Certain energy-source-based environmental attributes must be made available for transfer, and the IESO and Ontario Power Generation Inc. must keep related proceeds in interest-bearing accounts.
Environmental attributes 1. The following energy sources are specified for the purposes of the definition of “environmental attributes” in section 25.11 of the Act: 1. Biofuel. 2. Biogas. 3. Biomass. 4. Hydro. 5. Nuclear. 6. Solar. 7. Wind. Requirements to make environmental attributes available for transfer 2. (1) The IESO shall, in every year, make available for transfer the environmental attributes owned by it that are associated with at least one megawatt-hour of electricity generated from one or more of the energy sources listed in section 1. (2) Ontario Power Generation Inc. shall, in every year, make available for transfer the environmental attributes owned by it that are associated with at least one megawatt-hour of electricity generated from one or more of the energy sources listed in section 1. Restrictions on transfer 3. (1) For the purposes of subclause 25.16 (1) (b) (i) of the Act, the environmental attributes must have been generated in the calendar year to which the applicable transfer deadline applies. (2) In subsection (1), the applicable transfer deadline is the applicable time specified by the registry rules under subsection 25.16 (2) of the Act. (3) For the purposes of subclause 25.16 (1) (b) (iii) of the Act, the electricity must have been consumed in the same calendar year in which the environmental attributes were generated. (4) For the purposes of subclause 25.16 (1) (b) (v) of the Act, a transferor shall not transfer environmental attributes associated with electricity that was generated from a generation facility that was not connected to the IESO-controlled grid or to a distributor’s distribution system. Transition, application to previously-generated environmental attributes 4. Part II.1 of the Act applies with respect to the transfer of environmental attributes generated on or after January 1, 2023 and before the day this Regulation came into force. 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. O. Reg. 427/23, s. 1. (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. O. Reg. 427/23, s. 1. (3) The IESO shall retain any interest earned on the proceeds from the transfer of its clean energy credits in the interest-bearing account. O. Reg. 427/23, s. 1. 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. O. Reg. 427/23, s. 1. (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. O. Reg. 427/23, s. 1. (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. O. Reg. 427/23, s. 1. 5. Omitted (provides for coming into force of provisions of this Regulation).