A report titled "NY Cash Infusion," appearing in the "News Digest, Transmission & ISOs" pages of the Nov. 1, 2000 edition of , could leave readers with the erroneous impression that the NYISO [New York Independent System Operator] required emergency action to pay its bills. This would be grossly inaccurate.
The New York Public Service Commission filing that was cited alluded to the approval of a credit facility that had been in progress for a number of months. The NYISO has paid its obligations, on time, since its inception, and there was no danger that its record financial performance would have been interrupted. Like any business managing more than $4 billion in transactions this year, the NYISO sought to put in place a line of credit that would permit it to meet its obligations in the event that receivables lagged behind payables. This has not occurred, nor is it anticipated.