Market Pricing

This working group provides a forum where market participants and other stakeholders can raise and discuss concerns and issues related to price determination in the IESO-administered markets. Detailed stakeholder advice will be solicited on specific changes or enhancements that are planned or contemplated to address pricing issues and concerns.

Stakeholders can provide input through membership in the Working Group or by communicating to the IESO through its dedicated consultation line (905-403-6931) or e-mail market.pricing@ieso.ca. General information or material whose closure date for comment has passed is posted under Archived Material.

• Links to materials posted on the IMO Consultation website related to Market Pricing.
• Review of Government Legislation from June 23, 2004 Market Advisory Council meeting, presented by Rick Jennings

Terms of Reference
Guiding Principles
Working Group
2008 Market Pricing Working Group Meeting Dates

Please note that the written descriptions of the Pricing Issues available here under the "Supporting Material" section for each meeting are draft documents only. They may be incomplete and/or contain inaccuracies and will be completed and corrected in future versions. When the Pricing Issue papers created by the Market Pricing Working Group are finalized, they will be made available on this web page.

Meeting Date/Agenda/Notes	Supporting Material
December 2, 2008
October 29, 2008
September 25, 2008	Meeting Cancelled
August 19, 2008 Agenda (Revised)	Item 1: Administration   • Item 1c: Action Items   • Item 1d: Inadvertent Use of 1x Ramp Rate   • Item 1d: Day-Ahead Price Forecast Item 2: Issue 9 - Peak vs Average Pre-Dispatch Demand Forecast   • Presentation   • Additional Analysis   • Response to Stakeholder Comments Item 3: Issue 39 - Inter-market Trading of Operating Reserve   • Final Recommendation   • Presentation Item 4: Issue #40 - Locational Pricing for Intertie Transactions   • Presentation   • Issue Description Paper Item 5: Issue 13 - Control Action Operating Reserve   • Presentation   • Item 5a: Proposal to Remove CAOR from Pre-Dispatch   • Item 5b: Issue Description Paper Item 6: Transmission Rights Market Review   • Presentation Item 7: Other Business   • Item 7b: May, June and July 2008 Pricing Events Report   • Item 7c: Forward Agenda
July 24, 2008	Meeting Cancelled
June 5, 2008 Agenda (Draft) Meeting Notes (Final)	Item 1: Administration   • Item 1c: Action Items Item 2: Issue #9 - Peak vs. Average Pre-Dispatch Demand Forecast   • Bruce Power Comments • Ontario Power Generation Comments   • IESO Response to Stakeholder Feedback - Presentation Item 3: Issue 39 - Inter-Market Trading of Operating Reserve   • Stakeholder Comments on MPWG Issue 39 Item 4: Analysis of Impact of Change to 3x Ramp Rate Item 5: Review of Status of Issues Placed on Hold Pending Decision on Day-Ahead Forecast of Real-time HOEP   • Issues 1 and 30 Memo   • Issue 1 Description Paper   • Issue 30 Description Paper Item 6: Other Business   • Item 6b: April 2008 Pricing Events Report   • Item 6c: Forward Agenda
May 16, 2008 Agenda (Draft, Revised) Meeting Notes (Final)	Item 2: Issue #9 - Peak vs Average Pre-Dispatch Demand Forecast   •  Memo   •  Presentation - Results of Analyses Item 3: Issue #39 - Inter-market Trading of Operating Reserve Item 4: Integration of OPA Demand Response 3 program   •  Presentation   •  Program Rules   •  Contract Item 5: Other Business •  Item 5b: February and March 2008 Pricing Events Reporting
April 10, 2008	Meeting Cancelled
March 6, 2008 Agenda (Draft) Meeting Notes (Final)	Item 1: Administration •  Item 1c: Review of Action Items •  Item 1d: Updates – MPWG Meeting Schedule Item 2: OPA Demand Response Programs Item 3: Issue #39 Inter-market Trading of Operating Reserve •  Summary •  Description Paper •  Presentation Item 4: Other Business •  Item 4b: Review of January 2008 Pricing Events •  Item 4c: Review of Issues Tracking Memo •  Item 4c: Forward Agenda
February 7, 2008 Agenda (Draft) Meeting Notes (Final)	Item 1: Administration • Item 1c: Issue #16 - LMP SE-25 Update Item 2a: 2008 MPWG Priorities and Performance Measures Item 3: Issue #9 - Peak vs. Average Pre-Dispatch Demand Forecast Item 4: Issue #38 - Shared Activation of Reserve Item 5: Day-Ahead Forecast of RT HOEP Item 6: Issue #5 - Simultaneous use of Ramping for Energy and Operating Reserve •  Presentation •  Paper Item 7b: Review of November and December Pricing Events •  Presentation Item 7c: Review of Issues Listing •  Forward Agenda Item 8: Review of Market Surveillance Panel Market Monitoring Report •  Report Executive Summary •  Presentation
December 6, 2007 Agenda (Final) Meeting Notes (Final)	Item 1: Administration • Item 1c: 2008 MPWG Meeting Schedule - Revised • Item 1d: August 2007 Pricing Events Presentation • Item 1d: September 2007 Pricing Events Presentation • Item 1d: October 2007 Pricing Events Presentation Item 1b: Review of Action Items •  Memo AI 45-3 Definitions of Efficiency and Price Attributes - Member Feedback •  AI 33-1 Economic Concepts of Efficiency Item 2: 2008 Work Priorities and Performance Measures •  Updated MPWG Issue List •  AI 45-1 2008 Priorities and Performance Measures - Member Feedback Item 3: Forecast of Real-Time Price •  Presentation - DA Price Model Additional Analysis Item 4: Issue #9 Peak vs. Average Pre-Dispatch Demand Forecast •  Draft Stakeholder Engagement Plan SE-54 Item 5: Review of Issues #1 and #20 •  Presentation Item 6: Issue #13 Control Action Operating Reserve (CAOR) •  Issue #13 CAOR Presentation Item 7: Other Business • Item 7b: Forward Agenda
October 29, 2007 Agenda (Final) Meeting Notes (Final)	Item 1: Administration •  2008 Meeting Schedule Proposal •  August 2007 Pricing Events Presentation •  September 2007 Pricing Events Presentation Item 1b: Review Action Items •  Memo AI 44-3 Exporting OR Plan •  AI 33-1 Economic Concepts of Efficiency Item 2: Issue 38 Shared Activation of Reserve •  Issue 38 Inadvertent Interchange Presentation Item 3: Issue 30 Forecast of Real-Time Price •  Issue 30 DA Forecast of RT HOEP Model Presentation Item 4: Integration of OPA Demand Response Programs • OPA DR Programs Presentation • Integration OPA DR Programs Presentation Item 6: Issue 5 Simultaneous Use of Ramping •  Issue 5 Modified Constraints Discussion Paper Item 8: Issue 13 Control Action Operating Reserve (CAOR) •  Issue 13 CAOR Presentation Item 9: Other Business Item 9a: Review of August and September 2007 Pricing Events •  August 2007 Pricing Events Presentation •  September 2007 Pricing Events Presentation Item 9b: MPWG Forward Agenda
September 27, 2007	Cancelled
August 23, 2007 Agenda (Final) Meeting Notes (Final)	Item 2: Operating Reserve Initiatives • Revised IESO Response to Stakeholder Comments, Additional Analysis and Recommendation • Draft MR-003320R00 Amendment Proposal Item 3: Shared Activation of Reserve • Presentation Shared Activation of Reserve • Extract from Market Surveillance Panel Market Monitoring Report May 2006 – October 2006 Item 4: Review of Issues 5, 11, 30, 33 • Memo re: Action Item 43-1 • Presentation    • Issue 5    • Issue 11    • Issue 30    • Issue 33 Item 5: Review of Issues 1, 20 • Presentation   Issue Description Papers    • MPWG 44, Issue 1: Pre-Dispatch Price Uncertainty    • MPWG 44, Issue 20: Treatment of Imports in LMP Item 6: Other Business • July 2007 Pricing Events • MPWG Forward Agenda Item 7: Market Surveillance Panel Market Monitoring report • Market Surveillance Panel-OEB Report for Nov. 2006–Apr. 2007 • Overview - Presentation on the MSP Report • Detailed - Presentation on the MSP Report
July 19, 2007 Agenda (Final) Meeting Notes (Final)	Item 2: Operating Reserve Initiatives Resulting from NPCC Changes • Revised Stakeholder Engagement Plan SE-37 • Cover Memo • Amendment Proposal • Draft Cost Benefit Analysis • Written Submission: OPG • Written Submission: TransCanada • Written Submission: APPrO • Comments on the Cost Benefit Analysis Item 3: Administration • Peak vs. Average Pre-dispatch Demand forecast – Efficiency Analysis Proposal • Presentation – Peak vs Average Efficiency Analysis Proposal Item 4: Review of Issues • Issue 5: Simultaneous Use of Ramping Generation Units for Energy and Operating Reserve – updated issue paper • Issue 11: Comparing Treatment of Self-Scheduling Resources in Pre-Dispatch and Real-Time – update issue paper • Issue 30: Forecast of Real-Time Prices – updated issue paper • Issue 30: Forecast of Real-Time Prices – comments from Optimal Technologies • Issue 33: Rules for Determining Prices in Times of Shortage – updated issue paper • Presentation Item 5: Other business • May Pricing Events Report • June Pricing Events Report Item 6: Other business • MPWG Forward Agenda • Request for Admin Pricing Reporting
June 7, 2007 Agenda (Revised) Meeting Notes (Final)	Item 1: Administration • Memo to MPWG re: Action Item 41-1 Item 2 - Presentation CRA Overview of Cost-Benefit Analysis Item 2: Overview of Cost-Benefit Analysis and its Application in Public Policy Decisions Item 3: Presentation Draft Cost-Benefit Analysis for Operating Reserve Initiative 2 Item 3: Draft Cost-Benefit Analysis for OR Initiative 2 Item 3: Schedule for NPCC OR Initiatives Item 5: Other Business • MPWG Forward Agenda • April 2007 Pricing Events
June 1, 2007 Agenda Repeat of May 9 Meeting	Please see materials beside May 9, 2007 meeting.
May 9, 2007 Agenda Meeting Notes (Final)	Item 2: Export Elasticity - Response to Market Price Changes • MPWG 41 Presentation - Behavioural Responses to Market Events • MPWG 41 Event Analysis • MPWG 41 Export Elasticity Estimate Item 3: Sector Meetings to Review Positions on the Pricing Issues • MPWG 41 Sector Meeting Results and Proposed Next Steps Item 4: Operating Reserve Initiatives resulting from NPCC Changes • MPWG 41 Schedule for NPCC OR Initiatives Item 5: Peak vs Average Pre-Dispatch Demand Forecast • MPWG 41 Presentation - Pre-Dispatch Demand Forecasting Item 6: Other Business • MPWG 41 Presentation - March Pricing Events • MPWG 41 Forward Agenda
April 3, 2007 Agenda Meeting Notes (Final)	Item 2: Market Efficiencies and Business Case Requirements • Discussion Paper - Economic Concepts of Efficiency • Presentation - Economic Efficiency Item 3: Sector Meetings to Review Positions on the Pricing Issues • MPWG 38 Memo on Sector Meetings to Review Positions • MPWG 38 Tracking Pricing Issues and Initiatives 27 Mar 07 Item 4: Other Business • February Pricing Events • MPWG Draft Forward Agenda
March 19, 2007 Agenda Meeting Notes (Final)	Agenda Item 1 - Proposed Working Model for MPWG Discussions of Market Efficiencies and Business Case Requirements
March 1, 2007 Agenda Meeting Notes (Final)	• Item 2: Control Action Operating Reserve • Item 3: Operating Reserve Initiatives • Item 4: TR Clearing Account Surplus (Revised) • Item 5: Review of December 2006 Market Surveillance Panel Report • Item 6: Future MPWG Discussions Market Efficiencies and Business Case Reqts • Item 7: Other - January 2007 Pricing Events
February 1, 2007	Transmission Rights Surplus Account Information
December 27, 2006	• Communication on ramp rate change
December 6, 2006 Agenda Meeting Notes (Final)	• Item 1: Proposed MPWG Meeting Schedule 2007 - Revised • Item 2: Economic Efficiencies • Item 2: Market Efficiencies • Item 3a: Formulations • Item 3b: Impact on Average and Real-Time Price • Item 4: Locational Pricing During Emergencies • Item 4: Locational Price During Emergencies within a Uniform Price Regime • Item 5: Peak vs Average Demand Forecast Gross Inefficiencies Analysis
November 17, 2006	• Board of Director's Meeting
November 3, 2006 Agenda Meeting Notes (Final)	• Item 1: Proposed Meeting Schedule 2007 • Item 2: Emergency Control Action Pricing • Item 3: Use of Pre-Dispatch Peak vs Average Demand Forecast Feedback • Summary of Session Feedback
October 19, 2006	• Navigant Memo – Consumer Electricity Price Impact of Wholesale Electricity Market Price Change • Simulation Results • Additional information provided to AMPCO The Role of Fixed Price Contracts and the Global Adjustment in Mitigating Price Changes to Consumers Stakeholder Feedback    • AMPCO
October 6, 2006 Agenda Meeting Notes (Final)	• Item 1: Revised Draft Terms of Reference • Item 2: LMP - Summary of Other Jurisdictions • Item 2: Locational Pricing Model Description • Item 2: LMP Presentation – Review of Shadow Prices • Item 3: Emergency Control Action Pricing Review • Item 4: Comments from MPWG Members on Intertie Transactions Setting Real-Time Price     • OPG     • TransAlta • Item 5: Peak vs Average Demand Forecast
September 1, 2006 Agenda Meeting Notes (Final)	• Market Price Working Group Meeting • Terms of Reference • Locational Pricing Draft Stakeholder Plan • Locational Price Study scope • Emergency Pricing • Emergency Pricing (Revised) Intertie Transactions Setting Real-Time Price: • Guide to Intertie Simulation and Data • Intertie Set Price Peak vs. average pre-dispatch demand forecast: • Guide to Peak vs Avg Data • Peak Avg
August 29 & 30, 2006 10:00 am to 11:00 am DST	Webcast for question and answers on 3 times ramp rate • Price simulations, November 2005 to April 2006 • Two examples • Additional graphs showing the demand for the two examples
August 23, 2006 Agenda Meeting Notes	• Document - Addressing the Twelve Times Ramp Rate Multiplier • Appendix to Document: Addressing the Twelve Times Ramp Rate Multiplier • Presentation - Addressing the Twelve Times Ramp Rate Multiplier Feedback: • Falconbridge
August 4, 2006 Agenda Meeting Notes	• Item 2: MPWG Presentation Intertie Setting RT Price • Item 3: MPWG Presentation LMP Study Proposal • Item 4: MPWG Presentation Market Response to Price Changes
July 7, 2006 Agenda Meeting Notes	• Market Pricing Working Group Meeting • Item 2: Proposed Supplemental Ramp Payment • Item 2: APPrO presentation on proposed supplemental ramp payment • Item 4: Intertie Transactions Setting Price - IESO Staff Opinion • Item 5: Future of the Market Pricing Working Group Stakeholder Input on 12x Ramp Rate Issue • Optimal Technologies • Ontario Power Generation • AMPCO
June 2, 2006   Cancelled Agenda	Documents moved to July 7th meeting.
May 5, 2006   Cancelled
April 26, 2006 Doubletree International Plaza Hotel 655 Dixon Road Toronto Agenda	Open Stakeholder Session. • Twelve Times Ramp in Price Setting • IESO Opinions on 12x RR Solution • APPrO Position on 12x Ramp Rate
April 21, 2006 2645 Skymark Avenue Mississauga 8:30 am - 12:00 pm Agenda Meeting Notes	• Summary of IESO Commentary on 12X Options • IESO Commentary on 12X Options • Energy Only Electricity Market Design Paper by William Hogan
April 7, 2006 Delta Chelsea, Toronto 33 Gerrard Street West 8:30 am - 3:30 pm Agenda Meeting Notes	• 12x Ramp Rate • NERA Presentation • Ramping Data for APPrO Proposal (Revised) • Intertie Transactions and the Ontario Market Clearing Price • NERA Ramp Rate Report
March 24, 2006 2645 Skymark Avenue, Mississauga Agenda Meeting Notes	• Decision Criteria • Draft Evaluation of Pricing Options Against IESO Decision Criteria • Options to Consider if Ramp is Not Included in the Energy Price • Ramping Supplementary Payment • Multi Interval Optimization Pricing • 1X Ramp Rate Myopic Pricing • APPrO MPWG Presentation March 24 (revised March 27)
March 3, 2006 2645 Skymark Avenue, Mississauga Agenda Meeting Notes	• Decision Criteria for Evaluating Options for Resolution to the Ramp Rate Multiplier Issue (Draft) • Ramp Rate Multiplier Issue - Options for Resolution (Draft) • Draft Evaluation of Pricing Options Against IESO Decision Criteria • Evaluation of Options • Ramp Pricing Proposal • Market Pricing Options • Decision Criteria • Stakeholder Engagement Plan SE-18 Intertie Transactions Role in Setting Real-Time Price • Issue 7: Imports and Exports setting the Ontario Market Clearing Price • Intertie Transactions and the Ontario Market Clearing Price Stakeholder Input • Falconbridge Response - Decision Criteria for Evaluating Options
January 20, 2006 2645 Skymark Avenue, Mississauga Agenda Meeting Notes	Meeting Materials • Correspondence • MPWG Work Plan • CAOR Discussion Paper • Temporal Optimization (ramp rates) - Summary of previous meetings • Temporal Optimization (ramp rates) - Background Information on Price Calculation Methods • Presentation - 12x Ramp Rate • Stakeholder Engagement Plan SE-17 - 12x Ramp Rate Issue • Presentation - Control Action Operating Reserve • Simulation Results Handout Stakeholder Input • AMPCO Response - Ramp Rate • Gerdau Ameristeel
December 2, 2005   Cancelled
November 4, 2005   Cancelled
October 7, 2005   Cancelled
September 9, 2005 2645 Skymark Avenue, Mississauga Agenda Meeting Notes	• Counter-Intuitive Pricing During Emergencies - Final Recommendation • Temporal Optimization – MIO Pricing • Counter-Intuitive Pricing During Emergencies - Proposed Recommendation • Intertie Setting Price Simulation • Predispatch Demand and IOG
August 5, 2005 2645 Skymark Avenue, Mississauga Agenda Meeting Notes	• Long-Term Solution for Counter-Intuitive Pricing During Emergencies • Long-Term Solution for Counter-Intuitive Pricing During Emergencies - IESO Staff Proposal • Pre-Dispatch Demand Forecast Issue • Pricing Simulations for Recent Emergency Events
July 8, 2005 2645 Skymark Avenue, Mississauga Agenda Meeting Notes	• Long Term Solutions for Counter-Intuitive Pricing • Demand Forecast Used by Pre-Dispatch • MIO Pricing Options
June 10, 2005 2645 Skymark Avenue, Mississauga Agenda Meeting Notes Updated Aug 15/05	• IESO Responses to MPWG Issues re: Counter-Intuitive Pricing Solutions • Proposed Rule amendments for counter-intuitive pricing • Simulation results from past emergency events • Revised CAOR recommendation • MIO pricing in NYISO
May 13, 2005 2645 Skymark Avenue, Mississauga Agenda Meeting Notes	• April 7 Events • Dispatchable Load Treatment – Corrections to Market System Software • CAOR Change Recommendation • Proposed Actions to Address Counter-Intuitive Pricing
April 19, 2005 2645 Skymark Avenue, Mississauga Agenda Meeting Notes	• CAOR Draft Recommendation • Explanation of MIO Pricing • April 7 Emergency Event
April 7, 2005 2645 Skymark Avenue, Mississauga Agenda Meeting Notes	• MIO Pricing Presentation • CAOR Draft Recommendation Overview Presentation • CAOR Draft Recommendation
March 10, 2005 2645 Skymark Avenue, Mississauga Agenda Meeting Notes	• Future Pricing Issues Work Market Pricing Issues: • Issue 17 – Draft Recommendation redlined • Issue 28 – Draft Recommendation redlined
February 25, 2005 2645 Skymark Avenue, Mississauga Agenda Meeting Notes	• CAOR Simulation Results • MIO Price Testing Results Market Pricing Issues: • Issue 17 - Draft Recommendation • Issue 28 – Draft Recommendation
February 2, 2005 Toronto Congress Centre, 650 Dixon Road Agenda Meeting Notes	• Presentation – MIO Price Simulation  • Options for Change to the Current Implementation of CAOR Discussion Paper  • Presentation - Options for Change to the Current Implementation of CAOR Market Pricing Issues:  • Issue 28: Additional Compensation under Administrative Pricing Discussion Paper  • Issue 28 Additional Compensation under Administrative Pricing Presentation
January 14, 2005 2645 Skymark Avenue, Mississauga Agenda Meeting Notes Updated Feb 8/05	• CAOR Discussion Paper  • MIO Price Test - Presentation  • MIO Price Testing Data for Dec 10-13, 2004  • Presentation on the MIO price testing
December 8, 2004 Toronto Congress Centre, 650 Dixon Road Agenda Updated Dec 29/04 Meeting Notes	• Action Item 11.1 Follow-up  • Updated Pricing Issues Tracking Document  • NYISO Reserve Demand Curves presentation  • Adjustment Period Allocation Discussion Paper  • Overview of Adjustment Period Allocation  • Summary of Administered Pricing Events  • Summary of Compensation for Admin Pricing
November 26, 2004 Mississauga Meeting Notes Updated Dec 29/04	• Overview Presentation • Work Package 1 – Temporal Issues: MIO Pricing Test Plan for Sandbox Environment Market Pricing Issues:     • Issue 17: Application of Settlement Adjustments – Discussion Paper     • Issue 31 – MIO Pricing Methodology: Pricing Example
November 12, 2004   Cancelled
October 20, 2004 Mississauga Agenda Meeting Notes	• Expected Price Impacts of the Different MIO Pricing Options for Different Demand Ramp Scenarios • LECG Memorandum re: Virtual Trading and Market Design • LECG Presentation re: Virtual Trading and Market Design • CAOR Statistics • Work Plan Timelines
October 1, 2004 Agenda Meeting Notes	• Issue 8 - Systemic Differences Between the Day-Ahead and Real-Time Markets • Background for Issue 31
September 17, 2004   Cancelled
September 3, 2004 Agenda Meeting Notes	• Overview Presentation • MPWG Issues Tracking Document Market Pricing Issues:     • Issue 8 - Systemic Arbitrage Opportunities between the Day-Ahead and Real-Time Market     • Issue 12 - Under-Commitment of Available Generation     • Issue 17 - Application of Settlement Adjustments     • Issue 20 - Treatment of Intertie Transactions in a Congestion Pricing Regime
August 20, 2004 Agenda Meeting Notes	• Overview Presentation • MPWG Issues Tracking Document Market Pricing Issues:     • Issue 1 - Pre-Dispatch Price Bandwidths     • Issue 2 - Publishing Nodal Price Data     • Issue 5 - Simultaneous Use of Ramping Generation Units for Energy and Operating Reserve     • Issue 7 - Imports Setting Price     • Issue 11 - Comparing Treatment of Self-Scheduling Resources in Pre-Dispatch and Real-Time     • Issue 15 - Restriction on Changes to Dispatch Data Between 4 and 2 Hours Ahead of Dispatch Hour     • Issue 16 - Historical Analysis of Nodal Pricing     • Issue 23 - Elimination of Constrained-Off Payments     • Issue 24 - Reducing Frequency of Failed Intertie Transactions     • Issue 26 - Relationship Between Competitive and Regulated Wholesale Prices     • Issue 28 - Compensation Under Administered Pricing When Incorrect Prices have been Posted     • Issue 30 - Forecast of Real-Time Price     • Issue 32 - Role of IOG in Certain Hours
August 6, 2004 Agenda Meeting Notes	• Overview Presentation • Presentation on Issue 35 • MPWG Issues Tracking Document Market Pricing Issues:     • Issue 1 - Pre-Dispatch Price Bandwidths     • Issue 7 - Imports Setting Price     • Issue 23 - Elimination of Constrained-Off Payments     • Issue 28 - Compensation Under Administered Pricing When Incorrect Prices have been Posted     • Issue 32 - Role of IOG in Certain Hours     • Issue 33 - Rules for Determining Prices in Times of Shortages     • Issue 34 - Rules Concerning the Breaker Status of Quick Start Units     • Issue 35 - Impact of Other Out-of-market Control Actions on the Market     • Issue 36 - Pricing CAOR
July 9, 2004 Agenda Meeting Notes	• Overview Presentation • MPWG Issues Tracking Document Market Pricing Issues:     • Issue 9 - Use of Peak Demand in Predispatch     • Issue 10 - Demand Over-Forecasting     • Issue 13 - Impact of Out of Market Resources on the Market     • Issue 18 - Pricing and Allocation of Line Losses     • Issue 19 - Node Loss Factors     • Issue 22 - Pricing Physical Constraints     • Issue 25 - Temporal Optimization in RTU but not RTC     • Issue 31 - Multi Interval Optimization Pricing Methodology
June 25, 2004 Agenda Meeting Notes	• Terms of Reference • Guiding Principles • Pricing Issues Tracking Document • Non-Disclosure Agreement • Congestion Pricing Summary • Temporal Optimization Overview • Emergency Control Action List • Emergency Control Action Example Market Pricing Issues:     • Issue 4 - 12x Ramp Rate     • Issue 6 - ECA Pricing Effects     • Issue 22 - Pricing Physical Constraints     • Issue 25 - Temporal Optimization     • Issue 27 - RTU-RTC Differences
June 11, 2004 Agenda Meeting Notes Updated Aug 16/04	• 12X Ramp Rate • Congestion Pricing • Pricing Issues Tracking Document • Draft Terms of Reference • Draft Guiding Principles
May 25, 2004 Agenda Meeting Notes	• Objectives • Terms of Reference • Fundamentals of Pricing in the IMO Administered Markets • Pricing Issues Tracking Document • Proposed Guiding Principles • Report Sample - 12-Times Ramp Rate
May 7, 2004 Agenda Meeting Notes	• Draft Terms of Reference • Draft Working Group Objectives

• Fundamentals of Pricing in the IMO Administered Markets (May 25/04)
• Pricing Issues in the IMO Administered Market (March 23, 2004)

Locational Marginal Pricing