How to put Ontario’s power market on a faster track to economic efficiency

The Ontario Independent Electricity System Operator (IESO) recently began a major stakeholdering process aimed at renewing Ontario’s wholesale electricity market design. If implemented, the changes under consideration would seem to suggest a real commitment to the use of market-based mechanisms to govern the production and consumption of electricity in the future. 
This Insights makes initial observations on:
•   The central objective for having a market;
•   The types of efficiencies achievable;
•   The most promising actions; and
•   Principles to guide market changes.
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