Assessing the Market Players' Objections
It would help to the fairness of the market environment to enable the market players for making their objections. The objections fall into 3 groups:
- Objections that upon approving, IGMC could accurately calculates the value of lost opportunities for the claimer
- Objecting that upon approving, IGMC could not accurately calculate the value of lost opportunities for the claimer
- Objections that are not approved by IGMC
The consumer could make their objections on the bill issued by the market operator. It is clear that the suppliers could also make their objections about the issued bills. It is remarkable that the market players should send their objections to IGMC market monitoring and development bureau. First the objection is processed in the IGMC and upon approving, if IGMC could accurately calculate the value of lost opportunities, the objections is responded by the IGMC otherwise, the case will be referred to the regulatory board. Regulatory board refers the case to a specialized committee that have three members. This committee estimate the value of lost opportunities and report them to the market operator.
If the market monitoring and development bureau do not approve an objection, market players are authorized to directly send their request to the regulatory board. By sending the rejected objection directly to the regulatory board a specialized committee is established. One of this committee members should be the member of regulatory board. It should be noted that the IGMC employees could not be the member of this committee. The committee invite the IGMC representatives to hear their reasons for rejecting the objections and also hear the reasons of the market player. Finally the sentence will be pronounced. Figure 2 briefly illustrates the objection process flow.
Figure 2. The process flow of market players' objections