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Participant News
IESO Board of Directors Approves Proceeding with Enhancements to Day-Ahead Mechanisms
September 12, 2008 |
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The IESO Board of Directors has endorsed management's recommendations to proceed with the enhanced day-ahead commitment processes. In making its decision on Friday, September 5, the Board considered stakeholder feedback and the advice it received from the Stakeholder Advisory Committee. See attached link: http://www.ieso.ca/imoweb/pubs/consult/se21/se21-20080905-Board_Decision-DAM.pdf
With the Board decision, the IESO will now proceed with stakeholders to finalize the design and begin implementation of the common elements, guarantees and export inclusion associated with Options 1 and 2 in the Day-Ahead Market Evolution Preliminary Assessment. This project is tentatively scheduled to begin market trials in mid 2010. The IESO will continue to review the Energy Forward Market alternatives and report back to the Board later this year.
"The study and discussion with stakeholders of day-ahead market design issues has deepened everyone's appreciation of the difficulties faced in attempting to evolve the market in the face of unconstrained price-setting in the existing real-time market, said IESO President and CEO Paul Murphy. "With this decision taken, the IESO will continue to work with participants and Stakeholder Advisory Committee members to improve the current real time pricing model."
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