MUST-OFFER CONDITION AGREEMENTMust-Offer Condition Agreement • July 29th, 2020 • Ontario
WHERE: By Decision and Order (EB-2019-0258 / EB-2020-0110) dated April 9, 2020 (the “OEB Decision”), the OEB amended the electricity generation licences of Portlands Energy Centre Inc., on behalf of Portlands Energy Centre L.P. (EG-2004-0540), and of its affiliate Ontario Power Generation Inc. (EG-2003-0104) (each, an “OEB Licence”), by imposing two conditions on each of the licensees to address concerns about market power, including a Must-Offer Condition, such condition to be governed by the terms of an agreement between the IESO and each licensee;
Re: Must-Offer Condition Agreement (EB-2019-0258)Must-Offer Condition Agreement • October 15th, 2020
On April 9, 2020, the Ontario Energy Board (OEB) issued a Decision and Order (EB- 2019-0258 / EB-2020-0110) amending the generation licence of Portlands Energy Centre Inc. on behalf of Portlands Energy Centre L.P. (PEC LP), which carries on business as Atura Power. One of the new conditions in the amended licence was a “Must-Offer Condition” requiring PEC LP at all times to offer all available generating capacity into the markets administered by the Independent Electricity System Operator (IESO) for Operating Reserve, the Day Ahead Commitment Process and for real-time Energy. The amended licence required PEC LP to enter into an agreement with the IESO in respect of the Must-Offer Condition, which was to include an IESO monitoring program, and to submit the agreement to the OEB for approval.
brenda.macdonald@opg.comMust-Offer Condition Agreement • October 15th, 2020
