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O. Reg. 427/23: CLEAN ENERGY CREDITS

filed December 27, 2023 under Electricity Act, 1998, S.O. 1998, c. 15, Sched. A

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ontario regulation 427/23

made under the

Electricity Act, 1998

Made: December 21, 2023
Filed: December 27, 2023
Published on e-Laws: December 27, 2023
Published in The Ontario Gazette: January 13, 2024

Amending O. Reg. 39/23

(CLEAN ENERGY CREDITS)

1. Ontario Regulation 39/23 is amended by adding the following sections:

Proceeds, IESO

4.1 (1) The IESO shall keep the amount from its proceeds from the transfer of its clean energy credits that is determined under subsection (2) in an interest-bearing account.

(2) For the purposes of subsection (1), the amount for a given year is determined by taking the proceeds received by the IESO in that year from the transfer of its clean energy credits and subtracting the costs incurred by it in that year in respect of,

(a) the establishment and maintenance or designation of a clean energy credit registry;

(b) brokers, consultants, advisors or agents acting on its behalf or providing services to it for the purposes of Part II.1 of the Act;

(c) any interest costs incurred by it in respect of its activities described in clauses (a) and (b); and

(d) the transfer and retirement of its clean energy credits.

(3) The IESO shall retain any interest earned on the proceeds from the transfer of its clean energy credits in the interest-bearing account.

Proceeds, Ontario Power Generation Inc.

4.2 (1) Ontario Power Generation Inc. shall keep the amount from its proceeds from the transfer of its clean energy credits that is determined under subsection (2) in an interest-bearing account.

(2) For the purposes of subsection (1), the amount for a given year is equal to 80 per cent of the amount determined by taking the proceeds received by Ontario Power Generation Inc. in that year from the transfer of its clean energy credits and subtracting the costs incurred by it in that year in respect of,

(a) making environmental attributes available for transfer, including registration as a transferor on the clean energy credit registry;

(b) brokers, consultants, advisors or agents acting on its behalf for the purposes of Part II.1 of the Act; and

(c) the transfer and retirement of its clean energy credits.

(3) Ontario Power Generation Inc. shall retain any interest earned on the proceeds from the transfer of its clean energy credits in the interest-bearing account.

Commencement

2. This Regulation comes into force on the day it is filed.

 

Made by:
Pris par :

Le ministre de l'Énergie,

Todd Smith

Minister of Energy

Date made: December 21, 2023
Pris le : 21 décembre 2023

 

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