Electricity
JANUARY 2025
Electricity Demand and Oversight in Ontario's Hybrid Market
Brandon Schaufele
The policy brief discusses managing risk and uncertainty in energy transitions. It highlights economic, technological, and regulatory uncertainties, emphasizing proactive policies, scenario planning, and risk management strategies. It also suggests government and industry collaboration to foster resilience and innovation while balancing environmental and economic goals.
DECEMBER 2024
The Hidden $1.1 Billion Cost of Electricity in Ontario
Brandon Schaufele
The policy brief compares taxes and electricity rates as funding mechanisms for Ontario’s energy system. It examines economic and social impacts, highlighting affordability, efficiency, and fairness. The report advocates for balanced policies to ensure reliable infrastructure investment while minimizing burdens on consumers and promoting long-term energy sustainability.
NOVEMBER 2024
How Confident Should We be in Ontario's Electricity Demand Forecasts?
Brandon Schaufele
The policy brief analyzes Ontario’s 2025 IESO energy forecast, highlighting rising demand, supply constraints, and grid reliability challenges. It stresses the need for renewable integration, storage solutions, and policy adaptation. Strategic planning is crucial to balancing affordability, reliability, and sustainability for a stable energy future.
JUNE 2024
Corporate Governance Transparency: A Scorecard for Electricity Distribution Utilities in Ontario
Guy Holburn and Semme Regnault
This Report examines the transparency of corporate governance practices of local electricity distribution companies (LDCs) in Ontario, creating a new scorecard that identifies strong and weak performers within the sector.
JUNE 2023
Submission to the Electrification and Energy Transition Panel
Brandon Schaufele, Adam Fremeth, and Brian Rivard
This submission to Ontario's Electrification and Energy Transition Panel proposes planning agencies and planning regulations explicitly acknowledge and adjust for this risk and future uncertainties in decision-making.
OCTOBER 2022
Where's the Cheque? Governance, Ownership, and Dividend Policies of Electric Utilities
Adam Fremeth and Guy Holburn
The Policy Brief documents and analyzes annual dividend payments by all 71 LDCs in Ontario from
2014 to 2019
JULY 2022
Efficiency Analysis in Electricity Rate Design: A Case Study of Alberta’s Bulk and Regional Transmission Tariff
Derek E. H. Olmstead, Brian Rivard, and Mark Zanewick
This Policy Brief discusses the importance of efficiency analysis in the design of regulated electricity rates, through a case study of the Alberta Electric System Operator’s (AESO) proposed Bulk and Regional Transmission Tariff. The AESO is the Independent System Operator (ISO) that operates in the province of Alberta.
JANUARY 2022
Corporate Governance of Government-Owned Utilities: Lessons from EPCOR Utilities Inc.
Guy Holburn and David Hay
Hugh Bolton discusses his experience as Chair and his insights about corporate governance in the municipal utility sector in a conversation with Guy Holburn, Professor at Ivey Business School, and David Hay, Director of EPCOR and of Hydro One. Janice Rennie, the current Chair of EPCOR and a board member from 1996 to 2004, shared her perspective on the early years of EPCOR’s transformation after its incorporation in 1995
Electrification and Investment in Electricity Infrastructure
Guy Holburn, Brian Rivard and Sorena Rahi
Canada’s electricity sector has the potential to play a central role in the country’s transition to a low emission economy and in meeting Paris Agreement emission reduction commitments, due to its significant utilization of zero emission hydroelectric, nuclear and renewable power generation technologies – which rank Canada as having one of the world’s greenest electricity grids.
JUNE 2021
Investment in Canada's Clean Technology Sector
Jiya Hai, Guy Holburn, Sorena Rahi and Brian Rivard
This Policy Brief provides an in-depth assessment of the climate for investment in clean energy technology industries in Canada based on data from an extensive survey of senior energy sector executives conducted by the Ivey Energy Policy and Management Centre at Ivey Business School.
DECEMBER 2020
Energy in Canada: A Statistical Overview
Ramin Alahdad, Jiya Hai, Guy Holburn and Brian Rivard
This Policy Brief is an update of our 2016 Brief with the same title, and offers a statistical overview of the key contributions of the energy sector to Canada’s economy. The Brief also provides statistics on the energy industries’ progress in lowering production emission intensity in recognition of Canada’s net-zero emissions goal.
JULY 2020
The Investment Climate for Canada’s Energy Sector
Guy Holburn and Brian Rivard
This report assesses the investment climate for Canada’s electricity, gas, oil, and pipeline industries, based on responses from 260 senior energy sector executives to an online survey conducted by the Ivey Energy Centre towards the end of 2019. The goal of the survey was to better understand what factors are driving energy companies’ investment decisions and how Canada compares to other countries.
SEPTEMBER 2019
What Do We Know About Household Energy Conservation Programs? Evidence from Medicine Hat
Brandon Schaufele
In 2008, the City of Medicine Hat, Alberta, launched a large-scale energy conservation program called HAT Smart, an initiative targeted at reducing residential per capita energy consumption. This policy brief aims to evaluate the actual energy savings and net economic benefits – both in electricity and natural gas – achieved by the program. This analysis also offers an opportunity to learn from this program and situate the results of HAT Smart within a growing body of research studying similar programs offered in other jurisdictions.
JULY 2019
Don’t leave me stranded: What to do with Ontario’s Global Adjustment?
Brian Rivard
This Policy Brief offers an economic perspective to the ongoing policy discussions around the global adjustment. The global adjustment is a monthly fee paid by Ontario consumers to cover the fixed cost to build and maintain generation assets in the province, and to deliver Ontario’s conservation programs.
MARCH 2019
Best Practice Principles of Corporate Governance for Crown Corporations
Guy Holburn and Adam Fremeth
This report provides an overview of recommended best practice principles for corporate governance arrangements of Crown corporations, government-owned enterprises with mixed commercial and public policy objectives.
NOVEMBER 2018
Regulating Mega-Projects: The Case of Muskrat Falls
Guy Holburn
In May 2011, the government of Newfoundland and Labrador announced that costs associated with the Muskrat Falls project would be exempt from regulatory review and approval by the Board of Commissioners of Public Utilities (PUB). This report examines the purpose and role of regulatory agencies in the electricity sector and assesses the effect of exempting the Muskrat Falls project from PUB oversight.
JULY 2018
A Historical and Comparative Perspective on Ontario’s Electricity Rates
Adam Fremeth and Guy Holburn
This Policy Brief provides a historical and comparative perspective on the development of Ontario’s electricity rates from 1970 to 2015, the modern era of electricity in the province, which includes the addition of commercial-scale nuclear generation, efforts to deregulate and restructure the wholesale power market, as well as recent initiatives to decarbonize generation and reduce consumption.
JANUARY 2018
Improving Governance and Strategy in Ontario’s LDC Sector
Adam Fremeth and Guy Holburn
This report documents the results from a new survey of 384 directors of LDCs in Ontario that profiles directors’ professional careers and views about organizational financial priorities, diversification, and mergers and acquisitions.
JULY 2017
Backgrounder on Generation Capacity Markets
Adam Fremeth, Guy Holburn, Margaret Loudermilk and Brandon Schaufele
This policy brief provides a description of key attributes and functioning of capacity markets, and discusses some important caveats and key messages in considering the implementation of a capacity market in Ontario.
APRIL 2017
The Economic Cost of Electricity Generation in Ontario
Adam Fremeth, Guy Holburn, Margaret Loudermilk and Brandon Schaufele
This report brings an economic perspective to the analysis of electricity generation costs and prices in Ontario.
JANUARY 2017
Renewable Energy Policy and Wind Generation in Ontario
Margaret Loudermilk
This policy brief assesses whether Ontario's 2009 Green Energy and Green Economy Act had a measurable impact on the duration of regulatory approval processes for wind energy projects.
JULY 2016
Consumer Advocacy in Ontario's Energy Sector
Adam Fremeth and Guy Holburn
Recent legislation requires the Ontario Energy Board to establish a new process for the interests of consumers to be represented in its proceedings.
JANUARY 2016
Energy in Canada: A Statistical Overview
Adam Fremeth, Guy Holburn and Margaret Loudermilk
It is well known that energy industries are major contributors to Canada’s economy, and today Canada is one of the world’s leading energy economies. This fact is quickly illustrated by headline statistics: Canada is the world’s 3rd largest exporter of electricity, 5th largest exporter of natural gas, 7th largest exporter of crude oil, and 8th largest exporter of refined petroleum products.
OCTOBER 2014
Trends in Academic Research on Canadian Energy Policy, 2000-2012
Anisha George, Guy Holburn and Margaret Loudermilk
The energy sector plays a critical role in Canada's economy at both the national and provincial levels. This report provides a review of the current state of Canadian energy policy research in academic literature.
JUNE 2013
Wind Energy in Canada: A Survey of the Policy Environment
Guy Holburn, Dan Berry, Patrick McNaught, Michal Moore and Jennifer Winter
Since 2003, provincial governments in Canada have encouraged substantial private investment in renewable energy sources, notably in wind power which can provide environmental benefits at lower cost than other forms of renewable energy. This policy brief reports results from a unique national survey of firms active in the wind energy industry in Canada.
JANUARY 2011
Guidelines for Governance of the Electricity Sector in Canada
Guy Holburn
Electricity policy has become vastly more complex in the last decade due to new technology developments in power generation and smart metering, and also due to the increasing political priority placed on environmental stewardship. There is an urgent need for more informed debate on policy options in the electricity sector.
Oil and Gas
JUNE 2024
What is Energy Justice? A Primer for Non-Philosophers
Rebecca Livernois
This article disentangles features of energy production, distribution, and consumption that create injustices with the aim of clarifying what constitutes energy justice. It argues that energy justice is upheld when individuals and countries minimize the harm their energy use causes while fulfilling the duty to provide energy, where possible, to those who need it to meet their basic needs.
MAY 2024
The Ontario Energy Board got the Economics Right on Enbridge Gas
Brandon Schaufele
On December 20 2023, The Ontario Energy Board (OEB) released Decision and Order EB-2022-0200, Enbridge Gas's first rate case in a decade. This decision attracted notable attention and is one of the most controversial and interesting Ontario regulatory decisions in years. It represents one of the OEB's first attempts to wrestle with the challenge of net zero and the energy transition for natural gas utilities.
APRIL 2022
Private Mineral Rights, Voluntary Carbon Credits & Payments for Conservation
Brandon Schaufele
Voluntary markets for carbon credits are growing rapidly. Purchasing carbon credits offers firms an ability to reduce their net emissions by exploiting gains from trade. Proponents are increasingly trying to capitalize on this demand by undertaking actions that yield carbon credits. Carbon accreditation processes must address three issues: permanence, additionality and leakage. This white paper explores how market interactions lead to leakage and what this implies for the market for carbon credits.
JUNE 2021
Investment in Canada's Clean Technology Sector
Jiya Hai, Guy Holburn, Sorena Rahi and Brian Rivard
This Policy Brief provides an in-depth assessment of the climate for investment in clean energy technology industries in Canada based on data from an extensive survey of senior energy sector executives conducted by the Ivey Energy Policy and Management Centre at Ivey Business School.
APRIL 2021
The Paris Agreement in 2021: Canada in a Global Context
Radoslav Dimitrov
The 2015 Paris Agreement on Climate Change (PA) is the main international policy agreement that defines the global response to climate change. This Policy Brief examines whether, five years after the Paris Agreement was first negotiated, major economies are fulfilling their policy pledges.
JANUARY 2021
Measuring the Economic Impact of Alberta's Crude Oil Curtailment Policy
Brandon Schaufele and Jennifer Winter
In January 2019, the Government of Alberta imposed ‘curtailment’ limits on crude oil and bitumen production. This brief measures the short-run market implications of the curtailment policy.
DECEMBER 2020
Energy in Canada: A Statistical Overview
Ramin Alahdad, Jiya Hai, Guy Holburn and Brian Rivard
This Policy Brief is an update of our 2016 Brief with the same title, and offers a statistical overview of the key contributions of the energy sector to Canada’s economy. The Brief also provides statistics on the energy industries’ progress in lowering production emission intensity in recognition of Canada’s net-zero emissions goal.
JULY 2020
The Investment Climate for Canada’s Energy Sector
Guy Holburn and Brian Rivard
This report assesses the investment climate for Canada’s electricity, gas, oil, and pipeline industries, based on responses from 260 senior energy sector executives to an online survey conducted by the Ivey Energy Centre towards the end of 2019. The goal of the survey was to better understand what factors are driving energy companies’ investment decisions and how Canada compares to other countries.
SEPTEMBER 2019
What Do We Know About Household Energy Conservation Programs? Evidence from Medicine Hat
Brandon Schaufele
In 2008, the City of Medicine Hat, Alberta, launched a large-scale energy conservation program called HAT Smart, an initiative targeted at reducing residential per capita energy consumption. This policy brief aims to evaluate the actual energy savings and net economic benefits – both in electricity and natural gas – achieved by the program. This analysis also offers an opportunity to learn from this program and situate the results of HAT Smart within a growing body of research studying similar programs offered in other jurisdictions.
MARCH 2018
The Paris Agreement on Climate Change: An Overview and Implications for Canada
Radoslav Dimitrov
The Paris Agreement on Climate Change (PA) is a legally binding but ambiguous international treaty that gives governments full discretion over domestic policies. The treaty is programmed to grow stronger over time and requires countries to revise domestic policy plans regularly, adopting more stringent emission reduction targets.
JULY 2016
Consumer Advocacy in Ontario's Energy Sector
Adam Fremeth and Guy Holburn
Recent legislation requires the Ontario Energy Board to establish a new process for the interests of consumers to be represented in its proceedings.
APRIL 2016
Up or Down? Trends in the Oil & Gas Sector’s Contribution to the Canadian Economy
Adam Fremeth, Guy Holburn, Margaret Loudermilk and Pradeep Venkatesh
The analysis of industry economic trends over time is an essential input into private and public sector planning. An accurate understanding of historic changes within and among industry sectors enables decision-makers to create better forecasts of the future, facilitating capital investment, employment and expenditure decisions.
JANUARY 2016
The Impact of Oil Price Shocks on Canadian National and Provincial GDP
Brandon Schaufele
Since 2000, Canada’s economy has become increasingly dependent on the energy sector for growth.While several studies have examined the relationship between Canadian GDP and oil prices, few investigate the implications for provincial economies.
JANUARY 2016
Energy in Canada: A Statistical Overview
Adam Fremeth, Guy Holburn and Margaret Loudermilk
It is well known that energy industries are major contributors to Canada’s economy, and today Canada is one of the world’s leading energy economies. This fact is quickly illustrated by headline statistics: Canada is the world’s 3rd largest exporter of electricity, 5th largest exporter of natural gas, 7th largest exporter of crude oil, and 8th largest exporter of refined petroleum products.
2016
Squaring the Circle: Canadian GHG Emissions
Paul Boothe, Félix-A. Boudreault and Christopher Frankel
In December 2015, the Prime Minister, accompanied by a group of Provincial Premiers, confirmed Canada's commitment to reducing annual GHG emissions to 30 percent below 2005 levels, by 2030.
2016
Sharing the Burden: Canadian GHG Emissions
Paul Boothe and Félix-A. Boudreault
Policy makers agree that the rapid build-up of GHGs in the atmosphere is responsible for the climate change the world is experiencing.
2016
By the Numbers: Canadian GHG Emissions
Paul Boothe and Félix-A. Boudreault
With the election of new governments in Alberta and Ottawa, there is a sense that reducing greenhouse gas emissions (GHGs) is back on the policy agenda.
NOVEMBER 2014
Developing Global Market Access for Canada's Oil and Gas Industry
Adam Fremeth, Guy Holburn, Pradeep Venkatesh and Andre Wilkie
In the last three decades, Canada has achieved a leading position in the global oil and gas industry. But will it last? New research by Assistant Professor Adam Fremeth, Associate Professor Guy Holburn, Energy Centre research intern Pradeep Venkatesh, and André Wilkie, Associate at The Boston Consulting Group, addresses the opportunities, as well as economic risk, that Canada faces.
OCTOBER 2014
Trends in Academic Research on Canadian Energy Policy, 2000-2012
Anisha George, Guy Holburn and Margaret Loudermilk
The energy sector plays a critical role in Canada's economy at both the national and provincial levels. This report provides a review of the current state of Canadian energy policy research in academic literature.
SEPTEMBER 2014
The Duty to Consult and Accommodate Aboriginal Groups in Canada
Brandon Schaufele, Guy Holburn, Margaret Loudermilk and Andre Wilkie
Many projects in extractive and infrastructure industries such as electricity, oil, gas, mining, and pipelines are situated on lands used by Aboriginal peoples. New research by Energy Centre Research Director Margaret Loudermilk, Associate Professor Guy Holburn, and André Wilkie, Associate at The Boston Consulting Group, addresses the legislation and landmark court cases surrounding this issue.
Pipelines
JANUARY 2024
When Housing Policy meets the Energy Regulator: Understanding the Minister of Energy’s Decision to Effectively Overrule the Ontario Energy Board
Adam Fremeth and Brandon Schaufele
This Policy Brief provides an in-depth discussion of the Government's decision to override the OEB in the recent Enbridge Gas decision
JUNE 2021
Investment in Canada's Clean Technology Sector
Jiya Hai, Guy Holburn, Sorena Rahi and Brian Rivard
This Policy Brief provides an in-depth assessment of the climate for investment in clean energy technology industries in Canada based on data from an extensive survey of senior energy sector executives conducted by the Ivey Energy Policy and Management Centre at Ivey Business School.
DECEMBER 2020
Energy in Canada: A Statistical Overview
Ramin Alahdad, Jiya Hai, Guy Holburn and Brian Rivard
This Policy Brief is an update of our 2016 Brief with the same title, and offers a statistical overview of the key contributions of the energy sector to Canada’s economy. The Brief also provides statistics on the energy industries’ progress in lowering production emission intensity in recognition of Canada’s net-zero emissions goal.
JULY 2020
The Investment Climate for Canada’s Energy Sector
Guy Holburn and Brian Rivard
This report assesses the investment climate for Canada’s electricity, gas, oil, and pipeline industries, based on responses from 260 senior energy sector executives to an online survey conducted by the Ivey Energy Centre towards the end of 2019. The goal of the survey was to better understand what factors are driving energy companies’ investment decisions and how Canada compares to other countries.
JUNE 2020
Regulating Induced Emissions from Pipelines
Adam Fremeth and Brandon Schaufele
Historically, impact assessments for pipelines focused on factors such as safety and the prospect of spills. The regulatory process did not explicitly consider CO2e emissions. This has changed with the passage of Bill C-69. This Policy Brief outlines one potential framework for regulating induced emissions from future oil and gas pipelines.
MARCH 2017
Risks and Costs of Regulatory Permit Applications in Canada’s Pipeline Sector
Guy Holburn and Margaret Loudermilk
This report provides preliminary results from a new program of research that investigates the impact of the current regulatory and political approvals processes for major hydrocarbon infrastructure projects on the investment environment for project developers.
JULY 2016
An Economic Analysis of New Upstream Emissions Requirements for Pipeline Approvals
Brandon Schaufele
New regulations announced by the federal government require the National Energy Board to consider the quantity of direct and upstream greenhouse gas emissions when evaluating pipeline projects. Technical Appendix.
JANUARY 2016
Energy in Canada: A Statistical Overview
Adam Fremeth, Guy Holburn and Margaret Loudermilk
It is well known that energy industries are major contributors to Canada’s economy, and today Canada is one of the world’s leading energy economies. This fact is quickly illustrated by headline statistics: Canada is the world’s 3rd largest exporter of electricity, 5th largest exporter of natural gas, 7th largest exporter of crude oil, and 8th largest exporter of refined petroleum products.
OCTOBER 2014
Trends in Academic Research on Canadian Energy Policy, 2000-2012
Anisha George, Guy Holburn and Margaret Loudermilk
The energy sector plays a critical role in Canada's economy at both the national and provincial levels. This report provides a review of the current state of Canadian energy policy research in academic literature.
SEPTEMBER 2014
The Duty to Consult and Accommodate Aboriginal Groups in Canada
Brandon Schaufele, Guy Holburn, Margaret Loudermilk and Andre Wilkie
Many projects in extractive and infrastructure industries such as electricity, oil, gas, mining, and pipelines are situated on lands used by Aboriginal peoples. New research by Energy Centre Research Director Margaret Loudermilk, Associate Professor Guy Holburn, and André Wilkie, Associate at The Boston Consulting Group, addresses the legislation and landmark court cases surrounding this issue.
