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ARTICLE · 09 JULY 2024

Latest Updates On Ontario's Long-Term 2 And Medium-Term 2 Electricity Procurements

Blake, Cassels & Graydon LLP
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On July 4, 2024, the Independent Electricity System Operator (IESO) presented the latest design developments for its Long-Term 2 (LT2) and Medium-Term 2 (MT2) procurements...

CanadaGovernment, Public Sector
Reena Goyal
Reena Goyal
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On July 4, 2024, the Independent Electricity System Operator (IESO) presented the latest design developments for its Long-Term 2 (LT2) and Medium-Term 2 (MT2) procurements, each of which will contain both capacity and energy streams.

Eligibility

Repowered facilities will no longer be eligible to participate in the LT2 or MT2. The LT2 will be geared toward new resources and eligible expansions, where eligible expansion eligibility will be defined as it was under the LT1 (e.g., separately metered). The MT2 will be geared toward existing facilities with procurement contracts with the IESO, Ontario Power Authority or Ontario Electricity Financial Corporation expiring by April 30, 2029.

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