Docket No. ER15-2349-000 1

FEDERAL ENERGY REGULATORY COMMISSION

WASHINGTON, D.C. 20426

OFFICE OF ENERGY MARKET REGULATION

New York Independent System Operator, Inc.

Docket No. ER15-2349-000

Issued: September 17, 2015

Hunton & Williams LLP

951 E. Byrd Street

Richmond, VA 23219-4074

Attention:Heather S. Glass, Esq.

Counsel to the New York Independent System Operator, Inc.

Reference: ICAP Spot Market Auction Credit Requirement

Dear Ms. Glass:

On July 31, 2015, you submitted, on behalf of the New York Independent System Operator, Inc. (NYISO), revisions to attachment K of NYISO’s Market Administration and Control Area Services Tariff.[1] The revisions enhance NYISO’s ICAP Spot Market Auction credit requirement to more accurately reflect NYISO’s credit exposure by providing for the netting of a Market Participant’s purchases and sales across localities when calculating the Market Participant’s bidding requirement. You state that under the proposed tariff revisions a Market Participant that is required to post credit support for a deficiency in one locality in the ICAP Spot Market Auction will have its credit requirement offset to the extent of its sale of any excess capacity in another locality.

Pursuant to the authority delegated to the Director, Division of Electric Power

Regulation – East, under 18 C.F.R. § 375.307, your submittal is accepted for filing, effective October 28, 2015, as requested.

The filing was noticed on July 31, 2015, with comments, interventions and protests due on or before August 21, 2015. Pursuant to Rule 214 (18 C.F.R. § 385.214 (2015)), to the extent that any timely filed motions to intervene and any motion to intervene out-of-time were filed before the issuance date of this order, such interventions are granted. Granting late interventions at this stage of the proceeding will not disrupt the proceeding or place additional burdens on existing parties.

This acceptance for filing shall not be construed as constituting approval of the referenced filings or of any rate, charge, classification, or any rule, regulation, or practice affecting such rate or service contained in your filings; nor shall such acceptance be deemed as recognition of any claimed contractual right or obligation associated therewith; and such acceptance is without prejudice to any findings or orders which have been or may hereafter be made by the Commission in any proceeding now pending or hereafter instituted by or against NYISO.

This order constitutes final agency action. Requests for rehearing by the Commission may be filed within 30 days of the date of issuance of this order, pursuant to 18 C.F.R. § 385.713.

Sincerely,

Kurt M. Longo, Director

Division of Electric Power

Regulation – East