caiso notice - underscheduling penalty and pg & e bankruptcy claims bar date
important notice
underscheduling penalty and
pg & e bankruptcy proof of claims
as you are aware , the claims bar date in the pg & e bankruptcy is september
5 th . consistent with our practice of providing information held by the iso
to market participants that concerns the amounts that may be owed to them in
part by pg & e , the iso is today sending to each scheduling coordinator an
accounting of the amounts it owes or is owed in the event the
underscheduling penalty is not modified by ferc . ferc adopted the
underscheduling penalty in a december 15 , 2000 order . because there are
several rehearing petitions pending regarding the underscheduling penalty ,
to date the iso has calculated but has not invoiced amounts owed or owing
pursuant to the underscheduling penalty . it is our expectation that
scheduling coordinators will share with individual entities for whom they
schedule , information that is relevant to them .
as we have advised in prior market notices , although the iso settles
transactions on behalf of market participants , the iso is neither authorized
nor in a position unilaterally to assert claims on behalf of market
participants in any bankruptcy proceeding , i . e . assert claims of " iso
debtors " against " iso creditors " ( iso tariff section 11 . 20 . 1 ) . further ,
while the iso may be asked by an " iso debtor " to assert such claims in the
px or pg & e bankruptcy cases , the iso is not obliged to do so and will
decline any such request . the iso expressly disavows any liability for any
market participant ' s claims , whether or not the market participant files any
such proofs of claim in the px or pg & e bankruptcy proceedings .
further , as we have advised in prior market notices , all statements ,
including the information sent today regarding the underscheduling penalty ,
are subject to change . a number of transactions are currently known to be
the subject of disputes and market reruns . there are also proceedings
pending at ferc , federal courts , and state courts , the outcomes of which may
affect amounts owed by pg & e to each market participant or by the market
participant to pg & e . in addition , we anticipate that further disputes and
proceedings may arise and market reruns may be performed that will affect
the calculation of such amounts . the iso will continue to work diligently
to resolve these matters as quickly as possible . nonetheless , it is clear
that significant issues may remain unresolved and / or unidentified by the
claims bar date .
market participants should consult their own legal counsel as to their
respective rights and proofs of claims in the bankruptcy cases of the px
and pg & e .
client relations communications
crcommunications @ caiso . com
caiso notice - underscheduling penalty and pg & e bankruptcy claims
bar date
important notice
underscheduling penalty and
pg & e bankruptcy proof of claims
as you are aware , the claims bar date in the pg & e bankruptcy is september
5 th . consistent with our practice of providing information held by the iso
to market participants that concerns the amounts that may be owed to them in
part by pg & e , the iso is today sending to each scheduling coordinator an
accounting of the amounts it owes or is owed in the event the
underscheduling penalty is not modified by ferc . ferc adopted the
underscheduling penalty in a december 15 , 2000 order . because there are
several rehearing petitions pending regarding the underscheduling penalty ,
to date the iso has calculated but has not invoiced amounts owed or owing
pursuant to the underscheduling penalty . it is our expectation that
scheduling coordinators will share with individual entities for whom they
schedule , information that is relevant to them .
as we have advised in prior market notices , although the iso settles
transactions on behalf of market participants , the iso is neither authorized
nor in a position unilaterally to assert claims on behalf of market
participants in any bankruptcy proceeding , i . e . assert claims of " iso
debtors " against " iso creditors " ( iso tariff section 11 . 20 . 1 ) . further ,
while the iso may be asked by an " iso debtor " to assert such claims in the
px or pg & e bankruptcy cases , the iso is not obliged to do so and will
decline any such request . the iso expressly disavows any liability for any
market participant ' s claims , whether or not the market participant files any
such proofs of claim in the px or pg & e bankruptcy proceedings .
further , as we have advised in prior market notices , all statements ,
including the information sent today regarding the underscheduling penalty ,
are subject to change . a number of transactions are currently known to be
the subject of disputes and market reruns . there are also proceedings
pending at ferc , federal courts , and state courts , the outcomes of which may
affect amounts owed by pg & e to each market participant or by the market
participant to pg & e . in addition , we anticipate that further disputes and
proceedings may arise and market reruns may be performed that will affect
the calculation of such amounts . the iso will continue to work diligently
to resolve these matters as quickly as possible . nonetheless , it is clear
that significant issues may remain unresolved and / or unidentified by the
claims bar date .
market participants should consult their own legal counsel as to their
respective rights and proofs of claims in the bankruptcy cases of the px
and pg & e .
client relations communications
crcommunications @ caiso . com