New markets recalculation window

A gap exists between the April 1, 2009 start-up of the new market and the November 1, 2009 implementation of payment acceleration where no defined settlement statement publishing timeline exists in the applicable California ISO tariff provisions beyond the T+76 Recalculation Settlement Statement — of which statements for the intervening trading days were published and invoiced as of February 24, 2010. To resolve the situation, the ISO is spearheading an initiative to develop a defined settlement publication routine, create ample validation and dispute opportunities, and put into place a sunset provision, which is consistent with the principles of payment acceleration already in place. This proposal allows resolving new market issues early and reduces the need for significant data storage and associated work needed to coordinate analyses and rerun settlements.