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ARTICLE · 09 MARCH 2022

Power Perspectives 2022 - Ontario Regional Overview

McCarthy Tétrault
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2021 has been a busy year for procurement plan development in Ontario. Readers may recall that in 2020 the IESO released its tripartite...

CanadaEnergy and Natural Resources
Reena Goyal
Reena Goyal
Kerri Lui
Kerri Lui
Karen Luu
Karen Luu
Seán O'Neill
Seán O'Neill
George Vegh
George Vegh
Christopher Zawadzki
Christopher Zawadzki
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2021 has been a busy year for procurement plan development in Ontario. Readers may recall that in 2020 the IESO released its tripartite Resource Adequacy Framework, identifying short term capacity auctions as the primary procurement method for near-term capacity needs, and competitive contractual (RFP) procurements for medium-term (three years, with a potential two year extension) and long-term (seven to ten years) capacity needs in Ontario.

Assuming existing contracted resources are re-procured, the IESO's 2020 Annual Planning Outlook (2020 APO) forecasted a capacity need arising in 2024, which would eventually become an energy need in the late 2020s and early 2030s. Such needs are driven primarily by expiring contracts, nuclear refurbishments, the retirement of the Pickering Nuclear Generating Station and moderate demand growth (due to projected increases in residential load from COVID-19 related work from home protocols, mining and agriculture sector resiliency

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