In order to determine the FIT and microFIT pricing structure for 2016, the IESO will be conducting their annual price review. The IESO has posted a pricing questionnaire for input, with the deadline for comments being August 14, 2015.
The IESO intends to post the 2016 price schedule before opening the application period for FIT 4 in order to provide price certainty for applicants. The updated price schedule will be posted September 2015, while the FIT 4 application period opens September 30 to October 23, 2015. These dates are reflected in the updated Procurement Schedule.
The IESO reviews the prices offered to generators annually to ensure that rates are appropriate for consumers, but also to ensure a reasonable return on investment for the generator. For this price review, the IESO has stated that they will focus on “ensuring ratepayer value, with consideration of global renewable generation cost trends and prior FIT application volumes.”
The FIT 4 application period will have a procurement target of at least 241.438 MW.