Panel reports

• Market Surveillance Panel State of the Market Report 2022 (pdf) (released December 21, 2023)
  • Cover Letter from the Market Surveillance Panel to Susanna Zagar, Chief Executive Officer, OEB (pdf) (Dec 14, 2023)
  • Letter from Susanna Zagar, Chief Executive Officer, OEB to Lesley Gallinger, President and Chief Executive Officer, IESO (pdf) (Dec 19, 2023)
• Market Surveillance Panel Monitoring Report 37 (pdf) (released Mar 28, 2023)
  • Cover Letter from the Market Surveillance Panel to Susanna Zagar, Chief Executive Officer, OEB (pdf) (Mar 17, 2023)
  • Letter from Susanna Zagar, Chief Executive Officer, OEB to Lesley Gallinger, President and Chief Executive Officer, IESO (pdf) (Mar 22, 2023)
• Market Surveillance Panel Monitoring Report 36 (pdf) (released Mar 17, 2022)
  • Cover Letter from the Market Surveillance Panel to Susanna Zagar, Chief Executive Officer, OEB (pdf) (Mar 10, 2022)
  • Letter from Susanna Zagar, Chief Executive Officer, OEB to Lesley Gallinger, President and Chief Executive Officer, IESO (pdf) (Mar 10, 2022)
• Market Surveillance Panel Monitoring Report 35 (pdf) (released Sep 2, 2021)
  • Cover Letter from Glenn Leslie, Chair, MSP to Susanna Zagar, Chief Executive Officer, OEB (pdf) (Aug 24, 2021)
  • Letter from Susanna Zagar, Chief Executive Officer, OEB to Lesley Gallinger, President and Chief Executive Officer, IESO (pdf) (Aug 24, 2021)
  • Letter from Lesley Gallinger, President and Chief Executive Officer, IESO to Susanna Zagar, Chief Executive Officer, OEB (pdf) (Sep 22, 2021)
• Market Surveillance Panel Monitoring Report 34 (pdf) (released Feb 11, 2021)
  • Cover Letter from Glenn Leslie, Chair, MSP to Susanna Zagar, Chief Executive Officer, OEB (pdf) (Jan 27, 2021)
• Market Surveillance Panel Monitoring Report 33 (pdf) (released Dec 17, 2020)
  • Cover Letter from Glenn Leslie, Chair, MSP to Susanna Zagar, Chief Executive Officer, OEB (pdf) (Dec 10, 2020)
  • Letter from Susanna Zagar, Chief Executive Officer, OEB to Terry Young, Interim President and CEO, IESO (pdf) (Dec 10, 2020)
  • Letter from Terry Young, Interim President and CEO, IESO to Susanna Zagar, CEO, OEB (pdf) (Jan 11, 2021)
• Market Surveillance Panel Monitoring Report 32 (pdf) (released Jul 30, 2020)
  • Cover Letter from Glenn Leslie, Chair, MSP to Robert Dodds, Vice Chair, OEB (pdf) (Jul 21, 2020)
  • Letter from Robert Dodds, Vice Chair, OEB to Peter Gregg, President and CEO, IESO (pdf) (Jul 21, 2020)
  • Letter from Peter Gregg, President and CEO, IESO to Robert Dodds, Vice Chair, OEB (pdf) (Aug 20, 2020)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2017 to October 2017 (pdf) (released Dec 19, 2019)
  • Cover Letter from Glenn Leslie, Chair, MSP to Robert Dodds, Vice Chair, OEB (pdf) (Dec 13, 2019)
  • Letter from Robert Dodds, Vice Chair, OEB to Peter Gregg, President and CEO, IESO (pdf) (Dec 13, 2019)
  • Letter from Peter Gregg, President and CEO, IESO to Robert Dodds, Vice Chair, OEB (pdf) (Jan 13, 2020)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2016 to April 2017 (pdf) (released Apr 29, 2019)
  • Cover Letter from Glenn Leslie, Chair, MSP to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Mar 27, 2019)
  • Letter from Rosemarie T. Leclair, Chair & CEO, OEB to Peter Gregg, President and CEO, IESO (pdf) (Mar 29, 2019)
  • Letter from Peter Gregg, President and CEO, IESO to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Apr 29, 2019)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2016 to October 2016 (pdf) (released Mar 22, 2018)
  • Cover Letter from Glenn Leslie, Chair, MSP to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Feb 23, 2018)
  • Letter from Rosemarie T. Leclair, Chair & CEO, OEB to Peter Gregg, President and CEO, IESO (pdf) (Feb 23, 2018)
  • Letter from Peter Gregg, President and CEO, IESO to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Mar 26, 2018)
  • Letter from Peter Gregg, President and CEO, IESO to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (May 29, 2018)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2015 to April 2016 (pdf) (released May 8, 2017)
  • Cover Letter from Glenn Leslie, Chair, MSP to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (May 2, 2017)
  • Letter from Rosemarie T. Leclair, Chair & CEO, OEB to Bruce Campbell, President and CEO, IESO (pdf) (May 2, 2017)
  • Letter from Bruce Campbell, President and CEO, IESO to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (May 30, 2017)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2015 to October 2015 (pdf) (released Nov 17, 2016)
  • Cover Letter from Glenn Leslie, Chair, MSP to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Nov 3, 2016)
  • Letter from Rosemarie T. Leclair, Chair & CEO, OEB to Bruce Campbell, President and CEO, IESO (pdf) (Nov 4, 2016)
  • Letter from Bruce Campbell, President and CEO, IESO to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Dec 14, 2016)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2014 to April 2015 (pdf) (May 12, 2016)
  • Cover Letter from Glenn Leslie, Chair, MSP to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (May 5, 2016)
  • Letter from Rosemarie T. Leclair, Chair & CEO, OEB to Bruce Campbell, President and CEO, IESO (pdf) (May 5, 2016)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2014 to October 2014 (pdf) (Oct 8, 2015)
  • Cover Letter from Glenn Leslie, Chair, MSP to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Oct 3, 2015)
  • Letter from Rosemarie T. Leclair, Chair & CEO, OEB to Bruce Campbell, President and CEO, IESO (pdf) (Oct 5, 2015)
  • Letter from Bruce Campbell, President and CEO, IESO to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Nov 3, 2015)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2013 to April 2014 (pdf) (Apr 20, 2015)
  • Cover Letter from Glenn Leslie, Chair, MSP to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Apr 13, 2015)
  • Letter from Rosemarie T. Leclair, Chair & CEO, OEB to Bruce Campbell, President and CEO, IES) (pdf) (Apr 13, 2015)
    • Letter from Bruce Campbell, President and CEO, IESO to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (May 5, 2015)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2013 to October 2013 (pdf) (Sep 24, 2014)
  • Cover Letter from Glenn Leslie, Chair, Market Surveillance Panel to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Sep 17, 2014)
  • Letter from Rosemarie T. Leclair, Chair, Ontario Energy Board to Bruce Campbell, President and Chief Executive Officer, Independent Electricity System Operator (pdf) (Sep 17, 2014)
    • Letter from Bruce Campbell, President and Chief Executive Officer, Independent Electricity System Operator to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Oct 15, 2014)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2012 to April 2013 (pdf) (Jan 6, 2014)
  • Cover Letter from Glenn Leslie, Chair, Market Surveillance Panel to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Jan 2, 2014)
  • Letter from Rosemarie T. Leclair, Chair, Ontario Energy Board to Bruce Campbell, President and Chief Executive Officer, Independent Electricity System Operator (pdf) (Jan 3, 2014)
    • Letter from Bruce Campbell, President and Chief Executive Officer, Independent Electricity System Operator to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Jan 31, 2014)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2012 to October 2012 (pdf) (Jun 21, 2013)
  • Cover Letter from Bill Rupert, Acting Chair, Market Surveillance Panel to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Jun 19, 2013)
  • Letter from Rosemarie T. Leclair, Chair, Ontario Energy Board to Bruce Campbell, President and Chief Executive Officer, Independent Electricity System Operator (pdf) (Jun 20, 2013)
    • Letter from Bruce Campbell, President and Chief Executive Officer, Independent Electricity System Operator to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Jul 17, 2013)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2011 to April 2012 (pdf) (Jan 14, 2013)
  • Cover Letter from Bill Rupert, Acting Chair, Market Surveillance Panel to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Jan 14, 2013)
  • Letter from Rosemarie T. Leclair, Chair, Ontario Energy Board to Paul Murphy, President and Chief Executive Officer, Independent Electricity System Operator (pdf) (Jan 14, 2013)
    • Letter from Paul Murphy, President and Chief Executive Officer, Independent Electricity System Operator to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Feb 12, 1013)
    • Letter from Paul Murphy, President and Chief Executive Officer, Independent Electricity System Operator to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Feb 21, 1013)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2011 to October 2011 (pdf) (Apr 27, 2012)
  • Letter from Rosemarie T. Leclair, Chair, Ontario Energy Board to Paul Murphy, President and Chief Executive Officer, Independent Electricity System Operator (pdf) (May 22, 2012)
    • Letter from Paul Murphy, President and Chief Executive Officer, Independent Electricity System Operator to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Jun 20, 2012)
  • Letter from Rosemarie T. Leclair, Chair, Ontario Energy Board to Colin Andersen, Chief Executive Officer, Ontario Power Authority (pdf) (May 22, 2012)
    • Letter from Colin Andersen, Chief Executive Officer, Ontario Power Authority to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Jun 18, 2012)
    • Letter from Colin Andersen, Chief Executive Officer, Ontario Power Authority to Rosemarie T. Leclair, Chair, Ontario Energy Board (pdf) (Dec 6, 2012)
      • Excerpt of Freeman, Sullivan and Co. report prepared for the Ontario Power Authority (pdf)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2010 to April 2011 (pdf) (Nov 16-11)
  • Letter from Rosemarie T. Leclair, Chair, Ontario Energy Board to Paul Murphy, President and Chief Executive Officer, Independent Electricity System Operator (pdf) (Nov 16, 2011)
  • Letter from Paul Murphy, President and Chief Executive Officer, Independent Electricity System Operator to Cynthia Chaplin, Chair, Ontario Energy Board (pdf) (Dec 15, 2011)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2010 to October 2010 (pdf) (Mar 10-11)
  • Letter from Cynthia Chaplin, Chair, Ontario Energy Board to Paul Murphy, President and Chief Executive Officer, Independent Electricity System Operator (pdf) (Mar 4, 2011)
  • Letter from Paul Murphy, President and Chief Executive Officer, Independent Electricity System Operator to Cynthia Chaplin, Chair, Ontario Energy Board (pdf) (Mar 24, 2011)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2009 to April 2010 (pdf) (Aug 30-10)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2009 to October 2009 (pdf) (Jan 29-10)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2008 to April 2009 (pdf) (Jul 31-09)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2008 to October 2008 (pdf) (Jan 30-09)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2007 to April 2008 (pdf) (Jul 25-08)
  • Executive Summary (pdf)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2007 to October 2007 (pdf) (Jan 15-08)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2006 to April 2007 (pdf) (Aug 10-07)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2006 to October 2006 (pdf) (Dec 22-06)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2005 to April 2006 (pdf) (Jun 14-06)
  • Errata (pdf) (released Jun 20-06)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from May 2005 to October 2005 (pdf) (released Dec 13-05)
• Statistical Appendix (pdf)
• Monitoring Report on the IESO-Administered Electricity Markets for the period from November 2004 to April 2005 (pdf) (released Jun 9-05)
• Statistical Appendix (pdf)
• Monitoring Report on the IMO-Administered Electricity Markets, May 2004 – October 2004 (pdf) (released Dec 13-04)
• Monitoring Report on the IMO-Administered Electricity Markets, November 2003 – April 2004 (pdf) (released Jun 14-04)
• Monitoring Report on the IMO-Administered Electricity Markets for the First Eighteen Months (May 2002 – October 2003) (pdf) (released Dec 17-03)
• Monitoring Report on the IMO-Administered Electricity Markets for the Period From September 2002 to January 2003 (pdf) (released Mar 24-03)
• Monitoring Report on the IMO-Administered Electricity Markets for May to August 2002 (pdf) (released Oct 7-02)

The Market Surveillance Panel also publishes its findings relating to investigations.

• Report on an Investigation into the Electricity Trade Agreement between the Ontario IESO and Hydro-Québec (pdf) (released Dec 13, 2018)
  • Cover Letter from Glenn Leslie, Chair, MSP to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Sep 24, 2018)
• Report on an Investigation into Goreway Station Partnership (pdf) (released Nov 2, 2017)
  • Cover Letter from Glenn Leslie, Chair, MSP to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Oct 2, 2017)
• Report on an Investigation into Possible Gaming Behaviour Related to Congestion Management Settlement Credit Payments by Abitibi-Consolidated Company of Canada and Bowater Canadian Forest Products Inc. (pdf) (Feb 2015)
  • Letter from MSP Chair to OEB Chair & CEO (pdf) (Feb 9-15)
  • Letter from OEB Chair & CEO to IESO President & CEO (pdf) (Aug 20-15)
    • Letter from IESO President & CEO to OEB Chair & CEO (pdf) (Sep 18-15)
• Report on an Investigation into Possible Gaming Behaviour Related to Congestion Management Settlement Credit Payments by Greenfield Energy Centre LP (pdf) (Jul 17-14)
  • Letter from MSP Chair to OEB Chair & CEO (pdf) (Jul 17-14)
• Report on an Investigation into Possible Gaming Behaviour Related to Infeasible Import Transactions Offered by TransAlta Energy Marketing Corp. on the Manitoba-Ontario Intertie (pdf) (Oct 22-12)
• Report on an Investigation into Possible Gaming Behaviour Related to Infeasible Import Transactions Offered by West Oaks NY/NE, LP on the Manitoba-Ontario Intertie (pdf) (Oct 22-12)
• Report on an Investigation into Allegations of Withholding of Coal-Fired Generation (pdf) (Aug 30-11)
• Decision on the Request to Investigate the Bruce Power Unit G6 Outage (pdf) (Jan 13-03)

The Panel has conducted reviews in relation to issues that affect the market as a whole.

• Report - The Industrial Conservation Initiative: Evaluating its Impact and Potential Alternative Approaches (pdf) (released Dec 18, 2018)
  • Cover Letter from Glenn Leslie, Chair, MSP to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Dec 17, 2018)
  • Letter from Cam Carver, Director, NRG Peaks Corp to Rosemarie Leclair, Chair & CEO, OEB (pdf) (Jan 8, 2019)
  • Letter from Glenn Leslie, Chair, MSP to Cam Carver, Director, NRG Peaks Corp (pdf) (Feb 14, 2019)
• Report - Congestion Payments in Ontario’s Wholesale Electricity Market: An Argument for Market Reform (pdf) (Dec 2016)
  • Cover Letter from Glenn Leslie, Chair, MSP to Rosemarie T. Leclair, Chair & CEO, OEB (pdf) (Dec 20, 2016)
  • Letter from Rosemarie T. Leclair, Chair & CEO, OEB to Bruce Campbell, President and CEO, IESO (pdf) (Dec 22, 2016)
• Report on Congestion Issues (pdf) (July 3-03) 
  At the July 3, 2003 meeting of the IESO Board, the Market Surveillance Panel presented its report entitled "Constrained Off Payments and Other Issues in the Management of Congestion". The Board discussed the report, endorsed the recommendations and asked IESO Management to take action to implement them in on-going consultation with the Board. With respect to the elimination of constrained off payments, the Board agreed to address this issue if the Panel brings it forward at a later date.
  • Comments By IMO Board Member Bill Taylor (pdf)
• Report on Proposed Changes to IMO Information Confidentiality Catalogue (pdf) (April 1-03) 
  The Panel was asked to assess the impact of releasing market data relating to unit specific generation output in near-real time, as well as planned and historic outages and maintenance of generators, aggregated by fuel type. It based its assessment on whether disclosure would increase or decrease the effectiveness of competition. The Panel concluded that concerns about releasing unit specific output information were not significant enough to warrant not releasing the information, given the present stage of the market's development. The Panel determined that the market data should be released at least an hour after dispatch, and that the impacts should be monitored as the market evolves.