Presentation on theme: "1 November 24, 2003 Toronto Congress Centre. 2 Consolidation of Boundary Entity Resources Overview and Implementation Plan."— Presentation transcript:
1 November 24, 2003 Toronto Congress Centre
2 Consolidation of Boundary Entity Resources Overview and Implementation Plan
3 BER Consolidation Principles: Only one BER set for each intertie Specific source BERs for GST purposes not required and will be eliminated Number of BERs at some locations reduced based on history of use so far Staged implementation
4 BER Consolidation Plan Use MI.LUDDINGTON for all trade over Michigan intertie Use NY.ROSETON for all trade over NY intertie Exception to above: export from IMO to another province via Michigan or NY - must use EC.MARITIMES.SINK or WC.PRAIRIERANGES.SINK for correct tax treatment Detailed plan and IMDC documents show all changes Revised BER table in Appendix F of Market Manual 4.2 lists available BERs and explains their use
5 BER Consolidation - Implementation Stage 1 - December 10, 2003 Elimination of many BERs - see list in referenced docs Use only NY.ROSETON for NY trades - if those 40 BERs are not enough, use NY.NIAGARAX for overflow. Use only MI.LUDDINGTON for Michigan trades - if those 40 BERs are not enough, use MI.STCLAIRX for overflow. Stage 2 - March 3, 2004 Addition of 10 more BERs to NY.ROSETON and MI.LUDDINGTON - total of 50 sources and 50 sinks for each Elimination of NY.NIAGARAX and MI.STCLAIRX
6 BER Consolidation - Implementation (cont.) On December 1, 2003, the IMO will implement the BER changes associated with stage 1, with an effective date of December 10, After that, participants will no longer be able to bid or offer on any of the BERs slated for removal in stage 1 for any trade date beyond December 9, Standing bids and offers on any of the BERs slated for removal in stage 1 will need to be re-entered using a valid BER prior to 6:00 am on December 9, 2003.