On June 26, 2020, RPRA’s Board approved the addendum to the MHSW Wind-Up Plan for the transfer of Surplus Funds to ISOs with the following conditions:
- the MHSW Wind-Up Plan: ISO Surplus Fund Transfer Addendum shall be updated to apply a reserve share allocation methodology based on current membership at the date of approval of the Addendum, and market share using reported tonnage supplied to the Ontario market in the last full year (2019 actuals).
- the MHSW Wind-Up Plan: ISO Surplus Fund Transfer Addendum shall be updated with respect to how tonnage is attributed to stewards: the reserve share allocation methodology used to determine the SO-ISO share of a material reserve attributes tonnage supplied by a steward who has transitioned to an ISP during the applicable data year to that steward’s current program operator.
- the MHSW Wind-Up Plan: Residual Fund Addendum shall be amended by adding a fifth clause stating that “Residual funds must be returned to Stewards or ISP Members in the form of a payment and not as a credit that can be accessed at a later date, if requested by a Steward or ISP Member.”
- the Authority may serve a decision-making role in the SO-ISO Surplus Fund Transfer Agreement, with respect to reasonable unexpected costs recoverable by Stewardship Ontario from ISOs in the event of a program extension, on terms that are acceptable to the Authority’s CEO
To view the RPRA approval letter, follow the link below:
June 2020 – RPRA Board Approval letter, Amend MHSW Wind-Up Plan re: Surplus Funds Transfers