The IESO oversees the settlement of the electricity market, global adjustment, and various programs ensuring cash receipts match cash disbursements. The IESO utilizes the credit facility to manage the temporary timing differences between cash receipts and disbursements that may occur in the process. As a part of the IESO's tri-annual renewal of the credit facility, the IESO is now required to pay standby fees on the unutilized balance of the credit facility. While new to the IESO, standby fees are standard practice for debt arrangements.
The proposed Market Rule amendments establish a mechanism to recover the associated financing costs to manage the credit facility from market participants.
All comments and enquiries on this engagement can be directed to engagement@ieso.ca.
