When the program launched in 2009, it included a commitment to review FIT every two years. This commitment was also included in the province's Long-Term Energy Plan, released in November 2010. The review will consider a range of issues, such as: FIT price reduction; ensuring the long-term sustainability of clean energy procurement; continuing to build on the success of Ontario-based manufacturing and clean energy job creation; consideration of new technologies and fuel sources; and local consultations and the renewable approval process (REA).
As a result of this review, new prices for FIT contracts will be carefully developed to balance the interests of ratepayers with the need to encourage investments in new clean energy in Ontario, the government said. Going forward, all future clean energy contracts will be subject to the new price schedule.
"The response to our microFIT and FIT programs has been tremendous, with thousands of Ontarians participating in our clean energy economy. This review is part of our plan to transform our electricity system and ensure a sustainable clean energy program," said Chris Bentley, Minister of Energy.
Ontario has appointed Deputy Minister Fareed Amin to lead the review. He will work together with the Ontario Power Authority and consult with the sector throughout the review.
Ontarians can provide feedback by answering an online survey or making a written submission at Ontario.ca/FITreview until December 14, 2011.