- Board of Directors membership from 6 market groups: IOU,
municipal, cooperative, transmission dependent, IPP, power marketers
- 3 representatives per group
- 2/3 majority of votes to pass (13 of 18)
- 2 Board Committees: Executive Committee, Nominating
Committee
- PUC and Office of Public Utility Commission will each have
one ex-officio nonvoting member on the Board
- Board will hire ISO Director and an Executive Director,
appoint a Director of Technical Advisory Committee, approve reliability and operating
guidelines, approve budgets, etc.
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- Board of Directors will consist of the President and CEO and
6 Directors serving three-year terms
- Of the 7 Directors on the Board of PJM Services Company,
only 2 may be affiliated with members of the existing PJM pool and may serve on the Board
for only the first five years
- Other directors may not be affiliated with any entity
engaged in the generation, transmission, distribution, purchase or sale of electric energy
in the Mid-Atlantic region
- 3 Board Committees: Nominating Committee, Compensation
Committee, Audit Committee
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- Board of Directors comprised of 5 classes of market groups
and non-stakeholder: IOU transmission owners (4), government/municipal (4), sellers (3),
end-users (4), non-stakeholders (3)
- No one class may block Board action
- No two classes may force Board action
- An entity can be in only one class
- Board members will serve 3 years initially, then will rotate
every 5 years
- 12 votes required to pass most measures
- 7 votes required to veto most measures
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