Operations
The Ontario Transmission Rights (TR) market was established at market opening in 2002. TRs were introduced as a risk management tool to enable traders to hedge the financial risks associated with uncertain congestion at the interties. To facilitate the sale of TRs the IESO and participants utilize the TR auction platform available on the IESO gateway. The TR auction platform is based on older technology that is not being advanced and doesn’t align with existing IESO platforms. The IESO will be updating the TR auction platform and the user interface to align with current software.
The IESO received recommendations and feedback regarding potential inefficiencies of the TR market observed by the Ontario Energy Board's Market Surveillance Panel (MSP). The MSP also emphasized the importance of continuous improvements to the current market design while the Market Renewal Program (MRP) is underway. One of the improvements identified through the IESO’s TR Market Review (completed June 2021) was enhancing the auction to enable multiple bid laminations to improve the efficiency, value and function of the TR market today and in the future.
The IESO is engaging with market participants and other interested parties on this refresh and enhancement to ensure an open and transparent process prior to IESO Technical Panel review of Market Rules.
The IESO encourages all market participants to participate in this engagement. All comments and enquiries on this engagement can be directed to engagement@ieso.ca.
The following activities are intended for registered TR Market Participants.
| Date | Market Participant Readiness Activity | Expected Actions |
|---|---|---|
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April 25, 2024 – May 8, 2024 |
Baseline Document Review The redlined version of the Market Facing Documents related to the Transmission Rights Auction will be posted on the Pending Changes page and available for Market Participant review. Click the link below to access the pending documents. These, in addition to amended Market Rules, will be helpful to support the Connectivity Testing and Market Trials. |
Review documents and follow instructions on Pending Documents page to provide feedback. |
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May 8, 2024 |
Q&A Session for TR Market Participants The IESO will hold a Q&A session to discuss questions that may arise while completing the E-Learning Module, that was released on April 17th, and reviewing the Market Participant Test Plan for the market trials. |
Complete the E-Learning Module; and the review of the Kickoff meeting material prior to May 8 Q&A session. Submit your questions to IESO in advance of the Q&A session by May 2nd, 2024 to customer.relations@ieso.ca |
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May 13, 2024 – May 31, 2024 |
Connectivity Testing and Market Trials in Sandbox Connectivity Testing is the initial phase of Market Participant Testing. Market Trials is the second phase of Market Participant Testing, which will begin after Connectivity Testing ends. Refer to the Market Participant Test Plan for details on the scope of testing.
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Complete connectivity testing in sandbox. Participate in market trials testing in sandbox. If necessary, submit the Defect Log Template to customer.relations@ieso.ca Q&A Session Presentation for Market Trial Readiness Testing (Week 1) Q&A Session Presentation for Market Trial Readiness Testing (Week 2) Q&A Session Presentation for Market Trial Readiness Testing (Week 3) |
Anticipated timing for this engagement is presented below.
| Date | Engagement Activity | Expected Actions |
|---|---|---|
|
November 30, 2023 |
Feedback due on the materials and topics presented at the November 15th Transmission Rights Market Enhancement and Platform Refresh webinar. |
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November 15, 2023 |
Engagement webinar The IESO will review and seek feedback on the proposed enhancements and associated market rule changes prior to IESO Technical Panel review. |
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July 26, 2023 |
Engagement webinar Inform Transmission Rights (TR) auction participants of upcoming changes to the TR Auction platform, including scope of changes, impacts to Market Participants, and estimated timing of milestones and implementation. |
This webinar was presented during the IESO's July engagement sessions, see full agenda for more information. |
|
July 6, 2023 |
Engagement Launched |
