March 30, 2023 – The Province of Ontario is launching a clean energy credit (CEC) registry that aims “to boost competitiveness and attract jobs by helping businesses meet their environmental and sustainability goals”.

“Clean energy has become an economic imperative as companies around the world want to invest in jurisdictions with affordable, reliable and clean energy. Our clean energy credit registry will help us compete and attract more major investments in Ontario’s economy,” said Todd Smith, Minister of Energy.

The Ministry of Energy says this fund will help build “Ontario’s clean energy advantage as the province competes for and attracts new investments in electric vehicle and battery manufacturing, clean steel, and other sectors”.

“Ontario families have done the heavy-lifting and built one of the cleanest electricity grids in the world, and now we can leverage that clean supply to reduce the cost of new clean generation through our Future Clean Electricity Fund,” Smith added.

A CEC registry provides businesses with a tool to meet environmental and sustainability goals by demonstrating that their electricity has been sourced from clean resources, such as nuclear power, hydroelectric, wind, solar, and bioenergy.

“Ontario’s clean electricity grid—powered in large part by OPG’s nuclear and hydroelectric generation—can help industry achieve environmental and sustainability goals,” said Ken Hartwick, president & CEO, Ontario Power Generation.

The registry will be administered by the Independent Electricity System Operator (IESO).

Proceeds from the sale of CECs held by IESO and OPG will be directed to the government’s new Future Clean Electricity Fund, which aims to help keep costs down for electricity ratepayers by supporting the development of new clean energy projects.