Overview
After a long period of limited activity, Ontario has
entered an era where we can expect significant ongoing procurements
for the supply of new electricity generation. Following years of
surplus electricity, the Independent Electricity System Operator
(“IESO”), responsible for overseeing Ontario's
electricity sector, is now focused on meeting growing demand. The
IESO recently forecasted a 60 percent increase in Ontario's
total electricity demand over the next 25 years, with an expected
annual growth of two percent for the next couple of
decades. 1
The IESO attributes this anticipated growth to a variety of
factors including (i) electrification of key sectors of the
economy, (ii) population growth and (iii) increased economic
activity. The IESO has also noted the need for new procurements to
address the retirement and refurbishment of existing facilities. We
anticipate the IESO may decide to expand on future procurements to
address the rapid rise of
