California ISO - Documents By Group

Outcome
The ISO implemented a make-whole adjustment mechanism to compensate market participants for adverse financial impacts in cases when prices are corrected in a way that is not consistent with their accepted demand bids. The make-whole adjustment applies to cleared Demand Bids including export and load in the event of an upward price correction. For export bids this applies to either day-ahead or hour-ahead price corrections, whereas for Demand Bids it would apply only to day-ahead price corrections.—Implemented: June 1, 2010; FERC Order: May 27, 2010 (ER10-966); Board of Governors approval: Feb. 10, 2010