Unpacking IESO's LT2 RFP: Key Insights From Recent Engagements

Background and overview

In a recent address, Ontario's Minister of Energy and Electrification reaffirmed the government's commitment to delivering affordable, reliable, and clean energy while fostering economic growth and reducing emissions. With electricity demand projected to increase by 75 per cent by 2050—equivalent to adding four and a half cities the size of Toronto to the grid—this vision underscores the critical importance of proactive and innovative energy planning.

The Long Term 2 (LT2) procurements are critical to Ontario achieving its energy goals, with battery plants, electric vehicles and data centres driving ~$44 billion in investment. By procuring the energy needed to power Ontario's growing economy, the LT2 represents a key pillar of the province's "all-of-the-above" energy strategy.