ISO Rules Part 200 Markets Division 207 Demand Curve Parameters Section Calculation of Net-CONE

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1 Applicabiliy 1 Secion applies o: he ISO. Exernal Consulaion Draf Requiremens Esablish Gross-CONE, Energy Offse and Ne-CONE 2 The ISO mus esablish for each obligaion period: a gross-cone value in $/kw-year in accordance wih subsecions 3 and 4, as applicable an energy offse value in $/kw-year in accordance wih subsecion 5 and a ne-cone value in $/kw-year in accordance wih subsecion 6. Iniial Gross-CONE Value for 2021/2022 Obligaion Period 3 The ISO mus esablish an iniial gross-cone value for he 2021/2022 obligaion period of $244.2/kW-year. Calculaion of Gross-CONE 4(1) The ISO mus calculae he gross-cone value for each obligaion period following he 2021/2022 obligaion period in accordance wih he following formula: gross-cone = gross-cone =2021/2022 composie index equals he obligaion period for which he gross-cone is being deermined gross-cone =2021/2022 is he iniial gross-cone value in subsecion 3 above and composie index is he composie index value for obligaion period calculaed in accordance wih subsecion 4(2) below. (2) The ISO mus, in calculaing he gross-cone value under subsecion 4(1), calculae he composie index using he following formula: 0.25 labour index 60.7 composie index = maerials index ubrine index exchange rae equals he obligaion period for which he gross-cone value is being deermined composie index is he composie index value for obligaion period Issued for Consulaion Page 1 of 7 Public

2 (e) (f) labour index is he mos recen 12 monh average of published Saisics Canada Consrucion Union Wage Raes (Elecrician), Monhly for Edmonon Albera, Table maerials index is he mos recen 4 quarers average published Saisics Canada Gross Naional and Gross Domesic Income, Indexes and Relaed Saisics, Annual, Table urbine index is he mos recen 12 monh average of published Federal Reserve Economic Daa (S. Louis) Producer Price Index by Indusry: Turbine and Turbine Generaor Se Unis Manufacuring (PCU ) and exchange rae is he mos recen 12 monh average of published Saisics Canada Monhly Average Exchange Raes in Canadian Dollars, U.S. Dollar monhly average, Table Calculaion of Energy Offse 5(1) The ISO mus, for every obligaion period, calculae he energy offse value in accordance wih he following formula: energy offse = (forward power price energy marke expense ) forward produc energy maximum capabiliy 1000 (e) equals he obligaion period for which he energy offse is being deermined forward power price is he weighed average of he selemens maching he obligaion period, where he selemens are he average over a period deermined by he ISO, for he published NGX forward power produc in Appendix 1 ha yields he highes energy offse for obligaion period energy marke expense is he energy marke expense value for obligaion period calculaed in accordance wih subsecion 5(3) forward produc energy is he forward produc energy value for obligaion period calculaed in accordance wih subsecion 5(2) and maximum capabiliy is equal o 93 MW. (2) The ISO mus, in calculaing he energy offse under subsecion 5(1) above, calculae he forward produc energy in accordance wih he following formula: forward produc energy = average capaciy (1 forced ouage rae) forward produc hours equals he obligaion period for which he generaion is being deermined Issued for Consulaion Page 2 of 7 Public

3 average capaciy is equal o 87 MW forced ouage rae is equal o 2.5% and forward produc hours is he number of hours defined in he ICE NGX Conracing Pary Agreemen for he forward power produc associaed wih he forward power price in subsecion 5(1)(iii), for obligaion period. (3) The ISO mus, in calculaing he energy offse under subsecion 5(1), calculae he energy marke expense in accordance wih he following formula: energy marke expense = [forward gas price (1 + commodiy fuel charge )] hea rae + variable operaions and mainenance + (emission inensiy esablished benchmark ) carbon price + ransmission losses + rading charge equals he obligaion period for which he energy offse is being deermined (e) (f) (g) (h) (i) (j) forward gas price is he weighed average of he selemens maching he obligaion period, where he selemens are he average over he period deermined by he ISO in subsecion 5(1), of NGX Phys, FP (CA/GJ), AB-NIT commodiy fuel charge is he mos recen 12 monh average of published NOVA Gas Transmission Ld NGTL Fuel Usage and Measuremen Variance hea rae is equal o GJ/MWh variable operaions and mainenance is he variable operaions and mainenance value for obligaion period calculaed in accordance wih subsecion 5(4) emission inensiy is equal o 0.50 onnes of CO 2 /MWh esablished benchmark is he weighed average of he calendar year values maching obligaion period for an esablished benchmark for elecriciy published by a public auhoriy carbon price is he weighed average of he calendar year values maching obligaion period for he carbon price published by a public auhoriy ransmission losses is he ransmission loss value for obligaion period calculaed in accordance wih subsecion 5(5) and energy marke rading charge is he mos recen energy marke rading charge published on he AESO websie. Issued for Consulaion Page 3 of 7 Public

4 (4) The ISO mus, in calculaing he energy marke expense under subsecion 5(3), calculae he variable operaions and mainenance value in accordance wih he following formula: variable operaions and mainenance = variable operaions and mainenance =2021/2022 maerials index equals he obligaion period for which he variable operaions and mainenance is being deermined variable operaions and mainenance =2021/2022 is equal o $4.60/ MWh and maerials index is he value in subsecion 4(2). (5) The ISO mus, in calculaing he energy marke expense under subsecion 5(2), calculae he ransmission losses value in accordance wih he following formula: ransmission losses = n i=1 loss facor i forward power price n equals he obligaion period for which he ransmission losses is being deermined i n are faciliies locaed in he For Saskachewan area idenified in he mos recen loss facors published on he AESO websie loss facor i is he mos recen published loss facor values published on he AESO websie and forward power price is he value in subsecion 5(1). Calculaion of Ne-CONE 6(1) The ISO mus, subjec o subsecion 6(2), calculae he ne-cone value for every obligaion period in accordance wih he following formula: ne-cone = gross-cone energy offse equals he obligaion period for which he ne-cone value is being deermined gross-cone is he gross-cone value in subsecion 3 or he gross-cone value calculaed in accordance wih subsecion 4 for obligaion period, as applicable and energy offse is energy offse value calculaed in accordance wih subsecion 5 for obligaion period. Issued for Consulaion Page 4 of 7 Public

5 (2) The ISO mus, if he ne-cone value calculaed in subsecion 6(1) is: below zero, se he ne-cone value a zero or above he gross-cone value in subsecion 3 or 4, se he ne-cone value a he gross-cone value. Publicaion of Ne-CONE, Daa and Indices 7 The ISO mus, publish he ne-cone value deermined in accordance wih his secion and he following daa and indices in he Capaciy Marke Aucion Guidelines for each base aucion and rebalancing aucion: composie index =2021/2022 composie index labour index maerial index (e) urbine index (f) USD/CAD Foreign Exchange Rae (g) energy marke expense (h) forward power price (i) forward produc hours (j) forward produc energy (k) he period deermined by ISO refer o in subsecions 5(1), 5(2) and 5(3) (l) forward gas price (m) commodiy fuel charge (n) variable operaions and mainenance (o) emission inensiy (p) esablished benchmark (q) carbon price (r) ransmission losses (s) loss facor and () rading charge. Issued for Consulaion Page 5 of 7 Public

6 Subsiue Index or Benchmark 9 The ISO mus, if any of he indices or benchmarks referred o in his secion are unavailable or no applicable for use in he calculaion of he ne-cone value, use anoher comparable indusry index or benchmark and publish he index or benchmark in he Capaciy Marke Aucion Guidelines for each base aucion and rebalancing aucion. Applicable Aucions 10 This secion is in effec for he following aucions: Appendices he base aucion and rebalancing aucion for he 2021/2022 obligaion period he base aucion and rebalancing aucion for he 2022/2023 obligaion period he base aucion and rebalancing aucion for he 2023/2024 obligaion period and he base aucion and rebalancing aucions for he 2024/2025 obligaion period. Appendix 1 Lis of Forward Power Producs Revision Hisory Dae xxxx-xx-xx Descripion Iniial release Issued for Consulaion Page 6 of 7 Public

7 Forward Power Produc Names on NGX: Appendix 1 Lis of Forward Power Producs NGX Fin FUT FF, FP for AESO Fla NGX Fin FUT FF, FP for AESO Ex Off Peak NGX Fin FUT FF, FP for AESO Ex Peak NGX Fin FUT FF, FP for AESO Off Peak NGX Fin FUT FF, FP for AESO On Peak NGX Fin FUT FF, FP for AESO Super Peak NGX Fin FUT FF, FP for AESO Hourly Issued for Consulaion Page 7 of 7 Public