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Clean Energy Credits

Sector Evolution

The Ministry of Energy has asked the IESO to assess options for the establishment and ongoing operation and management of a registry to support the creation and/or recognition, trading and valuation, and the retirement of renewable and clean energy credits (CECs) within the province. A voluntary CEC market can use clean energy to drive economic development in the province by helping corporations meet their clean energy goals. Investment in CECs can support efforts to decarbonize the Ontario electricity system.

Engagement with stakeholders will take place between February and June 2022 to meet the report back timeline of July 2022. In Q1 2022, engagement webinars will be held to gather information on stakeholder clean energy goals, how these goals can be met and how clean energy credits could support those goals. The IESO will also conduct a survey of large customers to help in this data gathering and will report back on all feedback received. In Q2 2022, the IESO will consider holding dedicated technical sessions with interested stakeholders to better support the design of CECs in the Ontario market and will host another engagement webinar to discuss findings and recommendations prior to submission of recommendations to government.

The detailed design options to support management of renewable and clean energy credits will be based on the following principles:

  • Domestic: The registry should include renewable and clean energy credits for electricity generated and consumed in Ontario. The initial design of the registry should be scoped to enable the trading of credits within Ontario.
  • Voluntary: The purchase of credits from the registry would be voluntary.
  • Customer choice: Evaluate market demand and create a variety of products to satisfy that demand.
  • Monetize investments made: Credit offerings should include existing non-emitting generation with best efforts made to enable proceeds from CEC sales to flow to ratepayers.
  • Future Proof: Build the registry to offer flexibility and the potential for future expansion to other products or markets, and to consider how the registry might incentivize future investment in new clean or renewable generation, when that power is needed.

The IESO encourages stakeholders and particularly industrial associations, commercial/institutional customers, LDCs, renewable and clean energy generators to stay informed and participate in this engagement. To be added to the email list for communications related to this engagement or to submit comments and enquiries, please email engagement@ieso.ca.

Related Information

Draft Engagement Plan

Schedule of Activities

Date Engagement Activity Expected Actions

May 5, 2022

Feedback is due on the April 21 webinar topics, including Registry Design Features, CEC Product Offering Options and the CEC Customer Preferences Survey.

Feedback Received

 

April 21, 2022

Engagement Webinar

Overview of stakeholder feedback received to date and discussion of CEC registry functionality, and CEC product offering options.

Recorded Presentation

This webinar was presented during the IESO's April stakeholder engagement sessions, see full agenda for more information.

March 17, 2022

Feedback is due on the February 24 webinar topics, including design considerations for implementing a CEC market in Ontario.

Feedback Received

April 19, 2022: IESO Response to Stakeholder Feedback

 

February 24, 2022

An overview of CEC markets and key concepts, and a discussion on stakeholder clean energy goals to identify initial key considerations for CEC design options in Ontario.

Overview of the government ask to the IESO to examine the development of a voluntary Clean Energy Credit (CEC) market in Ontario.

Recorded Presentation

This webinar was presented during the IESO's February stakeholder engagement sessions, see full agenda for more information.

February 3, 2022

Launch of engagement

Communication