ERCOT Board Update- TNT Post Filing Activities

Jim GalvinERCOT, Director of Market OperationsJune 21, 2005

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Agenda

Punch-list update Other Punch-list items PUCT Workshop Questions

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Outstanding “Punch-list”

Settlement Formulas Credit Issues (Section 16) – Credit Work

Group Real-Time Co-Optimization Protocol Revisions Synchronization – as of

April 2004 Role of Independent Market Monitor

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“Punch-list” Update

Settlement Formulas First round completion expected on June 20 Second round review expected to go into mid

July Process has been slow, but very detailed in

initial comments, indicating round 2 to take less time

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“Punch-list” Update

Credit Sub-Committee Credit sub-committee and TNT filed comments

on Section 16 and completed first round review in May

Expected completion date of June 14 for second round comments and completion of Section 16

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Other “Punch-list” Items

Real-Time Co-optimization- Whitepaper re-circulated and looking for market participant to sponsor details behind the concept

Protocol Synchronization- PRS to provide framework for incorporating changes to Protocols after baseline

Role of Independent Market Monitor- Discussions from Market Monitors took place at PUCT Workshop, rulemaking still in progress

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PUCT Workshop

PUCT held Market Design Workshop June 8-10 ERCOT staff presented list of 10 items that would

better allow ERCOT to manage reliability TNT presented on the filed TNT Market Design Presentation made by other parties on improved

Zonal Model Final day provided Market Monitoring facts from

other markets

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PUCT Workshop

Topics of interest: Comments on Workshop due June 17 Transition plan and possible timeline Maintaining Bi-lateral Market Activity Assignment of Congestion Mitigation of Load Pockets Maturity of current market Risk of change