Common use of Exhibit B: NPCC Governance Structure Clause in Contracts

Exhibit B: NPCC Governance Structure. 290. NERC, in its transmittal letter, asserts that NPCC’s governance structure satisfies the requirements of FPA section 215 because, among other things: (i) NPCC will have a combination independent and balanced stakeholder board; and (ii) NPCC is not a user, owner, or operator of bulk-power system facilities. NERC and NPCC also represent that the NPCC Delegation Agreement satisfies the five Governance Criteria set forth in Exhibit B of the pro forma Delegation Agreement. NPCC’s governance structure is established under its bylaws (NPCC bylaws), which are included in NERC’s submittals as supplemental information.