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Real-Time and Day-Ahead Generation Cost Guarantees (SE-80)

In the IESO’s review of the Spare Generation On-Line (SGOL) program, it became evident that certain aspects of both the existing real-time generator cost guarantee and the existing day-ahead generator cost guarantee are resulting in economically inefficient market outcomes. 

Preliminary analysis suggests it is advisable to make changes to correct these inefficiencies for the following reasons:

  1. The IESO cost of making these changes is relatively small.

  2. The IESO expects analysis will show that the efficiency gains realized over a two-year period by making these changes would be materially in excess of the cost and hence would represent a material net benefit to the market.

  3. Making these changes now would allow enough time to evaluate the improvements and the need for, or value of, the SGOL program and make any long-term changes in time for the implementation of the Enhanced Day-Ahead Commitment (EDAC) process. 

Correcting these inefficiencies aligns with the Market Surveillance Panel (MSP) January 2009 Report, which recommended the IESO consider changes to the method of calculating guarantees to:

  • improve the effectiveness of day-ahead scheduling decisions; and
  • increase Operating Reserve offers by gas fired generators.


Proposed Activities
Date
Agenda/Minutes
Supporting Material Expected Actions
February 10, 2010
Session Notes
Communication
• MR-00356 Generator Cost Guarantees - Implementation (Revised)
Stakeholder Feedback
• Summary of Session Feedback
Provide explanation to stakeholders on MR-00356
January 20, 2010
Agenda
Information session on various operational scenarios with settlement treatment
Stakeholder Feedback
• Summary of Session Feedback
Provide explanation to stakeholders on MR-00356
October 2, 2009 Final Summary of Stakeholder Engagement Effectiveness Stakeholder engagement process closed off
September 11, 2009 Board of Directors decision on Market Rule amendment MR-00356
IESO to post Board decision
August 18, 2009 Technical Panel meeting to vote on MR-00356 along with comments from stakeholders
Vote by Technical Panel
July 21, 2009 Technical Panel meeting to consider MR-00356 along with comments from stakeholders
Stakeholders to provide input
June 10, 2009
Agenda
Session Notes
Stakeholder Meeting
• Interim Changes to Real Time and Day-Ahead Generator Cost Guarantees
Stakeholder Feedback
• Summary of Session Feedback
Dialogue – Stakeholders to provide input
April - June, 2009 Technical Panel meetings
• MR 00356
Board approval of market rule amendment

May 13, 2009
Agenda
Session Notes

Stakeholder Meeting
• Interim Changes to Real Time and Day-Ahead Generator Cost Guarantees
• Combined Cycle Generation Overview
Stakeholder Feedback
• Summary of Session Feedback
Dialogue – Stakeholders to provide input
April 8, 2009
Agenda
Session Notes
Announcement on Stakeholder Meeting
• Presentation
Stakeholder Feedback
• Summary of Session Feedback
Dialogue – Stakeholders to provide input
March 6, 2009
• Email - Survey Responses Requested for Generation Cost Guarantees
• Participant Cost Survey
Stakeholders to provide input
February 29, 2009 Technical Panel Meeting
• Cover Memo
• Discussion Paper
• Presentation
Dialogue – Technical Panel to provide input
 
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