Comment Period: June 16 – July 14, 2026

We value stakeholder input and invite stakeholders to provide their feedback on the materials presented on Financial Transmission Rights (FTRs) via the following stakeholder feedback form by July 14, at 4:00 p.m. MT. Please be as specific as possible with your responses. Thank you for your input.

Background

The AESO has decided to not advance a centralized FTR market at this time. This feedback follows the June 15 stakeholder session covering two key areas: the data and reporting to improve voluntary congestion management tools, like bilateral agreements and forward trading, and market assessment metrics that could be used to re-visit an FTR market in the future.

Purpose

We are inviting written comments from stakeholders that will inform the next steps with respect to data, reporting, and market metrics as they relate to financial congestion management tools.   

Instructions

1. This feedback form is open to all industry stakeholders.

2. Please respond to the questions below, using the written feedback form provided.

3. Only one completed feedback form will be accepted per organization.

4. To upload your completed feedback form:

• You will need to be registered and signed in on the AESO Engage platform; and
• You will need to be on the Financial Transmission Rights page (link to AESO Engage), which can be found on the AESO website at www.aeso.ca and follow the path: AESO Engage (found on very top navigation bar) > Hub > Financial Transmission Rights; and
• Click on the "Submit Stakeholder Feedback" box below to upload your completed feedback form.

All responses are due by July 14, 2026, at 4:00 p.m. MT. and will be shared on AESO Engage in their original format. If you have any questions, please email stakeholder.relations@aeso.ca

Questions

Reports

1. What reports would be improve understanding the financial risks of congestion?

We are interested in feedback on whether current reports provide meaningful congestion management information and if there are new reports that should be created. For EACH of the reports mentioned, please include:

a) How this information improves willing parties’ ability to assess opportunities and risks related to congestion management?

b) How this information supports the fair, efficient, and openly competitive (FEOC) function of the market?

c) Any concerns regarding commercial sensitivity, confidentiality, or protections regarding the information itself or underlying data?

d) Any potential mitigations, e.g., masking or consolidation, that could address concerns with publishing the data in the report?

Pricing Hubs

2. Should we calculate and publish pricing hubs?

a) If yes, please explain the value that creating pricing hubs would enable.

b) What pricing hub definition should be explored further? For example, should the AESO further explore pricing hubs based on the simple average of LMPs at representative high-voltage buses, the generation-weighted average at asset LMPs, or a different definition? Please explain your rationale.

c) Are there other considerations/cautions regarding pricing hubs in general that you want the AESO to be aware of?

Future Assessment

3. What market metrics should the AESO use when assessing the potential need for an FTR market in the future? For each proposed market metric please answer the following:

a) Please describe the market metric or provide examples of the market metric.

b) How does this market metric relate to the creation or development of an FTR market?

c) Is there a specific threshold or trigger in this market metric that would indicate revisiting the decision to not develop a centralized FTR market?

d) Are there considerations/cautions regarding the use or interpretation of the market metrics that you want the AESO to be aware of?

Market Metrics

4. Of the potential market metrics identified, there are specific questions for stakeholders:

a) Projected resource adequacy: Is there a specific measure of reserve margin or supply adequacy that would be useful in assessing the potential need for an FTR market in the future?

b) Forward and retail market metrics: how should the AESO use the market metrics published by the MSA to assess the potential need for an FTR market in the future?

c) Indicators of competitive retail market health: would the spread or variability of retail rates offered by competitors indicate healthy competition? How could this inform the potential need for an FTR market in the future?

Other

5. Is there other information regarding data/reports or market assessment metrics that you want to highlight?

Stakeholder Feedback: Enduring Financial Transmission Rights (FTRs)

Comment Period: February 27 – March 20, 2026

We value stakeholder input and invite stakeholders to provide their feedback on the materials presented on Financial Transmission Rights (FTRs) via the following stakeholder feedback form by March 20, at 4:00 p.m. MT. Please be as specific as possible with your responses. Thank you for your input.

Purpose

Following our sessions on February 25 – 26, we are inviting written comments from stakeholders that will inform the next steps, including Phase 2 of the engagement.

Instructions

1. This feedback form is open to all industry stakeholders.
2. Please fill out the sections below as indicated.
3. Only one completed feedback form will be accepted per organization.
4. To upload your completed feedback form:
5. You will need to be registered and signed in on the AESO Engage platform; and
6. You will need to be on the Financial Transmission Rights page (https://aesoengage.aeso.ca/financial-transmission-rights), which can be found on the AESO website at www.aeso.ca and follow the path: AESO Engage (found on very top navigation bar) > Market > Financial Transmission Rights; and
7. Click on the "Submit Stakeholder Feedback" box below to upload your completed feedback form.
   
   

All responses are due by March 20, 2026, at 4:00 p.m. MT. and will be shared on AESO Engage in their original format. If you have any questions, please email stakeholder.relations@aeso.ca 

Questions

FTR Market Purpose

1. What is your preferred FTR framework? Please provide your rationale.

2. In your opinion, what is the purpose of an FTR market?

3. Including alternative or additional design objectives, which design objectives should be prioritized? Please provide your rationale. Refer to slide 21 of the Feb. 25 – 26 Stakeholder Session

4. How does your preferred FTR framework meet the design objectives?

FTR Market Roles

5. What are the defined roles in your preferred FTR framework:

a) Role of the ISO

b) Role of other agencies/regulators

6. Who are the market participants:

a) Buyers

b) Sellers

7. How do financial players contribute or participate in this FTR framework? 

Market Framework Considerations

8. In your preferred FTR framework, are there protections for either Buyers or Sellers that need to be considered? 

9. Who ultimately bears the congestion risk in your preferred FTR framework? 

10. How do you view your company/organization benefitting from an FTR market?

11. Are there any other feedback or considerations that you would like to flag for the AESO?