The mission of the EEI Contract Drafting Committee (CDC) is to promote liquidity and reduce transaction costs in U.S. wholesale electricity and related markets, as follows:
(1) Standardized Contracts. To develop and promote the use of standardized contracts and product descriptions for physical energy transactions in U.S. wholesale markets, with a preference for the EEI Agreement and other standardized, EEI-based agreements;
(2) Standardized Optional Provisions. To develop industry consensus positions and publish suggested contract provisions based on those positions for use, (i) as optional provisions in EEI Agreements and other standardized EEI documents, and/or (ii) in confirmations to document certain types of transactions under EEI Agreements; and
(3) Keep the Industry Informed. To inform energy attorneys, credit risk managers, contract administrators, and other energy industry professionals of emerging issues and possible ways to solve those issues by using standardized contracts.
The EEI Contract Working Group (CWG) is a broad group of market participants that includes risk managers and other stakeholders who are interested in providing input to the CDC and staying abreast of its activities. Both the CDC and CWG include representation not just from shareholder-owned utilities but all market participants (e.g., coops, banks and marketers, as well as outside counsels).
For more information on the Contract Drafting Committee or to join the Working Group contact us.