Via its proposed Circular, the Department of Energy (DOE) is amending the ‘prudential requirement’ that a trading participant in the Wholesale Electricity Spot Market (WESM) must post to cover its traded energy in case there shall be default on payments.
A prudential requirement takes the form of a “security deposit” that a WESM participant must post or submit to the operator of the spot market – and this amount must be called upon in case the trading participant fails in paying its obligations.
