Ontario Issues New Green Energy Bill
|Area||Energy Law, Private Equity|
The Province of Ontario draft Green Energy and Green Economy Act (Bill 150) received its first reading in the legislature on February 23rd, 2009. The Bill’s primary objective is a rapid acceleration in the development of renewable energy generation capacity in Ontario, and it creates an impressive framework of initiatives. A key feature of those initiatives is a transfer of decision-making authority away from entities such as Hydro One, the Ontario Energy Board, the Ontario Municipal Board and municipalities to the Lieutenant Governor in Council. At the same time, however, the Bill does not provide much of the detail with respect to tariff rates, connection rules and other vital matters that renewable energy developers and investors have been eagerly awaiting; that detail is left to be provided in further regulations and directives.