The IESO enters into Settlement Agreements with Six Market Participants
July 27, 2023
The IESO has entered into settlement agreements with Grand Bend Wind Limited Partnership, Iroquois Falls Power Corp. (“IFPC”), Kingston Cogen Limited Partnership, Kirkland Lake Power Corp. (“KLPC”), Thorold CoGen L.P. (“Thorold”) and Cochrane Power Corporation in relation to a variety of matters previously under investigation.
The settlement agreements are the result of an expedited case resolution process initiated by the Market Assessment and Compliance Division (MACD) of the IESO.
MACD found that the market participants had breached the Market Rules in various respects, including KLPC, IFPC and Thorold that failed to comply with certain operating reserve activations over the period between February 2015 to December 2021, KLPC that did not submit outage slips in a prompt manner; and various market participants that violated various North American Electric Reliability Corporation reliability standards.
Respective financial penalties have been issued, and in total, the market participants have agreed to pay the overall amount of $359,500.00 to settle the matters.
MACD acknowledges that the market participants showed accountability and voluntarily cooperated in resolving these matters as part of an expedited case resolution process.
More details can be found on the IESO’s website.