IESO and Rayonier (formerly Tembec) Enter into Settlement Agreement
May 6, 2021
The IESO has entered into a settlement agreement with Rayonier A.M. Canada Enterprises Inc. (formerly Tembec Enterprises Inc.) and Rayonier A.M Canada G.P (formerly Tembec General Partnership), collectively “RYAM”, in relation to matters previously under investigation by the Market Assessment and Compliance Division of the IESO.
Pursuant to the settlement, RYAM was found in breach of several market rules. While RYAM does not acknowledge or admit to any violation of the market rules, for the purposes of the settlement, it did not contest those breach determinations.
The IESO has issued a financial penalty and non-compliance letter to RYAM in relation to the breach findings. In accordance with the terms of the settlement, RYAM has agreed to repay to the IESO certain congestion management settlement credit payments received during the period under investigation. RYAM has also agreed to operate the Spruce Falls facility as a non-dispatchable load for the next five years. For additional details, please see the IESO’s Negotiated Settlements web page.