Ontario is at a crossroads. Electrification and net-zero commitments are reshaping our economy, and the challenge ahead is clear: we must modernize, expand, and accelerate the province’s energy infrastructure—before demand outpaces supply. This crossroads is further complicated by an uncertain political landscape. While major investments are underway to accelerate the clean energy transition, economic uncertainty threatens to disrupt the stability and predictability that large-scale investments require.
At the Board’s Powering Our Climate & Energy Economy symposium on January 30, industry leaders, policymakers, and energy experts outlined the urgency of this transition. The numbers are staggering: Ontario’s electricity demand is projected to rise by up to 75% by 2050.
The sector and the Canadian Infrastructure Bank recognize the need for major investment—billions have been allocated, but even more will be required to meet the challenge ahead.
An Illustration during the Climate Symposium by Graphic Recorder Lynne Dalgleish
Aging Infrastructure, Growing Demand
- Ontario’s grid needs urgent upgrades to handle the electrification of homes, businesses, and transportation. Investment in grid modernization and reliability must keep pace with soaring demand.
The Speed of Deployment Must Increase
- Even with permits approved today, supply chain constraints and workforce shortages mean the infrastructure we need won’t be built overnight. Action must start now.
Infrastructure Investment is a Generational Opportunity
- This transition is more than just an energy challenge—it’s an economic opportunity. Ontario can secure high-paying jobs, attract investment, and lead in clean energy—but only if the right policies and partnerships are in place.
Public sentiment is shifting in response to economic pressures and trust in leadership
- While climate remains a concern, voters are prioritizing cost-of-living and economic security, forcing a balance on affordability with the investments required to secure Ontario’s energy future. Notably, women who are leading household decisions on energy efficiency, remain deeply anxious about future energy policies, underscoring the need for clear, actionable communication and tangible affordability benefits to maintain public trust and reinforce the economic value of clean energy investments.
75%
Expected electricity demand projected to rise in Ontario by 2050
95%
In Toronto specifically
31%
Of new electricity demand added from EV adoption by 2035
23
Terawatt-hours forecasted additional electricity required for Ontario's manufacturing sector by 2035
The reality is that building new infrastructure takes time. Even if we had every permit approved today, we still wouldn’t have the supply chain or workforce ready to execute at the scale required. That’s why we need to start now—training skilled workers, expanding manufacturing capacity, and streamlining project approvals.
– Ramy Azar, Vice President & Chief Technology Officer, Power & Renewables, Canada, AtkinsRéalis
We need to start investing now to make sure that the grid is ready for this future growth. Toronto Hydro intends to invest nearly $6 billion to expand, modernize, sustain, and strengthen the local electricity grid to serve current and future electricity needs of Toronto’s homes and businesses.
– Jana Mosley, President and CEO, Toronto Hydro
We need to de-risk the entire sector—investors need certainty. That means better regulatory coordination, stronger workforce planning, and ensuring supply chains are ready to support major projects. If we don’t get this right, we risk losing momentum at a critical moment for Canada’s energy future.
– George Christidis, Acting President & Chief Executive Officer, Canadian Nuclear Association
The Board is committed to advocating for the protection of our climate future to ensure the prosperity of our region. The Business Council of Toronto's Climate and Energy Transition Council will function as a living lab for change with a focus on spearheading sustainable projects and programs.
Climate and Energy Transition Council
This group will drive programs to support the greening of our supply chain to accelerate regional innovation.
