BE-68: How does netting of credit exposures across each utility’s supplier contracts get memorialized? Does the IPA leverage a cross master netting agreement across the utilities?

First, the IPA is not a party to the contracts. Each applicable supplier contract is administered by the applicable utility. The netting of credit exposure is memorialized in the calculation of the exposure amounts as well as a single share unsecured credit line provided by the utility to each credit support provider. Each utility also allows for a single guaranty to be provided by seller to cover the exposure across all applicable supply contracts with that utility.