Market Renewal - Incremental Capacity Auction
The IESO is working with stakeholders to design and develop an Incremental Capacity Auction (ICA). The ICA initiative will develop an enduring market-based mechanism that will secure incremental capacity to help ensure Ontario’s reliability needs are met cost effectively. Developing an ICA is a key element of the IESO’s Market Renewal program.
The province currently meets its capacity needs through a combination of regulated and contracted resources. This approach has been instrumental in transitioning to a cleaner supply mix while ensuring reliability over the years. Looking ahead, we have an opportunity to draw on the experiences of other electricity markets to meet our reliability needs more cost effectively.
Capacity auctions have been implemented by many jurisdictions with much success. Capacity auctions can achieve efficiency benefits by creating a competitive market for suppliers, increasing the system’s ability to adjust to changing supply and demand dynamics, and attracting low-cost, non-traditional capacity resources that are unlikely to be identified in the absence of a competitive auction. For suppliers, capacity auctions provide enduring and transparent mechanisms to get paid for capacity they can supply. For consumers, capacity auctions ensure that capacity is secured at lowest cost.
Get Involved
As Market Renewal will address the fundamental design issues of Ontario’s electricity marketplace, this project will be of interest to market participants and other stakeholders.
Interested parties are invited to participate in, and provide feedback on, any of the Market Renewal initiatives.
For more information about how to become involved or to provide comments on the project, please contact engagement@ieso.ca.
Schedule of Activities
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Date |
Activities |
Expected Actions |
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December 14, 2018 |
Stakeholder Feedback |
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November 16, 2018 |
Deadline for feedback on preliminary design decisions and demand curve analysis |
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October 18-19, 2018 |
Stakeholder Meeting |
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September 12, 2018 |
Stakeholder Meeting |
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July 11, 2018 |
Stakeholder Feedback |
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June 14, 2018 |
Stakeholder Meeting |
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May 17, 2018 |
Stakeholder Feedback |
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April 19, 2018 |
Stakeholder Meeting |
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April 13, 2018 |
Deadline for stakeholder feedback on materials and issues discussed at March 7th meeting Stakeholder Feedback |
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March 7, 2018 |
Stakeholder Meeting |
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February 21, 2018 |
Stakeholder Feedback |
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January 24, 2018 |
Stakeholder Meeting |
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January 8, 2018 |
ICA Feedback Template for December 4 Meeting and Feedback Deadline Reminder Stakeholder Feedback |
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December 4, 2017 |
Stakeholder Meeting - PHASE II - Options and Preliminary Decisions |
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December 4, 2017 |
Deadline for stakeholders to submit feedback on materials discussed at November 6th meeting |
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November 10, 2017 |
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November 6, 2017 |
Stakeholder Meeting PHASE II - Options and Preliminary Decisions |
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October 26, 2017 |
Stakeholder Feedback |
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September 28, 2017 |
Stakeholder Meeting - Options |
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September 13, 2017 |
Stakeholder Feedback |
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August 18, 2017
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August 16, 2017 |
Stakeholder Meeting |
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July 20, 2017 |
Stakeholder Meeting – ICA Fundamentals and Concepts |
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June 15, 2017 |
Stakeholder Meeting – ICA Fundamentals and Concepts rel="noopener noreferrer" |
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May 18, 2017 |
Stakeholder Meeting – Intro to Engagement, Overview of Design Elements and Scope |
Materials posted one week in advance of meeting |
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May 2017 |
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April 27, 2017 |
Launch Engagement and Communication |