04/19/23 Market Operations Standing Committee of the IMO 1

MIO Update

Nicholas Ingman

04/19/23 Market Operations Standing Committee of the IMO 2

Agenda

• Status of Shadow Operations

• Status of Market Trials

• Overview of Results to Date

• Implementation Timing

04/19/23 Market Operations Standing Committee of the IMO 3

Status of Shadow Operations• Completed Shadow Operations on May 21, as

scheduled.• Conducted Scenario Tests and Parallel Operations• Results of scenario testing look positive• Some early problems with data synchronization for

parallel operations testing - Now resolved

• 3 Critical variances still to be tested (delivered May 27)

04/19/23 Market Operations Standing Committee of the IMO 4

Status of Market Trials• Started Market Trials on May 25• 6 Market participants are participating representing:

– Generators

– Loads

– Independent Consultant

• 3 days of scenario testing using participant offer submissions completed

• 3 weeks of parallel operation - monitoring of performance measures– Note: Market Trials does effect real-time operations.

04/19/23 Market Operations Standing Committee of the IMO 5

Market Trial Objectives• Allow market participants to better understand how

MIO dispatch will differ from current dispatch instructions

• Monitor performance measures to ensure that there is:– No degradation of any performance metrics and overall

shown or expected improvements; or– Minimal degradation of performance metrics but offset by

improvements in other areas

04/19/23 Market Operations Standing Committee of the IMO 6

Performance Measures• During parallel operation the following information will be

gathered and shared with members of the Market Trials team:– Comparisons between current RTC and new MIO RTC for:

• CMSC

• Number of Dispatch Instructions (Incl. No. of reversals)

• Number of Start Instructions to Hydroelectric Units

• Current MCP to Shadow Prices for RTC and RTC MIO

– Analysis of accuracy of first Dispatch Advisory – MIO Shadow Price Report (similar to current RTC report

posted on AFTP site)– Participant specific dispatch schedules for the period of the

test

04/19/23 Market Operations Standing Committee of the IMO 7

Overview of Results to Date• Improved Unit Scheduling• Impact on CMSC• Number of Dispatch Instructions• Unit Cycling• Accuracy of First Dispatch Advisory• Comparison of Shadow Prices

04/19/23 Market Operations Standing Committee of the IMO 8

MIO Implementation Timeline• Based on successful completion of Market

Trials– MIO Main Delivery - June 23– Dispatch Advisory Reports - July 7