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Prudential Review - 2013 (SE-107)

The IESO is conducting a stakeholder engagement initiative to support a review of the current real-time market prudential framework (“Prudential Review”). The Prudential Review directly affects all market participants who pay the costs of prudential support and also those who are subject to a default levy in the event of a payment default. The intent of this consultation process is to review the prudential framework, listen to any concerns from stakeholders, establish if there is any desire to make changes, and then propose appropriate recommendations to assess the potential need for change.

As a condition of purchasing energy in the real-time markets or conveying electricity through the IESO-controlled grid, a market participant must provide the IESO with prudential support to mitigate credit risk. Prudential support is vital to the market’s integrity because electricity is consumed at the moment it is generated and is not stored for future use. Therefore, it is not possible to recover electricity if the IESO does not receive payment.

The goal of this Prudential Review is to determine if the current framework provides adequate and reasonable mechanisms to manage and deal with credit risk in the real-time electricity market.

Stakeholder Engagement Plan (Draft)

Stakeholder Engagement Plan (Final)

For more information on this stakeholder initiative, please email stakeholder.engagement@ieso.ca.

Proposed Activities
Date Activities Expected Actions
November 5, 2013 Stakeholder Engagement closed.  
November 1, 2013 • Communication
Final Evaluation of Stakeholder Engagement Effectiveness
 
October 3, 2013 Final Report  
August 8, 2013 Summary of Feedback and IESO Response  
July 22, 2013 Stakeholder Feedback
Ontario Power Generation
PowerStream
Oakville Hydro
Electricity Distributors Association
Stakeholder to provide feedback on the results presentation
June 26, 2013 Stakeholder Meeting – Open Session
Presentation - Research Results
Draft research results to be posted to the SE-107 web page in advance of Session
April 17, 2013 IESO Response to Stakeholder Feedback Summary of Initial Feedback
February 28, 2013
Agenda
Stakeholder Meeting – Open Session
Presentation
Minutes
Stakeholder Feedback
Ontario Power Generation
Ontario Retailers Group
PowerStream
Materials to be provide in advance of Session, and posted to the SE-107 web page
February 7, 2013 Communicate launch of stakeholder engagement and publish stakeholder engagement plan
• Communication
Stakeholders to provide written feedback
 
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