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June 11,2014 |NEPOOL Markets Committee

June 11,2014 |NEPOOL Markets Committee. Ryan McCarthy. rYMCCARTHY@iso-ne.com | 413.535.4071. Conforming Changes Related to Capacity Zone Modeling. CAPACITY ZONE MODELING: CONFORMING RULES. Changes are required in Market Rule 1 to conform to Capacity Zone Modeling changes.

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June 11,2014 |NEPOOL Markets Committee

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  1. June 11,2014 |NEPOOL Markets Committee Ryan McCarthy rYMCCARTHY@iso-ne.com | 413.535.4071 Conforming Changes Related to Capacity Zone Modeling CAPACITY ZONE MODELING: CONFORMING RULES

  2. Changes are required in Market Rule 1 to conform to Capacity Zone Modeling changes • FERC accepted the ISO’s compliance filing on Capacity Zone Modeling on April 28, 2014 • Conforming changes are required to Section III.13 of the Market Rule and Manual 20 • Document all municipal utility ownership shares of Pool-Planned Units • Conform Section III.13 of Market Rule 1 to the recently accepted Capacity Zone modeling rules in Section III.12 • In addition to the conforming changes, the ISO is also proposing to modify the restrictions for trading CSO Bilaterals between locations

  3. Modified Slide Document original municipal utility ownership shares of Pool-Planned Units • Section III.13.7.3.3.6 will be updated to reflect all original (i.e. initial)municipalutility entitlement holders of resources constructed as a Pool-Planned Units • Future Capacity Zone formation will be dynamic and updating this now will avoid needing to revise this in the future

  4. Additional conforming changes are required to Section III.13 of Market Rule 1 • Similar to Section III.12, Section III.13 requires the term Load Zone to be replaced with Capacity Zone

  5. Additional changes to the proposed CSO Bilateral trading rules asked to be evaluated • ISO reviewed the participant proposal presented at the Dec-2013 MC which allowed for the bidirectional trading of CSO Bilaterals across Capacity Zones, limited by the Local Sourcing Requirements and Maximum Capacity Limits • During the ISO’s April 2014 Markets Committee presentation on CSO Bilateral trading, participants requested additional changes to allow “netting” and to remove the CSO Bilateral locational limitations on Import Resources • The ISO determined that in addition to the changes to allow bidirectional trading of CSO Bilaterals, “netting” CSO Bilaterals and the elimination of Import Resource locational restrictions can also be implemented

  6. Proposed CSO Bilateral trading rules allow for more robust trading between locations • Capacity resources will be permitted to enter into CSO Bilaterals across External Interfaces and Capacity Zones while adhering to transmission limits, Local Sourcing Requirements and Maximum Capacity Limits • Bidirectional monthly CSO Bilaterals will be accepted or rejected based upon their confirmation timestamp • There is no change from current process • Annual CSO Bilaterals will include a “netting” calculation that first sums all transactions, then if required, annual CSO bilaterals will be accepted or rejected based upon their confirmation timestamp

  7. Proposal Summary and Schedule • Conform Section III.13 to the Capacity Zone Modeling changes • Document Ownership Shares of Pool-Planned Units • Allow for bidirectional trading of CSO Bilaterals between Capacity Zones and remove Import Capacity Resource locational restrictions • This changes are scheduled to be effective April 2015

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