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Alternative Proposals for Establishing Creditworthiness for Certain Not-for-Profit Entities

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Summary:

In accordance with a directive in the May 12, 2006 Order Conditionally Accepting Tariff Revisions Governing Credit Policy, 115 FERC ¶ 61,170 at P 35 in Docket No. ER06-700, to work with stakeholders to develop alternative measures for calculating the creditworthiness of nonprofits in order to establish unsecured credit limits for these entities, the California Independent System Operator has developed two additional proposed alternatives to address two types of entities

Extract:

In accordance with a directive in the May 12, 2006 Order Conditionally Accepting Tariff Revisions Governing Credit Policy, 115 FERC ¶ 61,170 at P 35 in Docket No. ER06-700, to work with stakeholders to develop alternative measures for calculating the creditworthiness of nonprofits in order to establish unsecured credit limits for these entities, the California Independent System Operator has developed two additional proposed alternatives to address two types of entities: Local Publicly Owned Electric Utilities and Unrated Governmental Entities. The proposal for Local Publicly Owned Electric Utilities is based on a proposal submitted by NCPA attached hereto, which, in turn, is based on a provision in the NYISO Tariff (Attachment K, Superseding Original Sheet No. 591A). The proposal for governmental entities that receive appropriations for energy and energy-related purchases from a federal or relevant state legislature would apply to such entities as the Western Area Power Authority, which had an Approved Credit Rating prior to the effective date of the Credit Policy tariff amendment.

Document Locations:

• CAISO Credit Policy Stakeholder Process