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CAISO: Settlements and Market Clearing / New Credit Management Policy (e-mail)

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Summary:

On May 12, FERC issued an order conditionally accepting the California ISO’s (ISO) March 2006 Credit Policy Amendment effective as of May 14, 2006. The ISO will transition to the new approach in establishing Unsecured Credit Limits over the next 30 days. Scheduling Coordinators that currently have an Approved Credit Rating and other entities that may be eligible for an Unsecured Credit Limit should submit an Application for Unsecured Credit as soon as possible. All entities subject to the new credit requirements that have not submitted an application by June 19, 2006, will be assigned an Unsecured Credit Limit of zero and will be required to post collateral to cover any outstanding ISO obligations.

Document Locations:

• Credit Policy