The Operation of Ontario's Competitive Electricity Market: Overview, Experiences, and Lessons

Competitive electricity markets have been operating in various countries for more than a decade, with every single electricity market presenting its own unique characteristics and features. This paper provides a comprehensive overview of the operational aspects of the Ontario electricity market, its unique features, and its outcomes for the first four years of operation. Several programs implemented in the Ontario market to improve efficiency, transparency, and competitiveness are analyzed, and the effectiveness of these programs are discussed.