Ontario is leveraging its world-class clean electricity grid by launching a clean energy credit (CEC) registry to boost competitiveness and attract jobs, by helping businesses meet their environmental and sustainability goals.
Proceeds from the sale of CECs will help keep costs down for electricity ratepayers and fund the construction of clean electricity projects in Ontario through a newly created Future Clean Electricity Fund. 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, while continuing to build its clean economy.
“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, Ontario’s Minister of Energy. “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.”
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.
The registry, administered by the Independent Electricity System Operator (IESO), adds to the growing list of factors that make Ontario a top destination for all types of investment, including the province’s well-trained workforce, tax credits, and an exemplary research and development ecosystem.
“Ontario’s clean energy advantage is driving new business development in the province. Clean energy credits will generate funds for new clean energy projects, offsetting costs for ratepayers while helping us maintain a reliable and clean supply of power for years to come,” said Carla Y. Nell, vice-president of corporate relations, stakeholder engagement and innovation at IESO.
For more information on the CEC registry, visit the IESO’s CEC registry website.