The Ontario Energy Board (the "OEB") announced yesterday that it has opened its Innovation Sandbox (the "Sandbox").
The Sandbox is where energy service providers (utilities and others) can approach the OEB in an informal way to get relief from regulatory restrictions on their ability to provide innovative products, services and business models that can benefit customers. Similar types of initiatives have been used by Canadian and international regulators in financial services and securities to facilitate fintech.
The OEB's Sandbox is its first initiative resulting from the report of the Advisory Committee on Innovation (the "ACI") (the "ACI Report") which recommended approaches to regulatory changes that will facilitate innovative technologies and business models to serve customers. The OEB also announced its road map for consulting on other initiatives proposed in the ACI Report.
I had the opportunity to serve on the ACI. Please see a previous blog we posted on this matter here.
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