The ISO has posted a second revised draft final proposal, in response to stakeholder input and the ISO Department of Market Monitoring’s comments regarding concerns that commitment cost market power mitigation should be further tested. Consequently, the ISO has modified its proposal to set the commitment cost circuit breaker cap to be 150% of a resource’s reference level during the first eighteen months, instead of 200%. This will allow further protections to ensure that the market power mitigation methodology is functioning properly before the circuit breaker cap is raised to 300% in eighteen months. The proposal is available on the ISO website at http://www.caiso.com/Documents/SecondRevisedDraftFinalProposal-CommitmentCosts-DefaultEnergyBidEnhancements.pdf.
Stakeholders will have the opportunity to discuss this change during the Market Surveillance Committee teleconference, during which the committee will provide its opinion on the Commitment Costs and Default Energy Bid Enhancements initiative on Monday, March 5, 2018.
The initiative webpage is available at http://www.caiso.com/informed/Pages/StakeholderProcesses/CommitmentCosts_DefaultEnergyBidEnhancements.aspx. 
