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Market Surveillance Panel
Frequently Asked Questions
- What does the MSP monitor and investigate?
- How does the MSP monitor activities and market participant conduct in the IESO-administered markets?
- Does the Market Surveillance Panel have the authority to launch an investigation on its own?
- Can market participants or other parties request the Market Surveillance Panel to launch an investigation?
- Can the Market Surveillance Panel decide not to commence or terminate an investigation once a complaint or referral has been received?
- Where can I find out more information about local market power?
- Are all market surveillance reports public documents?
- Where can I find more information?
What does the MSP monitor and investigate?
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
How does the MSP monitor activities and market participant conduct in 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.
Does the Market Surveillance Panel have the authority to launch an investigation on its own?
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 patricipant.
Can market participants or other parties request the Market Surveillance Panel to launch an investigation?
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
5. Can the Market Surveillance Panel decide not to commence or terminate an investigation once a complaint or referral has been received?
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.
6. Where can I find out more information about local market power?
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.
7. Are all market surveillance reports public documents?
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.
8. Where do I get more information?
For more information, contact the Board's Market Operations hotline:
Tel: 416-440-7604
E-mail: market.operations@oeb.gov.on.ca