Market Renewal Newsletter-June Update
June 4, 2020
Introducing our Market Renewal newsletter
Thank you for signing up to receive updates on the Independent Electricity System Operator's (IESO) Market Renewal Program (MRP). This newsletter will round up information shared through our various channels to make it easy for you to learn about upcoming engagement meetings, find out what work is underway, actions expected from you (when stakeholder feedback is due or where advice is needed to guide implementation activities) and other IESO updates. If there's content you'd like to see, or any feedback on this issue, please email market.renewal@ieso.ca.
From the desk of...
Shawn Cronkwright, Director, Energy Design and Implementation
Welcome to the first issue of the IESO's MRP newsletter.
You may be wondering if COVID-19 has had any impacts to MRP. Even though the MRP team has transitioned to work from home for the time being, I’m happy to report that work is on track and we’re not seeing significant impacts in our project schedule, but we will continue to monitor and advise if there are any. The team continues to work on the detailed design as well as prepare for the implementation phase of the program. There’s never a quiet moment over here.
As we progress into the next phase of the program we know the volume of work will be ramping up so we want this newsletter to give you a snapshot of what the team is working on and most importantly to make it easy for you to get the information you need and make sure upcoming meetings or activities are on your radar.
We’ll keep you regularly in the loop of any developments with the program and continue with our updates, through this newsletter and through stakeholder engagement opportunities. We are looking forward to the next chance to hear any questions from you to help guide your review of the detailed design documents at the next Stakeholder Engagement Framework days June 24-26 as well as in this newsletter.
Looking forward to continuing the dialogue as we carry on down the road to make the Market Renewal Program a reality, and bring efficiency and operational benefits to market participants and ratepayers in Ontario.
Regards,
Shawn
What we're working on
In May, we posted four more detailed design documents for stakeholder review and comment marking the 10th of 13 documents to be released.
- Offers, Bids and Data Inputs: This document describes the data inputs from market participants and the IESO that are required to produce schedules, commitments, dispatch instructions and prices.
- Grid and Market Operations Integration: This document describes how the processes to schedule, commit and dispatch resources are integrated to administer the energy and operating reserve markets, and to ensure system adequacy and reliability.
- Market Power Mitigation: This document describes the details of the market power mitigation framework that will apply in the day-ahead, pre-dispatch and real-time operating timeframes.
- Market Settlement: This document describes how the IESO will calculate market participant settlement amounts.
We’re looking for comments on these and have scheduled engagement sessions to help inform feedback on these design documents. More information on upcoming sessions, including agenda, materials and how to register will be available on the engagement web page.
Behind the scenes we’re working on our plans for drafting and engaging on the market rules and market manuals. We’ll be keeping you posted when those sessions will be scheduled and how you can stay engaged in the development and review of those products.
Related IESO news
Launch of new Stakeholder Engagement Framework days
The IESO has moved to a new format to hold all stakeholder engagements on a regular schedule every month. The meetings will be offered online as webinars, consistent with the IESO’s pandemic response measures. The first engagement days under the new framework were held on May 20 and 21. If you didn’t have a chance to participate, you can view the materials presented.
COVID-19 updates
The coronavirus pandemic has required changes to the way we all do business. The IESO is closely monitoring demand, revising forecasts, and responding to changing system needs. Learn about how COVID-19 has impacted electricity usage in Ontario.
Reminders
Stakeholder feedback on the May batch of documents is due by July 31. You can read the documents, download the feedback forms and email them to engagement@ieso.ca.
Key dates
• June 23 – MRP education item at the Technical Panel Meeting
• June 24-26 – MRP update at the Stakeholder Engagement Days
• July 27 – Day-Ahead Market, Pre-Dispatch and Real-Time Calculation Engine documents to be posted
• July 31 – Stakeholder feedback due: Market Power Mitigation, Offers, Bids and Data Inputs, Market Settlement and Grid and Market Operation Integration
Did you know?
The current day-ahead commitment process will be replaced with a new day-ahead market. Day-ahead markets allow participating resources to lock in price for energy and operating reserve a day in advance of operation. Typically, most participating resources are scheduled in the day-ahead market and the real-time market is used to balance any deviations that occur between day-ahead and real-time. The day-ahead market is a key feature to be launched when MRP goes live in 2023.