Ontario Adds New Power 73 Per Cent Lower Than Former Government

April 9, 2026

Ontario has secured more than 1,300 megawatts (MW) of new electricity supply across 14 projects through the Independent Electricity System Operator’s (IESO) Long-Term 2 procurement. These projects are part of the largest competitive energy procurement in the province’s history, delivering electricity at 73 per cent lower cost than the previous government’s contracts and 21 per cent lower than the Large Renewable Procurement. This investment will bring new generation online to meet rising demand, support economic growth across the province and ensure Ontario families and businesses continue to have access to reliable and affordable power.

As electricity demand is projected to rise by as much as 90 per cent and global competition for investment intensifies, Ontario is taking decisive action to strengthen its energy advantage and build the most competitive economy in the G7. By following the Auditor General’s recommendation and moving to competitive procurements, Ontario is delivering better value for ratepayers while positioning itself as one of the most stable and attractive jurisdictions for electricity investment in North America.

This investment delivers on Ontario’s plan to protect the province by building out a reliable, affordable and clean electricity system anchored by nuclear and hydro — the backbone of our grid — while adding new generation to support growth, strengthen energy security and keep costs down for families and businesses.

News Releases:

En: New Power

Fr: Nouvelle puissance