PART II.2 PLANNING, PROCUREMENT AND PRICING
IESO to make adjustments
25.33 (1) The IESO shall, through its billing and settlement systems, make adjustments in accordance with the regulations that ensure that, over time, payments by classes of market participants in Ontario that are prescribed by regulation reflect, (a) amounts paid to generators, the Financial Corporation and distributors, whether the amounts are determined under the market rules or under section 78.1, 78.2 or 78.5 of the Ontario Energy Board Act, 1998; (b) amounts paid to entities with whom the IESO has or had a procurement contract, as determined under the procurement contract, other than amounts listed under subsection (2.1); and (c) the IESO clean energy credit proceed amounts determined by the regulations made by the Minister under clause 25.25 (1) (d). 2014, c. 7, Sched. 7, s. 8 (1); 2017, c. 16, Sched. 1, s. 43 (2); 2018, c. 17, Sched. 14, s. 1 (1); 2019, c. 6, Sched. 1, s. 3 (1); 2019, c. 6, Sched. 3, s. 11 (2); 2022, c. 23, Sched. 1, s. 4 (1). Distributors and retailers to make adjustments (2) Distributors and retailers shall, through their billing systems, make adjustments in accordance with the regulations that ensure that, over time, payments by classes of consumers in Ontario that are prescribed by regulation reflect, (a) amounts paid to generators, the Financial Corporation and distributors, whether the amounts are determined under the market rules or under section 78.1, 78.2 or 78.5 of the Ontario Energy Board Act, 1998; (b) amounts paid to entities with whom the IESO has or had a procurement contract, as determined under the procurement contract, other than amounts listed under subsection (2.1); and (c) the IESO clean energy credit proceed amounts determined by the regulations made by the Minister under clause 25.25 (1) (d). 2014, c. 7, Sched. 7, s. 8 (2); 2017, c. 16, Sched. 1, s. 43 (3); 2018, c. 17, Sched. 14, s. 1 (2); 2019, c. 6, Sched. 1, s. 3 (2); 2019, c. 6, Sched. 3, s. 11 (3); 2022, c. 23, Sched. 1, s. 4 (2). Excluded amounts (2.1) The following amounts are excluded from clauses (1) (b) and (2) (b): 1. Amounts funded under section 25.34. 2. Amounts paid under procurement contracts entered into under clause 25.32 (2) (d). 2019, c. 6, Sched. 1, s. 3 (3). Exception (3) Any adjustment that would otherwise be made under subsection (1) or (2) and that relates to electricity that is consumed by any of the following types of consumers shall instead be made in accordance with the regulations to one or more variance accounts established and maintained by the IESO: 1.  Repealed:  2009, c. 12, Sched. B, s. 6 (2). 2. A consumer whose rates are determined by the Board under section 79.16 of the Ontario Energy Board Act, 1998. 3. A consumer who is a member of a class of consumers prescribed by the regulations.  2004, c. 23, Sched. A, s. 37; 2009, c. 12, Sched. B, s. 6 (2); 2014, c. 7, Sched. 7, s. 8 (3). Adjustments, payments, set-offs and credits (4) The IESO, distributors and retailers shall, (a) make such adjustments in their accounts as may be required or permitted by the regulations to record adjustments described in subsections (1), (2) and (3); and (b) make and receive such payments, set-offs and credits as may be required or permitted by the regulations with respect to consumers described in subsection (3) or as may be required by a regulation made under this Act or the Ontario Energy Board Act, 1998.  2004, c. 23, Sched. A, s. 37; 2014, c. 7, Sched. 7, s. 8 (4); 2017, c. 16, Sched. 1, s. 43 (4); 2019, c. 6, Sched. 3, s. 11 (4). Variance accounts (5) The IESO shall establish and maintain such variance accounts as may be necessary to record all amounts payable or receivable by it under this section or under the Ontario Energy Board Act, 1998.  2004, c. 23, Sched. A, s. 37; 2014, c. 7, Sched. 7, s. 8 (5); 2017, c. 16, Sched. 1, s. 43 (5); 2019, c. 6, Sched. 3, s. 11 (5). Compliance (6) The Board shall ensure that adjustments, payments, set-offs and credits required or permitted under this section are made in accordance with the regulations.  2004, c. 23, Sched. A, s. 37. Adjustment not assignable (7) An adjustment made under subsection (1) or (2) is not assignable by a consumer in a contract with a retailer, whether the contract is entered into before or after this section comes into force.  2004, c. 23, Sched. A, s. 37. No cause of action (8) No cause of action against a consumer, a retailer or the Crown arises as the result of a contract or a term of a contract ceasing to have effect because of the operation of subsection (7).  2004, c. 23, Sched. A, s. 37. Limitation period (9) The adjustments referred to in this section to be made by the IESO, a distributor or a retailer under this section or under the regulations are subject to the limitation period provided for in the regulations, if any. 2021, c. 34, Sched. 9, s. 1. Section Amendments with date in force (d/m/y) 2004, c. 23, Sched. A, s. 37 - 01/01/2005 2009, c. 12, Sched. B, s. 6 (1, 2) - 09/09/2009 2014, c. 7, Sched. 7, s. 8 (1-5) - 01/01/2015 2017, c. 16, Sched. 1, s. 43 (2-5) - 01/06/2017 2018, c. 17, Sched. 14, s. 1 (1, 2) - 06/12/2018 2019, c. 6, Sched. 1, s. 3 (1-3) - 09/05/2019; 2019, c. 6, Sched. 3, s. 11 (2-5) - 01/11/2019 2021, c. 34, Sched. 9, s. 1 - 01/01/2022 2022, c. 23, Sched. 1, s. 4 (1, 2) - 15/03/2023