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Market Power Mitigation Rebate Assignment

Market Power Mitigation Rebate Assignment. Presentation to CRTAP June 25, 2002. Background. Recipient (Assignor) has assigned Rebate to 3rd party (Assignee) Applicable to wholesale and retail markets Assignment law (late-19th century) Licences recognize possibility

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Market Power Mitigation Rebate Assignment

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  1. Market Power Mitigation RebateAssignment Presentation to CRTAP June 25, 2002

  2. Background • Recipient (Assignor) has assigned Rebate to 3rd party (Assignee) • Applicable to wholesale and retail markets • Assignment law (late-19th century) • Licences recognize possibility - “Nothing shall preclude…..” • Valid and not unduly burdensome

  3. Wholesale/Retail Consistency • Consistency important • OEB/MEE/IMO working group • Outline proposals endorsed by MOSC/EMMC • OEB & IMO seeking input • CRTAP is IMO’s first step

  4. Principles • Not mandatory for Assignors/Assignees • Built on current MPMA processes • Flexible (e.g. multiple 3rd parties, residual) • Proof of assignment • Payment via market systems • Assignment $ based on assigned kWh • Subject to NOD/dispute processes

  5. Process - Preparation • Settlement period minus 2 months - reminder that Assignees must be MPs - Web site announcement? • Settlement period plus 20 BD - IMO provides total AQEW for period to MP - Letter or E-mail?

  6. Process - Notification • Up to 15 CD later - Assignee submits to IMO assigned kWh & Assignor’s authorization - IMO rejects invalid assignment(s) • Up to 10 CD later - Assignee submits revision to rejected submissions; last opportunity

  7. Process - Calculation • On receipt of OPG Rebate payment - IMO calculates MP’s Rebate - IMO calculates Assignee’s payment based on MP’s Rebate $, MP’s AQEW and assigned kWh • PSS, FSS & invoice dates - MPMA Rebates included

  8. MPMA Rebate Schedule • Up to 15 CD after FSS for last trade-day of Settlement Period - IMO informs OPG of Rebate • Up to 30 CD later - If agree with IMO calcs., OPG pays • If no agreement, OPG payment delayed by 60 CD or longer

  9. Validation • Assignee is an MP • Assignor agrees to assignment • Submission format correct • Assigned kWh < or = AQEW - One assignment; reject it - Multiple assignments; reject all • MPMA $ “neutrality”

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