Market settlement, accounting, credit, and finance functions fall under the auspices of the Chief Financial Officer. Market settlements activities focus on the accurate and timely invoicing of a broad range of unbundled wholesale power market products offered by the NYISO, as well as providing for the effective distribution of data that the settlements are based on. Settlement details and their associated determinant data are provided to Market Participants (MPs) through the NYISO Decision Support System, a Web-based data warehouse. The DSS gives MPs on-demand accessibility to reports for each Market product, designed to provide settlements and settlement details, from five-minute intervals for Real-Time markets to daily settlement values.
Accounting & Billing
The Accounting & Billing Manual supports MPs' efforts to reconcile settlements by providing clear and concise settlement business rule descriptions using the same data labels as those in the DSS's predefined reports. Settlements are invoiced monthly and transacted electronically. The electronic invoices are accessed by MPs through a Web browser.
Billing & Settlements
Per the ISO Services Tariff, any disputed amounts are to be paid in full. Upon resolution of the dispute, if it is determined that an overpayment has been made by the customer, a refund, with interest, will be made by the NYISO.
This Department assesses credit of MPs & assists in mitigating defaults that would otherwise be mutualized among MPs. Based on the assessments, Credit will assign a level of unsecured credit to credit worthy MPs or request collateral to support activity in the NYISO-administered markets.
Contact Financial Services
Should you have any questions, comments or issues regarding Billing and Settlements or Credit, please feel free to contact NYISO Financial Services below.