The Government of Ontario says it has secured more than 1,300 megawatts of new electricity supply through what it calls the largest competitive energy procurement in the province’s history.
The announcement, made Thursday, states the new power generation is expected to come online before May 1, 2030, and will be enough to supply electricity to approximately 350,000 homes.
The procurement process was carried out by the Independent Electricity System Operator, which approved 14 projects across the province. Officials say each project includes municipal support and at least 50 per cent equity ownership by First Nations partners.
The province says the competitive process resulted in costs that are 73 per cent lower than previous contracts under the former government’s Feed-in-Tariff program, and 21 per cent lower than the Large Renewable Procurement.
“To keep up with fast rising demand, Ontario successfully completed Canada’s largest competitive procurement bringing online new electricity generation 73 per cent lower than the previous governments,” said Stephen Lecce, Minister of Energy and Mines. “Ontario’s Integrated Energy Plan is focused on keeping power flowing and costs down, with shorter term renewables, storage, and natural gas bridging the gap as we expand nuclear and hydro over the medium term. A pragmatic all-of the-above strategy that has positioned Ontario as the best and most stable jurisdiction for electricity in North America.”
The government says electricity demand in Ontario could increase by up to 90 per cent in the coming years, prompting efforts to expand supply through a mix of nuclear, natural gas, hydroelectric and renewable energy sources.
“Today’s announcement shows that Ontario is taking decisive action to secure our energy future,” said Sam Oosterhoff, Associate Minister of Energy-Intensive Industries. “By bringing new generation online through a transparent, competitive process, we are not only keeping electricity reliable and affordable for families and businesses but also creating good-paying jobs and supporting Indigenous communities as true partners in growth. This is how Ontario leads, combining innovation, strong partnerships, and homegrown energy to power our province for decades to come.”
The government says the projects were selected based on criteria including Canadian ownership, location on lands already zoned for industrial energy use, and no impact on prime agricultural areas.
Officials also highlighted future plans to expand energy capacity, including exploring up to 16,000 megawatts of new nuclear generation and supporting additional hydroelectric projects in northern Ontario.
“Today’s announcement reinforces that our competitive approach to procurement is delivering cost-effective results as we expand Ontario’s electricity system to meet future demand,” said Lesley Gallinger, President and CEO of the Independent Electricity System Operator. “Through the first LT2 energy window, we met our procurement target by leveraging robust competition to secure renewable supply at lower prices for ratepayers. These 14 projects will position the grid to support economic growth across Ontario into the 2030s and beyond.”
