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Sector Participants > Engagement Initiatives > Engagements > Transmission Rights Market Enhancement and Platform Refresh

Transmission Rights Market Enhancement and Platform Refresh

Operations

The Ontario Transmission Rights (TR) market was established at market opening in 2002. TRs were introduced as a risk management tool to enable traders to hedge the financial risks associated with uncertain congestion at the interties. To facilitate the sale of TRs the IESO and participants utilize the TR auction platform available on the IESO gateway. The TR auction platform is based on older technology that is not being advanced and doesn’t align with existing IESO platforms. The IESO will be updating the TR auction platform and the user interface to align with current software.

The IESO received recommendations and feedback regarding potential inefficiencies of the TR market observed by the Ontario Energy Board's Market Surveillance Panel (MSP). The MSP also emphasized the importance of continuous improvements to the current market design while the Market Renewal Program (MRP) is underway. One of the improvements identified through the IESO’s TR Market Review (completed June 2021) was enhancing the auction to enable multiple bid laminations to improve the efficiency, value and function of the TR market today and in the future.

The IESO is engaging with market participants and other interested parties on this refresh and enhancement to ensure an open and transparent process prior to IESO Technical Panel review of Market Rules.

The IESO encourages all market participants to participate in this engagement. All comments and enquiries on this engagement can be directed to engagement@ieso.ca.

Schedule of Activities

Anticipated timing for this engagement is presented below.

Date Engagement Activity Expected Actions

November 30, 2023

Feedback due on the materials and topics presented at the November 15th Transmission Rights Market Enhancement and Platform Refresh webinar.

November 15, 2023

Engagement webinar

The IESO will review and seek feedback on the proposed enhancements and associated market rule changes prior to IESO Technical Panel review.

Recorded Presentation

July 26, 2023

Engagement webinar

Inform Transmission Rights (TR) auction participants of upcoming changes to the TR Auction platform, including scope of changes, impacts to Market Participants, and estimated timing of milestones and implementation.

Recorded Presentation

This webinar was presented during the IESO's July engagement sessions, see full agenda for more information.

July 6, 2023

Engagement Launched