That's an expansive question, and I thank you for that.
It goes back to some of my remarks about when the current provincial government came into office in 2003, I believe. I recall, at that time, the province was in a deficiency situation. There was talk about putting in diesel gensets in the Toronto harbour to deal with reliability issues to the grid.
We were in a very different place. Over the last many years we have transitioned, largely, the electricity system, both from a generation standpoint, from a wires standpoint, as well as at the load from a conservation standpoint to, in effect, modernize the system quite a bit. That's certainly come at a cost, and I know the province has addressed that, even as recently as within the last 12 months.
Those are trends that are being replicated in many other jurisdictions. To Lisa's point, in Canada, we have the benefit of having a very robust and relatively clean electricity system. In the United States, it's not so much the case. Quite often when the Ontario market is compared, we are compared to American markets and Canadian markets, but a lot of those markets still have aging infrastructure. They haven't modernized their generation fleet, and we're starting to see a bit of churn happening in some of those markets. They are going through many of the same types of undulations that we've seen in Ontario.
The one Canadian example that we're seeing of that today is in Alberta, of course, as it transitions away from its coal fleet to natural gas as well as renewables.
We continue to be in a system where we have good reliability. The lights are on in Ontario. That will change over time as older resources come off, particularly on the nuclear side. That will require greater—as I mentioned—resiliency in the market. A lot of the tools that have been put into the system, ranging from smart meters all the way through to cleaner forms of generation, and more generation at the source of demand—or “in the load” as we often refer to it—will help the market adapt to some of those changes over time and to maintain the reliability in the system.