Suspension or Termination Orders

Compliance Enforcement

MACD enforces compliance through the detection and investigation of potential breaches of the market rules. The Vice President, MACD has the authority to issue non-compliance rulings and impose sanctions, including financial penalties, when the rules have been breached. MACD also administers other rules which may result in repayments to the market.

Suspension or Termination Orders

The IESO market rules permit the IESO to suspend a market participant by issuing a suspension order if an event of default has occurred in relation to the market participant, if the market participant has not remedied an event of default within a specified time, or if the IESO has determined that a suspension order should be issued because the market participant has persistently breached the market rules.

Where the IESO has issued a suspension order, the market rules require the IESO to publish the details of the suspension order.

The IESO market rules permit the IESO to terminate a market participant by issuing a termination order if the market participant is a suspended market participant and has not remedied an event of default within a specified time, if the market participant is a suspended market participant and has notified the IESO that it is not likely to remedy the event of default that triggered the suspension order, if the market participant has been wound up, dissolved or otherwise ceased to exist, or if the IESO has determined that a termination order should be issued because the market participant has persistently breached the market rules.

Where the IESO has issued a termination order, the market rules require the IESO to publish the details of the termination order.

2023 Suspensions or Terminations

DB Energy Trading LLC: On October 17, 2023, DB Energy Trading LLC (“DBET”) was terminated from further participation in the IESO-administered markets and from causing or permitting electricity to be conveyed into, through, or out of the IESO-controlled grid. The termination order was issued in respect of the dissolution of DBET as an entity and voluntary termination of its existence in the jurisdiction of its incorporation as of June 6, 2023.
RTK WP Canada, ULC: On May 30, 2023, RTK WP Canada, ULC (“RTK”) was terminated from further participation in the IESO-administered markets and from causing or permitting electricity to be conveyed into, through, or out of the IESO-controlled grid. The termination order was issued in respect of continuing events of default by RTK, as detailed in the suspension order issued to RTK on November 30, 2017.
Maple Leaf Basin Storage LP: On January 26, 2023, Maple Leaf Basin Storage LP (“MLBS”) was suspended from further participation in the IESO-administered markets and from causing or permitting electricity to be conveyed into, through or out of the IESO-controlled grid. The suspension order was issued in respect of events of default pertaining to MLBS’s outstanding invoices and failure to satisfy a material requirement of MLBS’s participation as a metered market participant, specifically by failing to have a metering service provider as required by the Market Rules.

2017 Suspensions or Terminations

RTK WP Canada, ULC: On November 30, 2017, RTK WP Canada, ULC (“RTK”) was suspended from further participation in the IESO-administered markets and from causing or permitting electricity to be conveyed out of the IESO-controlled grid other than for reasons of health and safety of RTK’s employees and the public or for protection of the environment. The suspension order was issued in respect of failing to replace the expiring prudential support, failing to pay the pay the October 2017 invoice and continuing events of default pertaining to RTK’s outstanding margin call.