The MSP, with the support of the IESO's market assessment unit, monitors and investigates activities within the IESO-administered markets and the conduct of market participants relating to:
- inappropriate market conduct, including possible abuses of market power and gaming
- design flaws and inefficiencies in the market rules and other rules and procedures of the IESO
- design flaws in the overall structure of the IESO-administered markets
The MSP is supported by the IESO's market assessment unit, which has developed a sophisticated surveillance data repository to monitor activities and market participant conduct in the IESO-administered markets. Internal and external data will be aggregated on a frequent and timely basis by the market surveillance system. This data is used as the first step to assess market activity and market participant conduct.
The Market Surveillance Panel does not require prior concurrence when launching an investigation into any activity related to the IESO-administered markets or the conduct of a market participant.
Any person requesting an investigation into market activities or conduct may do so by setting out in writing:
- the name and address of the complainant or person referring the matter
- the particulars of the complaint or referral
- any information or facts supporting the complaint or referral
- the signature of the person making the complaint or referral or the signature of an officer or duly authorized representative of the person
The Market Surveillance Panel may refuse to commence or decide to terminate an investigation because the complaint or referral is either: frivolous, vexatious or not material, or because it is within the jurisdiction of another person, board, agency or tribunal. A decision by the Panel not to commence or continue an investigation is subject to review by the Chair of the OEB.
The IESO has a process in place to mitigate the effect of Local Market Power. Market Manual 2.12: Treatment of Local Market Power provides detailed information about the local market power mitigation process and the price screening mechanism used to determine compensation for power generators affected by congestion of the grid.
Market surveillance reports will be published in accordance with the OEB's Bylaw #3. Reports may be edited to remove confidential information before being made public.
For more information, contact OEB Industry Relations:
Tel: 416-440-7604 or 1-888-632-6273 (toll-free)