Ontario Appoints New Chair of the Ontario Energy Board

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TORONTO- The Ontario government is taking the next step in building an effective and modern regulator for its energy sector by appointing Mark White as the new Chair of the Ontario Energy Board (OEB). Mr. White has extensive expertise in consumer protection, regulation, change management and oversight that will help ensure the OEB is well positioned to support a strong and growing economy.

"I would like to congratulate Mark White on his appointment as the new Chair of the Ontario Energy Board," said Stephen Lecce, Minister of Energy and Electrification. "As we build new homes, attract new investments and electrify industry and transportation, the OEB is going to play a crucial role in advancing the government's policies, including ensuring every family and business have access to clean, affordable and reliable energy."

Mr. White's appointment comes at a critical time for Ontario's energy sector and the OEB as the agency implements the recently passed Keeping Energy Costs Down Act, 2024. This legislation was designed to ensure that future OEB decisions reflect and support the priorities of the people of Ontario by requiring the OEB to conduct broader engagements to ensure impacted organizations and sectors have an opportunity to participate in regulatory proceedings.

The government's Powering Ontario's Growth Planwill see Ontario expand its energy generation to help promote electrification and job creation while creating new opportunities to export energy to neighbouring markets. Mr. White's long track record of success, including in his role as Chief Executive Officer of Ontario's Financial Services Regulatory Authority, will be critical to ensuring that the OEB is nimble and ready to move quickly as our energy sector and economy grows.

"Mark's recent work with the government to transform the province's legacy financial regulators into a modern and efficient oversight body serves as an incredible example of what he can deliver at the Ontario Energy Board," added Minister Lecce. "I also want to thank Glenn O'Farrell for stepping into the role of acting Chair over the last several months."

The Ontario Energy Board will also be responsible for delivering the key priorities in the Minister's Letter of Direction and working with the government to implement recommendations from the Electrification and Energy Transition Panel's (EETP) final report, Ontario's Clean Energy Opportunity.

Biography of Mr. Mark E. White

Mr. White is an accomplished leader in regulation, policy and governance and has a strong background in law, risk management, markets and organizational transformation.

As the inaugural Chief Executive Officer of Ontario's Financial Services Regulatory Authority, he worked closely with government to transform legacy regulators into a highly consultative, board-governed, effective and principles-based regulator and statutory decision-maker - dedicated to protecting consumers and to ensuring strong, sustainable, competitive and innovative financial services sectors.

He was previously Assistant Superintendent at the Office of the Superintendent of Financial Institutions during the global financial crisis, where he balanced the needs of multiple domestic and international stakeholders and helped to address issues essential to the stability and effective functioning of financial markets.

A key focus during these and other regulatory experiences - including chairing international regulatory committees - is understanding business strategy and markets and ensuring internal processes, controls and governance, and effective competition, deliver desired outcomes and serve the public interest.

He has experience as Senior Vice President & Head Enterprise Risk at Bank of Montreal, and as a Managing Director and capital markets business leader at the Royal Bank of Canada. He practiced business and regulatory law as both in-house and external counsel and was a partner at Ernst & Young.

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