10/31/2023 | Press release | Distributed by Public on 10/31/2023 06:18
The Ontario Energy Board (OEB) has selected six projects to receive one-time total funding of $1.5 million to support innovation in the energy sector as part of its Innovation Sandbox Challenge.
The OEB launched the Innovation Sandbox Challenge in response to sector feedback relating to the need for funding for innovation. Earlier this year, the OEB invited project submissions focusing on two themes based on public input. The Challenge: how to move pilots to broader implementation and innovative strategies to enhance customers' understanding of their role in the energy transition, a global shift towards a more sustainable, renewable energy future.
The OEB has selected the following projects for funding:
The funding comes from administrative monetary penalties collected by the OEB through its compliance activities.
"The energy transition requires bold thinking. The Innovation Sandbox Challenge is a perfect example of how we're harnessing innovation to address that transition head on. Working collectively with these diverse, forward-thinking proponents, we can come up with practical solutions that deliver meaningful outcomes for consumers."
- Susanna Zagar, CEO.
The OEB Innovation Sandbox supports projects testing new activities, services and business models in Ontario's electricity and natural gas sectors. As the first regulatory sandbox in Canada's energy sector, it has provided information and guidance to dozens of proponents since its launch in 2019.
The OEB is the independent regulator of Ontario's electricity and natural gas sectors. It protects the interests of consumers and supports the collective advancement of the people of Ontario. Its goal is to deliver public value through prudent regulation and independent adjudicative decision-making which contributes to Ontario's economic, social and environmental development.
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