Participants in the real-time markets receive payments or invoices directly from the IESO for energy sold or purchased in the real-time markets. In addition, other charges are included in the invoices sent to participants:

• Charges for transmission and distribution of energy (set by the Ontario Energy Board).
• “Uplift” or overhead charges to cover costs incurred to supply items such as operating reserve and congestion costs.

Settlement Statements

The IESO issues a preliminary settlement statement and a final settlement statement for each trading day. These statements indicate amounts of power purchased or produced, the real-time market price at the times of the transactions, and the total daily charges.

Ten business days after the trading day, the IESO sends each participant a preliminary statement of transactions for that trading day. Time is allowed for the participants to verify the statement, and for the IESO to verify and recalculate charges, if necessary. Ten business days after the preliminary settlement statement is issued, the IESO issues the final settlement statement for the trading day.

Settlement Statement Timeline