The IESO has concluded the first medium-term RFP, and has entered into MTC I Contracts, each with a five-year term, with one wind and four natural gas facilities. Together these facilities contribute more than 700 MW of capacity to the system, ensuring ongoing value from previous investments in supply. This supply will be available between 2024 – 2026, at a lower cost than previous contracts. This procurement complements other IESO supply acquisition activities to meet reliability targets over the same timeframe.
The IESO will continue to run a series of cadenced medium-term RFPs every two to three years, with flexible five-year commitment periods in order to secure resources with expiring contracts. Future medium-term RFPs will evolve based on system needs and will likely see increased resource eligibility and competition. Procurement designs will continue to be shaped by input from stakeholders through the Resource Adequacy Engagement, as well as other IESO assessments and engagements.
