EEI facilitated industry-wide collaboration with the National Energy Marketers Association and others to develop this model bilateral master agreement, containing the essential terms governing forward purchases and sales of wholesale electricity.
In January 1999, a group of more than 80 EEI member utilities, affiliated and independent power marketers, merchant power, and end-use representatives formed a working group and contract drafting committee to prepare the Master Contract. New provisions are drafted as needed to reflect market changes.
The Master Contract provides the following benefits: streamlines establishing a trading relationship, provides real-time credit provisions, standardizes product definitions, and focuses traders on the transaction's basic negotiable elements, e.g., price, quantity, location, and duration.
Optional Provisions for Use with the EEI Master Contract
The EEI Master Contract Drafting Committee is making available the following optional contract terms and conditions and region-specific product definitions to provide users of the Master Contract with maximum flexibility and the ability to keep up with market developments.
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.