ISO Settlements Disputes Clause Samples
The ISO Settlements Disputes clause establishes the procedures for resolving disagreements related to settlements under the ISO (Independent System Operator) market rules. Typically, this clause outlines the steps parties must follow to dispute charges, adjustments, or calculations made by the ISO, such as submitting a formal notice of dispute within a specified timeframe and providing supporting documentation. Its core function is to ensure that any errors or disagreements in market settlements are addressed in a structured and timely manner, thereby promoting fairness and accuracy in financial transactions between market participants and the ISO.
ISO Settlements Disputes. Utility shall review, validate and verify all ISO charges/credits contained on all ISO settlement statements, including any charges/credits resulting from the operational, dispatch, and administrative functions related to the Contracts. Utility shall inform DWR of any discrepancies and shall dispute any such discrepancies with the ISO in accordance with the ISO’s tariff and protocols. Except as provided in Section 13.03, if any ISO charge type settlement amount appearing on a Preliminary or Final Settlement Statement (as defined in the ISO tariff) resulting or relating to the Utility’s performance of functions related to the Contracts under this Order is in dispute, it shall be the responsibility of Utility, on behalf of DWR, to seek resolution of said dispute through the ISO dispute resolution process as provided in the ISO’s tariff. For disputes affecting Utility’s Remittances to DWR, including disputes on ISO charges to non-DWR parties that would affect Remittances to DWR, Utility shall provide to DWR: a) notification of submission of the dispute through the ISO dispute resolution process, identifying, among other items, the dispute type, quantity, price and allocation; b) a copy of the submitted dispute and all supporting data; and c) a copy of all ensuing documentation resulting from the ongoing dispute resolution process. Utility shall track and validate all disputed ISO charges involving any financial responsibility of DWR.