Here is the ultimate indignity.  just talked to IEP.  They are planning to file a complaint at FERC -- we agreed -- the best idea is to get some media play first though.  IEP press conference later today will address the continuing non-payment issue.

-----Original Message-----
From: CRCommunications [mailto:CRCommunications@caiso.com]
Sent: Tuesday, September 04, 2001 3:50 PM
To: SC Settlements Contacts; ISO Market Participants
Cc: Waas, Gene
Subject: CAISO Notice - Temporary Suspension of Preliminary Market
Invoices 


ISO Market Participants
SC Settlement Contacts
On August 30, 2001, the ISO distributed a notice indicating that it would
suspend until further notice making cash distributions based on preliminary
invoices.  The Notice further indicated that this practice will be effective
for the June, 2001 and subsequent preliminary invoices until the ISO issues
a further Market Notice addressing cash distributions based on preliminary
invoices.
The ISO has determined that, effective for a temporary period beginning with
the July 2001 trade month, it is appropriate not only to defer ISO cash
distributions based on preliminary invoices but also to defer issuance of
the preliminary invoices themselves.  Thus, the ISO will neither collect nor
disperse funds until the final invoice is prepared and distributed.
Beginning with the July 2001 trade month, and until the ISO issues a further
Market Notice addressing preliminary invoices, the ISO will issue a single
monthly invoice on the date that it issues the Final Settlement Statement
for the last Trade Day of the calendar month.  The ISO intends to distribute
market payments received based on this single invoice within five business
days from the final payment date specified on the invoice.
This suspension of the "two invoice" settlements approach is a temporary
action which the ISO has determined it must take to address the problems
created not only by recent large adjustments between preliminary and final
invoices but also by Scheduling Coordinators that have failed to make full
or timely payments on preliminary invoices due to unauthorized "netting" or
other practices that are contrary to their payment obligations.  The ISO is
considering how best to solve these problems permanently and will issue a
subsequent Market Notice concerning this issue within two months.
As noted in the August 30 Notice, the ISO will be filing Tariff revisions
with FERC to reflect these changes.
Client Relations Communications
CRCommunications@caiso.com