Federal Panel Urges Atlantic Provinces to Create Single Electricity Market and Boost Economic Growth
A federally appointed Atlantic Economic Panel has released a report recommending the creation of a single electricity market across New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador. The 'One Atlantic Canada' strategy also proposes a $1-billion business expansion fund, streamlined project approvals, and coordinated immigration efforts to address labor shortages.
The Atlantic Economic Panel, a federally appointed body, has released a comprehensive report urging the four Atlantic provinces to establish a unified electricity market. The proposal calls for this new market to span New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador, with planning and management handled by an independent system operator.
The panel’s recommendations are part of a broader "One Atlantic Canada" strategy designed to tackle significant economic challenges in the region. Currently, the patchwork of provincial electricity plans leaves no single body to weigh regional power project priorities. To address infrastructure needs, the panel proposes mobilizing more than $25-billion in electricity infrastructure investment by 2035.
Beyond energy, the report outlines several key initiatives to stimulate growth. It recommends establishing a $1-billion fund specifically to help Atlantic companies expand. Additionally, the panel calls for a single federal–provincial review process for major projects, setting a maximum approval period of 24 months for nationally significant developments.
The strategy also addresses acute labor shortages and housing strains caused by recent population growth. Employers in the region are currently struggling to find skilled workers, and Atlantic Canada’s labour productivity has fallen further behind the national average. The panel estimates that there will be 441,000 jobs to be filled in the region by 2035. To meet this demand, the report sets a goal of retaining 80 per cent of newcomers for at least five years, a significant increase from the current rate of just over half.
The wider targets for 2035 include growing the region's population to more than three million, up from approximately 2.7 million today. Other ambitious goals include attracting $100-billion in new investment and achieving an $8-billion value in processing within resource sectors.
Federal Minister Sean Fraser indicated that while the government supports the direction of these proposals, specific roles and funding details require further negotiation. Fraser stated that all four provinces have signalled directional support for the panel's recommendations regarding the electricity grid.
Terry Richardson, chief of New Brunswick’s Pabineau First Nation and a member of the panel, emphasized the importance of inclusive development. He noted that Indigenous communities should help shape energy projects from the outset.