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Product Provisions for Use with the EEI Master Contract
MISO APRC Confirmation
This document is intended to facilitate the documentation and trading of Aggregate Planning Resources Credits, as defined by MISO, relating to the requirements of Module E of the MISO Open Access Transmission and Energy Markets Tariff. As set forth in the confirmation, one Aggregate Planning Resource Credit represents one megawatt (“MW”) of Unforced Capacity, as defined by MISO, which qualifies to satisfy the resource adequacy requirements of Module E of the MISO Tariff starting June 1, 2009.
Parties that have entered into transactions using the MISO Module E Capacity Transaction Confirmation dated October 20, 2008 (Version 1.0 or Version 1.1) are advised to seek appropriate legal and accounting advice to determine whether such confirmations should be amended or replaced using the MISO Aggregate Planning Resources Credit Transactions Confirmation.
MISO Module E Capacity Confirmations
These documents are intended to facilitate the trading of capacity products in MISO in accordance with the requirements of Module E of the MISO Open Access Transmission and Energy Markets Tariff. As MISO is currently implementing revisions to Module E, as approved by FERC, the first document (i.e., Version 1.0) is meant to facilitate the trading of capacity products in MISO until such revisions are fully implemented.
The second document (i.e., Version 1.1) is intended to facilitate trading of capacity products with delivery periods occurring after full implementation of the revisions to Module E. However, full implementation of the revisions to Module E would not invalidate the use of the first document (i.e., Version 1.0); rather, such document contains additional provisions regarding the requirements of Module E prior to full implementation of the revisions to Module E that are not necessary for transactions with terms after the effective date of full implementation of the revisions to Module E. The second document (i.e., Version 1.1) does not contain these additional provisions.
ERCOT Seller's Choice Language
The optional ERCOT Seller’s Choice Language is an attempt to provide clarity around the obligations of a Buyer and Seller of electricity when they enter into an “ERCOT Seller’s Choice” product. Some of the more useful features of the Language include clear scheduling timeframes which Seller must adhere to in designating the Delivery Point for a given day, as well as Buyer’s remedies if Seller fails to designate the Delivery Point by the relevant deadline. The Language addresses not only the current ERCOT zonal structure but also the upcoming LMP market structure.
ERCOT Delivery Point Language
The optional ERCOT Delivery Point Language is an attempt to provide clarity and certainty to the obligations of a buyer and seller of electricity if and when ERCOT redrafts ERCOT Congestion Zone boundaries or if and when LMP is introduced in ERCOT, based on the information that is available today.
Version 1.2
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SP15/NP15 Delivery Point Definition
The optional SP15/NP15 Delivery Point Definition is an attempt to provide clarity and certainty to the obligations of a buyer and seller of electricity if and when LMP is introduced in California based on the information that is available today.
- SP15 /NP15 (LMP-EEI) Delivery Point Definitions - Discussion of Optional Provisions
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- SP15 (LMP-EEI) Delivery Point Definition
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- NP15 (LMP-EEI) Delivery Point Definition
Word | PDF
Capacity Products
These definitions facilitate the trading of regional capacity products.
This definition is intended to facilitate the trading of non-unit specific capacity products in PJM on and after June 1, 2007 when PJM implements its Reliability Pricing Model (RPM) capacity market. Version 1.1 updates the product definition as a result of changes made by PJM to the RPM Business Rules that (1) address default to PJM by either buyer or seller and (2) update the list of pricing points.
"CAISO Energy"
An optional definition may be used with the Master Contract for transactions involving energy delivered at a California Delivery Point. This traded product is commonly known as "CAISO Energy." The following entities have agreed to use this definition: American Electric Power, Calpine, Constellation Power Source, Dynegy, Edison Mission Energy, El Paso Merchant Energy, Enron, Mirant, PG&E National Energy Group, Reliant Energy Services, Southern California Edison, Tractebel, and the Williams Companies.
DISCLAIMER:
THE DOCUMENTS AND DESCRIPTIONS ON THIS PAGE ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DO NOT CONSTITUTE LEGAL ADVICE. CONSULT WITH LEGAL COUNSEL BEFORE USING THE INFORMATION AND DOCUMENTS PROVIDED ON THIS PAGE.