GI-2024-8-reg2: Canada Offshore Renewable Energy Regulations

The regulations affect large-scale offshore renewable energy developers, primarily those pursuing offshore wind projects off the coasts of Nova Scotia, Newfoundland and Labrador, and British Columbia. The government anticipates approximately seven affected operators over the next 20 years, meaning this is a very small but capital-intensive industry with no small businesses involved. Operators will need to develop and maintain comprehensive management systems, safety plans, environmental protection plans, and emergency response plans, and must hire an independent certifying authority to verify that their facilities are safe and fit for purpose throughout the operations phase — a cost that would not typically be incurred voluntarily after construction. Incremental compliance costs are estimated to average less than $1 million per year across all operators, driven primarily by mandatory incident reporting (estimated eight incidents per year industry-wide, each requiring about 40 hours to document) and the ongoing cost of the certifying authority during operations; administrative burden is separately estimated at an annualized $854.