One of the ways the IESO helps meet Ontario’s energy needs is through securing new supply through competitive procurements. The IESO works with large grid-connected generators, small-scale distribution-connected producers, communities, small businesses and individuals to address future supply challenges in a timely and cost-effective manner.
Resource Adequacy Updates
The IESO’s Resource Adequacy Framework sets out a competitive strategy for securing new resources in the short, medium and long term. This framework aligns acquisitions with evolving needs, balances ratepayer and supplier risks and recognizes the unique characteristics of different resource types.
The IESO publishes Resource Adequacy updates that provide a status report on how competitive procurements are helping to meet Ontario’s future energy needs.
As the need for new electricity resources in the near and long term in Ontario grows, the IESO is continuing to make significant strides towards meeting those needs. The most recent procurement for long-term supply has now concluded, adding a total of 882 MW to the province’s planned storage fleet, while complementary processes such as the growing Capacity Auction are securing resources to respond to upcoming system needs.
The IESO is moving forward with the largest procurement of energy storage in Canada, with 739 MW of new capacity slated to connect to the grid by 2026. These storage projects will be accompanied by 586 MW of expansions and upgrades at existing natural gas facilities – providing a cost-effective and timely solution to secure operational flexibility.
The IESO announced a series of procurements to secure more than 5,000 MW of capacity. A separate competitive procurement for existing generators also concluded with the IESO offering new five-year commitments to secure these resources at a lower cost than their previous contracts. In addition, the IESO extended contracts with several biomass facilities and began work on a program for existing small hydro facilities.