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ARTICLE · 03 SEPTEMBER 2024

Ontario's Largest Energy Procurement Announcement

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Ontario recently announced the largest competitive energy procurement in its history. This follows on the heels of its recently completed procurement process that secured nearly 3,000 megawatts (MW) of capacity...

CanadaEnergy and Natural Resources
David Macaulay
David Macaulay
Geoffrey Stenger
Geoffrey Stenger
Jason Roth
Jason Roth
Tyler B. McAuley
Tyler B. McAuley
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Ontario recently announced the largest competitive energy procurement in its history. This follows on the heels of its recently completed procurement process that secured nearly 3,000 megawatts (MW) of capacity in the province. This latest procurement plan contemplates up to 5,000 MW of new energy by 2034, with a diverse mix of sources, including nuclear, hydroelectric, renewables, natural gas, and biomass. Below is a summary of the highlights of this announcement. More specific details can be found at this link for the Second Long-Term Procurement (LT2) .

Key Highlights of the Energy Procurement Announcement

  • Energy Infrastructure Expansion: Ontario plans to procure up to 5,000 megawatts (MW) of new energy by 2034, with a diverse mix of sources. The province says this expansion is crucial for supporting large-scale capital projects and to meet its forecasted 60 percent increase in electricity consumption across the Province.

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