RBowers@nyiso.com writes to the NYISO_TECH_EXCHANGE Discussion List:

In its Order on Rehearing issued by FERC in Docket ER00-1969-002 on
November 8, 2001, the Commission directed the NYISO to re-calculate
operating reserve charges for March 2000 within 15 days.

The  NYISO  initiated  the  rebilling of March 2000 settlements through the
settlement  adjustment  process  on  the  afternoon  of  November 21, 2001.
Advisory  billing  statements  have  been posting to customer web locations
since  midnight November 22, 2001.  The NYISO anticipates completion of the
March 2000 settlement adjustment at approximately 18:00, November 23, 2001.
Posting  of  advisory billing statements will continue through the evening,
but should complete by 23:00.  Invoices are scheduled to be posted for this
settlement adjustment on, or about, December 7, 2001.

Regards,
Randy A. Bowers
Manager - Customer Settlements

----- Forwarded by Randy Bowers/NYISO on 11/23/01 09:37 AM -----

                    Randy Bowers
                                         To:     nyiso_cset@lists.nyiso.com, TIE List Server
                    11/19/01 11:41       cc:
                    AM                   Subject:     FERC ruling on March 2000 Operating Reserves





In  its  Order  on  Rehearing  issued  by  FERC  in Docket ER00-1969-002 on
November 8, 2001, the Commission rejected the NYISO's request for rehearing
to  continue  to  bill for operating reserves based on the $2.52 bid cap in
effect  for  the period March 1 through March 27, 2000.  FERC also directed
the NYISO to re-calculate operating reserve charges for that period without
the bid cap in place.

On Friday, November 16, 2001, the NYISO filed a stay/extension with FERC in
order  to postpone any re-billing pending an appeal of the FERC decision in
the  Federal Appeals Court. In the event that FERC does not act in a timely
manner   on  the  NYISO's  request,  the  upcoming  March  2000  settlement
adjustment,  expected  to  be  issued  on  or  about December 7, 2001, will
reflect  this  re-calculation in accordance with the FERC Order.  The total
amount  of  this  adjustment  is  approximately  $27 million, which will be
allocated  to the appropriate suppliers and LSE's for the period of March 1
through March 27, 2000.

Regards,
Randy A. Bowers
Manager - Customer Settlements