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Canada Launches $1 Trillion Power Grid Overhaul

Canada has launched a C$1 trillion National Electricity Strategy to double the country’s grid capacity by 2050, addressing an expected surge in electricity demand. Announced on Thursday, Prime Minister Mark Carney framed the ambitious plan as a direct response to industrial growth and technological advancements like AI, which are set to transform energy needs.

“As our industries expand, our economy grows, AI accelerates, electricity demand is expected to double by 2050, so we will double our grid,” Carney said.

The strategy rests on four core pillars: constructing new power generation infrastructure, linking fragmented provincial and territorial grids with fresh transmission lines, bolstering the workforce with over 130,000 high-skilled jobs, and ramping up domestic production of grid equipment. Currently, Canada’s patchwork of regional grids results in billions of dollars lost to outages and redundant systems, a challenge the plan aims to tackle head-on through projects like the Transmission InterConnect Investment Strategy, now under the Major Projects Office for development.

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What’s going on?

• Report: Swiss Nuclear Plants Estimated To Viable for 80 Years (theDeepDive)

• April home sales down amid frosty start to spring real estate market (CBC)

• Latvia’s Government Collapses Over Ukrainian Drone Incident (theDeepDive)

• Canada needs to move faster on major energy, infrastructure projects after years of delays, CIBC head says (Globe)

• Class Action Accuses OpenAI of Routing ChatGPT Queries to Meta and Google Without User Consent (theDeepDive)

• PM says best place for Alberta is in Canada, after judge tosses separation petition (GN)

• Whistleblower Testifies CIA Removed 40 Boxes of JFK and MKUltra Files Before Gabbard Could Declassify Them (theDeepDive)

• Carney says Canada, Alberta will advance a potential crude oil pipeline (CTV)

• Senator Wanted by ICC for Drug War Killings Flees Philippine Senate Under Cover of Gunfire (theDeepDive)

What’s the latest?

• Crypto: A U.S. Senate committee approved the bipartisan Clarity Act in a 15-9 vote, marking a major step toward establishing clearer regulations for the cryptocurrency industry. Supported by companies like Coinbase, Circle, and Ripple, the bill aims to create formal rules for digital assets after years of regulatory uncertainty. However, opposition remains from banking groups, labor unions, and law enforcement agencies, which warn about risks tied to financial stability, illicit transactions, and conflicts of interest involving political figures like Donald Trump.

• Politics: Mark Carney said the federal government is open to selling or restructuring public assets such as airports and some ports if the proceeds can help fund new infrastructure projects. The government is exploring options including airport ownership changes and possible port consolidations as part of a broader strategy to improve trade, transportation, and supply chains, though Carney said port sales are not currently a top priority.

• Energy: Mark Carney unveiled Canada’s new national electricity strategy, which aims to double the country’s power grid by 2050 while giving natural gas a larger role alongside nuclear, hydro, wind, and solar energy. The plan shifts away from the previous government’s stricter “clean electricity” approach, emphasizing affordability, energy security, and faster grid expansion, while signaling a softer stance on Canada’s 2030 climate targets. The strategy is expected to require more than $1 trillion in investment and could create up to 130,000 jobs as Canada prepares for rising electricity demand.

• Economy: The Canadian dollar fell for a seventh straight day Thursday, marking its longest losing streak since January, as stronger U.S. inflation data and widening bond yield gaps boosted the U.S. dollar. The loonie weakened to around 72.89 U.S. cents amid expectations that the Federal Reserve will keep interest rates higher for longer, while weaker Canadian jobs and housing data added pressure on the currency despite oil prices remaining above US$100 per barrel.

• Tech: AtkinsRéalis Group reported a 34% jump in quarterly profit, driven largely by booming demand in its nuclear business as AI data centres increase global electricity needs. The company is expanding nuclear projects in Canada, Romania, and North America, while also partnering with NVIDIA to explore nuclear-powered AI infrastructure. CEO Ian Edwards said nuclear energy remains the company’s main growth engine, supported by rising investments in energy, defence, and infrastructure projects.

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The stock market and stuff

• India Hikes Gold and Silver Tariffs to 15% in Bid to Curb Trade Deficit and Bolster Rupee (theDeepDive)

• Honda Suspends $15 Billion Ontario EV Plant Amid Weak Demand (theDeepDive)

• AI chipmaker Cerebras surges more than 100% in Wall Street debut (FT)

• Aya Gold & Silver Sees Net Income Jump To $48.5 Million In First Quarter (theDeepDive)

• US Clears Nvidia H200 Sales to China’s Biggest AI Firms (theDeepDive)

In the juniors

• Avino Silver & Gold Reports $39.4M In Net Income As Silver Prices Surge (theDeepDive)

• Ridgeline Minerals Initiates Drill Program at the Chinchilla Sulfide CRD Discovery, Selena Project (JMN)

• Elemental Royalty Strikes $327 Million Deal for Vizsla Royalties (theDeepDive)

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