Ontario Energy Association (OEA) Welcomes Ontario Energy Vision

TORONTO, Oct. 22, 2024 /CNW/ - The Ontario Energy Association (OEA) welcomes the Government of Ontario's new vision - Ontario's Affordable Energy Future: The Pressing Case for More Power. "Ontario needs bold action to meet expanding energy needs driven by economic growth" said Vince Brescia, President & CEO of the OEA. "The OEA commends the Ontario Government for the release of its Vision for Ontario's energy sector, the commitment to integrated energy planning, and its consultative approach. This approach will allow the whole sector to unite behind a strategy to deliver the clean energy required by our growing economy."

The province's demand for electricity has been recently projected to increase by 75 percent by 2050. Ontario's Affordable Energy Future outlines the challenges and priorities that will need to be addressed in a planned first-ever integrated energy plan, including:

• Integrated Planning: to coordinate all energy resources, including natural gas, electricity and other fuels
• Affordability: anchoring affordability as a main driver going forward
• No Carbon Tax: clarifying that the plan will not include a carbon tax
• Energy Efficiency: expanding energy efficiency, a low-cost resource
• Ontario as an Energy Superpower: a goal to leverage Ontario's competitive advantage to export clean technology

Increasing energy demand stems primarily from Ontario's new manufacturing growth, rapid increase in population, advanced technologies like artificial intelligence (AI) data centres, the electrification of industry, and the charging energy required for electric vehicles. The OEA has been a proponent of the need for comprehensive integrated energy planning in Ontario to guide the investment needed to meet this growth, and we are pleased to see this prime objective outlined in today's vision. The government of Ontario has launched a public consultation to inform the integrated energy plan. "The OEA and its members look forward to working collaboratively with Ministers Lecce, Oosterhoff, the Independent Electricity System Operator (IESO) and the Ontario Energy Board (OEB) to ensure the efficient implementation of the government's vision," said Mr. Brescia.

About the OEA

The OEA is the credible and trusted voice of the energy sector. We earn our reputation by being an integral and influential part of energy policy development and decision making in Ontario. We represent Ontario's energy leaders that span the full diversity of the energy industry. Learn more at www.energyontario.ca.

SOURCE Ontario Energy Association (OEA)

Vince Brescia, President & CEO, Ontario Energy Association, 416.605.3166, [email protected]