84, 3.00, 2.91, and 2.85 cents per GJ respectively.

 

British Columbia

B.C. invests $35M in clean energy project fund

British Columbia is investing $35 million towards new clean energy projects, through the CleanBC Industry Fund. The fund invests part of B.C.’s industrial carbon pricing system into projects that reduce greenhouse gas emissions from large industrial operations. Businesses are eligible to apply if they have emissions over 10,000 tonnes of carbon dioxide equivalent per year and report their greenhouse gas emissions. The province said since launching in 2019, the fund has committed more than $368 million to 173 projects throughout B.C. It said those projects are expected to reduce more than 14 million tonnes of greenhouse gases over 10 years. The province said the CleanBC Fund has leveraged an average of two dollars in additional investment from industry and other partners for every one dollar invested.

Source: My Cariboo Now

 

Ontario

Government of Canada Invests to Modernize Ontario’s Electricity Grid — Ensuring More Reliable Power for Ontarians

Canada’s energy security and economic strength depend on our ability to scale up clean, reliable and affordable power. That means advancing next-generation solutions like hydrogen, nuclear, renewables, geothermal and biofuels and integrating our electricity systems so that energy can move seamlessly and efficiently across provincial borders. Tim Hodgson, Minister of Energy and Natural Resources, announced over $13 million in federal funding to support five clean energy projects in Ontario that will help modernize existing electricity systems. Funded through the Energy Innovation Program – Smart Grids Demonstration Call for Proposals, these projects will advance clean electricity generation in Ontario and allow customer-owned devices such as solar panels and batteries to access and benefit from electricity markets, by generating and selling energy. This will drive down energy costs for Canadians while ensuring our grids are smarter, more sustainable, more resilient and ready for the economy of the future.

Source:  Government of Canada

 

Saskatchewan

Canada backs 32 MW Indigenous-owned solar project

The Canadian government is putting more than CAD 33 million toward a 32 MW Indigenous-owned solar project in the south-central province of Saskatchewan. The Wicehtowak Solar project, to be located by the province’s capital, Regina, will be built by George Gordon First Nation via Wicehtowak Solar Ltd. Canadian Secretary of State (Rural Development) Buckley Belanger said that the project will “add more clean power to the grid, create long-term jobs and help keep energy costs stable for families and businesses in Saskatchewan.” The government’s investment is part of the Smart Renewables and Electrification Pathways Program, a CAD 4.5 billion federally funded initiative launched in 2021. As of May, this year, the program had supported 71 projects, 43 of them Indigenous-owned.

Source: PV Magazine

 

Manitoba

Green Heat

Manitobans have increasingly been turning to renewable heat sources, often called GREEN HEAT, for heating water and for the heating of buildings and homes. The use of renewable energy sources can displace the need for combustion heating (e.g. using natural gas, oil, propane) or the conditioning of space or water through electric resistance heat. Common Green Heat solutions in Manitoba include: solar thermal or solar heating technologies, drawing energy by collecting the sun’s radiant energy and converting it into thermal energy, often for water and space heating; heat pumps draw renewable energy from the ground, water or air. Integrating Green Heat provides building owners with renewable heating and cooling, and a means to hedge against the risk of volatile fossil fuel prices. Manitoba has taken a leadership role in developing renewable energy sources and this includes renewable energy for heating.

Source: Manitoba

 

New Brunswick

NB Power Reaches 300,000 Smart Meters Installed

NB Power has reached a major milestone in our grid modernization journey—with over 300,000 smart meters installed on homes and businesses across the province. With nearly 80% of the rollout complete, we are in the final stretch of this transformational project, bringing more customers the tools and benefits smart meters provide every day. Customers with smart meters can now: track and manage energy costs with user-friendly online tools; receive faster service with remote connections, disconnections, and meter readings; be better prepared for the future and alternative energy sources like solar panels; support a smarter, more efficient, more reliable grid. An independent Residential Billing and Metering Assessment confirmed that smart meters are both accurate and reliable. The review found no evidence of meters over-reporting electricity use and explained that higher bills experienced this past winter were due to colder temperatures, longer billing cycles, and rate increases—not smart meters. These findings have helped correct misinformation and build confidence in the technology. Smart meters are part of one of the most significant infrastructure upgrades in NB Power’s history.

Source: NB Power

 

Prince Edward Island

PEI government funds projects to support the province’s climate adaptation goals

With the help of provincial funding from the Climate Challenge Fund, Islanders are working on 10 new projects to help combat climate change impacts. The goal of the fund is to empower people of various backgrounds, experiences and expertise, working across sectors throughout the Island, to help meet the province’s net zero and climate adaptation goals. This year’s funding supports the development of a community energy and emission plan for West Prince communities. Another project receiving funding is the Abegweit Renewable Microgrid Feasibility and Preliminary Design project, a critical step toward sustainable energy independence for Abegweit First Nation. The Lennox Island Living Shoreline Pilot will serve as proof of concept for coastal nature-based solutions. Additional projects focus on areas such as sustainable potato storage, climate action engagement for youth and teachers, and a climate change risk assessment for the tourism industry. The fund has supported 87 projects to date across sectors and organization types, including First Nations, municipalities, nonprofit organizations, local businesses and academic institutions in Prince Edward Island.

Source: Top Crop Manager

 

Québec

Quebec announces partnership for wind power development in Eastern Quebec

renewable energy newsThe Legault government announced a partnership with the Mi’gmaq community of Gesgapegiag, the Alliance de l’énergie de l’Est, and Hydro-Québec for wind power development in Eastern Quebec. The partnership represents a potential investment of up to $18 billion. It is estimated that it could generate 6,000 megawatts (MW), which is the amount of electricity used, for example, by the entire island of Montreal. It added that this “partnership is part of the government and Hydro-Québec’s strategy to develop more than 10,000 MW of new wind power capacity by 2035, in collaboration with First Nations and municipalities.” It should be noted that the government and Hydro-Québec want to double electricity production by 2050 in order to decarbonize the province. Similar agreements have been signed in the Bas-Saint-Laurent and Saguenay-Lac-Saint-Jean regions for wind power developments of up to 5,000 MW, which are investments in the order of $15 billion.

Source: CTV News

 

Newfoundland and Labrador

Provincial Government Charging Toward a Cleaner Future with Investment in Ultra-Fast EV Charging

The Government of Newfoundland and Labrador, in partnership with Newfoundland and Labrador Hydro (NL Hydro), is pleased to announce an additional investment of $3.8 million to expand the province’s electric vehicle (EV) charging infrastructure network. NL Hydro has also invested $463,000 to support this expansion. This project will see an additional 10 new Ultra-Fast EV chargers (up to 400 kW) installed in 2026. These will be among the fastest in North America and will be the fastest in Atlantic Canada, capable of charging compatible EVs to up to 80 per cent in as little as 20 minutes. Completion of this project will boost EV charging capacity and bring the total number of public Fast EV chargers to 62, which includes 21 Ultra-Fast EV chargers in locations throughout the province. Transportation accounted for 44 per cent of Newfoundland and Labrador’s greenhouse gas emissions in 2023. Increased EV usage is a direct way to reduce these emissions towards a cleaner future.

Source: Newfoundland and Labrador

 

Nova Scotia

Nova Scotia’s Energy System Operator Faces Challenging 2030 Renewable Energy Target

Nova Scotia’s Energy System Operator Faces Challenging 2030 Renewable Energy Target Nova Scotia’s energy system operator, Johnny Johnston, is working to hit the province’s 2030 renewable energy target of 80%. Johnston notes that the target is ambitious and close, with onshore wind and solar energy expected to drive the transition. Johnston, however, did not discount the possibility of nuclear energy production in Nova Scotia in the future.

Nova Scotia is making significant strides towards its 2030 renewable energy target of 80%. On August 19, 2025, PowerBank Corporation announced that three community solar projects in Nova Scotia received $1.74 million in funding through the Nova Scotia Department of Environment and Climate Changes, managed by the Net Zero Atlantic program. The Nova Scotia Community Solar Program (CSP) aims to add 100 MW of solar generation to the grid, helping to reduce reliance on fossil fuels and mitigate climate change. The program supports the province’s goal of reaching net-zero electricity by 2035.

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Nunavut

NTI prepared to support hydro and ports projects as ‘co-developer’

Nunavut Tunngavik Incorporated (NTI) is prepared to endorse four “nation-building projects” so long as the federal government provides enough benefits to Inuit and allows the land claims organization to act as co-developer. The Kivalliq Hydro-Fibre Link with Manitoba, an Iqaluit hydro project, a Qikiqtarjuaq deep-sea port and the Grays Bay road and port are the projects that NTI listed as having its conditional approval. However, NTI made clear that it wants to co-develop the projects with the federal government. These major initiatives had previously been raised with the Government of Canada in March, during the Arctic Sovereignty and Security Summit, the press release indicates, and NTI is moving the initiatives through the Inuit-Crown Partnership Committee (ICPC). “NTI will work to ensure that each step of implementation in Nunavut is designed and carried out in partnership with Inuit and consistent with the Nunavut Agreement.”

Source: Nunavut News

 

Northwest Territories

Residents want ‘more decisive’ climate action, GNWT says

The NWT government says residents want “more decisive and immediate climate action” as the territory faces an increasing number of extreme weather events. The territory recently released a “what we heard” report summarizing feedback on its draft 2025-29 climate change action plan. Responses were received from 190 students, 44 residents, six non-governmental organizations, two Indigenous governments, one community government, 119 participants at an in-person event and 35 participants at a roundtable event, the report states. The territory said while many comments focused on specific actions in the plan, themes that emerged from the feedback included a need for greater urgency, accountability, clarity and coordination to tackle climate change. As a result, the territory is moving toward a more integrated approach, combining its climate change strategic framework and energy strategy into a single plan. The NWT government said the feedback will help inform its approach to planning, implementing and reporting on actions it takes to address climate change.

Source: Cabin Radio

 

Yukon

Yukon Energy to build thermal power centres to meet growing demand

Yukon Energy plans to add two thermal power centres and a substation to its generation fleet to bolster winter capacity amid what the energy provider describes as surging electricity demand. The two diesel or liquefied natural gas thermal power centres are needed to meet rising winter demand and stabilize the grid, as renewable energy remains limited during colder months and long-term hydro storage solutions are still years away. Yukon Energy estimates the territory will need about 150 megawatts of additional power to meet electricity demand through 2045. Whitehorse uses about 75 per cent of the electricity on Yukon’s grid, most of this demand comes from electric heating systems. The Yukon’s three hydroelectric facilities face seasonal limits, with lower water levels in winter reducing the amount of electricity they can produce. Battery storage can supply power for only a few hours, not the extended periods needed to support winter heating. Long-duration storage solutions, such as pumped-storage systems integrated into hydro facilities, would take 10 to 15 years to implement.

Source: Yukon News