The OEB has approved separate agreements, one between Ontario Power Generation Inc. (OPG) and the Independent Electricity System Operator (IESO), and the other between Portlands Energy Centre L.P. (PEC LP) and the IESO, which establish a process for assessing ongoing compliance with the “must offer” condition in OPG’s and PEC LP’s generation licences. The must offer condition, which the OEB added to the licences on April 9, 2020 following the acquisition by PEC LP (an OPG subsidiary) of additional generation facilities, requires OPG and PEC LP to offer all available generating capacity into the electricity markets administered by the IESO.