The Board also gave the go-ahead for the ISO to begin forming a nine member Transitional Committee as an advisory body to the Board, in advance of integrating its first EIM partner, PacifiCorp, in fall of 2014. The creation of the Transitional Committee will provide the Board with expert advice and recommendations to guide the design of a governance structure that supports a successful EIM.

"Our EIM will lower wholesale costs through the use of the ISO’s advanced technology that every five minutes automatically finds the most efficient resources to serve customers," said ISO Board Chair Bob Foster. "It will also bring valuable regional benefits including improved reliability and enhanced renewable integration."

Last month, the Board approved detailed market rules for expanding the ISO real-time market. Today’s decision will lead to a governance body that will give EIM participants and other regional interests a voice in EIM decision-making. The Transitional Committee meetings and deliberations will be subject to the ISO open meeting policy. Implementation of any recommendations by the committee will require Board approval and FERC approval if tariff changes are involved. The Transitional Committee charter also provides for two additional seats in the event that other entities besides PacifiCorp enter into EIM agreements.

Seven sectors will provide a ranked list of nominees, along with resumes and letters of intent to the Board for consideration. All potential nominees should possess a proven reputation for excellence in their areas of expertise and optimally should reflect a diverse geographic background. A minimum slate of nine candidates will be considered at the ISO Board meeting in May of 2014. Once seated, the Transitional Committee will begin work immediately, with its first meeting tentatively scheduled for June 2014.