Payments by the IESO to licensed distributors
12. (1) The IESO shall make a payment to every licensed distributor who is a market participant and is required to make a payment described in section 9 to a retailer, and the payment that the IESO is required by this subsection to make is equal to the payment, if any, that the licensed distributor is required to make under section 9 to the retailer. O. Reg. 434/02, s. 7; O. Reg. 480/05, s. 1. (2) The IESO shall make the payment required by subsection (1) to a licensed distributor after receiving a statement from the licensed distributor setting out the information, if any, provided to the licensed distributor under clause 9 (4) (a). O. Reg. 434/02, s. 7; O. Reg. 480/05, s. 1. (3) The IESO shall make a payment to every licensed distributor who is a market participant and who is required to make a payment described in section 10 to an embedded distributor, and the payment that the IESO is required by this subsection to make is equal to the payment, if any, that the licensed distributor is required to make under section 10 to the embedded distributor. O. Reg. 434/02, s. 7; O. Reg. 480/05, s. 1. (4) The IESO shall make the payment required by subsection (3) to a licensed distributor after receiving a statement from the licensed distributor setting out the information, if any, provided to the licensed distributor under clause 10 (4) (a). O. Reg. 434/02, s. 7; O. Reg. 480/05, s. 1. (5) The IESO shall make a payment to every licensed distributor who is a market participant and who is required to make a payment under subsection 79.1 (12) or (14) of the Act, and the payment that the IESO is required by this subsection to make is equal to the aggregate of all amounts that the licensed distributor is required to pay under those subsections of the Act. O. Reg. 434/02, s. 7; O. Reg. 480/05, s. 1. (6) The IESO shall make the payment required by subsection (5) to a licensed distributor after receiving a statement from the licensed distributor setting out, (a) the number of the licensed distributor’s low-volume consumers to whom the licensed distributor is required to make a payment under subsection 79.1 (12) of the Act and the total amount payable by the licensed distributor to those consumers; and (b) the number of the licensed distributor’s designated consumers to whom the licensed distributor is required to make a payment under subsection 79.1 (14) of the Act and the total amount payable by the licensed distributor to those consumers. O. Reg. 434/02, s. 7; O. Reg. 480/05, s. 1. (7) The IESO shall make a payment required by this section to a licensed distributor by paying the licensed distributor an amount payable to the licensed distributor under this section or by way of set-off of the amount against amounts payable by the licensed distributor to the IESO. O. Reg. 434/02, s. 7; O. Reg. 480/05, s. 1. (8) The IESO shall make the payments required by this section even if the licensed distributor has not yet made any payments to low-volume consumers under subsection 79.1 (12) of the Act, to designated consumers under subsection 79.1 (14) of the Act, to retailers under section 9 or to embedded distributors under section 10. O. Reg. 434/02, s. 7; O. Reg. 480/05, s. 1. (9) Every licensed distributor who is a market participant shall provide the following information to the IESO and the Financial Corporation forthwith after making the payments required under subsections 79.1 (12) and (14) of the Act: 1. The number of the licensed distributor’s low-volume consumers to whom the licensed distributor made a payment under subsection 79.1 (12) of the Act and the total amount paid by the licensed distributor to those consumers. 2. The number of the licensed distributor’s designated consumers to whom the licensed distributor made a payment under subsection 79.1 (14) of the Act and the total amount paid by the licensed distributor to those consumers. O. Reg. 434/02, s. 7; O. Reg. 480/05, s. 1.