The California ISO has received inquiries relating to the financial status of Pacific Gas & Electric Co. (PG&E) in light of recent media reports. The ISO wants to assure market participants that PG&E has posted collateral with the ISO to cover its outstanding and upcoming obligations.

The ISO's tariff requires all market participants to meet credit support requirements that are designed to ensure their ongoing ability to meet financial obligations. Among other requirements, a scheduling coordinator that does not have unsecured credit with the ISO must post collateral to cover all amounts it currently owes, plus projected future obligations. The ISO monitors all market participants throughout each day to ensure that they are in compliance with those requirements. PG&E has been, and remains, fully compliant with these credit requirements.