Jun 30, 2025 – FAP Changes to Letter of Credit (LC) Issuer Eligibility, Forms of LC, Security and BlackRock Control Agreements
Date:
Jun 30, 2025
Proceeding Type:
FAP Changes to LC Issuer Eligibility, and Forms of LC, Security and BlackRock Control Agreements
Docket:
ER25-2709
Brief Description:

ISO-NE and NEPOOL jointly submit revisions to the FAP to (i) amend certain FAP provisions to add two new circumstances under which ISO-NE may draw upon a Market Participant’s letter of credit (“LC”) form of financial assurance (the “Risk Mitigation Draws”); (ii) modify the eligibility criteria for banks that issue LCs to ISO-NE; and (iii) conform several other FAP provisions regarding the forms of acceptable financial assurance

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