Vice President of MACD signs MOU with the U.S. Federal Energy Regulatory Commission (FERC)
December 12, 2019
Agreement promotes co-operation on market oversight and enforcement activities
Glenn McDonald, Vice President of the IESO’s Market Assessment and Compliance Division (MACD), has signed a memorandum of understanding (MOU) with FERC to encourage information-sharing and discussion of regulatory practices, including investigative processes and methods, and market monitoring and oversight activities, subject to confidentiality obligations.
“In sharing information about the markets each of us oversees, the MOU will help us better fulfill our mandates to investigate, evaluate and encourage compliance with the relevant rules,” says Glenn, who signed the agreement with FERC Chairman Neil Chatterjee earlier this week. “Fostering strong and collaborative relationships with our regulatory counterparts is central to our efforts to deliver a fair, competitive and innovative electricity marketplace.”
The MOU will help both parties better fulfill their mandates to investigate, evaluate and encourage compliance with market rules and to take appropriate enforcement actions. In recognition of the two organizations’ regulatory responsibilities and common interests, the agreement will also promote discussion of energy issues of mutual interest, joint visits, and the coordination of education and training activities.
The MOU is market-focused and does not relate to information, conduct or activities related to the enforcement of North American Electricity Reliability Corporation (NERC) reliability standards.