1

Open Meeting

A Spangler/T Coffing

9:00 a.m.

2

Antitrust Admonition

V Spells

9:00-9:05 a.m.

3

Approval of minutes from Jan 26, Feb 23, March 10 meetings (vote)

A Spangler

9:05-9:10 a.m.

4

Review NPRRs (vote)

V Spells

9:10-9:20 a.m.

5

DAM Collateral Parameters Process document (potential vote)

C Yager

9:20-9:50 a.m.

6

Feedback from F & A Meeting and NPRR 323 Progress Report

C Yager/T Nikazm

9:50-10:00 a.m.

7

ERCOT Abacus update

• Short PMTs & Uplift estimate
• PUL update

C Yager

10:00-10:15 a.m.

8

ERCOT Legal update

• Letter of Credit & Guarantee forms
• Discussion of CFTC Exemption issues, including Central Counter-Party

C Seely/M Morais

10:15-11:15 a.m.

9

ERCOT Invoice cycle update & RTL update

• 9 day cycle
  • NPRR tabled
  • SEWG request MCWG feedback
• 10 day cycle NPRR update (APR PRS)
  • SEWG request urgent status
• Evaluate load imbalance estimates

C Yager/M Bauld/L Martin

11:15-12:00 p.m.

Working lunch

12:00-12:15 p.m.

10

NASDAQ OMX presentation

T Nikazm

12:15-1:15 p.m.

11

WMS request Review of Balance of Term CRR Auction

• Evaluate A, M, X, Y
• Collateral requirements
• Default risk
• Path & Product considerations
  • OPTs & OBLs
  • Res-Res, Res-Hub, Res-Zone, Hub-Zone, Hub-Hub

T Coffing

1:15-2:15 p.m.

12

Forward risk

• Cure period/PMT Breach period reduction
• DALE: Recognize offsetting CRRs
• Mass Transition timeline
• Minimum collateral requirements
• ADTE decreases

T Coffing/C Yager

2:15-3:45 p.m.

13

New Business

A Spangler/T Coffing

3:45-4:00 p.m.

Adjourn Meeting

A Spangler/T Coffing

4:00 p.m.