New Initiatives. The Parties contemplate that the Final ISO Agreement will contain additional provisions to be negotiated by the ISO Board and NEPOOL to address the manner in which new initiatives by the ISO requiring the expenditure of funds not previously agreed to by the ISO and NEPOOL will be authorized and approved. Under this Agreement, except as otherwise provided in this Section 8, any new spending initiatives proposed by the ISO are subject to the approval of NEPOOL, and disagreements between the ISO and NEPOOL with respect to such initiatives must be resolved in accordance with the dispute resolution procedures described in Section 12.1. Prior to the entering into of the Final ISO Agreement, NEPOOL will seek guidance from the FERC as to the appropriateness of continuing NEPOOL's approval right as to this type of expenditure and possible alternative mechanisms, including without limitation the possible role of the FERC as the avenue of first resort by the ISO for authorization of new spending initiatives.
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Sources: New England Power Pool Agreement (North Atlantic Energy Corp /Nh)
New Initiatives. The Parties contemplate that the Final ISO Agreement will contain additional provisions to be negotiated by the ISO Board and NEPOOL to address the manner in which new initiatives by the ISO requiring the expenditure of funds not previously agreed to by the ISO and NEPOOL will be authorized and approved. Under this Agreement, except as otherwise provided in this Section 8, any new spending initiatives proposed by the ISO are subject to the approval of NEPOOL, and disagreements between the ISO and NEPOOL with respect to such initiatives must be resolved in accordance with the dispute resolution procedures described in Section 12.1. Prior to the entering into of the Final ISO Agreement, NEPOOL will seek guidance from the FERC as to the appropriateness of continuing NEPOOL's ’s approval right as to this type of expenditure and possible alternative mechanisms, including without limitation the possible role of the FERC as the avenue of first resort by the ISO for authorization of new spending initiatives.
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