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

Market Participants:

In a billing inquiry sent to us concerning the June 2000 adjustments
made per the email below, which was sent on 7/10/2000, we noticed
an incorrect value was stated for the NYISO clearing account balance
prior to adjustment.  That value was $7,831,072.52.  The value should
have been $7,262,238.10, and this has caused problems for reconciling
your invoices.

We apologize for any confusion that may have been caused by this
misstatement.  Any questions concerning this issue can be directed to
customer relations at 518-356-6060.

__________________________________________________________

"Customers should note that their invoices have been adjusted to recognize
a net zero impact to the NYISO clearing account.  Each settlement
adjustment was  performed to report each customers' share in residual
adjustments and uplift.  In the initial billing of these periods, the
monthly OATT Schedule 1 rates were computed with forecasted residual &
uplift costs.  Had the NYISO settled residuals and uplift in the current
period, as it now does, customers would have realized these costs
immediately.  The advisory billing statement formats now reported by the
NYISO allow customers to see the actual costs of these components.  Once
the net NYISO clearing account impact from these billings was determined,
an adjustment was computed based upon customers' respective ratio shares of
transmission service settled during each month, adjust these costs out of
their settlements.  Any difference between the adjustment and residual &
uplift costs reported on the advisory statements are due to additional
residuals or uplift from the settlement adjustment process."

June 2000 adjustment to recognize a net zero impact to the NYISO clearing
account:

NYISO clearing account balance prior to adjustment:     (strikethrough:
$7,831,072.52 ) $7,262,238.10

Customer Adjustment:     Customers' June 2000 Transmission Service
Transacted x (strikethrough: $7,831,072.52)  $7,262,238.10/ 13,825,630 MWh