Market Problems Reporting Procedure Clause Samples

Market Problems Reporting Procedure. Upon ISO discovery of a potential Market Problem, the ISO will immediately report the Market Problem to the Market Monitoring Unit and to the Commission’s Office of Enforcement. The ISO will then report the Market Problem to Market Participants, subject to applicable confidentiality restrictions, unless it is determined in consultation with Commission staff that disclosure could lead to gaming or other harmful outcomes. The report will also be provided to Market Participants in an e-mail notice with this subject line: "Notice of a Market Problem." The ISO will accomplish all three of the above steps as soon as possible, but in no event longer than five calendar days after discovery of the potential Market Problem. In the event of a determination that disclosure of a Market Problem could lead to gaming or other harmful outcomes, ISO, unless otherwise directed by Commission staff, will provide notice to the Market Participants of the identification of a potential Market Problem and the conduct of a confidential investigation. Thereafter, the ISO shall consult with Market Participants as soon as practicable after resolution of the underlying issue pursuant to direction from the Commission. In the event of an exigent circumstances filing of tariff amendments pursuant to Article 19 of the ISO Agreement, this consultation would include seeking concurrence on the Section 205 filing from the Management Committee. If no exigent circumstances filing is made, the ISO will provide an opportunity for Market Participants to comment prior to a request to FERC for a tariff waiver or other remedy. In the ISO’s reports to Market Participants, subject to applicable confidentiality restrictions, the NYISO will provide the following information: • Description of the Market Problem and tariff implications as appropriate; • Description of the time frame involved; • Description of underlying cause of the Market Problem; • Description of economic impacts; and • Description of steps planned or taken to address the Market Problem including a proposed timetable for the developing necessary tariff revisions, if applicable, as developed in consultation with Market Participants. The ISO will also report when it determines a Market Problem investigation has concluded. Except where a longer period of analysis is required, the ISO will provide an explanation to all Market Participants of its proposed steps to address the Market Problem as soon as reasonably possible, but in no event later ...