1 Cutover Market Call December 01, :30 AM

2 Antitrust Admonition ANTITRUST ADMONITION ERCOT strictly prohibits Market Participants and their employees who are participating in ERCOT activities from using their participation in ERCOT activities as a forum for engaging in practices or communications that violate the antitrust laws. The ERCOT Board has approved guidelines for members of ERCOT Committees, Subcommittees and Working Groups to be reviewed and followed by each Market Participant attending ERCOT meetings. If you have not received a copy of these Guidelines, copies are available at the Client Relations desk. Please remember your ongoing obligation to comply with all applicable laws, including the antitrust laws. DISCLAIMER All presentations and materials submitted by Market Participants or any other Entity to ERCOT staff for this meeting are received and posted with the acknowledgement that the information will be considered public in accordance with the ERCOT Websites Content Management Operating Procedure.

3 General Updates / Reminders

4 General Updates and Reminders CONGRATULATIONS ON THE NODAL MARKET TRANSITION!! Zonal Submissions –Market Participant Zonal Market Submissions are no longer required at this time –This includes Zonal Resource Plan updates for the remainder of today Dual entry on Outages –Zonal Telemetry ERCOT is asking MPs to keep Zonal Telemetry in place ERCOT is targeting the end of this week for MPs to stop sending telemetry ERCOT will not be actively calling MPs to correct Zonal Telemetry REMINDER: Issue management process –Technical Issues (e.g. IT system issues) \ –Business Questions (e.g. business rules / errors, protocol questions, etc) –These will remain in place until the end of the year –Changes to this process for 2011 will be shared towards the end of the month

5 General Updates and Reminders Ancillary Service Capacity Monitor Issue –The monitor is not capturing all of the available non-spin –This is being reflected in the associated dashboard (MIS) –Root cause under investigation –This is not impacting ERCOT’s ability to deploy the Non-Spin being provided REMINDER: Pricing Dashboards on –REAL TIME: Real-Time LMPs for Latest SCED Run Display Real-Time LMPs for Load Zones and Trading Hubs Display Real-Time Settlement Point Prices Display –DAY AHEAD MARKET: DAM Clearing Prices for Capacity Display DAM Settlement Point Prices Display

6 Day Ahead Market

DAM Operating Day December 1 7

DAM Operating Day December This is the net additional usage of transmission capacity by CRR/PTPs.

DAM Operating Day December 1 9

DAM Operating Day December 1, HE

DAM Operating Day December 1 Binding constraints 11

12 Real Time / LFC

Real Time Market Update 13

Real Time Market Update 14

Real Time Market Update /30 SPPs

16 Questions