Market power mitigation rebate assignment
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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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Market power mitigation rebate assignment

Market Power Mitigation RebateAssignment

Presentation to CRTAP

June 25, 2002


Background

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


Wholesale retail consistency

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


Principles

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


Process preparation

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?


Process notification

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


Process calculation

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


Mpma rebate schedule

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


Validation

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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