1.

Open meeting

M. Davies / A. Spangler

8:30am

2.

Anti-Trust Admonition

M. Davies / A. Spangler

8:40am

3.

Vendor presentations

VMAC

8:45am

Nodal Exchange

9:30am

NASDAQ OMX Commodities Clearing

10:15am

Questions

11:00am

4.

Break

11:15am

5.

Review draft NPRR to allow for credit processing on non-business days (vote)

V. Spells

11:30am

6.

Lunch

12:00pm

7.

Review preliminary Oliver Wyman report (if available)

Oliver Wyman or        C. Yager

12:15pm

8.

Discuss open items regarding Nodal Credit

M. Davies / A. Spangler

DAM

12:45pm

  - 95 percentile of RT DA and PTP Obligation (possible vote)

  - Energy Bid curve - possible interim solutions (possible vote)

  - Other

CRR

2:00pm

  - M and A factor (possible vote)

CMM

2:30pm

9.

ERCOT presentation - managing credit in the change to Nodal

C. Yager

3:00pm

10.

Recommendation to F&A on Nodal Credit Readiness (vote)

A. Spangler

4:00pm

11.

Other business

A. Spangler

4:30pm

12.

Adjourn

4:45pm