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Market Evolution Program

Market Evolution Program. Topics. Overview of the Market Evolution Program Consultation Plan for Phase 1. Market Evolution Program. A group of initiatives designed to move Ontario market forward over 2003/2004

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Market Evolution Program

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  1. Market Evolution Program

  2. Topics • Overview of the Market Evolution Program • Consultation Plan for Phase 1

  3. Market Evolution Program • A group of initiatives designed to move Ontario market forward over 2003/2004 • Considered together for reasons of funding, initial resourcing and to ensure they are developed in an efficient and consistent fashion • Consist of deferred features and other opportunities to improve the market identified by stakeholders and the IMO based on the first six months of operation

  4. Objectives • Improve price transparency and operational stability while ensuring reliability • Improve overall operation of IMO-administered and retail markets • Meet new legal and regulatory requirements • Consistency with Standard Market Design as far as possible

  5. Objectives • Favour options that: • use existing successfully deployed solutions • provide for speed of implementation • are adaptable to regulatory and legislative changes

  6. Initiatives • Day ahead market • Multi-interval optimization • Short term Resource Adequacy • Long term Resource Adequacy • Environmental Information Tracking • Wholesale/Retail Market Integration • Locational Marginal Pricing

  7. Approach Phase 1 • Feasibility of each initiative • Recommendation on whether and in what form initiative should proceed Phase 2 • Design (rules/procedures/system requirements) and implementation planning

  8. Jul May Jan Feb Aug Jun Phase 1 Phase 2 Sep Apr Timing of Phases Mar Apr

  9. Phase 1 Activities • Establish likely implementation approaches • Identify market operating cost implications • Identify SMD and other convergence opportunities • Stakeholder findings • Make recommendation to IMO Board

  10. Stakeholdering Jan Feb Mar Initial Fact finding Initial Report to IMO Board Phase 1 Process Recommendation to IMO Board

  11. Program Organization Steering Committee Program Manager Steve Mullins • Jason Chee-Aloy • short/long term resource adequacy • Edward Arlitt • wholesale/retail • Len Kula/Mark Wilson • day ahead market • better optimization • Hok Ng • environmental tracking • Mike Falvo • locational marginal pricing • Drew Phillips • stakeholder process

  12. Discussion Papers Week of Jan 30: • Day ahead market/Multi-interval optimization • Short Term Resource Adequacy Week of Feb 21: • Wholesale/Retail Integration Week of Mar 14: • Long Term Resource Adequacy • Environmental Tracking

  13. Short Term Resource Adequacy • Measures for this summer • Coordinating exercise includes looking at current initiatives, such as the hour ahead dispatchable load, as well as new ones

  14. Locational Marginal Pricing • Initial data analysis to begin early March • Report on nodal price behaviour up to this point in market operation completed early April • No implementation until October 2004 at the earliest

  15. Wholesale/Retail Issues under investigation: • A more accurate assignment of a portion of the wholesale market prudential risk to the underlying sources of financial risk • Opening the door to future demand response products that retail customers can participate in while providing a reliability benefit • Ensuring that wholesale/retail market boundary keeps pace with emerging technologies such as retail-level interval metering and microgeneration

  16. MEP Phase 1: Consultation Plan

  17. Scope • Set out objectives, activities and timelines to facilitate stakeholder input to Phase 1 • Develop a consultation plan to be used for Phase 2 • Use consultation framework of Market Advisory Council, its Standing Committees and other forums as per the Consultation Handbook

  18. Objectives • Awareness and education • Opportunity and access to information • Issue identification and consensus building • Feedback and documentation

  19. Challenges • Short timelines in some cases (e.g. short term resource adequacy) • Infrequently scheduled MAC and Standing Committee meetings

  20. Proposed Solution • Centralized repository for all MEP documents - Market Evolution Program web page • Email notification to MAC members when new information is posted • Email IMO.Consultation@theimo.com with comments • Call dedicated IMO consultation support line to discuss/explain further (905-403-6931)

  21. What will be posted? • Discussion papers/current thinking • Background information • Any IMO Board decisions affecting the MEP • Any presentations given to stakeholder groups during the consultation • Presentations will be available for viewing (with audio) using Windows Media Player

  22. Phase 2 Consultation Plan • Looking for volunteers to form a working group to develop a Phase 2 Consultation Plan • Draft plan for presentation at Feb 18 MAC • Final plan available by Mar 5 MOSC

  23. References • MEP Phase 1 Consultation Plan • Market Evolution Program Definition Document

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