Dear OSEA members,
Today, on October 26th, Ontario released the 2017 Long-Term Energy Plan(LTEP), Delivering Fairness and Choice—that focuses on energy, affordability, innovation and customer choice in Ontario. The purpose of the LTEP is to forecast and prepare for Ontario’s (bright) energy future!
Since 2003, approximately $70 billion have been invested into Ontario’s electricity system. This investment played a key role in phasing-out coal generation in 2004 and has set Ontario up for a clean energy future. Fast-forward to 2016, 90% of all generation in Ontario was from non-emitting sources. One of Ontario’s long-term goals includes reducing greenhouse gas emissions to 37% below 1990 levels by 2030.
Ontario’s Fair Hydro Plan, launched in July of this year, reduces the electricity bills of residential consumers by 25 percent on average and holds, to the rate of inflation, any increases in bills for four years. Delivering on the affordability and customer choice fronts, the 2017 LTEP confirms that electricity prices are expected to remain below those estimated by the 2013 LTEP. Additionally, the 2017 LTEP aims to expand Green Button to the entire province so that customers have an increased level of control regarding their energy conservation opportunities.
Due to the shutdown and refurbishments of various nuclear-generating stations, a capacity shortfall is expected in early-mid 2020. This need for capacity will be addressed via IESO’s Market Renewal Initiative that aims to redesign Ontario’s energy markets. Ontario plans to rely less and less on long-term electricity contracts and hopes to move towards a market-based approach.
The 2017 LTEP was possible thanks to the thousands of people across Ontario that were actively involved in the development stages of the LTEP. This includes over 500 stakeholders, hundreds on Ontarians, almost 100 Indigenous communities and organizations, as well as thousands of formal and informal submissions. The LTEP is committed to Delivering Fairness and Choice by making energy utilization, cleaner and more affordable in Ontario.
You may read the complete news release here: 2017 Long-Term Energy Plan
OSEA is grateful for the opportunity to attend 2017-LTEP, Delivering Fairness and Choice, and looks forward to helping Ontario move towards a sustainable energy future!
Interim Executive Director