Just thinking about this recently... and as the population density increases, there will be a need to allot more postal Codes.
There are only two letters unused, W and Z.
Ontario has K,L,N,M,P
Quebec has G,H,J
All the other provinces and territories have one letter (except Nunavut, which shares 'X' with NWT)
Ontario probably won't be the first to need one (it should be fine with 5 letters ) and I think Quebec should be fine for the time being as well. I wonder if BC will take "W", leaving Vancouver ( and maybe Vancouver Island ) with V?
We can reserve Z for all those Caribbean nations that want to join us one day.
Btw, I realize it's not as critical as phone numbers as Postal codes aren't directly proportional to population.