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There are four forms of financial assurance available at ISO New England:
Material changes to template language must be brought before the NEPOOL Budget & Finance Subcommittee. There is a $1,000 fee associated with this process. The fee will be billed on the next non-hourly invoice.
There may be times when you are unable to supply day-ahead committed resources in real-time, which would result in settlement obligations. The Initial financial assurance requirement is, in part, to cover for this default risk.
You have five business days to cure a 90% Credit Test default and until noon the following business day to cure a 100% Credit Test default (please note that virtual bids resulting in a Credit Test Percentage (CTP) greater than 99.99% will be rejected with no cure period). Rejected bids cannot be reversed.
There will be a $1,000 penalty for each default event subsequent to the issuance of the fifth default notice in a 12-month rolling period.
Access the Web-based training developed to provide detailed explanations on the calculation of participants Financial Transmission Rights and Virtual Financial Assurance requirements within the ISO New England market. Approximate viewing time is 29 minutes
Access the Web-based training developed to provide details on FCM Financial Assurance requirements. Approximate viewing time is 35 minutes
Details of the suspension process are described in the following documents:
