Job Summary:
Please note that this MACD position is expected to be rotated onto the Market Renewal Program for up to 36 months to support the detailed design and implementation of the IESO's revised market power mitigation framework.
Reporting to the Supervisor - Market Power Mitigation, this position assists in the implementation the core functions related to market power mitigation in the energy and ancillary service ("energy") markets and capacity auction.
These functions include assistance in designing, amending and administering processes related to the detection and prevention of the exercise of market power via economic and/or physical withholding. This includes the determination and audit of facility specific cost-based reference levels and capacity offer caps, ex-post review of mitigation results requested by participants, an assessment of delist requests from the capacity auction, as well as ongoing efforts to oversee, review and refine the automated (and non-automated) processes.
This position assists in carrying out all operational processes related to this core IESO function, as well as assisting the development, maintenance and adherence to an operational framework governing those processes.
Key Responsibilities:
Energy Market - Economic and Physical Withholding
- Assist in the implementation of the framework governing how the IESO will guard against the exercise of market power through economic withholding in the energy markets.
- Contribute to the processes that include; the determination of resource specific reference levels for energy, start-up costs, speed-no-load and other non-price parameters, conduct and impact test thresholds, the definition of constrained areas and uncompetitive interties and administering processes that allow participants to request and, where appropriate, revise reference levels.
- Assist in the execution of the IESO's dispute resolution procedures which may include good faith negotiations, mediation, arbitration, and/or appeal hearings before the Ontario Energy Board or the provincial courts.
- Contribute to the processes that the IESO will use to guard against the exercise of market power through physical withholding in the energy markets which may include the determination of resource specific reference quantities, conduct and impact test thresholds, and assessing the appropriate outcomes related to a finding of physical withholding pursuant to the Market Rules.
Capacity Auction - Economic and Physical Withholding
- Assist in the implementation of the framework governing how the IESO will guard against the exercise of market power through economic withholding in the capacity auction.
- Support the processes which include: the determination of technology and, where necessary, resource specific offer caps, tests checking the competitiveness of the capacity auction, both on a global and regional basis and capacity auction must-offer provisions and delisting requirements for eligible resources.
- Assist other members of the supervisor's team to help implement, develop and maintain the framework and processes which describe how the IESO will guard against the exercise of market power through physical withholding in the capacity auction.
- Such processes include: capacity auction must-offer provisions and delisting requirements for eligible resources.
Other
- Assist with implementing procedures to safeguard the confidentiality of data from or about Market Participants.
- Undertake the development and delivery of internal and external training packages, as required.
- Provide other IESO staff with guidance regarding the appropriate use and interpretation of information produced by, or related to, market power mitigation processes.
- Work collaboratively with other members of the team to effectively implement the goals of the team within the context of the broader corporate direction.
- Perform other duties as may be required.
Education, Experience & Skills: - Requires an academic background in engineering, economics, business, or law at a level to understand the technical/economic/legislative parameters governing the energy industry and market place. Requires good written and oral communication skills, in order to prepare reports, develop training documents, and communicate effectively with all contacts involved in accomplishing the work objectives.
- This knowledge is considered to be normally acquired in or equivalent to 4 years University education in Accounting, Auditing, Engineering, Economics, Business, or a related discipline.
- Requires knowledge of Microsoft Office Suite.
- The following knowledge and experience is considered desirable:
- Experience in market design or market analysis as well as knowledge of the IESO's market power mitigation processes. This involves the application of analytical, reasoning and negotiating skills.
- Knowledge of the legislative parameters governing the Ontario electricity marketplace.
- Knowledge and understanding of the design of the IESO administered markets and its market rules.
- Experience or familiarity with operations/planning in the electrical industry, power system operations/planning, finance, regulatory and/or enforcement activities or audit.
- A period of over 4 years, up to and including 6 years is considered necessary to gain this experience.
Independent Electricity System Operator (IESO)
1600-120 Adelaide Street West
Toronto
Ontario Canada
www.ieso.ca
