Ontario Launches Clean Energy Credit Registry

On March 29, 2023, the Independent Electricity System Operator (IESO) launched a clean energy credit (CEC) registry in Ontario (the Registry). Companies will be able to purchase and retire CECs on the Registry to meet their own corporate environmental and sustainability goals.

What you need to know

• The Registry is largely enacted through amendments to the Electricity Act, 1998, which creates a platform for the recognition, tracking and retirement of CECs, each representing one megawatt hour (MWh) of electricity generated by qualifying greenhouse gas emission-free electricity generation in the province.
• Under certain greenhouse gas reporting standards, companies can voluntarily use CECs or renewable energy credits to offset the greenhouse gas emissions attributable to their electricity use—i.e., their Scope 2 electricity use emissions¹. The increasing demand for these products prompted the province to develop the Registry to transparently track the purchase