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ERCOT PROGRESS REPORT Board of Directors Austin, Texas March 18, 2003.

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Presentation on theme: "ERCOT PROGRESS REPORT Board of Directors Austin, Texas March 18, 2003."— Presentation transcript:

1 ERCOT PROGRESS REPORT Board of Directors Austin, Texas March 18, 2003

2 ERCOT Updates Grid Operations (Sam Jones) CEO Overview Program Management (Steve Wallace) IT Systems (Ken Shoquist) Market Operations (Ray Giuliani) Financial (Maxine Buckles)

3 TCE Bankruptcy Credit requirements precipitated the filing TRO provided a useful framework for discussions between ERCOT and TCE Order provides reasonable, but stringent operating and financial conditions A plan for repayment of pre-filing obligations is under development

4 Recent Activities Internal review of “lessons learned” with respect to credit requirements and future use of relaxed balanced schedules IT support for PUC oversight requirements ERCOT administrative fee approval Process for selecting independent board members

5 Conclusions Legal/Financial group responded quickly and professionally to TCE bankruptcy filing Market Operations worked quickly (with PUC) to protect customers and to minimize market impact Legislature and other public officials were kept informed on daily basis

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