Posthaste: When Canada goes electric, households in these provinces will pay more
Canada has committed to net-zero greenhouse gas emissions by 2050, and for many Canadians that will mean savings on their energy bills — but not all.
A new report by Electrifying Canada’s Transition Accelerator that looks at the affordability of a net-zero future finds that most households will come out ahead when the country goes fully electric, but a “significant portion” will be paying more.
The analysis covers the costs of buying and operating heating and cooling equipment in the home and personal transportation under three electricity rate scenarios: low, medium and high, all of which are higher than today.
Even under the high-rate scenario, the median household could save about $150 a year, the report says, because more efficient electric technologies such as heat pumps and electric vehicles will offset rising electricity rates.
In the low-rate scenario, the median household could save more than $1,000 a year.
Atlantic provinces, where many households now heat with oil and gas and energy costs are highest, stand to see the biggest savings. The median household in Nova Scotia could see their energy bills reduced by 24 per cent or about $2,400 a year, said the report.
“In these regions, the transition to an electrified future will substantially improve energy affordability,” it said.
Other regions will need some help.
Households in Alberta and Saskatchewan, where natural gas is widely used for heating and where projected electricity rates are among the highest, are likely to see their energy costs rise.
Lower-income households who do not own a vehicle are also vulnerable to rising energy costs because they will miss out on transportation savings. Households with a car will save money as EVs come down in price, and
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