The Ontario Minister of Energy has asked the Independent Electricity System Operator (IESO) to take steps toward creating a voluntary clean energy credit market for Ontario. The plan would see voluntary clean energy certificates (CECs) created for each 1 megawatt-hour of “clean electricity” generated in Ontario. Eligible generation sources include wind, solar, hydroelectric and nuclear. Businesses will be able purchase and retire the CECs to meet corporate sustainability and ESG goals. The Minister of Energy says that revenue from the purchase of CECs will be for the credit of ratepayers who are paying for the clean electricity being generated.
The graphic set out below, prepared by the IESO, illustrates how a “Voluntary Clean Energy Credit Registry” could work.
The IESO has been tasked with preparing a report, by July 2022, assessing options for the establishment and…