RE: $20,000 DAM adder

"Depillo, Raymond V." <Raymond.Depillo@pseg.com< writes to the
NYISO_TECH_EXCHANGE Discussion List:

Don,

There is no question you are right - this can happen. You also know in
trading there is no transaction without risk (especially in NY). Do you
trust the ISO and their software to effectively implement a whole new
settlement? You may also be aware of some of the gaming opportunities that
arose when they looked into implementing the BME settlement. The proposed
solution seems to eliminate most of the gaming, and yes, shifts more risk
over to the market participant. Sometimes we have to take the bad with the
fair. The 20k adder didn't fix anything - it only gave DAM transactions a
higher priority - if you want that security it is still open to you. All
this does is give you the option to have the ISO evaluate your transaction
again the real-time . . . like any option, you don't have to exercise it.

Good luck,

Ray