Concept dossier
Settlements
The financial calculation and adjustment of market outcomes for participating resources.
Why it matters
Settlement design determines how dispatch and price outcomes become credits and charges.
Confirmed design
The May 2026 settlements memo supersedes the January 2026 version.
The IESO retained the DAM make-whole design for storage while pausing further changes to that design element until engagement on other energy-limited resources is completed.
Implementation status and limitations
Current Phase 1 design; IESO Market Rule and Market Manual drafting and engagement are scheduled to commence in Q1/Q2 2027.
The earlier memo is retained for comparison and is not the current authority.
The July response and August presentation explain current design and engagement direction but do not themselves implement Market Rules or Market Manuals.
Open questions
Which detailed charge-code and procedure changes will implement the design?
Decision and version timeline
- 2026-01-22 — Earlier settlements memo
- 2026-05-11 — Current settlements memo
- 2026-07-29 — IESO response retains the storage design while broadening engagement
- 2026-08-06 — Presentation adds worked examples and implementation next steps
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