Applications accepted until Nov. 30; eligible firms will receive discounts on electricity prices
TORONTO—The Ontario Power Authority (OPA) has begun accepting applications under the third phase of the province’s Industrial Electricity Incentive (IEI) program.
Applications will be accepted until Nov. 30, with the IEI program now open to firms working in sectors like data processing, refrigerated warehousing and greenhousing.
Under earlier phases of the program, applications were only accepted from eligible companies working in mining, quarrying, manufacturing and oil and gas extraction.
“Expanding the … program to more eligible industries offers a great opportunity for more Ontario industries to reduce their electricity costs,” OPA chief executive Colin Andersen said in a statement. “We encourage all eligible industries to review the final program documents and apply for the incentive.”
Under IEI guidelines, successful program applicants that build new facilities or expand existing ones will receive discounts on electricity prices for 10 years.
The contracts will not feature fixed-rate pricing, according to an OPA spokesperson, but rather a floating price “based on the marginal cost of providing the energy.”
As much as four terawatt-hours of electricity has been allocated for the third stream of the program.
No minimum capital is required of phase three applicants.
The OPA said it plans to host a webinar Sept. 24 outlining details of the program and answering questions about the application process.
To find out more about the program, and to participate in the webinar, log on to the IEI program page at the OPA website.