Notice
Sept. 28, 2022
REQUESTED ACTION
Information Only
CATEGORIES
Markets
Market Participant Payment Default on 9/27/22
MESSAGE

On Tuesday, Sept. 27, 2022, Bia Capital Management LLC failed to pay a market invoice due to the California ISO. The ISO applied the collateral it was holding, and covered the remaining shortfall of $7,233 with funds from the penalty reserve account as required by section 11.29.13.4 of the tariff. 

 

Bia Capital Management LLC ceased trading after Sept. 6, 2022. The ISO does not currently have any reason to believe that Bia Capital Management will receive significant market charges on future recalculation settlement statements.

 

The ISO will continue to pursue collection from Bia Capital Management LLC in order to replenish the penalty reserve account, which holds a balance of $23,636 after Tuesday’s, Sept. 27, 2022, withdrawal. To the extent the ISO’s collection efforts are unsuccessful, the loss will remain with the penalty reserve account and will not be charged back to ISO market participants, consistent with California Independent System Operator Corp., Order Conditionally Accepting Tariff Revisions, 131 FERC ¶ 61,009 (April 6, 2010) PP 30-32.

CONTACT INFORMATION

Please contact Christina Billing at 916-351-2204 with any questions.

California Independent System Operator | P.O. Box 639014 | Folsom, CA 95630 | United States
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