The MSA is a public agency that protects and promotes the fair, efficient, and openly competitive operation of Alberta's electricity and retail natural gas markets. The MSA monitors the performance of Alberta's electricity and natural gas markets to ensure that market participants comply with all applicable electricity and natural gas legislation, the Alberta Reliability Standards, and the Independent System Operator's rules.


We make sure Alberta's wholesale electricity markets operate fairly and efficiently and are openly competitive. This is done by enforcing the Electric Utilities Act and Fair, Efficient and Open Competition Regulation, and other legislation and regulations.


When the Independent System Operator's rules or reliability standards are violated, we may issue penalties or request a hearing or other proceeding before the Alberta Utilities Commission to get an administrative penalty or other relief. You can find summaries of our work in this area in our annual Compliance Reports.

Market surveillance

We use ongoing surveillance to assess whether:

  • competition is fair and open;
  • market outcomes are efficient; and
  • Independent System Operator's rules and practices support the electricity market's fair, efficient, and competitive operation.

The MSA may also challenge new or existing Independent System Operator's rules if they may have an adverse effect on the market's structure and performance.

Leadership team

Derek Olmstead

Derek Olmstead

Administrator and Chief Executive Officer

As Administrator and Chief Executive Officer, Derek is responsible for planning, operations, and decision-making at the Market Surveillance Administrator (MSA), including conducting surveillance on all aspects of Alberta’s electricity market and enforcing compliance with all legislation, regulations, market rules, and reliability standards that are applicable in the market. Before his current position, Derek was Director, Enforcement and Principal Economist at the MSA, Economic Advisor at the Alberta Electric System Operator, Assistant Director at the Australian Energy Regulator / Australian Competition and Consumer Commission, and Analyst at Ontario’s Independent Electricity System Operator.

Derek holds a Ph.D. in Economics and is an adjunct assistant professor in the Department of Economics at the University of Calgary and an adjunct research professor in the Department of Economics at Carleton University. He has conducted extensive research in energy and environmental economics, industrial organization, and applied econometrics. This research focuses on both the competitive and regulated aspects of electricity markets in Australia, Canada, Europe, and the United States. His research has been published in the Canadian Journal of Economics, The Energy Journal, Energy Economics, and The Electricity Journal.

Larry Kram

Larry Kram

General Counsel and Corporate Secretary

Larry has over 30 years of in-house experience in the electricity industry, most recently as Vice President, Law, General Counsel and Corporate Secretary with the AESO.

Andrew Wilkins

Director, Compliance

Before being appointed to this role, Andrew was Team Lead, Compliance Monitoring at the AESO; Manager, Compliance at the MSA; Economist at the MSA; Research Associate at the University of Calgary; and Competition Law Officer at the Competition Bureau (Canada). Andrew holds an M.A. in Economics and has taught several economics courses at the University of Calgary.

Mark Nesbitt

Mark Nesbitt

Director, Investigations

Before being appointed to this role, Mark held various roles related to investigations and application of economics at the MSA, was Manager, Regulatory and Policy at ATCO Power, and worked as a Competition Law Officer at the Competition Bureau (Canada). Mark holds an M.A. in Economics.

Careers at MSA

Careers at MSA

We’re a small group with a wide-ranging set of skills needed to address the industry’s complex issues. Follow us on LinkedIn for current opportunities and student internships.