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Miscellaneous

Miscellaneous Provisions for Use with the EEI Master Contract

Uniform Commercial Code Waiver

Market Disruption

This provision, used for transactions with Index-based pricing, addresses the possibility that an Index is altered or is no longer available. It may be appropriate if Transactions with index-based pricing are envisioned, and the parties desire to provide for an alternative basis for determining the Contract Price should the relevant index be substantially altered or no longer published. 

  • PREVIOUS MARKET DISRUPTION Version 1.0
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Master MRTU Amendment

This amendment is intended to address changes that entities may want to consider arising from the implementation of the Market Redesign and Technology Upgrade ("MRTU") program by the California Independent System Operator ("CAISO"). The CAISO will commence reporting, among other things, day ahead hourly locational marginal pricing information ("Day-Ahead LMP Price") for various P-nodes and aggregation and hub points. Furthermore, the former zonal regions in the CAISO known as SP15 ("SP15 Zone") and NP15 ("NP15 Zone") will no longer exist and will be replaced with Existing Zone Generation Trading Hubs known as the SP15 EZ Gen Hub ("SP15 EZ Gen Hub") and the NP15 EZ Gen Hub ("NP15 EZ Gen Hub").

Historical index or swap transactions, however, typically referenced the day-ahead peak or off-peak weighted average index price ("ICE Day-Ahead Power Price") as published in the Day Ahead Power Price Report by the IntercontinentalExchange, Inc ("ICE") for the SP15 Zone and/or the NP15 Zone, as applicable, for purposes of determining either the contract price (or other similar reference) for physical delivery of power or the relevant index price (or other similar reference) for financially-settled power. Post MRTU, the reference to this ICE Day-Ahead Power Price may not be preferable. Similarly references to the SP15/NP15 Zones may be considered inappropriate since they have been replaced by the EZ Gen Hubs. Therefore, this amendment is intended to allow parties to revise the terms of each impacted transaction on a global basis in order to substitute the Day-Ahead LMP Prices at the SP15 EZ Gen Hub and/or the NP15 EZ Gen Hub, as applicable, for the ICE Day-Ahead Power Price for the SP15 Zone and/or the NP15 Zone, as applicable and to revise the references to the SP15/NP 15 Zones the corresponding EZ Gen Hubs.



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