Energy Market

Please contact Karen Mazuryk at 403-539-2590 for templates of the Letter of Credit, Guarantee and/or Cash Collateral Agreement.

Credit Procedures

In accordance with the ISO Rules – Appendix 3 – Pool Participant Prudential Requirements, pool participants are subject to a financial review by the Alberta Electric System Operator (“AESO”). The intent of the financial review is to assess the creditworthiness of a pool participant in order to determine if any unsecured credit limit should be granted by the AESO.

The Credit Procedures Guide, developed to support the AESO’s implementation of the ISO Rule, provides transparency to pool participant’s as it relates to the AESO business processes and practices for managing pool participant prudential requirements. 

In the event of any discrepancies between The Credit Procedures Guide and the ISO Rules, the ISO Rules will take precedence. The granting of an unsecured credit limit for any pool participant is at the discretion of the AESO.

For information on the Credit Procedures Guide, or to provide feedback, please contact Karen Mazuryk at 403-539-2590.

Prudential Pool Price

On the third business day of each month, the AESO will publish to its website, a pool price for the current month, which will be used for the prudential requirement calculations for AESO Pool Participants.

The AESO will calculate the monthly pool price for prudential requirements using a multiplier applied to the Alberta forward electricity price. The use of a multiplier is to allow for price volatility differences between actual pool prices and forward pool prices. If the actual pool price reaches or exceeds the pool price used for AESO prudential requirement, the AESO may request additional Financial Security from a Pool Participant at its discretion.

Please refer to the AESO Credit Procedures Guide for more information on the Prudential Pool Price.

2016  Prudential Pool Price

 January  $35.00
 February  $34.00
 March  $28.00
 April  $22.00
 May  $24.00
 June  $33.00

Prudential Pool Price Archive

Monthly Reporting 2016

As a part of the AESO’s monthly credit reporting to Pool Participants, the enclosed chart includes the unsecured credit limits and related credit exposures by credit rating category (i.e. AAA,AA, A, BBB) for rated Pool Participants for the preceding two months. Also included in the chart are the credit exposures, financial security and the amount of any unsecured credit granted by the AESO to non-rated Pool Participants. 

To protect the confidentiality of its Pool Participants the AESO will only provide aggregated information. No information will be provided on an individual Pool Participant basis.

Rules

All market participants are expected to comply with the Electric Utilities Act of Alberta and the ISO Rules. Each participant is bound by the rules, which are defined as including the rules, practices, policies and procedures that regulate the operation of the market. The rules document also includes the Operating Policies and Procedures (OPPs) and the Settlement System Code (SCC).