Market participants may elect to change their default elections by notifying the ISO in writing by Oct. 15, 2023, in default amounts. Election changes become effective Jan. 1, 2024 and will remain in effect for the entire calendar year.
Market participants can contact Jake Thai at JThai@caiso.com to change their default elections. Failure to inform the ISO of a default election change in writing by the Oct. 15 deadline will result in the continuation of the current default election for the following calendar year. Market participants that have not made a default election will be subject to default election option 1 for 2024.
Default election option 1
For market participants electing default election option 1, the methodology for allocating payment default amounts will apply to each scheduling coordinator identification (SCID) of such market participant on an SCID-by-SCID basis, and each SCID of such market participant will be a default-invoiced SCID for purposes of the default loss allocation provisions of the ISO tariff.
Default election option 2
Market participants electing default election option 2 must certify that they meet certain eligibility criteria set forth in the ISO tariff and the entity must agree that the netting methodology for allocating payment default amounts will apply to all SCIDs created for use under all of the effective contracts with the ISO based on a consolidation of data for all such SCIDs. Further, each market participant electing default election option 2 must select a single SCID to be the sole default-invoiced SCID under option 2.
More information on default elections is available in the ISO Tariff Section 11.29.17.2.4 available on the ISO website.
