Background
Ex post price corrections have led to instances in which bids that were cleared in the market are no longer economic when evaluated against the corrected price. Currently, the ISO does not have a policy or mechanism for compensating Market Participants when this occurs. The absence of such a “make-whole” mechanism was based on the assumption that the need for market results would always be consistent with the cleared bids. In practice, this is generally the case. When market prices require corrections, however, settlement prices can differ from the value of the cleared bids. Through this initiative, the ISO will develop a “make-whole” payment mechanism to compensate Market Participants for adverse financial impacts in the case when prices are adjusted in a way that is not consistent with their accepted bids.
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Outcome
Pending closure of initiative
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Process
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Relevant Market Notices
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Price Correction Make Whole Payments Draft Tariff Language for Stakeholder Review
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Draft Price Correction Make Whole Payments Tariff Language 17-Mar-10
doc 37K | Abstract | 03/17/2010 12:13
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Stakeholder Comments on Ex Post Price Correction Make-Whole Payments for Accepted Demand Bids Draft Final Proposal
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PG&E Comments on Make-Whole Payments Draft Final Proposal
pdf 68K | Abstract | 02/09/2010 09:06
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Stakeholder Conference Call - 19-Jan-2010
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Agenda - Ex Post Price Corrections Make Whole Payments 19-Jan-2010
pdf 25K | Abstract | 01/14/2010 14:59
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Presentation - Ex Post Price Correction Make-Whole Payments for Accepted Demand Bids - 19-Jan-2010
pdf 579K | Abstract | 01/14/2010 13:26
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Draft Final Proposal - Ex Post Price Correction Make-Whole Payments for Accepted Demand Bids
pdf 321K | Abstract | 01/12/2010 12:15
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Stakeholder Comments on 12-23-2009 Presentation
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Citigroup Energy Comments on Make Whole Payment
pdf 25K | Abstract | 01/13/2010 12:31
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CPUC Comments on Make Whole Payments
pdf 61K | Abstract | 01/12/2010 16:02
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PG&E Comments on Make Whole Payments
pdf 67K | Abstract | 01/13/2010 12:24
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SCE Comments on Make Whole Payment
pdf 69K | Abstract | 01/13/2010 12:32
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Six Cities Comments on Make Whole Payments
pdf 101K | Abstract | 01/19/2010 16:09
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WPTF Comments on Make Whole Payments
pdf 65K | Abstract | 01/19/2010 16:08
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Stakeholder Conference Call 23-Dec-2009
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Stakeholder Comment Template for 16-Dec-2009 Straw Proposal
pdf 97K | Abstract | 12/24/2009 11:42
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Agenda - Ex Post Price Corrections "Make Whole" Payments 23-Dec-2009
pdf 25K | Abstract | 12/21/2009 14:24
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Presentation - Ex Post Price Corrections "Make Whole" Payments 23-Dec-2009
pdf 539K | Abstract | 12/21/2009 17:08
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Straw Proposal - Ex Post Price Correction Make-Whole Payments for Accepted Demand Bids
pdf 319K | Abstract | 12/16/2009 16:40
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Stakeholder Comments on 08-Dec-2009 Presentation
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Bay Area Municipal Transmission Group Comments on Make Whole Payments
pdf 106K | Abstract | 12/24/2009 11:25
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CDWR Comments on Make Whole Payment
pdf 77K | Abstract | 12/24/2009 11:32
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CDWR Comments on Make Whole Payments
pdf 78K | Abstract | 12/09/2009 13:12
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PG&E Comments on Make Whole Payments
pdf 62K | Abstract | 12/14/2009 15:03
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Stakeholder Conference Call 08-Dec-2009
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Agenda - Ex Post Price Corrections "Make Whole" Payments 08-Dec-2009
pdf 18K | Abstract | 12/03/2009 20:24
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Presentation - Ex Post Price Correction Make-Whole Payments for Accepted Demand Bids
pdf 468K | Abstract | 12/01/2009 16:30
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Stakeholder Comments on 10-28-2009 Issue Paper/Straw Proposal
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CEI Comments on Make Whole Payment
pdf 92K | Abstract | 11/16/2009 12:24
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CPUC Comments on Make Whole Payment
pdf 158K | Abstract | 11/16/2009 13:05
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Dynegy Comments on Make Whole Payment
pdf 11K | Abstract | 11/16/2009 12:26
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JP Morgan Comments on Make Whole Payment
pdf 76K | Abstract | 11/16/2009 12:27
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PG&E Comments on Make Whole Payment
pdf 71K | Abstract | 11/16/2009 13:07
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Portland General Electric Comments on Make Whole Payment
pdf 103K | Abstract | 11/16/2009 13:08
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Powerex Comments on Make Whole Payment
pdf 38K | Abstract | 11/16/2009 13:08
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SCE Comments on Make Whole Payment
pdf 172K | Abstract | 11/17/2009 07:39
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SMUD Comments on Make Whole Payment
pdf 122K | Abstract | 11/16/2009 13:09
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WPTF Comments on Make Whole Payment
pdf 69K | Abstract | 11/16/2009 13:10
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Stakeholder Conference Call - 4-Nov-2009
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Presentation - Ex Post Price Correction Make-Whole Payments for Accepted Demand Bids
pdf 392K | Abstract | 11/02/2009 16:13
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Stakeholder Comment Template for 28-Oct-2009 Issue Paper/Straw Proposal
doc 34K | Abstract | 11/05/2009 11:16
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Issue Paper and Straw Proposal
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Issue Paper & Straw Proposal - Ex Post Price Correction Make-Whole Payments for Accepted Demand Bids
pdf 194K | Abstract | 10/28/2009 13:42
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