Market Surveillance Committee
Bimonthly
The Market Surveillance Committee is an independent body of highly skilled industry experts that provides comments, critiques and recommendations about the ISO market monitoring process (as described in the tariff) and a variety of market issues to the ISO Chief Executive Officer and Board of Governors. In addition, the Committee is required under the ISO tariff to review and comment on Department of Market Monitoring analysis and reports.
Committee description
The Market Surveillance Committee is an independent advisory group of industry experts. To ensure independence, none of its members are affiliated with or have any financial interest in any market participant. Their charter allows them to suggest changes in rules and protocols or recommend sanctions or penalties directly to the ISO Governing Board.
They possess wide and varied expertise in areas vital to the understanding of competitive markets. Individually, they are experienced in economics with emphasis on antitrust, competition and market power. They are familiar with generation and transmission operations, legal issues in regulated operations, and gaming behavior in energy and other commodity markets.
Public notice is provided in advance of Market Surveillance Committee meetings. Because of the confidential nature of the information they discuss, the meetings may occasionally be closed to the public. The Committee will periodically produce written reports containing their recommendations and submit them to the ISO CEO and Governing Board. Such reports will be made available to the public subject to restrictions on confidential information.
The functions of the Market Surveillance Committee include:
- Provide independent review of market performance and market power problems
- Develop a record of structural problems and propose corrective action
- Review rule changes, penalties, and sanctions
Members
James Bushnell - email: jbbushnell@ucdavis.edu
Scott Harvey - email: scott.harvey@fticonsulting.com
Benjamin Hobbs, Chair - email: bhobbs@jhu.edu
Contacting the committee
If you need to contact the Market Surveillance Committee, please use any of the following methods:
Phone: (916) 351-4400
Fax: (916) 608-7296
E-mail: msc@caiso.com
Upcoming meetings
No upcoming events.
Opinions and reports
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| Final Market Surveillance Committee Opinion - Extended Day-Ahead Market Congestion Revenue Allocation - Jun 16, 2025 | 06/16/2025, 2:16 PM | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Surveillance Committee Final Opinion - Storage Bid Cost Recovery - Nov 01, 2024 | 11/04/2024, 11:31 AM | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MSC Final Opinion - Rules for Bidding Above the Soft Offer Cap - Price Formation Enhancements - May 2024 | 05/15/2024, 4:15 PM | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Surveillance Committee Addendum to Final Opinion on Day-Ahead Market Enhancements | 05/12/2023, 4:41 PM | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Surveillance Committee Final Opinion on Day-Ahead Market Enhancements - Attachment 2 to Memo - May 3, 2023 | 05/12/2023, 4:41 PM | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Surveillance Committee Update - May 2023 | 05/10/2023, 1:15 PM | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Surveillance Committee Final Opinion on Day-Ahead Market Enhancements | 05/05/2023, 8:20 AM | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MSC Final Opinion on Extended Day-Ahead Market | 01/27/2023, 3:56 PM | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| No results | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Meeting documents (last 12 months)
All meeting documentsMarket Surveillance Committee General Session
Related documents
Market Surveillance Committee General Session
Related documents
- Video - Market Surveillance Committee Meeting - May 02, 202506/09/2025, 11:10 AM
- Agenda - Market Surveillance Committee Meeting - May 02, 202505/01/2025, 11:53 AM
- Presentation - Market Power Mitigation Harvey - May 02, 202505/01/2025, 10:44 AM
- Presentation - Congestion Rent Allocation Harvey - May 02, 202505/01/2025, 11:22 AM
- Presentation - Extended Day-Ahead Market Congestion Revenue Allocation - May 02, 202505/01/2025, 3:49 PM
- Presentation - Market Power Mitigation Bushnell - May 02, 202505/01/2025, 3:49 PM
- Presentation - Price Formation Enhancements Market Power Mitigation Analysis - May 02, 202505/01/2025, 3:49 PM
Market Surveillance Committee General Session
Related documents
- Agenda - Market Surveillance Committee Meeting - Mar 28, 202503/21/2025, 8:43 AM
- Video - Market Surveillance Committee Meeting - Mar 28, 202504/02/2025, 4:24 PM
- Extended Day-Ahead Market Congestion Revenue Allocation Harvey - Presentation - Mar 28, 202503/27/2025, 11:40 AM
- Congestion Rent Shortfalls and Pricing Harvey - Presentation - Mar 28, 202503/27/2025, 1:47 PM
- Presentation - Extended Day-Ahead Market Access Charge - Mar 28, 202503/27/2025, 5:09 PM
- Presentation - Congestion Revenue Rights - Background and Principles - Mar 28, 202503/27/2025, 5:10 PM
- Presentation - Congestion Revenue Rights Discussion - Mar 28, 202503/27/2025, 5:37 PM
Market Surveillance Committee General Session
Related documents
- Video - Market Surveillance Committee - Nov 01, 202412/02/2024, 10:38 AM
- Agenda - Market Surveillance Committee Meeting - Nov 01, 202410/28/2024, 12:00 PM
- Market Surveillance Committee Draft Opinion on Storage Bid Cost Recovery - Nov 01, 202410/31/2024, 8:24 AM
- Market Surveillance Committee Final Opinion - Storage Bid Cost Recovery - Nov 01, 202411/04/2024, 11:31 AM
Market Surveillance Committee General Session
Related documents
- Agenda - Market Surveillance Committee Meeting - Jul 30, 202407/24/2024, 10:03 AM
- Presentation - Storage Bid Cost Recovery and Default Energy Bid Enhancements Track 1 - Jul 30, 202407/31/2024, 10:58 AM
- Presentation - Storage Resource Bid Cost Recovery MSC - Jul 30, 202407/29/2024, 1:40 PM
- Presentation - Transfer Limits July Events - Jul 30, 202407/29/2024, 3:32 PM
- Presentation - Operational Surprises HASP and EIM Transfers MSC - Jul 30, 202407/29/2024, 3:32 PM
- Video - Market Surveillance Committee - Jul 30, 202408/05/2024, 1:55 PM
Market Surveillance Committee Executive Session
No documents associated with this event.