The cost over five years
What actually gets spent 2026–2031, per year.
Annual program capex (C$B)
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lands within 2026–2031
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Best case — a small execution discount, no major overrun triggers (assumed; see note below)
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Expected — this plan's own costed estimate (some projects complete after 2031)
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If it overruns — reference-class Canadian megaproject overruns (verified: 1.8–2.3×)
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contingent tier (northern pipeline) — excluded from base until FID conditions met
For scale: this five-year program is smaller than the >$116B of projects already referred to the federal Major Projects Office plus the $250B+ of provincial-utility capital plans already announced. The money is findable — roughly a third of the window is a conventional fiscal choice after prepays (see section 6b) — but speed, labor and permitting are the hard parts.
Targets by type of capital
Every dollar of the five-year window, broken out by source — not just the public/private headline split. Full financing narrative and bankability case on the Financing page.
| Capital source | Target (C$B) | Share | Kind |
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