Electrical Energy Pricing Working Group Develop a price message format based upon the FIX protocol FIX Protocol Ltd. North American Energy Standards Board Kickoff Meeting September 8, Copyright (c) FIX Protocol Ltd.

Agenda Anti-trust statement Review and approve agenda Review and approve meeting notes from last week Review Action Items All participants review the initial model on slide 26 in the original All participants should read the Priority Action Plan 03 for common pricing model ANSI model - Bin Qiu OpenHan, ZigBee, TC57 1 -Joe Zhou IRC/ISO Standards perspective - Rich Kalish Update on documents - Jonathon Booe Meet with NARUC to gain their involvement- Jonathon Booe Discuss and present each standard Purpose Actors involved Identify any standards that should be included but were not presented Review status of activities from the PAP High level concept of operation (BAE) Existing Price Communication (this meeting) Any other business Copyright (c) FIX Protocol Ltd.2

PAP03: Price Product Develop Common Specification for Price and Product Definition Price is more than a number. Price is a number associated with product characteristics. Already identified product characteristics include delivery schedule, quality, environmental characteristics, and regulatory characteristics. A common specification for price is a precursor to new market developments, to demand response, to distributed energy resources, to understanding meter information, and to every other hand-off between domains. Objectives: Develop a summary of product characteristics of interest to energy consumers. Develop summary of power reliability and quality characteristics that affect price and availability (supply side) and desirability (demand side). Develop and implement a plan to expedite harmonized standards development and adoption within the associated standards bodies Copyright (c) FIX Protocol Ltd.3

Full Description of Assignment Copyright (c) FIX Protocol Ltd.4

Think Message Format not Price Model We are not here to define how energy pricing is derived This is not how to calculate a price based upon a pricing model The purpose of a Message to convey Price is to provide sufficient information to the recipient so that they can understand WHAT is being priced not HOW it is being priced So the Price Message Format is about identifying those characteristics, values, and identifiers that make the product, in this case a quantity of electricity at a specified interval The Price Message Format will contain some of the same values needed to calculate a price – but only those that identify what is being priced The question to be asked when deciding what to include in the format- does the recipient need a particular value (or attribute) to understand what they are buying? Copyright (c) FIX Protocol Ltd.5

Related standards sggrid/bin/view/_SmartGridInterimRoadmap/PAP03PriceProduct FIX, JPM, FISD, NARUC/NAESB, ISO/RTO CTO, EEI, AHAM, ZigBee, OpenHAN, OASIS, ANSI NAESB – post documents and exploder list Bin Qui – ANSI Standards – facilitator – topic of agendas OpenHAN – Joe Zhou ZigBee – Joe Zhou TC57 – common information model NARUC – how are we going to engage them OpenADR – he wants to see PAP03 succeed in an orderly fashion Anything from the ISO/RTC perspective that needs to be included TC57 – ISO/RTC standard - Project being started at the ISO level Demand Response / Storage Copyright (c) FIX Protocol Ltd.6