What has changed under RTM capacity deficient conditions?
After the ISO issues an M/LCC 2 Abnormal Conditions Alert, any Export transactions that were submitted only to the RTM are subject to reduction before other Export transactions that cleared the DAM. If Operating Procedure 4, Action During a Capacity Deficiency (OP 4) is declared, transactions that cleared the DAM will be reduced as defined within the ISO Manual for Market Operations, M-11, and OP 4 to mitigate the emergency condition. Prior to reducing any Export transactions that have cleared the DAM, the ISO will attempt to schedule all priced Import transactions. To the extent that priced Import transactions supporting an ICAP Import Contract are not available to be scheduled, they may be assigned a “Failure to Deliver” penalty.
