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The IESO Imposes Sanctions on Genset Resource Management Inc.

January 11, 2024

On December 18, 2023, the IESO entered into a settlement agreement with Genset Resource Management Inc. (“Genset”) in relation to Genset’s failure to meet operating reserve obligations, and to acknowledge and comply with dispatch instructions during the period from February 19, 2013 to December 10, 2019.

The IESO has issued an order finding Genset in breach of several market rules.  As part of the sanctions imposed for the breaches, Genset is subject to a financial penalty of $500,000 (plus applicable taxes), and a suspended penalty of $1,348,000 (plus applicable taxes) which will become payable should Genset fail to meet the terms of the settlement agreement.

More details can be found on the IESO’s website.

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