April 15, 2008

 

 

Requested Client Action Information Only

Categories

Legal/ Regulatory

Market Rules and Market Design

Settlements and Market Clearing

 

 

Unwinding Congestion Revenue Rights

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Summary

CAISO has posted the Timeline and Methodology for Unwinding Congestion Revenue Rights (CRRs) Released Through the 2007 Annual CRR Allocation and Auction to its website at http://www.caiso.com/1faa/1faa72615a140.doc.

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Main Text 

On March 31, 2008 the Federal Energy Regulatory Commission (FERC) issued an order conditionally accepting the California ISO’s (CAISO’s) CRR Contingency Plan amendment filing.  Consistent with the order, the CAISO has initiated its process for unwinding a portion of CRR Holders’ portfolios due to the delay in the start-up of the Market Redesign and Technology Upgrade (MRTU). 

 

CAISO has posted the document, Timeline and Methodology for Unwinding Congestion Revenue Rights Released Through the 2007 Annual CRR Allocation and Auction, that describes the key dates for affected CRRs, as well as the methodologies for unwinding CRRs and the interest rate calculation.

 

Key dates for affected CRRs include:

1/7/2008      Interest accrual start date

4/23/2008    April invoice date

4/30/2008    April payment due date

                  Interest accrual end date

Unwinding distribution date

5/22/2008    May invoice date

5/30/2008    May payment due date

Unwinding distribution true-up date (if necessary)

 

The document is located on the CAISO Website at http://www.caiso.com/1faa/1faa72615a140.doc.

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For More Information Contact

Kevin King at 916-608-1247 or kking@caiso.com or Karen Voong at 916-351-2360 or kvoong@caiso.com