Atlantic Economic Panel recommends single electricity market for region

A Unified Regional Power Market

The Atlantic Economic Panel released its report on Friday, proposing a centralized system operator to plan and manage a power grid spanning all four Atlantic provinces. Appointed by Ottawa in November, the seven-member panel argues that joint regional planning is necessary to compete for capital and maximize economic opportunities from rising defense spending and proposed energy projects.

Panel chair Don Mills said electricity is central to the group’s regional strategy. New mines and industrial developments require reliable power, and the provinces face expensive decisions regarding which generating stations and transmission lines should be built first.

The current patchwork of provincial electricity plans leaves no single body to prioritize major power projects for the region as a whole. The proposed regional independent system operator would coordinate planning, investment, system operations, cost allocation, and electricity flows between provinces. Provincial governments would need to agree on sharing costs and benefits, as well as amend laws to support a common market.

Infrastructure Financing and Project Approvals

The panel proposes a dedicated fund to spread the cost of regional projects over time and mobilize more than $25-billion in electricity infrastructure investment by 2035. Federal financing would be contingent upon the provinces adopting an integrated electricity strategy.

For major developments, the panel calls for a single federal-provincial review process to cut decision times in half and establish a maximum 24-month approval period for nationally significant projects. Sean Fraser, the federal minister who appointed the panel, stated that Ottawa has discussed a regional electricity grid with the provinces for months, though the exact federal role and funding require further negotiation.

All four provinces are sending representatives, and I’ve spoken with my counterparts in each of the different provinces who all have signalled directionally their support for what the panel is recommending.

Sean Fraser, Federal Minister

Broader Economic Goals and Indigenous Engagement

Beyond energy infrastructure, the report outlines wide-ranging targets for 2035, including growing the regional population past three million, doubling international exporting businesses, securing $100-billion in new investment, and doubling resource processing value to $8-billion.

To address labor shortages and productivity gaps, the panel recommends a regional strategy to train and retain workers for an estimated 441,000 open jobs by 2035, alongside a joint immigration approach tied to labor needs. It also targets retaining 80 percent of newcomers for five years, up from slightly over half currently.

The panel emphasizes that Indigenous communities should help shape energy projects from the outset, with opportunities for equity ownership and shared governance. Terry Richardson, chief of New Brunswick’s Pabineau First Nation and a panel member, noted that ground rules must be established early.

As soon as you’ve got the concept, as soon as you’re looking at it, start engaging.

Terry Richardson, Pabineau First Nation Chief and Panel Member