ISO New England assesses late fees for repeated late invoice payments. The late fee is calculated as the greater of 2% of the total amount paid late or $500.00. Interest charges are also assessed—see the Interest Charges page.
The provisions of late fees are found in the ISO New England Billing Policy.
Market participants who pay their invoices late more than once within a 12-month period are charged the late fee on the next monthly bill for each late payment made after the first time.
Late fees are included on the monthly bill. The line item is entitled “Late Fees.”