1.

Call to Order

M. Greene

10:00 a.m.

2.

Approval of Minutes* (Vote)

M. Greene

10:05 a.m.

3.

Ratification of Carolyn Shellman as Vice President, General Counsel and Corporate Secretary* (Vote)

M. Greene

10:10 a.m.

4.

CEO Report*

T. Schrader

10:15 a.m.

5.

Operations Update

S. Jones

10:25 a.m.

6.

Market Operations Update*

R. Giuliani

10:55 a.m.

7.

TNT Update

B. Bojorquez

11:05 a.m.

8.

Texas Nodal -- Wholesale Market Design Change

• Systems Impacted
• Nodal Mobilization

R. Giuliani / R. Hinsley

11:10 a.m.

9.

Financial Update*

S. Byone

11:40 a.m.

Lunch

11:50 a.m.

10.

TAC Report

• Protocol Revisions* (Vote)
• TAC Alternative Fuel Resolution*

M. Dreyfus

12:50 p.m.

11.

Finance & Audit Committee Report

• Budget Process Update
• Acceptance of Financial Statements (2003 and 2004)* (Vote)

C. Karnei

1:20 p.m.

12.

H.R. & Governance Committee Report

• Bylaws Review Update

B. Kahn

1:50 p.m.

13.

Special Committee Report

• Final Public Report

M. Espinosa

2:05 p.m.

14.

Other Business

M. Greene

2:10 p.m.

15.

Executive Session (Board and Nominating Committee)

• Contract Matters* (Vote)
• Personnel Matters

M. Greene

2:30 p.m.

16.

Adjourn

M. Greene

5:00 p.m.