Market Surveillance Panel Releases Electricity Market Monitoring Report

    TORONTO, Aug. 10 /CNW/ - The Market Surveillance Panel (MSP) has
submitted its Electricity Market Monitoring Report to the Ontario Energy Board
(OEB) on Ontario's wholesale electricity market for the period between
November 2006 and April 2007. The Report, published today on the OEB website,
states that the market has continued to perform well according to its design
and notes that prices were lower relative to the corresponding period a year
ago. Also, the Report makes various suggestions to the Independent Electricity
System Operator (IESO) for potential improvements to the present market rules
and practices based on observed market outcomes over the past six months.
    For much of the November 2006 - April 2007 period, the Hourly Ontario
Energy Price (HOEP) was, on average, the lowest price among the neighbouring
markets of New York, New England, PJM (Pennsylvania, New Jersey, Maryland) and
the Midwest Independent System Operator (Manitoba to Kentucky).
    The Market Surveillance Panel is appointed by the Ontario Energy Board.
The mandate of the Panel is to monitor, report on, and where appropriate,
investigate, the activities and conduct of participants in the markets
administered by the Independent Electricity System Operator (IESO). The Market
Surveillance Panel was transferred to the Ontario Energy Board from the IESO
under the Electricity Restructuring Act, 2004, effective January 1, 2005.
    The Panel's report also serves as a detailed source of information on the
operation of the market during the review period.

    The full report and previous ones are available at:

    The Ontario Energy Board regulates the province's electricity and natural
gas sectors in the public interest. It envisions a healthy and efficient
energy sector with informed consumers, and works towards this vision through
regulatory processes that are effective, fair and transparent.
    For more information on the Board, please visit our website at or contact the Consumer Relations Centre at 416-314-2455 or
toll-free at 1-877-632-2727.

For further information:

For further information: Paul Crawford, Ontario Energy Board, (416)

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