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ARTICLE · 03 SEPTEMBER 2024

Ontario Launches Largest Competitive Energy Procurement In Its History

McCarthy Tétrault
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On August 28, 2024, the Government of Ontario launched its Second Long-Term Procurement (the "LT2 Procurement"). The LT2 Procurement is described by the Government of Ontario...

CanadaEnergy and Natural Resources
Canadian Energy Perspectives
Canadian Energy Perspectives
Stephen Furlan
Stephen Furlan
Zachary Masoud
Zachary Masoud
Gurvir Sangha
Gurvir Sangha
Justin Parmar
Justin Parmar
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On August 28, 2024, the Government of Ontario launched its Second Long-Term Procurement (the "LT2 Procurement"). The LT2 Procurement is described by the Government of Ontario as the largest competitive energy procurement in the province's history, and builds on the province's plan to procure up to 5,000 megawatts of energy.

The press release announcing the launch of the LT2 Procurement identifies two initial, key dates:

  1. September 20, 2024: The Independent Electricity System Operator (the "IESO") is expected to report back to the Ministry of Electricity and Electrification with a procurement design framework.
  2. February 28, 2026: The IESO will consider how to conclude energy and capacity procurements by this date.

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