The IESO is proposing a correction to the formulas in Economic Operating Point (EOP) Market Rules and related tools to ensure continued accuracy and consistency of Real-Time Make Whole Payments (RT MWP). As a result of the ongoing monitoring of the renewed market, the IESO has identified a specific RT MWP scenario in which RT MWP are paid inaccurately. This scenario is related to the interaction between de-rates and RT lost cost (LC) EOP for PSUs. The dispatch scheduling optimizer calculations, scheduling and pricing are correct; however, adjustments are required to LC EOP calculations.
Throughout this Engagement, stakeholders, will have an opportunity to share perspectives with the IESO on the proposed amendment.
The IESO will provide an overview of the proposed correction to the formulas in Economic Operating Point (EOP) Market Rules and related tools to ensure continued accuracy and consistency of Real-Time Make Whole Payments (RT MWP). the IESO has identified a specific RT MWP scenario in which RT MWP are paid inaccurately. This scenario is related to the interaction between de-rates and RT lost cost (LC) EOP for PSUs.
