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Issue Details
Issue Details
Default Liquidation Provisions
Under Operating Agreement section 15.2, when a Member defaults on a payment obligation, the net shortfall, after liquidating the Member’s positions and applying any applicable setoffs, is absorbed by the remaining membership. There are, however, no provisions in the PJM governing documents to account for the situation that can occur when the liquidation results in a net gain, and the net gain exceeds all other obligations of the Member.
Additionally, although there are defined rules for liquidating the FTR positions of a defaulting member, there are currently no defined rules for liquidating the RPM commitments of a defaulting member.
Problem Statement
PDF
Issue Charge
PDF
Issue Details
Strategic Focus Area:
Administration
Issue Status:
Evaluation in Progress
Stakeholder Body:
Credit Subcommittee
Stakeholder Process Status:
Approved
Issue Catalyst:
PJM
Date Created:
6.7.2017
MC Approval Date:
Target Completion Date:
12.31.2017
Actual Completion Date:
FERC Filing(s):
TBD
Agreement Change(s):
Open Access Transmission Tariff, Reliability Assurance Agreement
Manual Change(s):
No
MC Annual Plan:
2019
Associated Documents
Governing Documents
Date
Documents
2.12.2018
Meeting materials from the CS meeting
Agenda
PDF
Agenda
DOC
Draft Minutes - CS - 1.11.2018
PDF
6.15.2018
Meeting materials from the CS meeting
Agenda
PDF
Agenda
DOC
Draft Minutes - CS - 6.4.2018
PDF
9.28.2018
Meeting materials from the CS meeting
Agenda
PDF
Agenda
DOC
8.21.2018
Meeting materials from the CS meeting
Agenda
PDF
Agenda
DOC
1.11.2018
Meeting materials from the CS meeting
Agenda
PDF
Agenda
DOC
Draft Minutes - CS - 11.9.2017
PDF
7.13.2018
Meeting materials from the CS meeting
Agenda
PDF
Agenda
DOC
6.7.2017
Meeting materials from the MIC meeting
Agenda
PDF
Item 2 - Draft Minutes - MIC - 5.3.2017
PDF
Item 10A - Default Liquidation Provisions - CS
PDF
Item 10B - Default Liquidation Provisions Problem Statement
PDF
Item 10C - Default Liquidation Provisions Issue Charge
PDF
Item 10C - Default Liquidation Provisions Issue Charge - Post-Meeting
PDF
8.1.2017
Meeting materials from the CS meeting
Draft Minutes - CS - 7.11.2017
PDF
9.17.2018
Meeting materials from the CS meeting
Draft Minutes - CS - 8.21.2018
PDF
5.3.2017
Meeting materials from the MIC meeting
Agenda
PDF
Agenda
DOC
Item 11A - Default Liquidation Provisions - CS
PDF
Item 11B - Default Liquidation Provisions Problem Statement
PDF
Item 11C - Default Liquidation Provisions Issue Charge
PDF
11.9.2017
Meeting materials from the CS meeting
Agenda
PDF
Agenda
DOC
7.12.2017
Meeting materials from the MIC meeting
Item 2 - Draft Minutes - MIC - 6.7.2017
PDF
3.14.2018
Meeting materials from the CS meeting
Agenda
PDF
Agenda
DOC
Draft Minutes - CS - 2.12.2018
PDF
Date
Type
Documents
There are no governing documents currently associated with this issue