3.18Stranded Cost Recovery

The Transmission Owners other than NYPA may seek to recover stranded costs from the Point‑to‑Point Transmission Customer pursuant to this Tariff in accordance with the terms, conditions and procedures set forth in FERC Order No. 888.  However, the Transmission Owners must separately file any proposal to recover stranded costs under Section 205 of the FPA.  This provision shall not supersede or otherwise affect a Transmission Owner’s right to recover stranded costs under other authority.  To the extent that LIPA’s rates for service are established by the Long Island Power Authority’s Board of Trustees pursuant to Article 5, Title 1‑A of the New York Public Authorities Law, Sections 1020‑f(u) and 1020‑s and are not subject to Commission and/or PSC jurisdiction, LIPA’s recovery of stranded costs will not be subject to the foregoing requirements.

Upon filing of a proposal to recover stranded costs under the FPA, the Transmission Owner shall immediately provide the ISO with a copy of the appropriate rate schedule which will be incorporated as a new SIRC rate schedule under this Tariff, subject to refund as may be required by the Commission.  The ISO shall collect such SIRC from Network Service Customers and remit the collected amounts to the applicable Transmission Owner(s).  Any SIRC rate schedule developed by LIPA under this Tariff will be effective upon receipt by the ISO, subject to any applicable laws and orders.