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Economic Viewpoint

A New “Project of the Century”: Quebec’s Energy Transition Must Move from Plans to Action

May 27, 2026
Marc-Antoine Dumont, Senior Economist • Florence Jean-Jacobs, Principal Economist

This spring’s oil shock has once again highlighted the risks of overdependence on oil and gas, particularly for net importers like Quebec. The province has also been hard hit by US tariffs and is now seeking to reduce its economic reliance on external forces beyond its control. On top of this, deadlines for climate action targets are swiftly approaching and regions with abundant, reliable and affordable clean energy are more attractive than ever. In light of all these developments, energy security and energy sovereignty are emerging as strategic priorities for supporting Quebec’s economic growth over the medium to long term. Now is the time to make clear choices and begin taking concrete action. A rapid expansion of Quebec’s renewable energy production could spur economic growth, giving a boost to several industrial sectors and even helping to create new ones. But this plan comes with a number of risks that must not be underestimated. Instead, they must be anticipated, and the appropriate contingency measures identified ahead of time.

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