FERC-Directed Compliance Clause Samples
The FERC-Directed Compliance clause requires parties to take specific actions or make changes to their agreement or operations in order to comply with directives, orders, or requirements issued by the Federal Energy Regulatory Commission (FERC). In practice, this means that if FERC issues a new rule or order affecting the agreement, the parties must promptly amend their practices or contractual terms to ensure compliance. This clause ensures that the agreement remains legally valid and up-to-date with evolving regulatory requirements, thereby reducing the risk of non-compliance and potential penalties.
FERC-Directed Compliance. The FERC Settlement Order shall constitute authorization and direction to the ISO and PX to implement the terms of this Agreement. As a result of the FERC’s approval of this Agreement in the FERC Settlement Order, the ISO and/or PX shall be required to do the following:
FERC-Directed Compliance. The FERC’s approval of this Agreement in the FERC Settlement Order shall constitute its direction to each of the CAISO and the PX to do all of the following: