What Markets does the IESO administer?
Ontario’s competitive electricity market consists of several markets for different electricity services, each administered by the IESO. Prices in the IESO-administered markets are unregulated, so the IESO must monitor the performance of market participants and rigorously enforce the Market Rules. There are three general groups of markets administered by the IESO: • Real-Time Markets These are the primary markets in which electricity is bought and sold. There are two real-time markets: • The Real-Time Energy Market in which dispatchable generators and importers submit offers for electricity and dispatchable consumers and exporters submit bids for each hour of the day. Every five minutes, the IESO determines the Market Clearing Price (or energy market price) by balancing the demand for electricity with these offers and bids. The five-minute market clearing price is uniform across Ontario for an initial period after market commencement. Dispatchable facilities will be settled at this five
