ISO New England assesses this charge to cover banking fees for a line of credit that serves as the shortfall funding arrangement in the event of a payment default on a settlement invoice.
The provisions of the NEPOOL line of credit are found in the ISO New England Billing Policy. Further details can be found on the billing job aid for the corresponding bill on which the fee appears, available on the Understanding the Bill page.
Each market participant who receives an ISO Invoice or ISO Remittance Advice during a calendar month can expect to be allocated a portion of that month’s fees for the NEPOOL line of credit. Please refer to the billing job aid for details on how the charge is calculated.
The fee on the NEPOOL line of credit is billed for three months at a time and appears on the monthly bill on a quarterly basis. The line item on the bill is entitled “[Month]FeesonNEPOOLLineofCredit.”