Market Operations Standing Committee January 22, 2003

MOSC Updates December Meeting Minutes –Draft Minutes Posted January 10, 2003 –Comment Period closed January 17, 2003 No Comments Received –Minutes to be Posted as Final –No Outstanding Action Items Baseline 9.0 Documents –Posted January 17, 2003 –Comments to by January 31, 2003

MOSC Update Guideline for Failed Transactions –Revised based on December Consultation Posted for comment on January 20, –Changes include Exemptions for demonstrating a good track record Volatility test will utilize On peak / Off peak pricing Intention test - changed measurement hour to close of unrestricted hour not energy delivery hour –Comments to by COB January 31, 2003

MOSC Update Reliability Must Run Contract –MOSC Consultation Completed –Final Reliability Must Run Contract Template Posted

MOSC Update Regulatory Affairs Standing Committee –Published filings to FERC on SMD by IMO, CEA and ISO’s / RTO’s Under heading of FERC Filings Next Meeting February 5, 2003 –Agenda to be Posted January 21, 2003

MOSC Update IT Standing Committee –Next meeting March 3, 2003 Release Review Continuation of discussions on MPI access granularity Commercial Reconciliation / Revenue Meter Sub Committees –MTR Working Group Reviewing MTR process –Targeting to have review complete with any recommendations by the end of February

MOSC Update Forecasts and Assessments –18 Month Assessment - published December 23, F&A Sub Committee –Met January 15, 2003 Review Q Month Outlook Approval to issue interim updates to 18-Month Outlooks Prototype of 18-Month Outlook Update spreadsheet Discussion of pending reports for Year Outlook 4 quarterly 18-Month Outlooks NPCC Triennial Review of Resource Adequacy NPCC Summer Seasonal Assessments (CP-8, Operation Working Group)

MOSC Update Market Advisory Council –February 18, Toronto Congress Centre Agenda to be posted January 21, 2003