I donlt thin the ISO has the right to do this unilaterally.  They must have some cash flow problems. We could tell FERC -- but then FERC wouldn;t do anything anyway
-----Original Message-----
From: CRCommunications [mailto:CRCommunications@caiso.com]
Sent: Thursday, August 30, 2001 3:19 PM
To: ISO Market Participants; SC Settlements Contacts
Subject: CAISO Notice - June Preliminary Market Invoice Cash
Distribution Deferral


ISO Market Participants
SC Settlement Contacts
As you know, the ISO Payments Calendar currently provides for cash
distributions twice monthly, based on both the preliminary and final
invoices.  However, due to the ongoing market reruns and the recent large
adjustments between preliminary and final invoices, the ISO will suspend
until further notice making cash distributions based on preliminary
invoices.  This practice will be effective for the June, 2001 and subsequent
preliminary invoices and will remain in effect until the ISO issues a
further Market Notice addressing cash distributions based on preliminary
invoices.
The ISO will hold and invest the proceeds received from the preliminary
invoices and will include those proceeds, including interest, with the cash
distributions for the final monthly settlement.  The ISO will distribute the
funds within five business days from the final payment date.  We expect to
distribute the payment for June during the week of September 20th.
The ISO will be filing Tariff revisions with FERC to reflect these changes.
Client Relations Communications
CRCommunications@caiso.com