The Market Surveillance Panel (MSP) monitors, investigates and reports on the activities and behaviour in the IESO-administered markets in Ontario’s electricity sector. Under the Electricity Restructuring Act, 2004, the Panel was transferred to the Ontario Energy Board in order to consolidate the Board’s oversight and regulatory mandate in Ontario’s electricity sector. The Panel’s mandate is set out in the OEB By-law #3.
The IESO and the Ontario Energy Board established a Protocol under which the IESO’s Market Assessment Unit (MAU) will continue to assist the MSP. This Protocol also ensures that the MSP continues to advise the IESO on various matters arising from the market rules and other issues relating to the market.
Monitoring the Market
In order to carry out its responsibilities, the Panel relies on the MAU to monitor the market on a daily basis to identify inappropriate or anomalous conduct by market participants, or other activities having an adverse impact on market efficiency or effective competition. The MAU identifies actions by market participants or market outcomes that fall outside of predicted patterns or norms, tries to understand the underlying causes and reports its findings for further consideration by the Panel.
Effective market monitoring requires access to the IESO’s confidential operating data. In addition to IESO data, certain confidential information is obtained directly from market participants for the exclusive and confidential use of the MSP and MAU. The Market Surveillance Data Catalogue developed in consultation with market participants, lists the types of data that market participants are required by the Market Rules to submit.
For More Information
More information about the activities of the Market Surveillance Panel is available on the OEB web site, including:
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