* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [00:00:02] ALL RIGHT. GOOD MORNING. THIS IS SUSIE CLIFTON WITH ERCOT. WE'RE ABOUT TO GO AHEAD AND GET STARTED HERE. UH, WITH THE TAC MEETING, IF WE COULD GO AHEAD AND GET EVERYBODY IN THE ROOM TO TAKE THEIR SEATS, PLEASE. THANK YOU ALL. I'M GONNA GO AHEAD AND START WITH THE MEETING REMINDERS. UM, IF YOU'RE ON THE WEBEX, UM, PLEASE ENTER YOURSELF INTO THE CHAT, UH, TO QUEUE FOR MOTIONS OR DISCUSSION. AND IF YOU'RE HERE IN THE MEETING ROOM, IF YOU'LL JUST HOLD UP YOUR CARD. UM, JORDAN IS HERE IN THE FAR RIGHT OF THE ROOM. HE WILL CAPTURE, UH, YOU AND GET YOU INTO THE CHAT, OR YOU CAN ENTER YOURSELF IN THE CHAT IF YOU'RE LOGGED INTO THE WEBEX. UM, AS WE APPROACH THE BALLOTING PROCESS, PLEASE MAKE SURE IF YOU'RE ON THE WEBEX, TO UNMUTE YOURSELF AS WE GET TO YOUR SEGMENT. AND THEN AFTER YOU HAVE CAST YOUR VOTE, PLEASE RETURN TO MUTE. THAT'LL HELP US BE A LITTLE MORE EFFICIENT WITH THE BALLOTING PROCESS. IF YOU'RE HERE IN PERSON TODAY, PLEASE MAKE SURE TO SIGN IN AT THE SIGN IN SHEET OUTSIDE THIS MEETING ROOM SO THAT WE CAN CAPTURE YOU CORRECTLY IN THE MINUTES. AND THEN IF THE WEBEX ENDS FOR ANY REASON, GIVE US JUST A FEW MOMENTS AND WE WILL RESTART WITH THE SAME MEETING DETAILS, OR WE WILL FORWARD SOMETHING OUT TO THE TAC LIST SERVE. AND IF WITH THAT, CAITLIN, WE ARE READY TO GO AND WE DO HAVE A QUORUM THIS MORNING. THANK YOU, SUSIE. GOOD MORNING. IT'S AUGUST 28TH. UM, IT'S OUR JULY TECH OR AUGUST TECH MEETING, AND WE HAD A AFTERNOON MEETING IN JULY, SO I THINK THE MORNING WILL BE A LITTLE BIT BETTER. AND WE HAVE AN AN SERVICES WORKSHOP FOLLOWING THIS MEETING. EVERYBODY SHOULD HAVE GOTTEN A LINK TO ORDER LUNCH. I THINK WE HAD ALL THE TECH MEMBERS ON THE EMAIL THIS TIME. AND THANK YOU TO CALLIE FOR COORDINATING THAT PROXIES AND ALT REPS TODAY FOR ALT REPS. UH, IN THE COOPERATIVE SEGMENT, MIKE WEISS AT GOLDEN SPREAD HAS ALT REP JOE DAN WILSON FOR PROXIES IN THE INDEPENDENT RETAILER SEGMENT. CHRIS HENDRICKS HAS GIVEN PROXY TO JENNIFER SCHMIDT. UM, THE ANTITRUST [1. Antitrust Admonition ] IS ON THE SCREEN TO AVOID RAISING CONCERNS ABOUT ANTITRUST LIABILITY. PARTICIPANTS IN ERCOT ACTIVITIES SHOULD REFRAIN FROM PROPOSING ANY ACTION OR MEASURE THAT WOULD EXCEED ERCOT AUTHORITY UNDER FEDERAL OR STATE LAW. AND THERE IS MORE INFORMATION ON THE WEBSITE. RICHARD, I DON'T BELIEVE WE'VE HAD A ERCOT AUGUST MEETING. NO, WE HAVE NOT. THE, THE PHRASE OF THE MONTH IS, IS WING IT. OKAY. UM, SOMEONE I UNDERSTAND EARLIER SAID, WE DON'T HAVE ANY FUN IN THESE MEETINGS ANYMORE. I WILL SHARE WITH YOU, AND YOU CAN CONSIDER IT FOR THE NEXT MEETING, THAT ONE OF THE THINGS SOME OF US DO IS, IS FORCE THE GROUP IN UNISON, UH, TO JOIN IN AND READ, UH, THE ATTESTATION THAT YOU JUST READ TO US, UM, AND IT AT THEIR OWN PACE. UH, AND IT, IT IS A QUITE A OKAY, IT DOES GIVE US A SMILE OPPORTUNITY SHOULD YOU FEEL THE NEED TO AMP UP THE CULTURE OF THE MEETING. I'M OPEN TO THAT. AND I KNOW LAST MONTH WE HAD THE AI READING, SO I'M OPEN TO DIFFERENT VERSIONS OF THAT TOO. BUT YES, I WAS, I WAS JUST TOLD THAT AT TAC, UNLIKE SPP, WE DON'T HAVE ANY QUOTE UNQUOTE COOKIES OR LAUGHTER. SO WE WILL, WE WILL WORK ON THAT. ALRIGHT, WELL, WE LAUGHED THAT SOMEBODY ELSE SAID, WE DO HAVE SNICKERING, SO WE WILL. ALRIGHT, WITH THAT, UM, LET'S GET [2. Approval of TAC Meeting Minutes] STARTED. UH, APPROVAL OF THE TECH MEETING MINUTES. UM, SO THE JULY 31ST MEETING MINUTES, WE ARE LOOKING TO APPROVE THOSE AS PRESENTED. I'M NOT AWARE OF ANY QUESTIONS OR COMMENTS. I'M SEEING, UH, HEAD SHAKES FROM ERCOT. SO IF THERE'S NO CONCERNS HERE, I THINK WE SHOULD PLACE THE JULY MEETING MINUTES ON THE COMBO BALLOT. ALRIGHT. UM, [3. Meeting Updates] MEETING UPDATES. WE ACTUALLY HAVE QUITE A BIT HERE. SO SINCE OUR JULY TECH MEETING, THERE WAS THE AUGUST BOARD MEETING WHERE OUR JUNE AND THE, THE REVISION REQUESTS FROM JUNE AND JULY TECH WERE UP FOR CONSIDERATION AT THE ERCOT BOARD. AND THE BOARD APPROVED, OURS RECOMMENDED REVISION REQUESTS RECOMMENDED BY TECH, WITH THE EXCEPTION OF THE FOLLOWING. THEY DID REMAND NPR 1215, UH, TO CORRECT A FORMULA. ERCOT CAME TO JULY TECH TO DISCUSS THIS. WE, I THINK THERE'S SOME STUFF FOR US TO GO THROUGH ON THIS. WE'LL COME BACK TO IT. UH, THE BOARD DID TABLE NPR 1190 THAT WILL REMAIN TABLED AT THE BOARD, BUT KEITH, I THINK HAS SOME COMMENTS, UH, REGARDING THE, THE COMMENTS THAT ERCOT FILED TO NPR 1190 AFTER TACK AND SOME SORT OF GENERAL PROCESS. [00:05:01] COMMENTS ON THAT? GO AHEAD, KEITH. THANK YOU. UH, YEAH, I THINK ONE OF THE THINGS THAT I'VE COME TO UNDERSTAND IS THAT, UM, 1190, IT WAS ALSO, UM, 1230 ERCOT DID PROVIDE SOME COMMENTS, UH, TO THE BOARD THAT THAT WAS SORT OF IN BETWEEN THE TAC AND THE BOARD MEETING. THE PURPOSE OF THOSE COMMENTS WAS TO BETTER INFORM THE BOARD AS TO WHY THERE WERE DIFFERENT, UH, VOTES, UH, TAKEN AT THE TAC. UH, THOSE PARTICULAR ONES HAD, UH, WERE, WERE NOT UNANIMOUS AND HAD SOME FOLKS VOTING YES, SOME FOLKS VOTING NO. AND, AND THE BOARD IN AN EFFORT TO, TO HELP EDUCATE THE BOARD AS TO WHY THOSE, UH, THOSE VOTES WERE TAKEN, AND TO BETTER UNDERSTAND THE REASONS AND THE, THE NATURE OF THE, OF THE REVISION. UH, THAT'S WHY THOSE DOCUMENTS WERE PUT FORWARD. AND SO GOING, GOING FORWARD, I WOULD ANTICIPATE THAT, UH, WE WOULD SEE MORE, UH, OF THOSE TYPES OF EXPLANATORY DOCUMENTS, UH, GO TO THE BOARD. UH, BUT I THINK I WANT TO BE CLEAR THAT, UH, THE GOAL IS NOT TO INTRODUCE NEW INFORMATION AFTER THET. THE GOAL IS TO HELP BETTER EDUCATE BOARD MEMBERS IN UNDERSTANDING, UH, VOTES AND REASONS FOR ACTIONS TAKEN AT THE TAC. AND SO IT, IT, IT IS LIKELY THAT WE'LL SEE THAT THERE, THE GOAL IS NOT TO HAVE NEW ANALYSIS, THAT IF THERE IS AN ANALYSIS, THAT WE WOULD SEE IT EARLIER IN THE PROCESS RATHER THAN LATER IN THE PROCESS AND BY LATER MEANING AT THE BOARD. SO, UH, WE WOULD SEE THINGS AT THE WORKING GROUPS, THE SUBCOMMITTEES COME TO T. AND, AND SO IN THOSE, THOSE, UH, BOARD DOCUMENTS, IT, IT SHOULDN'T BE A SURPRISE TO ANYBODY IN THIS ROOM. UM, THE INFORMATION THAT'LL BE PROVIDED BY, BY ERCOT TO THE BOARD, MY UNDERSTANDING IS THERE'LL ALSO BE OPPORTUNITY FOR PARTICIPANTS TO ALSO, UH, GOING FORWARD, THERE'LL LIKELY BE OPPORTUNITIES FOR PARTICIPANTS THAT, UM, FOR INSTANCE, IF YOU VOTED NO ON A PARTICULAR ITEM TO, TO MAKE, MAKE, UH, THAT ARGUMENT TO THE BOARD AS WELL, RATHER THAN JUST RELY ON ERCOT TO, TO INDICATE, HEY, THESE GROUP OF PARTICIPANTS VOTED NO. THESE WERE, WERE, WERE, YES, THERE'LL BE AN OPPORTUNITY FOR FOLKS TO ACTUALLY PRESENT, UH, THOSE POSITIONS AT THE BOARD AS WELL. SO I'M HAPPY TO TAKE ANY QUICK QUESTIONS IF ANYBODY HAS THEM ON THAT, THAT SORT OF PROCESS CHANGE. THANKS. GO AHEAD, BOB. YEAH. UH, JUST QUICK QUESTION, IS THAT AN ERCOT RESPONSIBILITY? TRADITIONALLY TAC HAS PRETTY MUCH TAKEN CARE OF THIS THEMSELVES. SO TAC CAN REC, YOU KNOW, CAN REPRESENT THEMSELVES IN THE PROPER MANNER. AND I'M NOT SURE THAT I REALLY FULLY AGREE WITH ERCOT TAKING THAT ROLE OF DOING THAT. AND, UH, I'D LIKE TO KNOW YOUR PROCESS FOR THAT. I MEAN, ARE YOU, LIKE, KAITLYN WILL CONTACT US ALL THAT VOTED? NO. GET OUR INFORMATION. SHE WILL DO THAT. AND IF YOU GUYS ARE GONNA TAKE THIS RESPONSIBILITY OVER FROM T LEADERSHIP, I'D LIKE TO KNOW HOW YOU'RE GONNA DO IT AND WHAT YOU'RE GONNA DO. WELL, THANK YOU. THANK YOU FOR THE FEEDBACK. I, I, I DON'T KNOW THAT WE'RE TRYING TO TAKE OVER THE PROCESS FROM TAG. I THINK WE WERE, IT'S, IT'S MORE OF A REQUEST FROM THE BOARD, UH, AS WE SEE IT, THAT THEY WANTED INFORMATION AND, UM, ASKED OR TO PRESENT THAT TO THEM, UH, IN ADDITION TO THE TAC DISCUSSION. UH, BUT, BUT I THINK THE IDEA, UH, IS NOT TO REPLACE OR TO MOVE THE TAC DISCUSSION ASIDE, BUT TO SORT OF AUGMENT IT AND SUPPLEMENT IT AT THE BOARD. UM, AND SO THE PROCESS STILL NEEDS TO BE WORKED OUT. I THINK THE FIRST, THE FIRST EXAMPLE OF IT WAS AT THE LAST BOARD MEETING, AND I THINK WE'LL, WE'LL WORK FORWARD TO, TO COME TO A NEW, SORT OF A NEW NORM IN THE COMING MEETINGS. THANKS. ALRIGHT, THANKS KEITH. AND JUST TO CLARIFY, IT WOULD BE IN THE CASE WHERE THERE WERE NO VOTES ATTACK, BUT THE ERCOT EXPLANATION, I, I'M SEEING IT MORE AS SORT OF A REBUTTAL AND NOT THE EXPLANATION OF THE NO VOTES. NO, I, I DON'T THINK THE ERCOT, UM, POSITION IS, IS REALLY A REBUTTAL. I, I, I SEE IT MORE AS A, YOU KNOW, ON ONE SIDE, ON THE OTHER SIDE. AND IF ERCOT HAD A PARTICULAR POSITION ON SOMETHING, IT WOULD EXPLAIN THAT AS WELL, RIGHT? SO IT'S, IT'S SORT OF THE ER, ERCOT PERSPECTIVE OF, OF WHAT WE, OF WHAT WE SAW IN THE, IN THE PROCESS. OKAY. THANKS. THANKS, IAN. THANK YOU. UM, BOB, I THINK YOU SAID IT VERY WELL. I HAVE A LOT OF CONCERNS WITH ERCOT, UH, SPEAKING FOR THE STAKEHOLDERS, ESPECIALLY WITH SO MANY OF THE KEY ISSUES IN THESE PAST YEAR BEING, UM, ERCOT AND STAKEHOLDERS ON DIFFERENT SIDES OF AN ISSUE. UM, I WOULD, I WANNA MAKE SURE THAT THE BOARD HAS, [00:10:01] UM, AS MUCH OR MORE INFORMATION AT THEIR DISPOSAL, UM, TO MAKE THE DECISIONS THEY WANT. BUT, UM, I DO HAVE A LOT OF CONCERNS WITH ERCOT REPRESENTING STAKEHOLDERS, UM, HONESTLY, IN ANY FASHION AT THE BOARD AT THIS POINT. THANK YOU. OKAY. ONE, ONE MORE CLARIFYING QUESTION. I THINK, KEITH, YOU MENTIONED THAT STAKEHOLDERS AS WELL WOULD HAVE A OPPORTUNITY IN FRONT OF THE BOARD NOW. YES, THAT'S CORRECT. THE, THE GOAL WOULD ALSO TO ALLOW THE PARTICIPANT THAT HAD A CONCERN TO REPRESENT THEMSELVES DIRECTLY TO THE BOARD MEMBERS, UH, RATHER THAN JUST RELYING SOLELY ON ERCOT, UM, TO, TO MAKE THAT, THAT POSITION. THANKS, BILL BARNES, I THINK WE HAVE A PROCESS WORKSHOP NEXT WEEK. THIS MIGHT BE SOMETHING TO ADD TO THE AGENDA. I THINK KEITH, THE, WITH 1190, THAT WAS A STAKEHOLDER SPONSORED NPR, THE DISAGREEMENT WAS PRIMARILY AMONGST STAKEHOLDERS. I THINK THE CONCERN WE WOULD HAVE IS WHAT WOULD YOU DO IF THERE WAS AN ERCOT SPONSORED NPRR, UM, AND ONE WHERE ERCOT HAD A STRONG VIEW THAT MAY NOT BE ALIGNED WITH SOME OF THE VOTES OF TAC MEMBERS, AND THAT WOULD POTENTIALLY GIVE ERCOT YET ANOTHER OPPORTUNITY TO INFLUENCE THE BOARD'S DECISION THAT THAT WOULD BE A CONCERN. SO I THINK WE SHOULD PROBABLY SPEND A LITTLE BIT OF TIME ON HOW THIS PROCESS WORKS ON THE STAKEHOLDER ABILITY TO PROVIDE INPUT TO THE BOARD. HOW DOES THAT WORK? IS WE HAVE TO DO A PUBLIC COMMENT THING, OR DO WE FILE SOMETHING? I, I WAS NOT AWARE THAT WAS AN OPTION. AND, AND I THINK AT THIS POINT, THE PROCESS IS STILL BEING FLESHED OUT AS HOW THAT WOULD WORK. IT COULD BE PUBLIC COMMENT, IT COULD BE A DOCUMENT, UM, YOU KNOW, NOT TO, NOT TO POKE RICHARD, BUT, UM, YOU KNOW, THERE, THERE IS AN EXAMPLE IN THE SVP PROCESS WHERE PEOPLE DO THIS TYPE OF THING. SO IT IS NOT UNUSUAL IN OTHER MARKETS TO, TO HAVE A PROCESS FOR THAT. AND WE'RE EVALUATING WHAT, WHAT THAT, HOW EXACTLY THAT WOULD LOOK LIKE IN OUR, OUR PROCESS. NORMALLY WE DON'T LOOK TO RICHARD ON HOW TO DO THINGS , BUT HE DIDN'T SAY THAT. FOUR. OKAY. AND I THINK NED IS NEXT. THAT WAS LAUGHTER. UH, BILL, BILL LARGELY COVERED WHAT I WAS GONNA ASK, WHICH IS, YOU KNOW, WE'VE GOT THE WORKSHOP COMING UP, SO RATHER THAN JUST WING IT, RICHARD, UM, IT MIGHT BE HELPFUL TO HAVE SOMETHING WRITTEN, UM, OR A PRESENTATION AT THAT WORKSHOP THAT WE CAN, WE CAN REACT TO AND SEE IT, YOU KNOW, SEE WHAT, SEE WHAT ERCOT HAS CONCEPTUALIZED, UM, YOU KNOW, DRAWN OUT BOTH FOR, YOU KNOW, ERCOT, UH, THE PROCESS THAT YOU'RE, YOU'RE PROPOSING AND FOR HOW STAKEHOLDERS, UH, WOULD, WOULD FIT INTO THAT PROCESS. IT SEEMS VERY APPROPRIATE. THANKS, NED. UH, MARK, UH, THANK YOU CHAIR. I HAVE A SLIGHTLY DIFFERENT ISSUE, AND, AND THAT IS THAT AS WE WORK THROUGH THIS PROCESS IN THIS NPR 11 NINETY'S BEEN IN THE PROCESS SINCE LAST JULY, WE CREATE A, A RECORD, A FULL AND COMPREHENSIVE RECORD OF ALL THE, UH, MEETINGS, DISCUSSIONS, ISSUES, UH, FILINGS THAT, THAT GO INTO OUR APPROVAL OF, OF, UH, REVISION REQUEST. AND SO I, I THINK THAT'S WHERE THE INFORMATION IS THAT THE BOARD SHOULD BE RELYING ON IN GRAPPLING WITH THESE ISSUES. AND SO I HOPE THAT AS THE BOARD, UH, CONSIDERS REVISION REQUESTS, THEY RECOGNIZE AND UNDERSTAND THAT THERE IS A FULL AND COMPREHENSIVE RECORD THAT THEY CAN REFER TO. AND BY REVIEW OF THAT RECORD, THEY SHOULD BE ABLE TO UNDERSTAND ALL THE ISSUES THAT WE GRAPPLED WITH AS WE MADE THESE IMPORTANT DECISIONS. THANKS. THANKS, MARK. OKAY. I DON'T SEE ANYONE ELSE IN THE QUEUE. AND WE DO HAVE, AT THE END OF OUR AGENDA, WE HAVE THE WORKSHOP FOR NEXT WEEK. SO WE CAN KIND OF REVISIT THE AGENDA ITEMS THAT EVERYBODY WANTS TO MAKE SURE WE, WE HEAR AT THAT AT THE END OF THE MEETING. OKAY. WE ARE STILL ON THE MEETING UPDATES. UM, NOER 2 45 THAT WENT TO THE BOARD IN JUNE FROM OUR MAY AND JUNE TECH MEETINGS. WE HAD SOME SPECIAL TECH MEETINGS THEN, UM, THE, THEN IT WAS TABLED AT THE BOARD AWAITING COMMENTS FROM ERCOT AND JOINT COMMENTERS. THEY DID RECEIVE THOSE, AND THEY APPROVED NOER 2 45. THEY DID ALSO VOTE TO DESIGNATE A SUBSEQUENT NOER AS A BOARD PRIORITY REVISION REQUEST. AND THIS WOULD ADDRESS THE REMAINING, UH, DETAILS [00:15:01] OF THE EXEMPTION PROCESS AND THE HARDWARE REQUIREMENTS. AND, UM, THEY WOULD LIKE TO HAVE THAT NOER AT OR COTS BOARD MEETING IN FEBRUARY. AND THE INSTRUCTION TO TECH LEADERSHIP WAS TO PROVIDE DETAILED REPORTS ON THE SUBSEQUENT NOER AS WE REVIEW IT HERE. THERE WAS A KIND OF FOLLOWING DISCUSSION FROM CHAIRMAN GLEASON ABOUT WHETHER SOME TOPICS SPECIFICALLY THAT, THAT SUBSEQUENT NOER SHOULD BE RULEMAKING. MY UNDERSTANDING IS THAT'S STILL A OPEN QUESTION, UH, TO BE CONSIDERED AT THE PUC, BUT THE EITHER WAY, UH, ERCOT WOULD BE WAITING TO FILE THE SUBSEQUENT NOER UNTIL AFTER COMMISSION APPROVAL OF NOER 2 45. AND SO I THINK ERCOT AND STAKEHOLDERS ARE, ARE JUST GONNA FOLLOW THE LEAD OF THAT COMMISSION DISCUSSION WHEN PUC TAKES UP 2 45. BUT I'M HAPPY TO HEAR OTHER POINTS OF VIEW OR COMMENTS ON THIS, AND I SEE NONE. ALL RIGHT. I THINK WE CAN SWING BACK AROUND. WELL, I, UH, ONE, ONE QUESTION. WHEN, WHEN WILL THE PUC TAKE THIS UP? WHAT'S THE SCHEDULE? UH, I BELIEVE IT'S SEPTEMBER 26TH. THANK YOU. OKAY. SO WE ARE GONNA GO BACK AROUND TO NPR 11 OR 1215. OKAY, GO AHEAD NED. WE ARE NOT GOING BACK TO 1215 YET. WE'RE ON 2 45. THAT THAT'S RIGHT. YEAH. I, I JUST WANTED TO ASK AGAIN, UM, WHEN WE MIGHT EXPECT TO SEE THAT FOLLOW ON NOER SO THAT THAT WAY, YOU KNOW, IF WE'VE GOT AN APRIL DEADLINE, I'M, I'M REALLY CONCERNED ABOUT THAT GETTING COMPRESSED. YEAH, SO MY UNDERSTANDING IS, YOU KNOW, THE PUC IS CONSIDERING WHETHER IT SHOULD BE A RULE MAKING, BUT THE EITHER WAY, UM, OF THAT DECISION THAT ERCOT WOULD WAIT TO FILE THE SUBSEQUENT NOER UNTIL THE PUC HAS APPROVED 2 45. I, I KNOW THAT'S A COMPRESSED TIMELINE, BUT THAT'S KIND OF, YOU KNOW, CART BEFORE THE HORSE IF WE START ON THE NEXT, NO G BEFORE 2 45 HAS, HAS BEEN THROUGH FINAL APPROVAL. SO THAT'S, THAT'S MY UNDERSTANDING OF, OF THE TIMELINE. OKAY. WELL, I I THINK IT'S PROBABLY WORTH JUST, YOU KNOW, PUTTING PUTTING THAT CONCERN OUT THERE. I KNOW I'VE SAID IT BEFORE, I JUST WANTED TO SAY IT AGAIN. YOU KNOW, IF WE'RE NOT SEEING ANYTHING UNTIL OCTOBER AND WE'RE TRYING TO, AND GIVEN HOW MUCH OF A, A DIFFICULT ISSUE THAT WAS, UM, YOU KNOW, HAVING SOMETHING THAT'S DONE AND APPROVED AND IMPLEMENTED BY APRIL, THAT'S A, THAT'S A BIG LIFT. UM, NOT SAYING WE CAN'T DO IT, I JUST WANT US TO BE HONEST WITH OURSELVES ABOUT WHAT'S POSSIBLE. I, I AGREE WITH YOU . I, I VOICED THOSE CONCERNS TO THE BOARD. UM, I, I THINK THAT THAT IS GOOD FEEDBACK FOR US TO GIVE WHEN WE GO TO THE BOARD IN, IN OCTOBER AND DECEMBER. AND IF THERE ARE, YOU KNOW, CERTAIN ISSUES THAT WE WANT FEEDBACK ON, I THINK IT'S APPROPRIATE FOR US TO GET IT AT THOSE MEETINGS TO OKAY. ERCOT OR ANYONE ELSE ON 2 45 AND THE SUBSEQUENT GER. OKAY, NOW WE CAN GO BACK TO MPR 1215. UM, AND SO WE DID APPROVE THIS IN JUNE, AND THEN AT THE, WE APPROVED IT UNANIMOUSLY, SO NO OPPOSING VOTES, UM, AT JULY, TECH ERCOT CAME TO SPEAK TO US. THERE WAS A, I THINK AN ERROR IN THE FORMULA. AND SO THEY FILED COMMENTS CONSISTENT WITH WHAT THEY HAD TOLD US AT ATTACK TO ASKING THE BOARD TO REMAND 1215 BACK TO ATTACK. SO WE COULD FIX THE FORMULA HERE. UM, I, I THINK, OR WE MIGHT BE TABLING IT TODAY OR APPROVING AUSTIN'S ON THE PHONE. AUSTIN ISELLE, IF YOU DON'T MIND. OKAY, GO AHEAD, AUSTIN. YES, THANKS. YEAH, SO WHAT CAITLIN SAID, HOWEVER, SOME LATE BREAKING NEWS. SO YES, WE DID ASK FOR IT. YOU KNOW, WE, WE DISCOVERED AN ISSUE WITH THE FORMULA AFTER YOU ALL APPROVED IT, LIKE WE MENTIONED BEFORE, AND WE DIDN'T WANT TO TRY TO GET THE BOARD TO, TO PROCESS THAT CORRECTION AND APPROVE IT WITHOUT AND APPROVE SOMETHING THAT Y'ALL HADN'T VOTED ON. UM, SO WE HAD IT SENT BACK HOPING IT WOULD JUST BE A SIMPLE APPROVAL FOR Y'ALL TO MOVE BACK FORWARD. HOWEVER, YESTERDAY A COUPLE QUESTIONS CAME UP. I'M NOT SURE IF THERE THEY REALLY ARE AN ISSUE OR NOT, BUT WE NEED TO INVESTIGATE THOSE QUESTIONS TO MAKE SURE THERE'S NOT SOMETHING ELSE THAT, UH, UH, NEEDS TO BE CORRECTED IN THE LANGUAGE. SO WE WERE HOPING TO KEEP IT TABLED FOR ANOTHER MONTH WHILE WE, WHILE WE INVESTIGATE THAT, AND THEN WE CAN REPORT BACK, UM, AS SOON AS WE KNOW AND WHAT'S GOING ON. [00:20:01] OKAY. THANKS AUSTIN. UM, AND SINCE THIS REVISION REQUEST IS BACK TO US FROM THE BOARD, WE DO NEED TO TAKE AN ACTION. SO IF THE ACTION IS TABLING, WE, WE NEED TO DO THAT. SO CAN WE, I THINK WE'D BE LOOKING TO TABLE NPRR 1215 AND ADD THAT TO THE COMBO BALLOT. SEE THREE THUMBS UP AT LEAST. OKAY. ALRIGHT. ANYTHING ELSE UNDER MEETING UPDATES? ALRIGHT, WE ARE ON TO OUR REVISION [4. Review of Revision Request Summary/ERCOT Market Impact] REQUEST. SUMMARIES ARE CUT MARKET IMPACT STATEMENTS AND IMM OPINIONS AND I WILL TURN IT OVER TO ANN. ALL RIGHT, THANK YOU. UM, WE HAVE EIGHT REVISION REQUESTS ON THE PACKAGE AGENDA OF THIS MONTH. ERCOT DOES SUPPORT ALL OF THE REVISION REQUESTS THAT ARE HERE, AND WE HAVE POSITIVE MARKET IMPACT STATEMENTS FOR ALL OF THEM. UM, I BELIEVE THE IMM HAS NO OPINION ON ANY OF THESE, AND THE CFSG HAS REVIEWED THEM AND THERE ARE NO CREDIT IMPLICATIONS. UM, FOR THE REASON FOR REVISIONS, WE HAVE FIVE THAT ARE GENERAL SYSTEM PROCESS IMPROVEMENTS, TWO THAT ARE REGULATORY REQUIREMENTS, AND ONE THAT IS A BOARD MPC DIRECTIVE. OKAY. WOULD ANYONE FROM THE IMM LIKE TO WEIGH IN? I'M SEEING A NO. OKAY. SO NO IMM OPINIONS ON THESE THIS MONTH. [5. PRS Report] NEXT UP WE HAVE THE PRS REPORT. I BELIEVE THE, THE TWO REVISION REQUESTS ARE BOTH UNOPPOSED. SO DIANA, I THINK WE CAN GO THROUGH THE, THE WHOLE REPORT FIRST AND THEN HOPEFULLY ADD THOSE TO THE COMBO BALLOT. GOOD MORNING TACK. DIANA COLEMAN WITH CPS ENERGY WITH THE AUGUST PRS REPORT. WE HAVE TWO NPRS COMING TO YOU FROM PRS. BOTH ARE UNOPPOSED AND NO IMPACT. THE FIRST ONE IS 1221 THAT HAS PROVISIONS ON MANUAL AND AUTOMATIC FIRM LOAD SHED AS WELL AS UNDER VOLTAGE AND UNDER FREQUENCY LOAD SHED AND MANUAL LOAD SHED ON JULY 18TH, PRS UNANIMOUSLY RECOMMENDED APPROVAL AS SUBMITTED ON AUGUST 8TH. PRS UNANIMOUSLY ENDORSED AND FORWARDED ATTACK THE JULY 18TH PRS REPORT AND THE MARCH 20TH IA 4 12 36. THIS IS MODIFICATIONS ADDRESSED THAT WERE INCLUDED IN THE RTC PLUS B WHITE PAPER. AND THIS HAS BEEN WELL VETTED OUT AT NOT ONLY AT THAT TASK FORCE, BUT AT THE DIFFERENT WORKING GROUPS. THIS IS, UM, ON THE R CAPACITY SHORT CALCULATIONS ON JULY 18TH, PRS UNANIMOUSLY RECOMMENDED APPROVAL AS REVISED BY PRS. AND THEN THIS MONTH WE UNANIMOUSLY ENDORSED AND FORWARDED TAG WITH THE JULY 18TH PRS REPORT AND THE JUNE 4TH IMPACT ANALYSIS. OKAY, THANKS DIANA. SO WE ARE LOOKING TO RECOMMEND APPROVAL OF NPR 1221 AS RECOMMENDED BY PRS IN THE EIGHT EIGHT PRS REPORT, AND TO RECOMMEND APPROVAL OF NPR 1236 AS RECOMMENDED BY PRS IN THE EIGHT EIGHT PRS REPORT. CAN WE ADD THESE TO THE COMBO? MORE THUMBS UPS. OKAY, GREAT. ANY MORE? ANY QUESTIONS FOR DIANA? OH, I SEE, UH, SHANE. SHANE? HI. YES, THIS IS SHANE HERRERA WITH ERCOT. CAN YOU VERIFY MY AUDIO'S APPROPRIATE? IT'S, YOU'RE A LITTLE FAINT. OKAY. I WILL SPEAK UP A LITTLE. THIS IS MUCH BETTER. THANK YOU. AWESOME. YEAH, THANKS. UH, I JUST WANNA GIVE A BRIEF UPDATE TO TACK ON ICA ISO'S FINAL READINESS PROCESS TO ENSURE THAT ICA ISO AS THE BALANCING AUTHORITY MEETS THE IMPLEMENTATION TIMEFRAME AND THE OBLIGATION FOR THE NERC RELIABILITY STANDARD EOP 11, VERSION FOUR R TWO, PART 2.2 0.9, WHICH BECOMES ENFORCEABLE ON OCTOBER 1ST, 2024, ERCOT WILL RELEASE A NOTICE TO NERC REGISTERED TRANSMISSION OPERATORS WITHIN THE ERCOT INTERCONNECTION UTILIZING THE NERC REGISTERED PRIMARY AND ALTERNATE COMPLIANCE CONTACTS. THIS NOTICE WILL INFORM THE RTPS THAT NPRR 1221 AND NOER 2 62 LANGUAGE MAKES UP PART OF ERCOT ISO'S OPERATING PLAN UNTIL BOTH THE NPRR 1221 AND NOER 2 62 COMPLETE THE STAKEHOLDER PROCESS AND ENTERED THE BINDING [00:25:01] DOCUMENTS. IT'S JUST A BRIEF UPDATE FOR EVERYONE. OKAY. SO WE ARE LOOKING FOR A MARKET NOTICE. IT, IT'S NOT, UH, GOING TO BE A MARKET NOTICE, IT'S JUST GOING TO BE A NOTICE AND IT'S GONNA GO SPECIFICALLY TO NERT PS WITHIN THE ERCOT INTERCONNECTION. OKAY? OKAY. ANY QUESTIONS OR COMMENTS FOR SHANE? ALL RIGHT. UM, SO I THINK WE WERE, DO WE STILL HAVE THE THUMBS UPS ON ADDING TO THE COMBO? THUMBS UP, WHAT'S THE PLURAL OF THUMBS UP? OKAY. UM, AND ANY OTHER QUESTIONS OR COMMENTS FOR DIANA? ALL RIGHT, THANKS, DIANA. THAT WAS SHORT AND SWEET. OKAY, WE ARE ONTO OUR [6. Revision Requests Tabled at TAC] VISION REQUEST TABLED AT TAC. WE HAVE O-B-D-R-R 46. THIS CAN REMAIN TABLED. WE ARE WAITING ON NPR 1188, WHICH I BELIEVE JUST HAS ONE MORE MONTH AT PRS FOR THE IMPACT ANALYSIS, AND THEN WE WILL SEE IT. UM, SO NEXT IS NPR 1227 AT JULY TECH. WE DID VOTE TO TABLE THIS WHILE WE WAITED FOR R-M-G-R-R 180 1, WHICH HAS COME OUT OF RMS NOW. SO I THINK WE WOULD BE LOOKING TODAY TO RECOMMEND APPROVAL OF NPRR 1227 AS RECOMMENDED BY PRS IN THE JULY 18 PRS REPORT. AND COREY, I THINK YOU WOULD SUGGEST WE ALSO TAKE CARE OF THE ASSOCIATED R-M-G-R-R AT THE SAME TIME, WHICH IS 180 1 AS RECOMMENDED BY RMS IN THE EIGHT SIX RMS REPORT. CAN WE ADD THOSE TO THE COMBO BALLOT? ALL RIGHT. MOVING RIGHT ALONG. [7. OBDRR052, Related to NPRR1246, Energy Storage Resource Terminology Alignment for the Single-Model Era] UH, O-B-D-R-R 52 IS ERCOT. I THINK WE CAN TABLE THIS, BUT I DIDN'T KNOW IF, IF ERCOT WANTED TO MAKE SOME COMMENTS ON THIS ONE. YEAH, YOU, YOU CAN GO AHEAD AND TABLE IT. OKAY. THIS IS POSTED BACK ON JULY 31ST, BUT IT'S PART OF A BIGGER PACKAGE WITH RTCB. OKAY. AND WE DO, THIS IS THE FIRST TIME, SO WE DO NEED TO TABLE THIS ON THE COMBO BALLOT. ALL RIGHT. NOW WE ARE AT THE SUBCOMMITTEE [8. RMS Report] REPORTS. I BELIEVE DEBBIE IS DOING THE RMS REPORT NOW. THANK YOU. THANK YOU, CAITLIN. UH, YES. SO THIS WILL BE VERY BRIEF. WE DID APPROVE R-M-G-R-R 180 1. IT WAS UNANIMOUSLY APPROVED. IT WAS WAITING ON THE NPRR, THE NPRR AND R-M-G-R-R 180 1, OUR COMPANION PIECE. WE DO WANNA MAKE SURE AND, AND LET EVERYBODY KNOW THAT THIS IS NOT CHANGING ANY PROCESSES. THE PROCESSES ARE ALREADY IN PLACE. WHAT IT'S DOING IS WE ARE REMOVING SOME OF THE DEFINITIONS AND WE ARE ALSO MAKING SURE THAT THEY ARE IN ALIGNMENT WITH ANYTHING IN ERCOT PROTOCOL 2.1. SO THOSE ARE THE PRIMARY BIG PIECES. IT'S JUST MAKING THE LANGUAGE EASIER TO UNDERSTAND. RIGHT NOW WE'VE GOT A FEW MISINTERPRETATIONS, SO THAT WAS REALLY THE DRIVER FOR THIS. I WANTED TO BRIEF EVERYONE ON TEXAS AT 5.0 AND ON THE MARKET TRACK SCR EIGHT 17. THESE ARE COMPANION CHANGES THAT ARE GOING IN AT THE SAME TIME, UH, NOVEMBER 9TH. SO ONE OF THE THINGS THAT HAS BEEN, HAS BEEN, UM, ASKED IS WHAT ARE THE TRUE BENEFITS OF TEXAS AT 5.0 AND THE MARKET TRACK CHANGES? THE BIG BIGGEST BENEFIT IN MY OPINION, IS THE INADVERTENT GAINS. SO INADVERTENT GAINS ARE WHEN A CUSTOMER IS INADVERTENTLY SWITCHED TO ANOTHER RETAILER BY ACCIDENT OR THEY'VE, UH, CHANGED THEIR MIND OR THERE WAS LIKE A BREAKDOWN IN THE PROCESS. WHAT WE HAVE DONE FOR YEARS AND YEARS IS MAKE THE CORRECTION IN THE MARKET TRACK SYSTEM, WHICH IS NOT AS TIMELY AS WE WOULD LIKE. IT REQUIRES A LOT OF MANUAL PROCESSING. UM, THERE ARE STEPS WHERE THE TWO CRS, THE LOSING AND THE GAINING CR HAVE TO AGREE. AND, UM, THAT'S, THAT PART IS NOT CHANGING, BUT WE ARE GOING TO A TRANSACTIONAL SOLUTION FOR INADVERTENT GAINS. AND THAT IS A HUGE BENEFIT. IT'S A BENEFIT TO LOGGING AND TRACKING AWARENESS. UH, YOU'LL BE ABLE TO LOOK IN THE MIS FOR YOUR TRANSACTIONS AND SEE WHERE THEY ARE. UH, REALLY SOME GOOD BENEFITS THERE. ANOTHER THING IS THE COUNTY CODE AND THE COUNTY CODE, THE REASON THAT'S SUCH A BENEFIT IS BECAUSE OF THE WEATHER MORATORIUMS. SO AS WE HAVE MORE EXTREME WEATHER IN TEXAS, YOU CAN IMAGINE HOW IT AFFECTS THE WEATHER MORATORIUMS WHEN WE CAN DISCONNECT WHEN WE CAN'T. SO THAT HAS TO BE ON TASK ON KEY AND ACCURATE. SO [00:30:01] THAT'S GONNA GREATLY IMPROVE THAT PROCESS AND MAKE A LOT, UH, MORE VISIBILITY IN INSTEAD OF JUST WAITING FOR THE WEATHER MORATORIUM LISTSERV, WHICH WILL NOT GO AWAY. IT'S JUST THAT YOU'LL HAVE ADDITIONAL DATA. ANOTHER THING IS, UM, AND I MIGHT BE LOOKING AT MY CENTER POINT FRIENDS, KATHY SCOTT, UH, TO MAYBE, UH, EXPLAIN A LITTLE BIT BETTER, BUT THERE ARE A HUGE NUMBER OF CODES THAT ARE GOING IN WITH TEXAS STEP 5.0 RELATED TO HOW SERVICES BEING HANDLED, LIKE IN THE MIDDLE OF A, UM, HUGE WEATHER INCIDENT TO OUR SYSTEMS. SO WHEN YOU HAVE A LOT OF CUSTOMERS WITHOUT POWER THAT WERE KNOCKED OUT BY A STORM, IT HASN'T BEEN EASY TO COMMUNICATE FROM THE TDSP TO THE RETAILER EXACTLY WHAT'S GOING ON. AND THESE CODES ARE GOING TO BE ABLE TO IDENTIFY WHEN IT'S OUT, WHEN WE THINK IT'S GONNA COME BACK ON. IT'S NOT ALWAYS ON TA TARGET AND YOU CAN'T ALWAYS KNOW THAT EXACT DETAIL DUE TO THE MAGNITUDE. AND ALSO IT WE'RE GONNA TELL 'EM WHEN IT DID COME BACK ON. SO THAT'S GONNA GO THROUGH TEXAS SET TRANSACTIONS. AND I BELIEVE MOST OF THESE CAME FROM HURRICANE HARVEY. IS THAT RIGHT? YES. I'M SORRY. I ALWAYS GET THE HURRICANES. YES, THAT'S MIXED UP. OKAY. ALRIGHT. THANK YOU. SO THOSE ARE SOME OF THE BIG BENEFITS COMING OUT OF THE SCR AT 17 FOR MARKET TRACK AND THE TEXAS SET 5.0. THE, UM, LUBBOCK POWER AND LIGHT TRANSITION HAS COMPLETED COMPLETED MONTHS AGO. WE HAVE DONE AN INCREDIBLE AMOUNT OF WORK. I REALLY COMMEND EVERYBODY INVOLVED, PARTICULARLY ERCOT AND L-R-I-T-F LEADERSHIP. AND JOHN SCH IS RMS CHAIR. ONE OF THE THINGS THAT WE ARE STILL WORKING ON, WHICH IS INCREDIBLY IMPORTANT, IS BILLING AND USAGE. AND, UM, I'VE LISTED SOME THINGS THAT WE ARE WORKING ON, WE WILL CONTINUE TO WORK ON. HOWEVER, UH, WE HAVE GONE TO WEEKLY CALLS. THE LAST L-R-I-T-F MEETING WAS HELD AFTER RMS, UM, IN AUGUST. THERE ARE A SIGNIFICANT NUMBER OF QUESTIONS STILL BEING ASKED AND LESSONS LEARNED. SO WE ARE COMBINING THE LESSONS LEARNED AND, UH, MAKING SURE THAT WE INCORPORATE THOSE INTO WHAT'S BEING DONE FOR IMPROVING THE PROCESSES. AND A LOT OF THIS IS A LEARNING CURVE AND MOST OF IT STEMS FROM MARKET RULES AND I GUESS EXPECTATIONS ALL THE WAY ALONG TO THE, THE SYSTEMS IN LUBBOCK POWER AND LIGHT, AND ALSO THE REQUIREMENTS FROM THE CITY OF LUBBOCK. SO WE WORK WITH A LOT OF DYNAMICS IN THAT GROUP. WE EXPECT THE TASK FORCE TO CONTINUE UNTIL THE END OF THE YEAR. AND A LOT OF THAT IS RELATED TO TEXAS AT 5.0. THEY'VE NEVER BEEN THROUGH A TRANSACTION VERSION UPGRADE BEFORE, AND WE ARE GONNA HAVE EVERYBODY INVOLVED. SO WE'RE KEEPING THE TASK FORCE ALIVE UNTIL, UM, WE THINK THE END OF THE YEAR IS THE APPROPRIATE TIME TO SUNSET THAT BACK TO THE HURRICANES. UM, HURRICANE BURL WAS, UH, IT WAS REALLY, I THINK, SURPRISING HOW STRONG IT WAS IN THAT IT KNOCKED OUT SO MANY CUSTOMERS. THE STORM THAT CAUSED SO MANY OUTAGES ACROSS CENTERPOINT, A EP AND TNMP TERRITORY, UM, WAS JUST, UH, CATASTROPHIC. I, UH, JOHN AND I ASKED IF THE T DSPS, THOSE THREE T DSPS WANTED TO PROVIDE AN UPDATE AT RMS AND THEY ALL WANTED TO PROVIDE SOMETHING, UM, IN ADVANCE. AND SO IT WAS, UH, MADE AVAILABLE BEFORE THE RMS MEETING AND THEN DURING THE RMS MEETING. SO THESE ARE SOME OF THE TOPICS THAT WERE DISCUSSED BY ALL OF THE T DSPS. UM, THE ONE THAT I THINK WAS TALKED ABOUT THE MOST MAYBE IS THE VEGETATION MANAGEMENT. SO SOME OF THAT WAS THOUGHT THAT MAYBE IF THAT HAD BEEN, UM, A LITTLE MORE ROBUST BEFORE THE STORM, THERE WOULDN'T HAVE BEEN SO MANY OUTAGES TO THE DISTRIBUTION SYSTEM. ALL RIGHT. ANY QUESTIONS? ALRIGHT, THANK YOU. I DON'T SEE ANY THANKS, DEBBIE. AND WE, SO WE ALREADY PUT, UH, R-M-G-R-R 180 1 ON THE COMBO BALLOT, AND THAT WAS THE ONE VOTING ITEM. NEXT WE ARE TO THE [9. ROS Report] ROSS REPORT. KATIE RICH. YEAH. THANKS CAITLYN. SO WE DO HAVE NO GROUP 2 62 ON THE VOTING ITEMS. THIS ONE IS RELATED TO NPR 1221. THAT WAS JUST, UM, ADDED TO THE COMBO BALLOT UNDER THE PRS AGENDA. SO THINKING THIS IS PROBABLY RIPE FOR THAT AS WELL. AND THEN WE HAVE A FEW ITEMS THAT WE HAVE, UM, APPROVED. [00:35:01] SO THOSE WILL BE COMING BACK. A COUPLE WILL BE COMING BACK FOR IA AND THEN 1235 SA TWO PRS. AND THEN IF YOU SCROLL DOWN, YES, MOST OF THE ITEMS THAT ARE ADDED ON HERE ARE STAYING AT ROSS, THE ONES THAT ARE ACCESS TO, YOU KNOW, MARKET AND TRANSMISSION INFORMATION. SO THOSE WILL BE COMING BACK, UM, AT OUR NEXT MEETING ON SEPTEMBER 9TH. YOU CAN SCROLL DOWN TO THE LAST PAGE. SO OUR NEXT MEETING IS ON SEPTEMBER 9TH, WHICH IS A MONDAY. UM, EVERYBODY WAS SHIFTING FROM THE LABOR DAY WEEKEND, SO, UM, MONDAY, SEPTEMBER 9TH, WEBEX ONLY TUNE IN. ALL RIGHT, ANY QUESTIONS OR COMMENTS FOR KATIE? AND WE ARE LOOKING TO ADD, RECOMMEND APPROVAL OF NORE 2 62 AS RECOMMENDED BY ROSS IN THE EIGHT ONE ROSS REPORT TO THE COMBO BALLOT. OKAY. ALL RIGHT. NEXT [10. WMS Report] IS THE WMS REPORT. ERIC BLAKEY. GOOD MORNING TACK. ERIC BLAKEY WITH PERALES WMS CHAIR. UM, WMS MET ON AUGUST THE SEVENTH. WE HAD A, UH, SEVERAL REPORTS, ONE FROM, UH, JEFF MCDONALD. THE IMM HAD HIS, WE HAD THE ANNUAL, UH, UPDATE FROM, FROM THE IMM ON THE STATE OF, OF THE MARKET REPORT AND THE RECOMMENDATIONS. WE HAD A REALLY GOOD DISCUSSION AND REALLY APPRECIATE JEFF TAKING THE TIME TO MEET WITH US. WE HAD THE 2024 Q2 SETTLEMENT STA STABILITY REPORT. UH, IT SHOWED THE NUMBER OF PRICE CHANGES. RESETTLEMENTS DISPUTES FOR Q2. UH, ALSO INCLUDED INFORMATION RELATED TO COST ALLOCATED TO LOAD AND A SLIDE SHOWING THE SECURITIZATION MONTHLY UPLIFT CHARGES RELATED TO WINTER STORM URI. UH, THEN WE HAD 2024 Q2 UNREGISTERED DG REPORT. IT SHOWED A TOTAL OF, UH, 2,643 MEGAWATTS OF UNREGISTERED DG. IT, UH, NOTED NEW INFORMATION IS BEING PROVIDED BY RELATED TO DG BATTERY STORAGE. AND THEN WE HAD THE AUCTION REVENUE DISTRIBUTION, UH, CARD AND CRR BALANCING ACCOUNT C-R-R-B-A. WE HAD, UH, INITIAL DISCUSSION THE, THE MONTH BEFORE, UH, ERCOT AND THE IMM WERE CONCERNED ABOUT POTENTIAL UNECONOMIC BEHAVIOR BEING USED TO MAXIMIZE THE CARD. WE DISCUSSED A FEW ADDITIONAL OPTIONS AND DECIDED THAT THE BEST PLACE FOR THIS WOULD BE AT WMWG. UH, IN RECENT EMAIL, UH, WMWG UH, REPORTED THAT THEY WILL TAKE THIS UP AT THEIR 9 24 MEETING. IF THERE'S ANY OTHER ALLOCATION METHODS THAT FOLKS WOULD LIKE TO PROPOSE, UH, PLEASE TALK TO BLAKE HOLT. THEN WE HAD H-D-L-L-D-L OVERRIDE REPORT HIGHLIGHTED PERFORMANCE OF SOLAR DURING THE ECLIPSE THAT TOOK PLACE ON APRIL THE EIGHTH. IT SHOWED SOLAR GENERATION WAS 13,000 9, 7 92 MEGAWATTS WHEN THE ECLIPSE STARTED, UH, AND IT DROPPED TO 734. UM, AND THEN FINALLY, THE REPORT OF LARGE LOAD INTER INTERCONNECTION. UH, THIS WAS SOMETHING, I BELIEVE IT WAS DISCUSSED LAST MONTH AT TAC THAT, UH, TAC WOULD LIKE THIS REPORT TO COME TO WMS, UH, SO IT'D BE KIND OF HAVE A PERMANENT HOME. AND THE, UH, THE REPORT WAS THAT THE INTERNET CONNECTION QUEUE CURRENTLY STANDS AT MORE THAN 52,000 MEGAWATTS, AN INCREASE OF 4,636 SINCE THE JULY UPDATE. AS FAR AS REVISION REQUEST VCMR 41, UM, SO TWO AND NOX EMISSION PRICES USED IN VERIFIABLE COST CALCULATIONS, THIS WAS PROPOSED BY ERCOT IN, IN APRIL, UH, AND WOULD HAVE REMOVED THE REQUIREMENT TO USE, UH, INDICES FOR THE PRICE OF SULFUR DIOXIDE. UH, THERE'S A COST AND ERCOT WAS TRYING TO, TO GET AHEAD OF THAT IN THE BUDGET. AND, AND, UH, BUT I THINK THROUGH THE DISCUSSIONS, UH, THERE WAS AN ALTERNATIVE, UH, PROPOSED BY LUMINANT VCMR 42. UH, AND, UH, WE ULTIMATELY VOTED TO REJECT, UH, VCMR 41 AND WE, UH, WE'RE GONNA MOVE FORWARD WITH 42. AND IT, UH, HAS CHANGES TO THE VERIFIABLE COST MANUAL. AND SO THOSE WILL NOW GO TO RCWG. ALSO, UH, NPR 1242 THAT THEY PROPOSED WOULD ADD A USER FEE THAT [00:40:01] WOULD OFFSET ERCOT SUBSCRIPTION COST. ERCOT HAS CONCERNS WITH THE USER FEE AS THEY DO NOT WANT TO SET PRECEDENT FOR PARSING OUT FEES AND THAT IT SHOULD REMAIN IN THE SYSTEM ADMIN FEE. AND THEN THE, UH, NEXT NPR 1226 DEMAND RESPONSE MONITOR, UH, THIS WAS CREATED. THIS WOULD CREATE, UH, A MONITOR TO ASSIST MARKET PARTICIPANTS AND ERCOT OPERATORS IN MAKING JUDGMENTS OF NEAR FUTURE CAPACITY NEEDS. UH, IT'S INTENDED TO DETECT A RESPONSE BY SELECTED LOAD RESPONSES ATTRIBUTABLE TO LOCATIONAL MARGINAL PRICES. FOUR CP, NEAR FOUR CP CONSERVATION ALERTS AND OTHER ERCOT ACTIONS. UM, ERCOT HAS STATED THEY BELIEVE THE THE REPORT MAY HAVE VALUE HOW, HOWEVER, THEY HAVE CONCERNS WITH UTILIZING THE NPR PROCESS TO REQUIRE NEW BA NEW DASHBOARDS ON THE WEBSITE. AND SO, UH, AFTER THE DISCUSSION, WMS DID ENDORSE THE NPR. UM, THERE WAS A SIMILAR DISCUSSION AT PRS, UH, THAT, THAT WAS HELD ON THIS, UH, PROPOSAL. UH, FINALLY WE HAVE NPR 1238 VOLUNTARY REGISTRATION OF LOADS WITH CURABLE LOAD CAPABILITIES. IT INTRODUCES A NEW CATEGORY OF VOLUNTARY EARLY CURTAILMENT LOAD BECL, AND ESTABLISHES A PROCESS BY WHICH LOADS MAY OPERATE AS A-V-E-C-L SO THAT THEY CAN BE ACCOUNTED FOR DIFFERENTLY IN LOAD SHED TABLES THAN OTHER LOADS. WE TABLED THIS AND REFER THAT TO WMWG. THIS IS OUR LIST OF OTHER, UH, TABLED ITEMS THAT REMAIN TABLED. AND OUR NEXT MEETING IS SEPTEMBER THE 11TH. BE HAPPY TO ANSWER ANY QUESTIONS. ANY QUESTIONS OR COMMENTS FOR ERIC? I DON'T SEE ANY. I'LL, I'LL NOTE TWO THINGS. UM, THANK YOU FOR TAKING UP THE STATE OF THE MARKET AND FOR THE IMM TO FOR, FOR JOINING. YOU GUYS. I GOT SOME FEEDBACK ON MAYBE FORMALIZING THAT PROCESS A LITTLE BIT AT, AT WMS OR TAC, KIND OF WHAT ARE THE, THE RECOMMENDATIONS WE'RE LOOKING AT? DO WE WANNA EXPLORE THOSE FURTHER, UM, IN DOING THAT EVERY YEAR, BUT WE CAN, WE CAN TALK TO LEADERSHIP AT WMS AND SEE WHAT YOU GUYS THINK. AND THEN I, I KNOW, UH, ERIC, THAT YOU AND JIM HAVE A LONG LIST OF ACTION ITEMS THAT YOU WERE TRYING TO DELETE, AND COLIN AND I WERE LOOKING AT THE, THE TAC ACTION ITEMS TOO. SO I THINK WE WOULD LIKE TO MAKE SURE WE'RE LOOKING AT THOSE AND, AND SEE WHICH ONES WE CAN REMOVE FROM, FROM THE TAC ACTION ITEMS AS WELL AS WMS SOMETIME LATER THIS YEAR. YEAH, I, I'LL JUST ADD, THAT'S A GOOD COMMENT TO LET ME SAY THAT AT THE BOARD THERE WAS A REALLY GOOD PRESENTATION, UH, FROM DAVE ON EPA AND SOME OF THE THINGS THAT, THE IMPACTS THAT, THAT ARE GOING ON AND A LOT OF QUESTIONS FROM THE BOARD. AND I, I CAN'T HELP BUT LOOK AT MY TAC ASSIGNMENT THAT SAYS WE SHOULD BE LOOKING AT THESE IMPACTS AND I'M NOT REALLY SURE WHAT TECH WOULD LIKE FOR US TO DO WITH THAT. SO IT WOULD BE HELPFUL TO GET SOME DIRECTION ON, YEAH, I THINK WE MIGHT START WITH THE WHAT'S ON THE TAC ACTION ITEMS, UM, AND WHICH IS INCLUSIVE OF WMS AND, AND SEE WHAT WE CAN REMOVE AND HOPEFULLY THAT'LL HELP YOU GUYS OUT. THANK YOU. ALRIGHT, THANKS ERIC. UM, SO NEXT [11. Credit Finance Sub Group Report (Part 1 of 2)] IS THE CREDIT FINANCE SUBGROUP REPORT WITH BRENDAN. AND WE DO HAVE ONE VOTING ITEM HERE ON, UH, MEMBERSHIP. OKAY, THANKS. CAN YOU HEAR ME OKAY? IT'S A LITTLE BIT FAINT. LET ME GET CLOSER TO MY COMPUTER. OKAY. UM, ALL RIGHT, THANKS A LOT. UH, THIS IS FROM OUR AUGUST 21ST, UH, CFSG MEETING. LAST WEEK WE LOOKED AT THE OPERATIONAL CREDIT, NPRS WITHOUT CREDIT IMPACTS. UH, WE'RE STILL TALKING ABOUT THE ESTIMATE AGGREGATE LIABILITY CHANGE PROPOSALS, THE, UH, ADMINISTRATIVE UPDATE ON, UH, NPR 1215. UM, I AM NOT GOING TO TALK ABOUT PCM, I APOLOGIZE THAT'S NOT THERE, BUT IF YOU HAVE ANY QUESTIONS, PLEASE REACH OUT TO ME. UH, AND THEN THE REGULAR CREDIT EXPOSURE UPDATES AND SOME, UH, COMINGS AND GOINGS. NEXT SLIDE, PLEASE. UH, SO FOR NPR 1215, UH, CLARIFICATIONS ON DAY AHEAD, UH, ENERGY ONLY OFFER CALCULATION. UH, THIS WAS AN ADMINISTRATIVE CHANGE TO CORRECT A FORMULA ERROR. IT WAS AN INADVERTENT CHANGE IN THE E TWO PARAMETER OF THE CREDIT FORMULA, UH, THAT SENT TO T FOR A VOTE WITH EIGHT ONE ERCOT COMMENT. SO I THINK YOU, THAT'S ON THE BALLOT TODAY. UH, THE PURPOSE OF THE MPR WAS A CLARIFICATION OF THE E ONE PARAMETER. THANK YOU. UH, AND WE DIDN'T VOTE ON IT. NEXT SLIDE, PLEASE. UH, OKAY, SO WE'RE CONTINUING, THIS IS OUR KIND OF FOCUS. UH, WE SPEND AS MUCH AS TWO TO THREE HOURS EACH MEETING ON THIS, UM, [00:45:01] ON CHANGES TO THE ESTIMATE AGGREGATE LIABILITY, UH, WHICH AS A COMPONENT OF THE COLLATERAL REQUIREMENTS TO THE MARKET PARTICIPANTS, UH, POST TO ERCOT. SO, UH, JUST TO HIGHLIGHT WHAT'S INVOLVED HERE IS, UH, THE, WE'RE BASICALLY A MAX, UM, EXPOSURE IN A 40 DAY LOOK BACK PERIOD, UH, BEGINNING ON, AND IT'S FOR NEW, NEW COUNTERPARTIES, BEGINNING ON THE COUNTERPARTY COMMENCES ACTIVITY IN THE MARKET. AND THEN THE, UH, PLUS THE, UH, THE, UH, REALTIME FORWARD ADJUSTMENT FACTORS TIMES THE, UH, MAX TEL R REALTIME LIABILITY EXTRAPOLATED IN THE PREVIOUS, UH, SAYS LRQ. BUT LET'S CALL THAT 40 DAYS. UM, THE, UH, DAY AHEAD FORWARD ADJUSTMENT FACTOR TIMES, THE TIMES THE DAY AHEAD LIABILITY. AND, UM, THE MAX OF, UH, SEVERAL OTHER COMPONENTS RELATED TO BUILD AND UNBUILD ACTIVITIES. UH, LET'S SEE. AND THEN THE, UH, THE, THE FORWARD ADJUSTMENT FACTORS. AS A REMINDER, THESE ARE THE WEIGHTED RATIO OF, UH, FORWARD NORTH HUB PRICES OVER SETTLEMENT PRICES. SO IF THE FORWARDS ARE HIGHER, THE RA IS, UH, GREATER THAN ONE. UM, SO THE WAY TO THINK ABOUT THIS IS JUST BRENDAN, I THINK WE LOST YOU. SO, RIGHT, YOU'RE, BRENDAN, YOU'RE CUTTING OUT. WE CAN'T HEAR YOU BRENDAN. SHOULD WE TYPE AND LET HIM KNOW? YEAH. DO YOU WANNA MOVE TO RTC AND COME BACK TO THIS? UH, NOPE. CAN YOU HEAR ME? NOPE. CAN YOU HEAR US? UH, I CANNOT, CAN YOU HEAR ME? TESTING, TESTING. WE, WE CAN SORT OF HEAR YOU. OH, GEEZ. REALLY? UH, WE CAN HEAR YOU NOW. OKAY. LITERALLY GOT MY FACE ON MY COMPUTER. CHEW ON THAT MICROPHONE, MAN. CHEW ON IT. I'M GONNA DROOL ON IT THEN. THAT, THAT'S NOT GOOD. UM, SO, UH, YEAH, SO JUST THE KEY COMPONENT OF THIS IS BAY. YEAH, WE, WE CAN'T HEAR YOU. IF, IF YOU'RE AT ALL CURIOUS, WHAT TYPICALLY GETS SAID IN ANOTHER REGION WHEN THIS HAPPENS IS NEXT SLIDE IS IF YOU WANT TO HEAR, YOU SHOULD BE HERE. HE'S STILL GIVING, HE'S STILL GIVING THE REPORT. , HANG UP. WE CAN'T HEAR YOU. HELLO? CAN YOU HEAR ME OKAY, BRENDAN, I THINK WE'RE GOING TO MOVE ON AND LET YOU SORT OUT YOUR AUDIO. OKAY. MATT, ARE [12. RTC+B Task Force Report] YOU READY FOR THE RTC UPDATE? AND THEN I THINK AFTER YOUR UPDATE, YOU, YOU HAVE A SEPARATE ISSUE TO DISCUSS WITH US, RIGHT? OH, YEAH. ON THE CR PIECE, ON THAT PIECE OR NO, NO, NO. ON THE STILL WITH RTC, BUT NOT IN THIS YES. PRESENTATION. YES. SO IF I DON'T HIT IT, LET ME KNOW THAT I DIDN'T HIT IT. ALRIGHT, SO TODAY'S UPDATE I WANTED TO BRING FORWARD, UM, WE'RE ON THE EVE OF HAVING THE PROJECT SCHEDULE. UH, WE'VE BEEN WORKING A LOT. THIS IS ERCOT HAS BEEN, YOU KNOW, TALKING ABOUT THE MARKET TRIALS PIECE, GETTING FEEDBACK FROM THE TASK FORCE. UH, SOME OF THE DETAILS WE'RE STILL WORKING OUT, BUT ULTIMATELY THIS IS THE LAST LEG OF THE IMPLEMENTATION. AND SO WHAT WE'RE LOOKING IS THE UPSTREAM FROM MAY AND FORWARD IS TO, WHAT DOES IT LOOK LIKE TO RELEASE, TEST, GET EVERYTHING INTO AN ENVIRONMENT WHERE THE MARKET COULD THEN LEVERAGE, UH, THIS PIECE. SO THE MAIN THING OFF THIS SLIDE IS WE'RE NOT GOING LIVE IN SEPTEMBER, 2026 AS WELL AHEAD OF THAT. AND BY NEXT MONTH AT THIS TIME, YOU SHOULD HAVE A BETTER FEEL FOR WHAT THAT DATE IS. THE OTHER THING WE WANNA DO IS, IS WE'RE GETTING THAT SET OF DATES LINED UP AS WE ARE STARTING TO MAKE OUR OWN MILESTONES. THERE'S THE OUTSTANDING, UM, SEQUENCE OF ISSUES THAT NEED TO BE RESOLVED BEFORE GO LIVE. SO WE DO, IT'S BEEN A LIST OF 20 TEARING AROUND NOT A, NOT A CLEAR PRIORITY IN HOW THINGS ARE RELATED TOGETHER. SO WE'LL BE LOOKING TO, UM, KIND OF RE-ENGINEER THIS A BIT TO GIVE A CLEAR LINE OF SIGHT AS TO HOW THINGS WOULD BE RESOLVED AND HOW THINGS FIT INTO THE NEXT THING. UM, SO STAY [00:50:01] TUNED FOR MORE DETAILS ON THAT. BUT I WILL PAUSE. I SEE ERIC'S CARD IS UP. ARE YOU ABLE TO TELL US WHAT YEAR TO EXPECT THIS IN YET? I KNOW YOU'VE THOUGHT ABOUT THAT. UM, I DON'T WANNA, SURE. NO, I, I'LL GO AHEAD AND SAY WHAT'S BEEN SAID IS THERE IS A POSSIBILITY FOR GETTING THIS IN BY THE END OF 2025. OKAY. SO THAT'S MORE FIRM THAN IT WAS WHEN YOU SAID THAT A, A LITTLE WHILE AGO. WE ARE STILL MEASURING AND ASSESSING THAT, BUT THAT IS A POSSIBILITY. OKAY. THANKS. ANY OTHER QUESTIONS ON THAT? I SEE MOVEMENT. YES. OH, SORRY, IAN, UH, NEXT MONTH WHEN YOU COME BACK, UM, SOME CONFIDENCE, UM, INTERVALS OR SOME CONFIDENCE THAT ERCOT HAS ON THOSE DIFFERENT DATES WOULD BE REALLY APPRECIATED. UH, MOVING IT SO MUCH HAS A VERY LARGE IMPACT ON FORWARD, I, I FEEL COULD HAVE A VERY LARGE IMPACT ON FORWARD MARKETS. SO, UM, UNDERSTAND THE ERCOT GETTING IT DONE FASTER, BUT JUST HOPING TO SAY YOU NOW HAVE AT LEAST X PERCENT CONFIDENCE THAT IT WILL BE IN BY THE DATES YOU WERE SAYING OR SOMETHING ALONG THOSE LINES. YES. AND SO THERE IS DEFINITELY THE, I THINK PART OF IT IS, WE'LL, THE PROGRAM WILL HAVE A DATE AND THEN THERE'S THE RISK MANAGEMENT AROUND IT OF WHAT ARE THE DATES THAT HAVE THE CONFIDENCE IN IT. SO YES, THAT'S PART OF THE VETTING PROCESS. THANK YOU VERY MUCH. YOU BET. ALRIGHT, GOOD QUESTIONS. ALRIGHT, MOVING ON. SO ONE OF THESE REVISIONS WAS HERE TODAY. SO WHAT, WHAT HAS HAPPENED AT THE TASK FORCE WAS AS ERGOT GOT THROUGH THE REQUIREMENTS FOR REAL TIME IZATION, THERE'S A FOUR YEAR LAG IN OTHER THINGS THAT HAVE HAPPENED. SO THERE'S ALSO SOME CLARIFICATIONS THAT WE FOUND IN BUSINESS REQUIREMENTS. ALL THOSE ARE BAKED INTO NPR 1245. SO THAT IS A REALIGNMENT OF TRUING UP PROTOCOLS TO MATCH WHAT'S IN BUSINESS REQUIREMENTS AND TO CATCH UP ON OTHER THINGS THAT HAVE KIND OF, UM, BEEN EVOLVING IN PARALLEL TO THAT. SEPARATE FROM THAT, BUT VERY SIMILAR IS THE, UH, ENERGY STORAGE RESOURCES. NPR 10 14 WHEN THE BATTERY ENERGY TASK FORCE TOOK IT ON WAS A, UH, A REALLY JUST A VIEW OF HOW DO WE GET THIS SINGLE MODEL THING IN. BUT IT DIDN'T LOOK AT THE RIPPLE EFFECT INTO ALL THE OPERATING GUIDES AND OTHER THINGS. SO THIS IS AN ALIGNMENT ISSUE THAT KEN RAGSDALE IS CHAPERONING, WHICH IS NPR 1246. AND THAT'S A LOT OF WHERE YOU SEE GENERATION RESOURCE NOW THERE'S A COMMA AND IF IT'S ALSO A BATTERY ENERGY STORAGE RESOURCE TYPE CHANGES. SO IT'S THAT KIND OF TWEAKING OF THINGS. SO IT'S NOT MECHANICAL IN NATURE AS MUCH AS IT IS ADMINISTRATIVE, BUT AGAIN, THAT HAS A RIPPLE EFFECT OUT INTO OPERATING GUIDES, PLANNING GUIDES, AND THAT OBER THAT WE TALKED ABOUT, UH, THE PLAN IS FOR WHETHER OR NOT PRS WILL DEFER BOTH OF THOSE NPRS OVER TO THE TASK FORCE FOR A COUPLE MONTHS JUST TO LET IT SOAK. IT'S HUNDREDS OF PAGES OF DOCUMENTS, VERY SMALL CHANGES, BUT IT'S, SOMEBODY NEEDS TO DO A TOP DOWN REVIEW. AND SO THAT'S THE CHANCE FOR THAT GROUP AND ANY OTHER STAKEHOLDER GROUP TO LOOK THROUGH TO SEE IF THERE'S ANY ERRORS. THE NEXT PIECE IS THE RTC SIMULATOR UPDATE. UM, ERCOT HAS AN INTERNAL TOOL THAT'S NEARING COMPLETION. IT'LL, IT'LL NEVER BE COMPLETE IN SOME WAY. SIMULATORS CAN ALWAYS GET BETTER, BUT THIS WILL BE ERCOT CAPABILITY TO RUN HISTORICAL OPERATING DATES THROUGH AN RTC SYSTEM TO WATCH PRICE, UM, PRICE CONVERGENCE PUBLISH STUDIES OF WHAT WOULD'VE HAPPENED IF THIS WAS IN RTC TODAY. AND SO THE IDEA IS TO HAVE THOSE STUDIES WE'VE BEEN SHARING WITH THE TASK FORCE WHAT IT CAN AND CANNOT DO. AND WE'RE LOOKING TO BRING SOME INITIAL, UM, WELL AN UPDATE IN SEPTEMBER, BUT ALSO HOPEFULLY SOME INITIAL CASE STUDIES BY THE END OF THE MONTH IN SEPTEMBER TO START TO SEE WHAT THOSE RESULTS LOOK LIKE. NEXT ISSUE WAS THE EXPLANATION MARKET SUBMISSION ISSUES. WE HAD RELEASED THE TEXT TECHNICAL SPECIFICATIONS BACK IN JUNE. WE DID A BUSINESS WALKTHROUGH WHERE NATHAN SMITH FROM ERCOT WALKTHROUGH WHY EACH OF THE SUBMISSIONS HAVE CHANGED. SO IT'S KIND OF THE BEFORE AND AFTER TYPE DELTA VIEW OF EACH OF THOSE SUBMISSIONS. UH, ANOTHER ONE WAS THE MARKET READINESS. TWO PIECES OF THAT IS, UH, WE DID GET SOME COMMENTS BACK ON THE MARKET TRIALS PLAN. SOME OF THOSE WERE ADMINISTRATIVE, SOME OF THEM GOT WAY INTO THE WEEDS ON THE LOAD FREQUENCY CONTROL TEST. SO THIS IS THE IDEA WHERE AS WE GET CLOSE TO GO LIVE, WE WOULD TEMPORARILY SWITCH OVER TO RTC SYSTEMS AND THEN SWITCH BACK. AND DURING THAT TWO HOUR PERIOD, WHAT DOES IT LOOK LIKE TO MANAGE REGULATION AND DISPATCH FOR THAT. AND SO WE'RE GOING, UM, WORKING WITH SOME STAKEHOLDERS ON WHAT THEIR CONCERNS WERE AND HOW TO DO THAT AND BRING IT BACK IN SEPTEMBER MEETING. AND THEN ANOTHER ONE HERE IS THE, UM, THE ATTESTATION SCORECARD UNDER THE MARKET READINESS. THAT'S ON THE NEXT SLIDE WITH SOME GOOD NEWS. AND THEN ON ISSUE 18, THE PLACEHOLDER THAT WE HAD FOR AS DEMAND CURVES. I WANNA TOUCH ON THAT AGAIN AT THE END OF THE DISCUSSION. AND THEN THE LAST PIECE IS WE DID A DEEP DIVE, UH, MAGGIE FROM ERCOT BROUGHT FORWARD THE, UH, MAPPING OF BILLING DETERMINANTS. THE, THE SETTLEMENTS FOLKS HAVE [00:55:01] BEEN CHOMPING AT THE BID IS, PLEASE TELL US HOW RTC WILL IMPACT OUR SETTLEMENT SYSTEM. SO STATEMENTS ARE ALL THE SAME, BUT IT'S THE BILLING DETERMINANTS WITHIN THOSE THAT HAVE CHANGED. AND SO SHE DID A WALKTHROUGH ON THOSE OVER TWO HOUR PERIOD AND WE'LL PROBABLY END UP PACKAGING THAT AS PART OF OUR TRAINING, UM, READINESS FOR RTC. SO HERE'S THE GOOD NEWS. SO WE DID, YES, YOU WANNA PAUSE FOR A MINUTE WITH SOME QUESTIONS ON THAT SLIDE? YES SIR. BILL. YEAH. THANKS MATT. A FEW QUESTIONS HERE ON THE RTC SIMULATOR. YES, SOME, A LOT OF INTEREST IN WHAT THAT COULD LOOK LIKE. WE'VE DONE BACKCAST MANY TIMES. I'M THINKING ABOUT THE RDC BACKCAST OF LIMITED VALUE. MM-HMM. . SO YOU SAID THAT WE'LL BE ABLE TO RERUN A DAY IN THE PAST. IS THAT GONNA GIVE US FIVE MINUTE LMPS AND ANCILLARY SERVICE PRICES FOR THE ENTIRE DAY? WILL IT ACTUALLY HAVE A COMMITMENT ALGORITHM? THAT'S THE, THE PROBLEM WITH USING A STATIC DATA SET AND THEN JUST RERUNNING IT, IS IT, IT NORMALLY THAT DOESN'T, IS NOT REFLECTIVE OF WHAT WOULD HAPPEN IN REALITY. SO I'M, I'M JUST CURIOUS WHAT WE COULD EXPECT IN THE SIMULATOR. WELL, THE EASIEST ONE THAT WE CAN DO IS JUST TO RERUN INDIVIDUAL SKIDS. THEY HAVE DEVELOPED A FUNCTIONALITY TO WHERE YOU CAN FEED INTO THE NEXT ONE, TO THE NEXT ONE, TO THE NEXT ONE. SO THE OUTPUT WOULD MANAGE OVER A PEAK OR THROUGH A, A TIGHT PERIOD TO WHERE ONE SET OF RESULTS WILL BE ASSUMED THAT THAT'S WHAT EVERYONE DID TO GO TO THE NEXT ONE. SO WE WILL HAVE THAT SEAMLESS CAPABILITY IS WHAT THEY'RE DRIVING TOWARDS. SO AT MINIMUM WE'LL HAVE INDIVIDUAL SCHEDULE RUNS THAT WE CAN BRING FORWARD. OKAY. BUT THEN AGAIN, THE SIMULATOR IS TRYING TO RUN AN ENTIRE DAY, OR I SHOULD SAY A RAMPING PERIOD OR SOMETHING LIKE THAT. AWESOME. THAT MAKES SENSE. UM, AND THEN ON MARKET READINESS, I'M GONNA BE BEATING THE DRUM ON THIS BECAUSE THIS IS GETTING MORE REAL AND I'M GETTING A LOT MORE QUESTIONS ON IT. AND THAT IS TO HAVE TRAINING MODULES. YEP. PREPARED. WE NEED THAT. THAT'S A PRETTY BIG YEAH, I'LL, I'LL HIT THAT ON JUST A ONE. OH, YOU KNOW RTC 1 0 1? YEP. 2 0 1, MAYBE 3 0 1. I DON'T KNOW, BUT, UM, OUR FOLKS ARE GONNA NEED TO SEE THAT. YEP. SO WHAT I AM LOOKING AT, WHAT I'VE BEEN WORKING ON IS CREATING AN OUTLINE FOR EACH OF THOSE HIGH LEVEL OUTLINE, WHAT'S THE PURPOSE OF THESE AND THE MODULES. AND THEN TO WORK WITH THE TASK FORCE ON WHAT THE MODULES NEED TO CONTAIN TO SEE IF WE'RE MISSING, MISSING ANYTHING. OKAY. AND THEN THE THIRD THING HAS TO DO WITH, UM, REALLY THE DASHBOARDS AND THE SCREENS THAT ARE AVAILABLE ON THE ERCOT WEBSITE. NOT NECESSARILY THE EXTRACTS OR THE MIS. SO RIGHT NOW WE'VE GOT ALL THESE DISPLAYS FOR PRICES. YEAH. WHAT COULD WE SEE? I DON'T KNOW IF YOU HAVE WIRE FRAMES OR, YOU KNOW, EXAMPLES OF WHAT, OF HOW THOSE WILL ALL LOOK UNDER RTC. UH, THAT WOULD BE VERY HELPFUL AS WELL. I MEAN, I OBVIOUSLY WE'RE GETTING CLOSER TO THIS BECOMING, UH, GOING LIVE. SO THOSE ARE ALL THINGS THAT YOU'RE GONNA HEAR US ASKING FOR MORE, MORE. VERY GOOD. ALRIGHT. THANK YOU. GOOD. THANKS FOR THE HEADS UP ON THE DISPLAYS THAT, UH, THAT WILL HELP THE NEXT MEETING. ALRIGHT, ANY OTHER QUESTIONS, NED? HEY MATT. UH, THANKS FOR WALKING THROUGH THIS AND, AND YOU KNOW, THANK YOU AGAIN FOR ALL THE, ALL THE WORK AND, AND TAKING FEEDBACK THAT YOU'VE DONE IN, UH, IN THE TASK FORCE LEADERSHIP. AND, AND ALSO THANK YOU TO MAGGIE FOR WALKING THROUGH THE SETTLEMENTS. UH, YOU KNOW, IN THE LAST MEETING THAT WAS SOMETHING THAT I KNOW OUR FOLKS REALLY VALUED. AND, UM, TO, TO BILL'S POINT AND I, I HEARD YOU MENTION THAT YOU'RE GONNA, THINKING ABOUT PUTTING THAT IN THE TRAINING MODULES, UM, THERE IS A LOT OF VALUE IN A LOT OF APPETITE FOR THAT, ESPECIALLY AS FOLKS ARE, ARE REALLY GRAPPLING WITH HAVING TO BUILD SYSTEMS. MM-HMM. TO, TO, YOU KNOW, TO HELP SUPPORT GO LIVE. UM, SO, UH, BIG THUMBS UP AND, AND SECOND THAT, UH, SECOND THAT MOTION, UM, THE, THE REASON I PUT MY CARD UP WAS ON THE SIMULATOR. YOU KNOW, I KNOW WE, WE'VE TALKED ABOUT THIS IN THE TASK FORCE, BUT ALSO WANTED TO SAY IT FOR, FOR THIS GROUP TO HEAR, YOU KNOW, YOU KNOW, THE REMINDER THERE IS WHAT THE KEY PRINCIPLE THAT IS IN REAL, IN REALTIME CO OPTIMIZATION IS WE'RE LOOKING TO SEE DOES THAT MATCH WHAT THE ORDC OUTCOMES ARE? YES. AND THE, THERE, THERE HAS BEEN A, A CONCERN THAT I THINK I'VE HAD AND OTHERS HAVE HAD THAT, THAT WILL NOT NECESSARILY LINE UP WITH ERCOT OPERATIONS PREFERENCES, YOU KNOW, THE COMMITTED CAPACITY MARGIN, UH, THAT WE'VE TALKED ABOUT BEFORE A FEW TIMES AND, YOU KNOW, BROADLY THE CONSERVATIVE OPERATIONS CONCEPT. UM, AND SO WHILE I REALIZE THE SIMULATOR CAN'T, CAN'T NECESSARILY SOLVE THAT, I THINK, UH, HAVING SOME QUALITATIVE DISCUSSION AROUND WHETHER WE MIGHT EXPECT TO SEE, UM, OR SEE RISKS OF, YOU KNOW, NOT HAVING MARKET OUTCOMES ALIGN WITH, UH, YOU KNOW, DESIRED OPERATIONAL OUTCOMES. THAT'S A, THAT'S A BIG ITEM THAT [01:00:01] WE'LL, WE'LL ALL WANNA BE WATCHING FOR. VERY GOOD. SO, ALRIGHT. THAT'S JUST A PSA FOR THIS GROUP. YEP. THANKS. APPRECIATE IT. ANY OTHER QUESTIONS? THERE'S A QUESTION FROM SHAMS. YES, SHAMS, GO AHEAD. YEAH, MATT, UH, THE LAST MEETING, YOU KNOW, I PRESENTED ON THE ABSENCE OF INDIFFERENCE PAYMENT IN THE RTC DESIGN CURRENTLY AND THE NEED, UH, TO FIX THAT AND I DON'T SEE THAT IN THIS LIST. MAYBE WE NEED TO ADD A NEW THAT'S RIGHT. OKAY, SEAN, I, I WILL PUT THAT ON THE NEXT ONE. I FOR, YOU'RE RIGHT, THAT WAS SOMETHING YOU SENT IN THAT MORNING. WE TALKED BRIEFLY ABOUT, I DUNNO, THAT WE HAD ANY ACTION ON. UM, BUT IF YOU'D LIKE THAT TRACKED AS AN UPDATE, THAT'S SOMETHING WE CAN DO. BUT WHAT I FOUND IS AT THE END OF THE MEETING, THERE WAS NO ACTION OR NEXT STEPS WITH, AND, UM, THAT'S WHY IT HASN'T BEEN NECESSARILY REPRESENTED, UH, IN THE NEXT AGENDA. I THOUGHT ERCOT UH, SAID THAT, YOU KNOW, YOU'D NEED TO STUDY THAT WITH THE TOOL, WITH THE TOOL ONCE IT'S AVAILABLE, STUDY THAT ISSUE AS WELL. YEAH, I, DAVE MAY BE ABLE TO HELP ME OUT ON THIS ONE. I DON'T KNOW THAT WE WERE LOOKING TO VENTURE INTO THAT CHANGE AND THAT THE TOOL COULD HELP IN THAT, BUT I DON'T KNOW THAT YOU'VE BROUGHT FORWARD SOMETHING THAT WAS A PRIORITY. WE SAW IT MORE AS AN NP EXISTING NPR THAT WAS IN FLIGHT RATHER THAN THE TASK FORCE TRYING TO TACKLE IT. BUT DAVE, DO YOU WANT TO CONTRIBUTE ANYTHING TO THAT? AND DAVE IS WORKING ON A HUNDRED THINGS. HE MAY NOT BE TUNED IN RIGHT NOW. ALL RIGHT. WELL SEAN, I'LL HAVE IT ON THE NEXT UPDATE I GUESS AT THE NEXT TASK FORCE MEETING. I WILL BEG THE QUESTION OF WHAT'S NEXT FOR THIS AND THEN WE CAN BRING IT BACK MORE A BETTER DOCUMENTED FOR THAT. SO APOLOGIES FOR THE MISS. OKAY, NO PROBLEM. OKAY. THERE WAS A COMMENT FROM BRIAN, YOUR QUESTION, JUST A, A COUPLE SIMULATOR FOLLOW UP QUESTIONS. UM, UH, A LOT OF FOLKS CLEARLY ARE INTERESTED IN THIS. HOW ARE YOU GONNA NOTICE LIKE WHEN IT'S, YOU KNOW, WHEN IT'S DROPPED? YEAH, I WILL SAY IT MAY BE WORTH A SPECIAL MEETING. WHEN WE DO HIT THAT, I REALIZE I DON'T WANNA SAY, HEY, GREAT, WE GOT IT. LET'S WAIT FOR THE NEXT MEETING. UM, AND SO LET ME TALK TO OUR TEAM AND FIGURE OUT WHAT THAT LOOKS LIKE TO BE MORE OF A, I, I THINK WHAT I'M LEARNING IS THAT EVERY WEEK MATTERS RIGHT NOW. AND SO, UH, WE WILL TALK ABOUT WHAT DOES IT LOOK LIKE WHEN WE HAVE THAT TO BE ABLE TO ANNOUNCE SOMETHING AND SEE IF WE CAN GET IN FRONT OF PEOPLE. JUST A SECOND QUESTION IS JUST AROUND EXPECTATIONS FOR EASE OF USE. LIKE FOR EXAMPLE, WILL THERE BE LIKE A DATE RANGE WHERE I CAN, YOU KNOW, SAY START THE SIMULATOR WHEN ECRS WENT LIVE THROUGH TODAY AND YOU SEE INTERVALS, YOU KNOW, PRIZES FOR EVERY INTERVAL? OR HOW, HOW CONSTRAINED IS THIS THING? OH YEAH, SORRY. LET ME, UM, OKAY, I'M GONNA PAUSE TWO TOOLS. ONE IS THE TOOL WE'RE TALKING ABOUT, WHICH IS A SIMULATOR, WHICH IS ERCOT SAVE CASES DATABASE, RUN IN-HOUSE, DO STUFF, UH, RIGHT NOW IS NOT EQUIPPED TO JUST SET IT AND FORGET IT AND RUN A WHOLE YEAR. THAT'S NOT HERE YET. DO WE HAVE CAPABILITY FOR ONE OUTPUT TO FEED INTO THE NEXT TO THE NEXT? YES. SO I CAN'T SAY THAT WE'RE, WE HAVE A, AN ESTIMATED TIME BY WHICH WE COULD RUN A FULL SIMULATION FOR A YEAR OR SOMETHING LIKE IT FULL BACK CAST. SO THIS IS GONNA BE KIND OF TAKEN THAT, AND THAT'S THE PUNCH LIST WE ASKED FOR FROM THE TASK FORCE OF WHEN WE START TO RUN DAYS, WHICH 20 DAYS DO YOU WANNA START LOOKING AT? AND WE HAVE THAT LIST. AND SO THAT'S WHERE WE'RE GONNA FOCUS FIRST. HAS THAT HELPED KIND OF HEM IN WHAT WE CAN DO AND NOT DO AT THIS POINT? YEAH, I'M JUST ASKING FOR EXPECTATION PURPOSES. I MEAN, I, I RECOGNIZE THAT 20 DAYS IS WHAT WE'LL, WE'LL START WITH AND THEN I, I JUST THINK THERE'S PROBABLY MORE CURIOSITY ABOUT, UM, UH, TRYING TO LOOK AT A FULL YEAR, UM, AND COMPARE THAT AGAINST SOME OF THE RDC OUTCOMES AND, UM, THAT, THAT, UH, I THINK PEOPLE ARE GONNA WANT TO TALK ABOUT. VERY GOOD. THANK YOU. THANKS. YOU HAD ANOTHER REASON TO HAVE A SPECIAL MEETING WHEN THAT'S READY. ALRIGHT, SMI. UM, IT IS THE PLAN TO SHARE THE DATA, THE UNDERLYING DATA AND THE RESULTS ARE JUST, UH, LIKE, AND I ASSUME THE TOOL IS NOT AVAILABLE FOR MARKET PARTICIPANTS TO USE, BUT IT'S ONLY FOR TO USE, RIGHT? YEAH. SO, SORRY, I DID THAT PAUSE AND THEN I TOLD HALF THE STORY AND NOT THE OTHER HALF. UM, SO FOR US, I, I WILL NEED TO WORK WITH THE TEAM TO SEE WHEN WE PUBLISH THE OUTPUT OF THAT, IS THAT JUST PRICES OR IS THAT PRICES COMMITMENTS OR WHAT QUEASY SPECIFIC AWARDS FOR SEPTEMBER 6TH, 2023. WHO WOULD'VE, THE FUNNY PART IS WE DON'T ACTUALLY HAVE AS OFFERS IN REAL TIME FOR THAT DAY EITHER. SO WE'LL BE LOOKING, LOOKING AT WHAT PROXIES LOOK LIKE. SO I, I [01:05:01] DON'T KNOW WHAT THE OUTPUT OF OUR INTERNAL STUDY WILL BE TO PUT OUT INTO THE THING. DEFINITELY IT'LL SHOW PRICE FORMATION. THAT'S, THAT'S KEY. I DON'T KNOW WHAT GOES BEYOND THAT. SO AGAIN, WE'LL LOOK INTO THAT MORE. UM, THE OTHER ONE IS, WE DO HAVE THIS, UM, ON THE HOMEPAGE FOR THE R-T-C-B-T-F IS THIS LITTLE FIVE, UH, FIVE GEN SYSTEM THAT YOU CAN LOAD IN NUMBERS AND AS DEMAND CURVES AND DO A WHAT IF THAT WILL GIVE YOU ACCURATE PRICE FORMATION. SO FOR THESE OFFERS, THESE CONSTRAINTS, THESE DEMAND CURVES, HIT THE MACRO, RUNS THE SOLVER AND PUBLISHES THOSE RESULTS. SO THAT DOES THE PIECE, BUT AN ERCOT SYSTEM WIDE SOLUTION, YOU'LL BE LOOKING TO OUR SIMULATION. SO I CAN'T COMMIT TO WHAT'S COMING OUT OF THAT IN PUBLISHING FOR YOU GUYS YET. YEAH, UM, IT, IT'S, IT WOULD BE VERY, UH, IT USEFUL FOR PEOPLE TO, UH, SEE THE OTHER DATA AS WELL, NOT JUST THE RESULTS. SO MAYBE YOU MAY NOT BE ABLE TO GIVE ALL THE DATA, BUT UM, AFTER THE RESULTS ARE PRESENTED AT UM, RTC, MAYBE SELECT FEW HOURS OR SOMETHING TO, FOR THE MARKET PARTICIPANTS TO SEE AND MAYBE USING THE DAM AS OFFERS WOULD BE A GOOD STARTING POINT. RIGHT. UM, AND AS UH, NED POINTED OUT, IT IS VERY CRITICAL FOR, UM, US TO SEE THE IMPACT OF THE DIFFERENT A SDC. UH, SO WE COULD PROBABLY SELECT A FEW HOURS AND, UH, DO WHAT IF SCENARIOS, BASING THE BIG, UH, THINGS BECAUSE THAT WILL HAVE A SIGNIFICANT IMPACT ON OUR COURT OPERATIONS AND THE MARKET PRICING. GOOD. UM, WHAT I'M TAKING BACK IS KIND OF A GOOD NEWS, BAD NEWS. GOOD NEWS IS WE'RE GONNA GIVE YOU SOMETHING, BUT THEN AS SOON AS YOU SEE IT, YOU'RE GONNA WANT MORE BEHIND IT. 'CAUSE YOU GUYS NEED TO DO YOUR OWN ANALYSIS. SO THANKS FOR THE HEADS UP. ALRIGHT. YEAH. IT MAY NOT, WE MAY NOT, YOU NEED TO SEE THE UNDERLYING DATA TO UNDERSTAND THE RESULTS. MAKES SENSE. OTHER QUESTIONS? ALRIGHT. OKAY, GOOD NEWS. SLIDE GREEN. UM, SO WE RELEASED AN ATTESTATION, UM, AT THE END OF JULY. IT SAID, DEAR QUEASY WITH RESOURCES, WHO IS GONNA BE THE RESPONSIBLE EXECUTIVE FOR, OR THE ACCOUNTABLE EXECUTIVE FOR THE REAL TIME OPTIMIZATION PROGRAM. EVEN AT ERCOT, IT WAS HARD TO FIGURE OUT WHO'S THE VP THAT'S KIND OF IN CHARGE. IS IT THE IT GUY, THE BUSINESS GUY, THIS KIND OF THING. SO IT'S THE WHO'S THE ACCOUNTABLE EXECUTIVE. UM, ARE YOU AWARE THAT ERCOT HAS PUBLISHED EVERYTHING YOU AND YOUR VENDORS NEED, WHICH IS THE INTERFACE DOCUMENTS TO BEGIN YOUR DEVELOPMENT? AND ARE YOU AWARE THAT MARKET TRIALS MAY BEGIN AS EARLY AS MAY OF 2025? SO IT'S KIND OF A RINGING IN THE BELL, SENT IT OUT, CAME BACK AND SO WE'RE NOW, I WOULD CALL IT A HUNDRED PERCENT COMPLETE. AND TO EXPLAIN THE YELLOW, FIVE OF THE YELLOWS ARE FOR QUAS THAT ARE QUALIFIED TO HAVE RESOURCES BUT DON'T HAVE RESOURCES YET. SO THEY CAN'T REALLY ATTEST TO PARTICIPATE IN MARKET TRIALS BECAUSE YOU DON'T HAVE A RESOURCE. THOSE ARE GUYS THAT WE'RE JUST GONNA KEEP AN EYE ON AND AS THEY DO GET RESOURCES, THEY'LL HAVE TO KIND OF CATCH UP WITH EVERYBODY ELSE. UH, AND THEN LCRA, THERE IS SOME, UH, DISCOMFORT OF BEING ABLE, WHILE THEY'LL SUPPORT THE IMPLEMENTATION, THEY WEREN'T NECESSARILY BINDING THEMSELVES TO, IF THE MARKET TRIAL STARTED AS SOON AS AGE 2025, THEY'VE BEEN VERY ENGAGED. I'M NOT WORRIED ABOUT THIS. THIS IS MORE OF A FEEDBACK LOOP TO SAY, IS EVERYBODY ON BOARD? WHAT WOULD'VE BEEN BAD IS TO COME BACK AND SAY, 20 QUEASY HAD NO IDEA THAT RTC IS EVEN BEING IMPLEMENTED. SO THAT'S, THIS IS GOOD. MY, MY VIEW POSITIVE GUY. OKAY. SO IN TERMS OF THE NEXT MEETING IN SEPTEMBER HERE, I, I PUT IN RED AND I STARTED DOING OTHER THINGS IN RED, BUT THIS ONE'S A BIG ONE. SO IT'S THE FIRST REVIEW OF PARAMETERS FOR AS PROXY OFFERS. IF YOU DON'T COMPLETE AN ENERGY OFFER CURVE IN REAL TIME TODAY, ERCOT COMPLETES THE CURVE FOR YOU PER PROTOCOLS KIND OF ADDS A PENNY, GOES UP TO A, UM, THE CAP. SO WE HAVE TO DO THE SAME THING FOR AS OFFER CURVES. IF IT'S NOT COMPLETE, HOW DOES ERCOT COMPLETE IT OR IF IT'S NOT THERE, A LOT OF LOGIC WAS WORKED OUT WITH THE TASK FORCE. WE WANT TO CIRCLE BACK TO THAT AND THOSE BECOME TAC APPROVED PROXY OFFERS IS HOW THEY'RE MEMORIALIZED IN PROTOCOL. SO THIS WILL BE KIND OF A TASK FORCE TAC APPROVAL TO DEFINE THOSE. UH, AGAIN, WE'LL REVIEW THE CLARIFYING REVISIONS, WE'LL TALK ABOUT THE SIMULATOR AND OR A DATE FOR REVIEWING SIMULATOR RESULTS. THE REVIEW, THE MARKET READINESS, UH, THE TRIALS PLAN, SPECIFICALLY THE CLOSED LOOP LFC TESTING, UM, AND THEN A PLACEHOLDER FOR THE AS DEMAND CURVES. AND THEN THE, AGAIN, THE APPROACH TO TRAINING AND READINESS. THIS IS WHAT BILL BARNES HIT ON. I'M GONNA BRING FORWARD WHAT I THINK IS AN OUTLINE OF THE TABLE OF CONTENTS OF WHAT THOSE TRAINING, UM, THINGS LOOK LIKE. UM, SO I WILL SAY, LEMME PAUSE FOR ONE MORE THING BEFORE I TAKE YOUR QUESTION. UM, SO THIS IS THE TASK FORCE AT THE BOARD MEETING, UH, KEITH WAS ABLE TO PRESENT SOME, UM, OTHER CONVERSATIONS OCCURRING, WHICH IS ON THE AS DEMAND [01:10:01] CURVES. AND SO THERE'S THE, UH, THE INDEPENDENT MARKET MONITOR HAS HAD SOME THOUGHTS ON, UH, REALTIME CO OPTIMIZATION. THERE'S BEEN SOME DISCUSSIONS. AND SO, UM, KEITH DID PRESENT TO THE BOARD THAT THERE WAS KIND OF TWO ISSUES IDENTIFIED. ONE WAS WITH REGARDS TO AS SUBSTITUTION WITHIN REALTIME CO OPTIMIZATION, WHETHER THAT SHOULD BE CONTEMPLATED. THE OTHER ONE IS, IS IF THE AS DEMAND CURVE SHOULD HAVE A RAMP IN, UH, TYPE ELEMENT TO IT, UM, THOSE AS DEMAND CURVES RIGHT NOW ARE MEMORIALIZED IN PROTOCOLS AS A STRAIGHT CUT OF EACH OF THE FOUR ASS UNDER THE ORDC CURVE AND IT'S FLAT. UM, AND THEN T HAD WEIGHED IN WHEN ERCOT HAD BROUGHT FORWARD THE INITIAL VIEW, WHICH WAS TO INTERMINGLE THOSE TO HAVE KIND OF A RAMP IN FROM THE POWER BALANCE PENALTY TYPE FUNCTIONALITY TO BUILD A RAMP IN. SO TAC HAD MADE A DECISION, IT'S IN PROTOCOLS AND APPROVED AND, UH, THE INDEPENDENT MARKET MONITOR IS BRINGING UP. IS THAT STILL THE BEST THING? AND SO THAT'S SOMETHING THAT ERCOT IS, UM, LISTENING TO AND JUST WANTED TO MAKE AWARE OF. THAT'S ANOTHER MOVING PART, UH, WITHIN THIS. SO IF THERE ARE ANY QUESTIONS ON THAT, WE'D BE HAPPY TO TAKE 'EM. I THINK WE HAD NED AND ERIC. YEP. PLEASE, NED. THANKS MATT. UM, SO I HAD A COMMENT AND THEN A QUESTION ON WHAT YOU WERE JUST MENTIONING. UM, BUT FIRST CAN WE GO BACK TO THE PRIOR SLIDE? UM, SO CERTAINLY GOOD TO SEE A LOT OF GREEN, I ALWAYS LIKE SEEING GREEN NEXT TO, NEXT TO LUMINA'S NAME. THAT'S ALWAYS, UH, THAT'S ALWAYS A NICE POSITIVE, UH, YOU KNOW, PSYCHOLOGICAL REINFORCEMENT. BUT I DID WANT TO, TO ASK, YOU KNOW, L CLARA'S RESPONSE YOU HAVE, UH, IS, IS YELLOW. AND I THINK THE THE RATIONALE THEY GIVE IS, IS TOTALLY, UH, UNDERSTANDABLE. AND I KNOW WHEN WE SENT OUR, UH, OUR ATTESTATION IN, YOU KNOW, WE HAD A SIMILAR CAVEAT. WE DIDN'T MODIFY THE FORM, BUT ALSO SAID, LOOK, WE CAN'T COMMIT TO THE, TO THE TIMELINE, BUT WE'RE WORKING ON IT. WE'RE AWARE OF IT. YES. YOU KNOW, WE'RE, WE'RE WITH YOU IN IN THAT PROCESS. UM, SO I WANTED TO UNDERSTAND WERE THERE OTHERS IN THE, IN THE SEA OF GREEN THAT ALSO HAD COMMUNICATED THAT, UH, THAT SIMILAR SENTIMENT. I'VE HAD HALLWAY CONVERSATIONS. I DON'T KNOW THAT OTHER PEOPLE PREFACE THEIR ATTESTATIONS COMING IN. I'D HAVE TO, I HAVE NOT PERSONALLY GONE THROUGH ALL 106 AND, AND VETTED THOSE. UM, BUT I WILL SAY THAT GENERALLY SPEAKING, THAT THAT IS A, IS A, WE USED, WE DID LET, JUST LET WORDS IN THE ATTESTATION ITSELF. WE DID NOT USE THE WORD COMMIT. RIGHT? THE QUEASY ACKNOWLEDGED THAT THAT WAS THE GOAL DATE FOR MARKET TRIALS WAS IN MAY. SO PURPOSE OF THAT WORDS ARE THERE SO THAT PEOPLE COULD STILL SIGN AND NOT KNOW THAT IT'S FINDING WE ARE EAGERLY LISTENING FOR QUEASY ISSUES AND VENDOR ISSUES AND WE HAVE TWG TOMORROW AND MAYBE THAT'LL START TO COME UP. UM, RIGHT NOW VENDORS ARE ENGAGED, THEY ARE ASKING US QUESTIONS, WE'RE HAVING ONE-ON MEETINGS IS REQUESTED TO SUPPORT THEM AND ANY IT SHOPS FOR QUEASY TO KEEP THINGS GOING. SO AT THIS POINT, NO ONE HAS THROWN DOWN AND SAID, THIS IS MISSION IMPOSSIBLE. RIGHT. WE CAN'T DO IT. YEAH. BUT ERCOT IS NOT LOOKING AT THIS AS AN EASY PATH, BUT IT WAS, OKAY, NOW WE'RE ALL ENGAGED AND NOW WHAT DOES IT LOOK LIKE TO KEEP MOVING FORWARD? GOT IT. OKAY. AND THAT, THAT ALL MAKES PERFECT SENSE. I JUST WANTED, I WANTED TO ASK, SINCE WE, WE HAD GOTTEN GREEN AND THEY'D GOTTEN YELLOW, AND I DON'T WANNA PUT US IN YELLOW, BUT, UM, WELL, YOU KNOW, UH, FIGURED IT WAS JUST GOOD TO TO TO AIR IT OUT AND, AND HAVE THE DISCUSSION. UM, SO THE, THE, THE OTHER QUESTION, OR THE OTHER COMMENT I HAD WAS ON WHAT YOU WERE JUST TALKING ABOUT, UM, REGARDING THE ANCILLARY SERVICE DEMAND CURVES AND, UM, THE TAC APPROVED STRUCTURE VERSUS THE, THE, THE CONCEPT THAT THE IMM HAS RAISED. UM, SO TEXAS COMPETITIVE POWER ADVOCATES HAD BROUGHT A SIMILAR, UH, PROPOSAL, I THINK BACK IN FEBRUARY OR MARCH MM-HMM. , UM, TO, YOU KNOW, REVISIT HOW THE, THE, YOU KNOW, THE CURVES ARE CUT UP EFFECTIVELY. AND THE FEEDBACK WE GOT AT THE TIME WAS THAT THE, THE WINDOW WAS A WAS EFFECTIVELY CLOSED TO MAKE THOSE KINDS OF CHANGES. THAT'S A SYSTEM CHANGE. AND THAT'S YES, YOU KNOW, IT, THAT WOULD POTENTIALLY DELAY THE PROCESS, DELAY THE, THE, THE PROGRAM AND, YOU KNOW, IF THERE WERE THE, THE CHANGES THAT COULD BE MADE WERE MORE ON THE AGGREGATE SHAPE, NOT, NOT THE LOGIC FOR HOW YOU, HOW YOU DICE UP THE, THE CURVES, BUT THE DISCUSSION AT THE BOARD THAT I HEARD WAS THAT THERE MAY BE STILL AN OPEN WINDOW TO, TO MAKE THOSE CHANGES. AND SO I WANTED TO, TO JUST ASK, TO TRY TO RECONCILE THOSE TWO POINTS OF FEEDBACK. SO THIS IS KEITH COLLINS HERE. UM, I THINK I'LL, I'LL POINT TO, THERE WAS AN EXCHANGE IN THE DIALOGUE BETWEEN MYSELF AND, UM, COMMISSIONER KOBOS WHO HAD RAISED A SORT OF SIMILAR QUESTION IN TERMS OF, HEY, YOU KNOW, THINGS HAVE CHANGED. THE, THE, THE WORLD IS DIFFERENT. THIS WAS APPROVED SEVERAL YEARS AGO. SHOULD WE, SHOULDN'T WE REALLY CONSIDER SOMETHING, YOU KNOW, MORE HOLISTIC? AND, YOU KNOW, MY RESPONSE AT THE TIME WAS, IS ABSOLUTELY, I THINK PART OF THE REASON WHY [01:15:02] I THINK OUR, OUR POSITION IS AS IT IS, IS IS THAT WE HAD BEEN LISTENING AND, AND HEARING FROM NOT JUST THE IMM, UH, BUT OTHERS AS WELL, THAT, HEY, WAIT A SECOND, IF, IF WE DO HAVE A WINDOW OF OPPORTUNITY, IT, IT'S KIND OF NOW TO THINK ABOUT THIS. UM, I I THINK THAT THERE WILL BE, YOU KNOW, UH, AN END AND, AND I THINK THAT THE EXTENT THAT WE CAN, UM, THINK THROUGH WHAT THAT MAY BE AND AND INCLUDE OBVIOUSLY THE IMM AND, AND THEIR CONCERNS AND AND YOUR CONCERNS, I THINK THAT THAT MAKES, MAKES A LOT OF SENSE TO, HEY, LET'S HAVE THAT DISCUSSION, LET'S DO IT NOW SO THAT WE KEEP THE PROJECT ON TRACK. I THINK THAT'S REALLY OUR END END IS TO ENSURE THAT WE HAVE A SUCCESSFUL LAUNCH, UM, ON TIME, ON SCHEDULE, UNDER BUDGET, AND, UM, YOU KNOW, MINIMIZE ANY, ANY WAY THAT COULD, UH, DERAIL THAT PROCESS. AND SO IF WE HAVE AN OPPORTUNITY TO CONSIDER STAKEHOLDER CONCERNS IMM CONCERNS AND MOVE THAT FORWARD, WE'RE HAPPY TO DO THAT. SO THAT'S REALLY WHAT WE WANT TO DO. AND I THINK THAT'S CONSISTENT WITH THE DIALOGUE THAT WE HAD WITH COMMISSIONER KOBOS. THANKS. OKAY. THANK YOU KEITH. AND, UH, THANK YOU MATT. SO IT SOUNDS LIKE, UH, WE MAY, WE MAY BRING THAT ALSO TO THE, UH, SEPTEMBER MEETING AND, AND INCLUDE THAT IN THE DIALOGUE AS WELL. OKAY. YEAH. AND, AND I WILL SAY KIND OF THE POSTURE THAT WE'RE IN, WE'RE DOING, WE'RE DOING THE WHAT IF ANALYSIS. SO NUMBER ONE, THANK YOU MARKET FOR NOT TAKING RTC AND TRYING TO REWRITE A BASELINE TO, AND GETTING READY TO GO LIVE. SO THIS IS REALLY THE ONLY ELEMENT THAT IS KIND OF OUTSTANDING. AND WHAT WE'VE DONE AS A PROGRAM IS TO LOCALIZE IT AND SAY, YOU KNOW, IF WE POSSIBLY HAVE A DECISION BY THE END OF THE YEAR, WE COULD GO AHEAD AND DEVELOP WHAT WE'RE ALREADY DEVELOPING AND THEN DO A REFACTORING IN APRIL OF 2025 TO CARVE OUT THOSE PEOPLE IN THAT TIME TO REBUILD WHATEVER WAS ASKED FOR. BUT IT DOESN'T IMPACT THE VENDOR, IT DOESN'T IMPACT ANYTHING ELSE. IT IS LITERALLY A CURVE, YOU KNOW, ELEMENT TYPE PROGRAM. SO WE'VE IDENTIFIED THOSE PEOPLE AND THAT'S WHAT'S MAKING ROOM FOR THIS RIGHT NOW. GOT IT. OKAY. I, I APPRECIATE THAT ADDITIONAL CONTEXT. THANK YOU. BET. ERIC, DID YOU SAY TAC APPROVED ANCILLARY SERVICE DEMAND CURVES? NO. DID I SAY THAT? I SO PRO, SO TAC APPROVED AS PROXY OFFER CURVE PARAMETERS FOR AS PROXY OFFER CURVES. OKAY. YEAH. SO LEMME BE VERY CAREFUL. WHAT, THERE'S TWO THINGS AS PROXY OFFER CURVES ARE IF THE CURVE IS NOT COMPLETED BY THE QUEASY, HOW DO WE COMPLETE THE CURVE AS DEMAND CURVES ARE, WE'RE IN A SCARCITY SITUATION. HOW DO WE, WHEN WE RUN OUTTA THE FIRST MEGAWATT, WHAT'S THE PRICE ON THAT DEMAND CURVE FOR THE MISSING MEGAWATT? AND THAT'S AN AGGREGATE FOR THE ENTIRE ERCOT SYSTEM. OKAY. AND THAT WAS SET BY THE COMMISSION IN A 2019 MEMO FROM CHAIRMAN WALKER THAT ACKNOWLEDGED AND HELPED PROVIDE DIRECTION TO ERCOT ON A NUMBER OF RTC ISSUES. AND THAT ONE SAID THAT AS DEMAND CURVE SHOULD REFLECT THE ORDC UM, PRICING SITUATION. HOPE THAT HELPS. THAT'S A VERY THOROUGH ANSWER. I THINK THAT HELPS EVERYONE. YES. AND I THINK I WILL FOR THE NEXT RTCB TASK FORCE, HAVE A ONE PAGER THAT EXPLAINS THE HISTORY AND WHERE WE'VE BEEN AND WHERE WE'RE HEADED. AND THAT WAY EVERYONE CAN TALK TO THE SAME THING. I REALIZE IT'S ALL FLOATING AROUND. JUST GET IT IN A COUPLE SLIDES IN A PIECE OF PAPER TO HELP EVERYBODY. ALRIGHT. AND THAT'S THE END OF MY PRESENTATION UNLESS THERE ARE ANY QUESTIONS PR BRIAN? OH, BRIAN, I, I JUST, MATT, I, I THINK THAT'S A REALLY IMPORTANT DISCUSSION TO HAVE ABOUT THE HISTORY OF THE, THE, OF THAT 2019 MEMO, HOW WE'VE EVOLVED SINCE THEN, WHAT OPERATIONAL PREFERENCES MIGHT LOOK LIKE, JUST TO BE SUPER TRANSPARENT. UH, AND I REALLY LOOK FORWARD TO THAT DISCUSSION. YEAH, AND I MEAN THE, THE FAVOR FROM THE PROGRAM IS TO RESOLVE QUICKLY. SO THIS MAY BE, THIS MAY BE HARD, BUT IT MAY BE SOMETHING TO RESOLVE AS QUICKLY AS POSSIBLE. OKAY. THANK YOU. OH, MOND, GO AHEAD. UH, LAST QUESTION. YES. THE, AS PROXY IS SAID, TAC APPROVED ONE, IS IT POSTED ANYWHERE RIGHT NOW? IS IT, WHAT? IS IT POSTED ANYWHERE? UM, THE, YOU SAID THERE'S ALREADY A APPROVED AS PROXY ? NO, IT WAS FOR THE CURRENT MARKET. SO THE ENERGY OFFER CURVE EXTENSION LOGIC IS IN PROTOCOLS FOR ENERGY. YEAH. IN THE RTC PROTOCOLS, IT SAYS THERE WILL BE ATTACK APPROVED VALUES FOR THOSE AS PROXY OFFERS. AND WE'RE GONNA BRING THE, OH, THERE IS NO ATTACK APPROVAL VALUE? THERE IS NO ATTACK APPROVAL ANYTHING YET. CORRECT. IT'S A BLANK. OKAY. OKAY. YES, THAT'S WHAT I DUNNO, BUT OKAY, THANKS. ALRIGHT, THANKS. ANY OTHER QUESTIONS? SO WHAT, WHAT ARE NEXT STEPS ON THE, COULD WE GET CLEAR ON THE PARAMETERS AROUND WHAT WE ARE ABLE TO STILL HAVE UP FOR DISCUSSION AND WHAT THE APPROVAL PROCESS IS ON THAT? OR, OR WILL THAT BE AT THE RTC PLUS B MEETING? THE [01:20:01] TASK FORCE IS HANDLING EVERYTHING ON A TIMELINE, BUT FOR THIS AS DEMAND CURVE ISSUE, ISSUE 18, WHICH HAS POLICIES ATTACHED TO IT, IMM OPINIONS ATTACHED TO IT, THAT IS SOMETHING THAT THE TASK FORCE CAN'T RESOLVE EFFECTIVELY. THAT IS, BUT OUR, THE TASK FORCE CAN DISCUSS AND BE A FORUM FOR DISCUSSING WHAT THAT LOOKS LIKE. BUT WE HAVE APPROVED PROTOCOLS WHAT TO BUILD AND ROLL OUT. AND ULTIMATELY THIS IS IMPORTANT TO SAY, CHANGING THE AS DEMAND CURVES WILL RESULT IN AN NPRR. AND THAT HAS TO OCCUR BECAUSE THAT PROTOCOLS RIGHT NOW SAY IT'S SHAPED LIKE THIS. AND IF WE WANNA SHAPE IT ANY DIFFERENTLY, IT HAS TO BE IN PROTOCOL. SO THERE WILL HAVE TO BE AN, THE GOAL IS TO HAVE A TECHNICAL DECISION OR A POLICY CUT BY THE END OF THE YEAR. SO THEN WE HAVE THE NPR AND THE DESIGN ON JANUARY ONE TO START TO BUILD TO AND APPROVE TO. OKAY. AND SO THAT WOULD HAPPEN AT THE RTC PLUS B MEETING, BUT SOMEBODY WOULD HAVE TO FILE A NPR? WELL, I WOULD WAIT FOR, I'M SORRY. YES, ANYONE CAN FILE AN NPR ANYTIME ALL THE TIME. OKAY. AND ARE THERE PARAMETERS AROUND THAT, TO NED'S POINT, ARE, ARE WE CLEAR ON WHAT CAN BE CHANGED? LIKE IS, ARE SOME PEOPLE'S PROPOSALS GONNA BE TOLD WE, WE CAN'T REOPEN THIS? OR ARE WE CLEAR ON WHAT THE PARAMETERS ARE AROUND WHAT IS STILL ABLE TO BE CHANGED BY THOSE PEOPLE YOU IDENTIFIED? I, I'LL PUT THAT IN THE ONE PAGER TO EXPLAIN. OKAY. SO THE IDEA IS A SINGLE STATIC CURVE, WHICH WE CALL ORDC RIGHT NOW. AND THEN THE SLICING OF THE AS DEMAND CURVES UNDER THAT, THOSE MECHANICS CAN'T CHANGE. SO WE CAN, I'LL EXPLAIN IT BETTER AT NEXT TAC. OKAY. YEAH, MAYBE WE COULD HAVE THAT COME BACK TO TAC AND THEN, SO THAT WOULD TAKE AN NPRR TO CHANGE. SO THE APPROVAL PROCESS WOULD JUST BE LIKE ANY OTHER NPRR? YES. YES. OKAY. OKAY. SO YEAH, LET'S, LET'S GO THROUGH THAT AT THE NEXT T. ANY OTHER QUESTIONS OR COMMENTS? ALL RIGHT, THANKS MATT. THANK YOU. [11. Credit Finance Sub Group Report (Part 2 of 2)] BRENDAN, CAN WE GO BACK TO YOU FOR THE CREDIT FINANCE SUBGROUP? YEAH, CAN YOU HEAR ME OKAY? WE CAN. AWESOME. UH, ALRIGHT, UH, LET'S SEE IF YOU PULL MINE UP AND GO TO SLIDE FOUR. I THINK THAT'S WHERE WE LEFT OFF. THERE WE GO. SO, UM, YEAH, SO JUST KIND OF WANTED THE HIGH LEVEL OF THE WAY THE SYSTEM CURRENTLY WORKS IS THERE'S A, A REALTIME COMPONENT THAT LOOKS BACK ABOUT 40 DAY, 40 DAYS EXACTLY FOR THROUGH YOUR, UM, THROUGH THE REALTIME, UH, LIABILITY. BASICALLY YOUR REALTIME INVOICES FOR 40 DAYS. UH, THAT IS, UH, MULTIPLIED BY THE REALTIME FORWARD ADJUSTMENT FACTOR, WHICH IS A RATIO OF NEAR TERM, UH, FORWARDS OVER NEAR TERM SETTLEMENTS. UH, AND THAT'S THE KEY DRIVER THERE. UH, ANOTHER COMPONENT IS THE, UH, DAY AHEAD LIABILITY EXTRAPOLATED, MULTIPLIED BY A, UH, DAY AHEAD, UH, UM, FORWARDS VERSUS SETTLED. AND THEN, UH, A BUNCH OF, UM, BUILD AND UNBUILD ACTIVITY, UM, STUFF RELATED TO TRADERS ONLY. UM, AND JUST THOSE EXPOSURES. BUT THE MAIN ONE AGAIN IS, UH, THE FORWARD, UH, THE FORWARD ADJUSTMENT FACTORS TIMES THE 40 DAY REALTIME INVOICE SYSTEM. UH, SO AS OF NOW, THE REAL TIME AND DAY AHEAD INVOICES ARE NOT NETTED AND, UH, WE EXPLORED DOING THE IMPLICATIONS OF DOING THAT. AND, UH, I THINK THAT'S IT. OKAY. NEXT SLIDE PLEASE. SO ERCOT CREDIT TEAM REPORTED THEY LOOKED AT, UH, REPORTED THEY'RE NEARING THE FINISH LINE. THEY'VE BEEN LOOKING AT, UH, OH, PROBABLY AT LEAST SIX DIFFERENT SCENARIOS, UM, THAT, UH, WILL IMPACT, UH, CH CHANGING THE, THE, THE FORM IN VARIOUS WAYS. AND BASICALLY WE'RE LOOKING AT MOST IMPORTANTLY, UH, UNDER COLLATERALIZATION, WHICH, YOU KNOW, HAVE DEFAULT IMPACTS. AND THEN THE ISSUES OF OVER COLLATERALIZATION, WHICH REPRESENT COST TO THE MARKET, UM, OR UNNECESSARY COSTS TO THE MARKET. SO THE GOAL OF THIS IS TO, UM, REDUCE BOTH OF THOSE, UH, AS WELL AS VOLATILITY, UM, AND, YOU KNOW, SUDDEN LIQUIDITY JUMPS OR, UH, THE WAY THE FORMULA WORKS NOW THAT THERE ARE OCCASIONS WHEN, YOU KNOW, YOU GET A HUGE, UM, RISE IN YOUR, UH, COLLATERAL REQUIREMENTS THAT DOESN'T NECESSARILY, UM, TRACK WITH YOUR, UH, UH, YOUR OBLIGATIONS. UH, SO WE'RE LOOKING AT THAT. THE OTHER THING YOU'RE LOOKING AT, UM, IS SHORTENING THAT 40 DAY LOOK BACK AND, UH, PUTTING CAPS AND FLOORS ON THE FORWARD ADJUSTMENT FACTORS. UH, SO THOSE ARE EASY WINS. UM, BUT, UH, THE, THE OVERALL MEASURE, PARTICULARLY AROUND NETTING, UH, REALTIME AND DAY AHEAD IS KIND OF A FUNDAMENTAL REWRITE OF THE SYSTEM. AND THERE HAS BEEN NO IA DETERMINED ON THAT. SO, UH, I THINK TO CONCLUDE, [01:25:01] I THINK THERE'S SOME, SOME EASIER THINGS THEY COULD DO, WHICH COULD BE IMPLEMENTED QUICKLY. AND THEN, UH, NETTING THOSE REAL TIME AND DAY AHEAD WOULD BE, UH, WOULD BE QUITE A LIFT. UM, I'M NOT CLEAR, I GUESS THEY WANT TO DO IT ALL AT ONCE, YOU KNOW, WE'LL CERTAINLY FOLLOW ER COTS UH, GUIDANCE ON THIS. UM, BUT I'M CURIOUS IF MAYBE THE SMALLER, MORE EASY THINGS COULD BE, COULD BE DONE EARLY AND WE'LL TALK ABOUT THAT NEXT TIME ANYWAY. NEXT SLIDE PLEASE. SO, YEAH, HERE, JUST, UH, YOU KNOW, I MENTIONED THE, THE CAPS AND FLOORS AND I THINK THAT WAS, UH, 1.0 TO 1.5. SO YOU CAN SEE I'VE SHOWN THIS BEFORE, BUT ERCOT PROVIDED ME WITH DATA FROM FEBRUARY 7TH, 2018 TO, UH, UH, APRIL, 2024. THERE WERE 2,254 OBLIGATIONS. SO YOU CAN KIND OF SEE HOW THE DISTRIBUTION WORKED IN THIS, UH, PRETTY MUCH, YOU KNOW, EVERYTHING FALLS BETWEEN SAY, UM, 0.5 AND ONE. I MEAN, HERE'S THE PERCENTILES, LIKE THE 97 PERCENTILE IS 5.8. SO, UH, IT, IT REALLY DOES MAKE SENSE TO, UM, PUT CAPS AND FLOORS, UM, TO FILTER OUT SOME OF THESE EXTREME CASES. AND THEN WHEN IT GOES BELOW ONE, YOU, YOU'RE IN A CASE WHERE YOUR ACTUALLY, UH, INVOICE HISTORY IS BEING DISCOUNTED. THAT IS BY DESIGN TO, UM, TAKING INTO ACCOUNT THE, THE, THE LAGGING, UH, 40 DAY LOOK BACK AGAINST THE INVOICES. SO THEY'RE, THEY'RE JUST TRYING TO MAKE US A LITTLE MORE DYNAMIC AND, UH, UM, REFLECT WHAT THE ACTUAL REAL TIME OBLIGATIONS ARE. UH, NEXT SLIDE PLEASE. UH, WE LOOKED AT THREE NPRS, AND I WON'T GO INTO THEM IN DETAIL, BUT THEY WERE ALL, UH, CONSIDERED OPERATIONAL AND, UH, NOT BELIEVED THAT IT REQUIRED CHANGES TO CREDIT MONITORING ACTIVITY OR CALCULATION OF LIABILITY. NEXT SLIDE, PLEASE. SO HERE'S THE REGULAR MONTHLY HIGHLIGHTS, UH, FROM JUNE TO JULY. UH, THE TPE, WHICH IS THE EXPOSURE THAT DRIVES COLLATERAL, UH, REQUIREMENTS, UH, DECREASED FROM 2.18 BILLION TO 1.81. THIS WAS MOSTLY DUE TO LOWER FORWARD ADJUSTMENT FACTORS. UH, WE'LL LOOK AT DISCRETIONARY COLLATERAL SHORTLY, UH, WHICH DECREASED FROM 4.23 BILLION TO 4.15 WITH NO UNUSUAL COLLATERAL CALLS. NEXT SLIDE, PLEASE. UH, AND HERE WE'RE LOOKING AT SORT OF THE ALLOCATION OF, UM, OF, UH, CREDIT INSTRUMENTS, UH, GIVEN TO ERCOT. YOU CAN SEE MOST OF IT'S LETTER OF CREDIT FOLLOWED BY CASH WITH A FEW SURETY BONDS AND HOW THAT HAS CHANGED MONTH TO MONTH, YEAR TO DATE, JUNE, 2024 WITH, UM, THE CALCULATION OF, UH, EXPOSURE. UM, NEXT SLIDE PLEASE. SO JUST LOOKING AT DISCRETIONARY COLLATERAL FROM JUNE, JULY, 2024, AND AGAIN, THIS IS, SO MARKET PARTICIPANTS DO HAVE TO POST ABOVE THEIR, UH, ABOVE THEIR EXPOSURE TO GET ACCESS TO THE DAY AHEAD MARKET. SO THIS IS NOT EXCESS COLLATERAL, BUT IT DISCRETIONARY COLLATERAL. HOWEVER, THE REASON WE'RE LOOKING AT, UM, CHANGING THE CALCULATIONS IS, YOU KNOW, THERE ARE, THERE ARE POTENTIALLY BILLIONS OF DOLLARS OF, UH, OVER COLLATERALIZATION IN THE MARKET. AND, UH, YOU KNOW, THIS IS A BIG PRIORITY TO MAKE SURE THAT WE'RE, WE DON'T HAVE TOO LITTLE AND WE DON'T HAVE TOO MUCH. UH, NEXT SLIDE, PLEASE. UH, SO I'D MENTIONED A FEW TIMES WITH THE, UM, IN THE PAST ERCOT HAS, YOU KNOW, WAS RUNNING AGAINST SOME PROBLEMS WITH THEIR, UH, CREDIT LI, UM, ISSUER CREDIT LIMITS FOR LETTERS OF CREDIT. WE WERE MONITORING THE SITUATION. THOSE WERE WIDELY EXPANDED, AND THOSE CHANGES RESULTED IN ONLY, UM, TWO ISSUERS BEING IN THE KIND OF THE WARNING CATEGORY WHEN BEFORE I THINK THERE WAS AS MANY AS, UH, YOU KNOW, UM, EXCEEDANCES OF EIGHT OR NINE. SO THAT'S, THAT'S ALL GOOD. UH, NEXT SLIDE PLEASE. C**S AND GOING. SO WE HAVE A NEW CFSG MEMBERSHIP, I BELIEVE HE IS ON THE COMBO BALLOT. UM, THAT'S MARK PRICE. WELCOME TO HIM. HE'S THE DIRECTOR OF MARKET AFFAIRS AT DC AND I AM RETIRING FROM THIS IMPORTANT ROLE. UH, I, UH, AM NOW THE MIDDLE OFFICE MANAGER AT AUSTIN ENERGY. I DO FEEL BAD, I NEVER CAME TO A TO A, UM, IN-PERSON MEETING, WHICH I'LL TRY TO DO BEFORE I GO. UM, I DO LIVE IN SOUTHWEST AUSTIN, SO REALLY HAVE NO EXCUSE. UM, BUT I DO HAVE A LOT TO DO IN MY NEW ROLE AND, UH, I'M, AND I'M HAPPY TO STAY ON AS VICE CHAIR. CAN WE, UH, NEXT SLIDE RENAME THIS TO BE THE MIDDLE OFFICE WORKING GROUP? ? WELL, THE, I GUESS THE TITLE IS RISK CONTROL PROGRAM MANAGER, BUT, UM, YOU KNOW, I, I DON'T KNOW. I FEEL LIKE MIDDLE OFFICE MANAGER IS MORE COMMUNICATIVE OF WHAT THE ROLE IS, BUT, UM, YEAH, IT'S BEEN GREAT WORKING WITH YOU GUYS, YOU KNOW, UM, AND GIRLS. SO WHAT'S, WHAT'S THE PLAN? YOU'RE, YOU'LL SWITCH TO VICE CHAIR? YEAH, THAT'S WHAT I [01:30:01] WANT TO DO. IJI JUST HAVE TOO MUCH TO DO TO, TO BE THE CHAIRMAN NEXT YEAR AND I'LL, I WILL CONTINUE THROUGH THE END OF THE YEAR, BUT, UM, CERTAINLY LOOKING FOR A, UH, A, UH, REPLACEMENT FOR NEXT YEAR. AND, UH, SO IF YOU KNOW ANYBODY, UM, YOU KNOW, IT'S, SO THIS IS, THIS IS A PRE-ANNOUNCEMENT. YOU'RE GONNA STAY TILL THE END OF THE YEAR, RIGHT? YES, YES. SORRY. AND IF THERE WERE COOKIES AND LAUGHTER IN PERSON, WOULD YOU JOIN US IN PERSON BEFORE THE END OF THE YEAR? YES, YES, I WILL COMMIT TO DOING THAT. CERTAINLY. IT'S, IT'S FIVE MILES AWAY FROM MY HOUSE, , I THINK. UM, OKAY. AND I THINK NEXT SLIDE. I BELIEVE THAT'S IT. SO ANY QUESTIONS? I GUESS, SO THANK YOU ALL VERY MUCH AGAIN. THANK YOU. AND, UM, WE DO HAVE TO VOTE ON THE ADDITION TO THE MEMBERSHIP OF CFSG. SO CAN WE ADD THAT TO THE COMBO BALLOT? OKAY. UM, WE ARE ON TO ERCOT REPORTS. [13. ERCOT Reports] SO WE HAVE THE ERCOT 2025 MEMBERSHIP APPLICATION AND AGREEMENT UPDATES. OKAY, THANK YOU. UM, CATHERINE GROSS WITH ERCOT LEGAL. UM, I'M HERE TO GO OVER THE 2025 MEMBERSHIP APPLICATION PROCESS, UM, AND ALSO SOME UPDATES FROM LAST YEAR. UM, THE APPLICATION PROCESS BEGINS ON SEPTEMBER, UH, 20TH THIS YEAR. AND THEN EVERYTHING NEEDS TO BE SUBMITTED BY NOVEMBER 20TH IN ORDER TO BE ELIGIBLE TO, UM, UH, VOTE IN TECH, UH, REPRESENTATIVE, UH, MEETINGS. UM, SO I THINK EVERYONE IS PROBABLY AWARE OF THIS, BUT LAST YEAR WE SWITCHED TO USING AN ONLINE, UM, PROCESS FOR DOING THE MEMBERSHIP APPLICATIONS. AND PRIOR TO THAT WE HAD BEEN GETTING EMAIL APPLICATIONS. AND SO THIS WAS THE FIRST YEAR, LAST YEAR WHERE WE TRIED THIS ONLINE PROCESS. UM, THERE WERE SOME KINKS TO WORK OUT. AND SO I'M GONNA GO OVER THOSE. AND THEN ALSO I'M GONNA GO OVER SOME THINGS TO BE AWARE OF FOR THIS YEAR. UM, ONE OF THE ISSUES LAST YEAR WAS THAT AFTER YOU SUBMITTED YOUR APPLICATION FORM, THERE WASN'T AN EASY WAY FOR YOU TO ACTUALLY SEE WHAT YOU HAD SUBMITTED. SO THIS YEAR, NOW, I, I'LL GO THROUGH IN SOME OF THE SLIDES, UM, HOW YOU CAN SEE AND ACTUALLY GET A P UM, PDF OF YOUR APPLICATION AFTERWARDS. UM, THERE WAS ALSO SOME CONFUSION LAST YEAR BECAUSE THERE WERE IN DIFFERENT SPOTS, LITTLE QUESTION MARK SYMBOL THAT YOU HAD TO CLICK ON TO GET MORE INFORMATION AND, UM, THAT CONFUSED PEOPLE. SO WE'VE DONE AWAY WITH THAT. UM, AND THEN FINALLY LAST YEAR THERE WAS A LOT OF CONFUSION ABOUT HOW TO PAY THE APPLICATION FEE AFTER YOU HAD SUBMITTED THE APPLICATION. SO WE'VE ALSO, UM, TRIED TO STREAMLINE THAT BY SENDING OUT AN AUTOMATED EMAIL WITH ALL THE DIRECTIONS AFTER YOU SUBMIT YOUR APPLICATION. UM, SO, UM, EVERYONE, WELL, THERE'LL BE FOR, UH, REPS OF CURRENT MARKET PARTICIPANTS. UM, THERE'LL BE EMAILS GOING OUT AND ALSO MARKET NOTICE WHEN THE PROCESS IS BEGINNING. AND SO THAT THOSE, UM, MATERIALS WILL TAKE YOU TO THE PORTAL NOW OR, OR SERVICENOW PORTAL WHERE YOU CAN, UM, FILL OUT YOUR APPLICATION FORM. THERE'S ALSO GONNA BE A LINK TO THE PUBLIC PORTAL ON OUR MEMBERSHIP PAGE. UM, IF YOU ALREADY HAVE EXISTING CREDENTIALS WITH SERVICENOW, YOU JUST LOG IN. IF YOU DON'T HAVE THOSE CREDENTIALS ALREADY, YOU'RE A NEW MEMBER, YOU JUST NEED TO REGISTER AND THEN MAKE SURE THAT YOU VERIFY YOUR EMAIL ADDRESS. UM, THIS LAST PART, AND I DON'T KNOW WHY IT'S NOT SHOWING ALL OF IT, IF I JUST GO DOWN. OKAY. UM, THIS LAST PART IS IMPORTANT AND NOT INTUITIVE, UM, BECAUSE OF A TECH TECHNICAL ISSUE, THE PERSON FILLING OUT THE APPLICATION FORM CANNOT BE, UM, THE AR OR BAR. SO THAT'S, I THINK, CONFUSING. AND WE'LL MAKE SURE THAT IN THE EMAILS THAT YOU GET WHEN THE PROCESS STARTS AND IN THE MARKET NOTICES, WE'LL MAKE SURE TO CLARIFY THAT. BUT AS I UNDERSTAND IT NOW, THERE'S A TECHNICAL ISSUE WITH, UM, ARS AND RS BEING THE ONES THAT ARE FILLING OUT THE APPLICATION FORM. AND IT HAS TO DO WITH, UM, MANY OF THOSE, UM, REPRESENTATIVES ARE ALREADY IN THE PUBLIC PORTAL, UM, FOR WEATHERIZATION INSPECTION [01:35:01] FEES. AND THERE'S AN ISSUE WITH BEING ABLE TO ALSO THEN USE THOSE SAME CREDENTIALS TO COME OVER HERE AND DO THE APPLICATION FEE, UM, OR APPLICATION PROCESS. I HOPE TO GET MORE CLARIFICATION ON THAT. AND SO WATCH FOR THOSE EMAILS AND MARKET NOTICES. SO THOSE THAT WILL FURTHER EXPLAIN THAT, BECAUSE THAT IS, UM, CONFUSING. I RECOGNIZE, UM, IF YOU FORGOT YOUR PASSWORD, HERE ARE THE STEPS FOR GOING THROUGH AND GETTING, UH, RE RESETTING YOUR PASSWORD. THAT'S PRETTY STRAIGHTFORWARD, UM, IN THE APPLICANT CONTACT FIELD. SO ANYONE CAN FILL OUT THIS APPLICATION FROM YOUR COMPANY. IT DOESN'T HAVE TO BE SOMEONE WITH BINDING AUTHORITY. UM, THEY NEED TO MAKE SURE THAT THEY PUT THEIR OWN EMAIL ADDRESS IN THE APPLICANT CONTACT FIELD AND MAKE SURE THAT IN THE APPLICANT LEGAL NAME, THAT'S THE NAME OF THE ACTUAL ENTITY APPLYING FOR MEMBERSHIP. A LOT OF PEOPLE WERE JUST PUTTING THE SAME NAME TWICE, BUT, UM, THE APPLICANT LEGAL NAME SHOULD BE THE ENTITY THAT'S APPLYING. UM, MAKE SURE EVERYTHING LOOKS CORRECT. IF THERE'S ANY FORMS THAT YOU NEED TO SUBMIT AS PART OF YOUR APPLICATION, FOR EXAMPLE, TO REGISTER AS THE INDEPENDENT GENERATOR SEGMENT, IT WOULD BE HELPFUL IF YOU ATTACHED YOUR PGC REGISTRATION WITH THE PUC. UM, PLEASE ADD THOSE, UM, MAKE SURE EVERYTHING THAT'S HAS AN ASTERISK IS, IS FILLED OUT. AND THEN ONCE YOU CLICK SUBMIT, THERE'LL BE AN OPTION FOR YOU TO DOWNLOAD YOUR SUBMITTED APPLICATION AND SAVE THAT. UM, AND THEN YOU'RE ALSO GONNA GET AN AUTOMATED EMAIL THAT EXPLAINS HOW TO PAY THE FEE. SO LOOK OUT FOR THAT EMAIL. YOU'RE NOT GONNA GET A SEPARATE INVOICE, UM, TO PAY THOSE MEMBER DUES. AND THEN AFTERWARDS, IF YOU WANT TO CHECK TO LOOK AT YOUR APPLICATION SUBMISSION, UM, THESE ARE THE DIRECTIONS TO, UM, LOG IN. AND THEN USING YOUR SERVICENOW TICKET NUMBER, YOU CAN PULL UP THAT SUBMITTED APPLICATION, OR YOU CAN FOLLOW THE LINK IN THE EMAIL THAT YOU GET ABOUT THE, UM, FEE INSTRUCTIONS. UM, THESE SLIDES WILL BE AVAILABLE ON THE MEMBERSHIP APPLICATION PAGE. AND WI HOPE TO HAVE A BETTER UNDERSTANDING OF THIS PART ABOUT, UM, THE CORRECT EMAIL ADDRESS TO USE. UM, AND I CAN UPDATE THESE SLIDES WITH THAT INFORMATION AS WELL AS PUTTING THAT INTO THE MARKET NOTICES AND EMAILS. SO, UM, DO, YOU KNOW, REFERENCE OR REFER TO THESE SLIDES IF YOU NEED HELP. UM, BUT YOU CAN ALSO REACH OUT TO MEMBERSHIP. UM, HERE ARE THE CONTACT INFORMATION. UM, AND YOU CAN ALSO, IF YOU'RE HAVING TECHNICAL SUPPORT, I'VE INCLUDED THE, UM, THE APPLICATION OR THE, UM, EMAIL ADDRESS FOR THAT AS WELL AS IF YOU'RE HAVING PAYMENT QUESTIONS. UM, SO ARE THERE ANY QUESTIONS ON THAT? YEP. YOU HAVE A FEW QUESTIONS. LET'S START WITH NED. HEY, CATHERINE, THANKS FOR, UH, BRINGING THIS TO US AND WALKING, WALKING THROUGH IT. UM, IT, IT GAVE ME SOME FLASHBACKS TO LAST OCTOBER , SO, UH, HAVING, HAVING THE HEADS UP IS, UH, IS MUCH APPRECIATED. UM, SO I'VE GOT A, I'VE GOT A FEW QUESTIONS FOR YOU. UM, AND APOLOGIES IF I'VE MISSED THIS, BUT, UH, FIRST ONE WAS, WHEN WILL THE WINDOW FOR, WELL, WHEN WILL THE EMAILS GO OUT AND WHEN DOES THE WINDOW FOR SUBMISSION OPEN? SO IT STARTS SEP, THE, THE SUBMISSION WINDOW OPENS ON SEPTEMBER 20TH. AND SO, UM, I DON'T KNOW THAT WE HAVE HAD A FIRM DEADLINE OF WHEN WE'LL SEND OUT THE EMAILS, BUT I'M HOPING THAT THAT WOULD BE BY LIKE TWO WEEKS PRIOR. OKAY. SO IT'LL BE, THE EMAILS WILL GO OUT PRETTY MUCH WELL AHEAD OF THE WINDOW OPENING, AND THEN WE'LL STILL HAVE BASICALLY SEPTEMBER 20 THROUGH THE END OF OCTOBER, OR, UH, OR ACTUALLY NO, MID-NOVEMBER, I THINK IS WHEN THE GUIDANCE WAS LAST YEAR, BECAUSE THERE YOU HAD TO, IF I'M REMEMBERING CORRECTLY, LAST YEAR WE WERE WAITING, WE, WE HAD A LITTLE BIT OF A CONDENSED TIMEFRAME AND IT WAS A NEW PROCESS. AND SO THAT WAS, THAT WAS THE, THE THING THAT HAD FOLKS NERVOUS WAS WHETHER YOU, YOU KNOW, EVERYONE WAS REGISTERED IN TIME FOR THE, THE, THE SNAPSHOT OF MEMBERSHIP TO BE ABLE TO SUBMIT, UM, UH, MEMBERSHIP APPLICATIONS. OKAY. YEP. IT'LL, SO YEAH, IT OPENS ON SEPTEMBER 20TH AND THEN EVERYTHING NEEDS TO BE SUBMITTED BY NOVEMBER 1ST. NOVEMBER 1ST. OKAY. AND THAT SHOULD BE PLENTY. UM, I THINK I GOT AN UPDATE THAT ACTUALLY THE, THE EMAILS LETTING YOU KNOW THAT IT'S OPEN AND EVERYTHING THAT'LL GO OUT RIGHT ON SEPTEMBER 20TH. OKAY. THAT, THAT MAKES SENSE TOO. OKAY. UM, OKAY, SO THE, THE OTHER QUESTIONS I HAVE RELATED TO THE EMAILS. SO THE, THE FIRST ONE IS, UM, WHO WILL THE EMAILS GO TO? IT GOES TO THE, UM, THE AUTHORIZED REPRESENTATIVE. OKAY. DESIGNATED REPRESENTATIVE FOR EACH MARKET PARTICIPANT. SO, OKAY. BUT THEN THAT AUTHORIZED REP CANNOT RESPOND, SO HAVE TO, OR [01:40:01] CANNOT FILL OUT THE APPLICATION ACCORDING TO THE INFORMATION AS I UNDERSTAND IT TODAY. OKAY. SO IF YOU'RE, IF YOU'RE AN AR YOU'LL NEED TO ASSIGN IT TO SOMEONE ELSE AND, AND WALK THEM THROUGH THE PROCESS. YEAH. AND SO THEY'LL HAVE TO, UM, CREATE THEIR, LIKE CREATE, CREATE A LOGIN AND GET THEIR CREDENTIALS AND THEN THEY CAN SUBMIT IT. OKAY. AND IF, UM, SO THERE ARE, FOR INSTANCE, I, I'LL GET THE WEATHERIZATION INSPECTION, UH, NOTICES, I'LL ASSIGN IT TO SOMEONE ELSE. AND IF I, IF, IF YOU HAVE ASSIGNED THE WEATHERIZATION, UH, SERVICENOW TICKETS TO ANOTHER PERSON IN THE PAST, DOES THAT, IS THAT PERSON ALSO NOT ALLOWED TO COMPLETE THE FORM? I THINK AS I UNDERSTAND THE TECHNICAL PROBLEM IN THE SYSTEM, IT'S, IT'S LARGELY BECAUSE IF THE PEOPLE WHO HAVE BEEN FILLING OUT THE WEATHERIZATION INSPECTION ARE NOT ABLE TO USE THOSE SAME CREDENTIALS TO COME OVER TO THIS PORTAL AND FILL IT OUT. SO, UM, I THINK TO ANSWER YOUR QUESTION, I SUSPECT THAT IT'S THAT IF YOU HAVE ASSIGNED IT TO SOMEONE ELSE FOR THE WEATHERIZATION INSPECTION PIECE, THAT SAME PERSON IS NOT GONNA, IT'S NOT GONNA LET THEM COME OVER HERE AND DO IT. GOT IT. OKAY. UM, I, YEAH, AGAIN, I DO THINK THIS IS A LITTLE CONFUSING AND NOT INTUITIVE. SO THOSE, UM, THE MARKET NOTICE AND EMAIL WILL EXPLAIN IT MORE, MORE, UH, IN MORE DETAIL. OKAY. AND, UH, SO I TAKE THAT TO MEAN ONCE YOU HAVE, ONCE YOUR EMAIL ADDRESS HAS BEEN ASSOCIATED WITH THE WEATHERIZATION, UH, SYSTEM YES. THAT'S, THAT IS BASICALLY A, THE BLOCKING A WALL THAT YOU CAN'T CROSS. YEP. GOT IT. OKAY. THANK YOU. I APPRECIATE THAT, THAT ADDITIONAL CONTEXT. SURE. YOU'RE WELCOME. OKAY. UH, ERIC BLAKEY? NO. OKAY. BOB PELTON. YEAH. COULD YOU GO BACK TO THE INVOICE PIECE? YES. UM, OKAY, I MISSED IT. YEAH, THIS IS A PROBLEM . UH, OKAY. THE EMAIL NOTIFICATION SERVES AS AN INVOICE. THAT WAS REALLY PROBLEMATIC LAST YEAR FOR ME. I HAD A REAL PROBLEM WITH THAT. MY FINANCE PEOPLE WOULDN'T ACCEPT IT, WOULDN'T ACCEPT IT. I FINALLY HAD TO GO TO THE CEO TO THE COMPANY TO GET 'EM TO DO IT. SO I, I THINK YOU NEED TO THINK ABOUT THAT IN THE FUTURE. THAT THERE'S EITHER SOME WAY WE CAN COPY OFF OF THE, THE SYSTEM, AN INVOICE OF SOME TYPE OR SOMETHING ALONG THOSE LINES, RATHER THAN JUST AN EMAIL NOTIFICATION THAT I DON'T KNOW IF ANYBODY ELSE HAS HAD THAT PROBLEM, BUT I HAD A HUGE PROBLEM WITH THAT LAST YEAR. UH, SO IT'S JUST SOMETHING TO THINK ABOUT. I'LL HAVE TO FIGURE OUT HOW TO GET THROUGH IT IF THIS IS THE WAY IT GOES. OKAY. UH, THE SECOND PIECE IS ALSO LAST YEAR THERE WAS A LITTLE ISSUE WITH THE NAMING CONVENTION FOR, FOR MY COMPANY AND I DIDN'T KNOW IT, UH, AND DIDN'T KNOW THERE WAS A PROBLEM UNTIL WE WERE, I STARTED BUGGING EVERYBODY, WHY AM I NOT ON THE APPROVED? WHY AM I NOT ON THE APPROVED? AND THEN I FOUND OUT THERE WAS A PROBLEM WITH THAT AND THEY WERE TRYING TO RESOLVE IT. I, I THINK THE COMMUNICATION THERE IS, IF SOMETHING IS WRONG, IS, IS NOTICED THAT HAS TO BE LOOKED AT. WE OUGHT TO BE NOTIFIED IMMEDIATELY, SO WE KNOW THAT. SO WE CAN TRY TO RECTIFY THAT OR HELP RECTIFY THAT RATHER THAN SITTING THERE SWEATING BBS UNTIL YEAH. UH, YOU GET A NOTIFICATION THAT YOU'RE, YOU'RE REGISTERED FOR THAT PIECE. OKAY. UM, THAT MAKES SENSE. I DO KNOW THAT LAST YEAR, THE, WELL, WHAT I'LL IS NOW, THERE ARE BASICALLY THREE PEOPLE THAT ARE WORKING ON PROCESSING THIS BECAUSE OF, UM, STAFFING ISSUES. THERE WAS ONLY ONE BASICALLY MM-HMM. . SO I THINK THAT THAT, OKAY. UM, AND, AND WITH THE ROLLOUT OF USING A NEW SYSTEM THAT EXACERBATED THINGS EVEN FURTHER. UM, BUT YEAH, I, I WILL TAKE NOTE OF THAT. AND I THINK THE, THE PLAN IS ALL THE APPLICATIONS THAT HAVE BEEN SUBMITTED TO F FULLY GET THROUGH ALL OF THOSE EVERY FRIDAY SO THAT IF THERE ARE ISSUES, IT'S CONVEYED TO THE OKAY. PERSON SUBMITTING. ALRIGHT. THANK YOU. YOU'RE WELCOME. OKAY. MARK DREYFUS. YES, I, I JUST WANNA EXPRESS MY THANKS AND THE THANKS OF MY 150 CONSUMER [01:45:01] ERCOT MEMBERS FOR, UH, Y'ALL'S EFFORTS TO IMPROVE THE SYSTEM. AS YOU KNOW, LAST YEAR WE HAD, WE HAD A TOUGH TIME REGISTERING OUR 150 MEMBERS. THAT TOOK A LOT OF OUR RESOURCES AND A LOT OF Y'ALL'S RESOURCES. SO WE APPRECIATE THE UPDATES, WE APPRECIATE THE OUTREACH THREE, THREE WEEKS AGO TO OUR TEAM TO COORDINATE ON THIS. AND, UH, WE HOPE TO BE ABLE TO USE THIS INFORMATION THAT YOU'VE PROVIDED IN OUR COMMUNICATIONS WITH OUR MEMBERS. SO ONCE THIS INFORMATION IS UPDATED OR CORRECTED, IF YOU COULD JUST SEND OUT A NOTICE ABOUT THE, THE LATEST AND GREATEST SO THAT WE CAN INCLUDE THAT IN OUR COMMUNICATIONS, THAT WOULD BE APPRECIATED AS WELL. OKAY. THANK YOU SO MUCH. AND BILL BARNES, IS THE PROHIBITION ON THE AR DOING THIS A TEMPORARY THING? IS THAT SOMETHING THAT COULD BE FIXED IN THE FUTURE? YEAH, IT'S SUPPOSED TO BE FIXED FOR NEXT YEAR, SO. OKAY. GREAT. AND THEN IT'S A REQUIREMENT TO ATTACH YOUR APPLICABLE REGISTRATION, UH, AT THE PUCT AS WELL IF IT APPLIES TO YOU. THAT WOULD BE HELPFUL. SO I THINK, YOU KNOW, LIKE IF WE NEED TO CHECK YOUR PGC REGISTRATION, UM, IT, AND YOU HAVEN'T, LIKE IF FOR EXAMPLE, YOU WERE, WE NEED TO SEE THAT, BUT YOU DIDN'T SUBMIT IT WITH YOUR APPLICATION, UM, I CAN LOOK THAT UP ON THE PC'S WEBSITE AND TRY AND FIGURE IT OUT MYSELF. UM, AND SO I THINK LAST YEAR JOHN LEVINE WAS IN CHARGE OF THIS AND I THINK THAT HE DID A LOT OF THAT, BUT, UM, IF IT CAN, YOU KNOW, MAKE THE PROCESS MORE SMOOTH TO JUST INCLUDE THAT, THEN THAT WOULD BE HELPFUL. BUT FOR EXAMPLE, UM, THERE'S, THE SYSTEM ISN'T BUILT TO BLOCK YOUR, YOU SUBMITTING THE APPLICATION AS AN INDEPENDENT GENERATOR, UM, BECAUSE YOU DIDN'T INCLUDE AN ATTACHMENT, IF THAT MAKES SENSE. OKAY. YEAH, I THINK IT'S, I WAS JUST CURIOUS 'CAUSE I THINK IT'S POSSIBLE TO BE IN THE REP SEGMENT AND NOT HAVE A PUC REGISTRATION. MM-HMM. . OH, OKAY. THANKS ERIC GOFF, UM, I UNDERSTAND IT'S A TECHNICAL ISSUE, BUT THE AUTHORIZED REP ISSUE SEEMS TO BE A POTENTIAL VIOLATION OF THE PROTOCOLS OF THE DEFINITION OF AUTHORIZED REP, WHICH INCLUDES THE PHRASE THAT IT'S THE CONTACT PERSON BETWEEN THE REGISTERED ENTITY AND ERCOT FOR ALL BUSINESS MATTERS REQUIRING AUTHORIZATION BY ERCOT. SO, UM, IF THAT'S THE CASE, I COULD ERCOT SEE IF THEY AGREE WITH THAT, MAYBE NOT THE SECOND I'M ASKING FOR AN ON THE SPOT THING AND TAKE APPROPRIATE ACTION. THANKS ERIC BLAKEY? YEAH, THIS CONFUSION IS, IS ALSO LIKE ON SLIDE SIX IT SAYS TO CHECK A BOX THAT I AGREE TO THE MEMBERSHIP AGREEMENT AND THAT IF IT'S JUST SOME RANDOM SECRETARY FILLING THIS OUT IS ARE THEY GONNA BE SIGNING THIS OR ARE THEY GONNA BE PUT THE AUTHORIZED REP NAME IN THAT BOX? IT WOULD, YEAH. I MEAN THAT'S A A GOOD POINT. IT IS STILL THE PERSON THAT IS ACTUALLY SUBMITTING IT. SO I CAN TALK TO THE TECHNICAL TEAM AGAIN MORE ABOUT THIS ISSUE WITH THE CERTAIN ARS AND BERS NOT BEING ABLE TO SUBMIT THE APPLICATION. BUT AS I UNDERSTAND IT RIGHT NOW, IT'S LIKE A, A TECHNICAL ISSUE WITH SERVICENOW THAT I, I DON'T THINK WE'RE GOING TO BE ABLE TO FIX, UM, IN TIME. RICHARD, I, I WANNA MAKE SURE THAT, UM, Y'ALL HADN'T CONFUSED ME. SO PUTTING IT FOR SIMPLE OLD ME, BECAUSE I HAVE DONE GONE THROUGH GREAT EFFORTS OVER RECENT YEARS TO GET OUT OF RESPONSIBILITY AS THE AR OR BACKUP AR FOR ANY OF THE SUBSIDIARIES THAT ARE MARKET PARTICIPANTS IN ANY WAY, SHAPE OR FORM UNDER THE PROTOCOLS DIRECTLY. BUT I AM THE DESIGNATED REPRESENTATIVE FOR OUR MEMBERSHIP. AND WHEN YOU SAY THERE'S A CONFLICT, YOU'RE NOT TALKING ABOUT A CONFLICT AS DESIGNATED REPRESENTATIVE OR THE DESIGNATED ALTERNATE, WHICH IS UNDER THE MEMBERSHIP, RIGHT? YOU'RE TALKING SPECIFICALLY ABOUT MARKET PARTICIPANT ACTIVITY. SO I'M GOOD AS GOLD? YES. YOU UH, SINCE YOU'RE NOT THE AR. OKAY. YEP. ALRIGHT. AND THEN I, I I GUESS I WOULD SUBMIT THAT I, I DON'T WANT ERCOT TO BE OUT OF COMPLIANCE. I DON'T THINK YOU'RE OUT OF COMPLIANCE. ALL YOU'RE DOING IS SAYING WHOEVER THOSE AR ARE, THEY CAN'T USE THE SAME EMAIL THEY USED FOR OTHER ACTIVITIES, BUT THEY CAN DO IT, [01:50:01] THEY JUST HAVE TO USE A DIFFERENT EMAIL ADDRESS. MAY NOT LIKE IT. MARK. YEAH, I WANT TO ASK ABOUT THE SAME ISSUE. YOU KNOW, A LOT OF MY MEMBERS ARE, ARE VERY SMALL MM-HMM. COMMUNITIES. THEY HAVE LIKE ONE PERSON WHO'S MANAGING ALL THIS. ARE THEY SUBJECT TO THE SAME LIMITATION OR IS IT ONLY ENTITIES THAT WERE INVOLVED IN THE INSPECTION AND WEATHERIZATION PROGRAM? SO MY UNDERSTANDING IS THAT IT'S ONLY A PROBLEM FOR ENTITIES THAT HAVE ALREADY USED THE WEATHERIZATION, LIKE HAD TO SIGN IN FOR THE WEATHERIZATION AND INSPECTION. I THINK, UM, YOU KNOW, THIS, THIS GUY, OOPS, SORRY. THIS GUIDANCE IS HERE IS AN ATTEMPT TO LIKE SIMPLIFY IT, BUT IT'S OVERLY SIMPLIFIED. SO, UM, I THINK THE BALANCE IS PROVIDING GUIDANCE THAT IS HELPFUL TO PEOPLE AND NOT OVERLY CONFUSING, BUT THAT IS ALSO ACCURATE. SO THAT'S WHAT I THINK WE CAN UPDATE IT. I THINK AS YOU EXPLAIN IT, IT'S PROBABLY NOT GOING TO BE A PROBLEM THAT THE EMAIL ADDRESS IS NOT A PROBLEM FOR MY MEMBERS. SO I THINK PROBABLY MORE DETAIL IN THE INSTRUCTIONS THAT IDENTIFIES WHICH A AR EMAILS WILL BE A PROBLEM AND WHICH WON'T WOULD, WOULD HELP US A LOT. YEAH. THANK YOU. MAKES SENSE. BOB, DID YOU HAVE A ITEM? NO, MY COMMENTS WERE EXACTLY THE SAME AS, UH, RICHARD'S, WHICH SCARES THE HECK OUTTA ME. USUALLY JUST WING . YEAH. ALRIGHT, SO, SO I GUESS ALL THESE DETAILED INSTRUCTIONS ARE GONNA BE INCLUDED IN THE EMAIL THAT COMES OUT YES. ON SEPTEMBER 20TH. YES. AND GOES OUT TO EVERYBODY AND, UM, THESE, A SLIDE DECK WILL BE PUT ONTO THE MEMBERSHIP PAGE, BUT THIS PART WILL BE ACCORDINGLY UPDATED RATHER THAN JUST KIND OF, IT'S RIGHT NOW IT'S PRETTY GENERIC. OKAY. THANK YOU. MM-HMM. . APPRECIATE THE UPDATE. MM-HMM, . OKAY. LET'S MOVE ON TO [14. Other Business] OTHER BUSINESS. WE'VE GOT THE TAC WORKSHOP ON THE STAKEHOLDER PROCESS AND WE ALSO HAVE ANOTHER ITEM. I WANNA TAKE IT FIRST IF KAILYN COMES BACK. MATT, YOU HAD SOME, SOME COMMENTS TO MAKE? YEAH, I HAD A QUICK, YEAH, SO NO ACTION FOR THIS GROUP, BUT WE MAY HAVE ACTION AT THE NEXT MEETING. WHEN, ER, SORRY. CONGESTION REVENUE RIGHTS WHEN WE EXPANDED THE, UH, CAPABILITY FROM 300,000 BIDS TO 400,000 BIDS THAT HAS BEEN SUCCESSFUL EXCEPT FOR WHEN WE GET TO THE VERY THIN OUT YEAR, UH, NETWORK MODEL. SO IF WE GET TO A 10% NETWORK MODEL AND WE HAVE 150,000 BIDS, THAT IS WHERE IT STARTS TO CYCLE TO WHERE THE, UM, THE MACHINES CRUNCHING THESE NUMBERS CAN TAKE WEEKS INSTEAD OF HOURS. AND SO WE'RE HAVING THIS HOCKEY STICK TYPE PERFORMANCE ISSUE THAT WE'RE NAVIGATING AND IT'S SOMETHING THAT GOT US BACK. IF YOU REMEMBER EARLIER IN THE YEAR, WE ACTUALLY HAD THE AUCTION RUN 322 HOURS, UH, AND WE PUBLISH LATE. WE DON'T WANNA DO THAT AGAIN. AND SO WE'RE GONNA WORK WITH WMS. WE ALSO HAVE A SOFTWARE OPTIMIZATION THAT WE THINK WILL HELP THAT. BUT THIS IS JUST A HEADS UP THAT WE MAY COME BACK AND SAY, YOU KNOW, THAT TAC APPROVED 400,000, THERE MAY NEED TO BE SOME SECONDARY CONSTRAINTS BEHIND IT TO SAY WE CAN SUPPORT 400,000, BUT WE MAY NOT BE ABLE TO SUPPORT FOR THESE INDIVIDUAL TIMES OF USE BECAUSE IT'S NOT EVENLY DISTRIBUTED. THE PEAK WEEK DAY IS STACKED, THAT'S WHERE 40% OF ALL THE BIDS GO TO THAT THING. SO WE MAY HAVE TO HAVE A, UH, A LIMIT ON THAT ONE. SO WE'RE LOOKING AT SOME SOLUTIONS TO HELP MAINTAIN LIQUIDITY TO SUPPORT THE MARKET. UH, BUT WE ALSO DON'T WANT ANOTHER 300 HOUR RUN BECAUSE THAT'S NOT GOOD FOR ANYONE. UM, SO JUST WANNA MAKE YOU AWARE, WE'LL BE WORKING WITH WMS, I KNOW CMWG DOESN'T HAVE A MEETING ON THE BOOKS, BUT IF WE HAVE ANY TECHNICAL PROPOSALS, WE'LL BRING IT BACK, UH, THROUGH THE WMS GROUP TO THIS GROUP. ANY QUESTIONS? JOSE? JOSE? YEAH. UH, DME, JOSE GATON, UM, CAN YOU GIVE US, UH, A FLAVOR FOR WHAT KIND OF BIDS ARE BEING, YOU KNOW, USING UP SO MANY? IS IT PRICE DISCOVERY BIDS THAT'S CAUSING ISSUES AND OPTIONS? UM, SO I, I'LL BE CAREFUL HOW I ANSWER THAT. WE, WHAT WE WILL, AND ACTUALLY TACK IS ALLOWED TO ASK FOR THIS TOO IN PROTOCOLS. IT SAYS WHAT DOES THE BIDDING BEHAVIOR LOOK LIKE? AND TO PROVIDE A FEEDBACK LOOP TO THAT SO YOU CAN SEE WHICH COMPANIES ARE BIDDING, HOW MANY BIDS. I WON'T SPECULATE AS TO WHAT THEIR BUSINESS IS, BUT THERE'S A COUPLE THINGS THAT ERCOT HAS PROVIDED TO CMWG, WHICH IS DO WE NEED TO INTRODUCE MINIMUM BID PRICES [01:55:01] AT A HIGHER LEVEL SO PEOPLE CAN'T THROW IN SMALL BIDS? UM, SO WE'RE LOOKING AT OTHER DIMENSIONS BETWEEN NOW AND NEXT MONTH. WE CAN'T CHANGE THAT RULE, BUT I THINK THIS DOES CREATE SOME URGENCY IN HOW TO REALLOCATE BIDDING CAPABILITIES ACROSS THE MARKET TO SURE. TO PROTECT THE MARKET. AND I THINK, UH, I GUESS MY THOUGHT PROCESS WAS IF IT IS MAINLY PRICE DISCOVERY OPTIONS, BIDS, YOU KNOW, TENTHS OF A, A MEGAWATT OUT OF, AT A PENNY, IS IT POSSIBLE TO HAVE A LIST OF PRICE DISCOVERY, A UNIQUE SET OF PRICE DISCOVERY BIDS THAT ARE A 10TH OF A MEGAWATT AT ZERO THEY NEVER CLEAR, RIGHT. 'CAUSE IT'S A MINIMUM ONE PENNY AND IF IT'S AT ZERO, IT JUST MEANS THAT, HEY, PEOPLE WANT TO SEE PRICE DISCOVERY AND IT'S A UNIQUE SMALLER SET OF, OF PRICE DISCOVERY BIDS SO THAT EVERYONE SEES THE RESULT AND NOT EVERYONE IS SUBMITTING PRICE DISCOVERY BIDS. SO LET ME SEE IF I CAN REPEAT THAT. A SUGGESTION. IF, IF ERCOT CAN FIND A WAY TO CREATE THAT PRICE TRANSPARENCY, THERE MAY NOT BE A NEED TO PING IT WITH THESE INTEREST. EXACTLY. OKAY. YEAH. THANK YOU BRIAN. I I, I JUST WANNA MAKE SURE YOU'RE NOT TRYING TO FORESHADOW ANY LIMITS IN THE NEAR TERM. I, I GUESS I'M JUST TRYING TO GET THE TAKEAWAY HERE. YOU'RE, YOU'RE, WE MAY COME WITH LIMITS AT THE NEXT TAC MEETING THAT SAYS WE CAN, ALTHOUGH WE CAN SUPPORT 400,000 IF THIS INDIVIDUAL TIME OF USE IS MORE THAN 150, WE WOULD HAVE TO KICK IN THE RESUBMISSION LOGIC FOR THE AUCTION. OKAY. GOT IT. SO IT'S KIND OF A, UH, A WARNING TRACK THAT SAYS WE, SO, UH, IF THAT EXPLAINS IT. YEAH, I JUST, I, YOU KNOW, WE HAD LIMITS EARLIER, UH, THIS YEAR. IT KIND OF, IT CREATED A LITTLE BIT OF CHAOS, BUT IT, YOU'RE, YOU'RE TRYING TO GET AHEAD OF THAT IN TERMS OF LIKE, IF THIS HAPPENS, THEN, THEN THAT HAPPENS AND YES. YEAH. SO THIS IS ACTUALLY GETTING PERMISSION TO USE THAT THING THAT WE DON'T WANT TO USE RIGHT. PROACTIVELY TO PROTECT THE AUCTION FROM NOT SOLVING. YEP. I APPRECIATE IT. YEAH, THANK YOU. YOU BET. ALRIGHT, THIS IS KEITH COLLINS. JUST TO ADD A COMMENT HERE. THIS IS DEFINITELY A GROWING PROBLEM AND I THINK THE REASON WHY WE, WE WANTED TO MENTION SOMETHING NOW IS, UH, THERE'S ONLY SO MANY TOOLS IN THE TOOLKIT AND, UM, WE NEED TO START GETTING AHEAD OF THIS, UM, BEFORE WE END UP HAVING TO DO, YOU KNOW, THE MORE DRASTIC TOOLS. AND SO, UH, RIGHT NOW WE DON'T HAVE ANY SPECIFIC PROPOSALS, BUT, UH, I THINK, YOU KNOW, DEFINITELY GOING FORWARD, WE'RE GONNA NEED, YOU KNOW, TO TAKE SOME MORE ACTION GOING FORWARD. THANKS. YEAH, THANKS FOR LETTING ME SHARE THAT. OKAY. ANYTHING ELSE? UM, THE CRR UPDATE. OKAY. SO WE ALSO LISTED UNDER OTHER BUSINESS THE UPCOMING TECH WORKSHOP FOR STAKEHOLDER PROCESS. AND I THINK WE WANTED TO GET SOME FEEDBACK TODAY. SO OUR PLAN WAS TO HAVE THIS INITIAL WORKSHOP, UM, BY WEBEX ON THE FIFTH. I THINK WE, WE COULD HAVE A FOLLOW UP WORKSHOP AFTER THAT IN, IN PERSON, BUT, UM, I, I KNOW THAT THERE WAS SOME FEEDBACK ON WEBEX VERSUS IN PERSON, AND THEN MAYBE SOME FEEDBACK ON AGENDA ITEMS. I THINK WE HEARD SOME EARLIER TODAY, UM, REGARDING THE ERCOT COMMENTS THAT THEY'RE SUBMITTING BETWEEN TAC AND THE BOARD NOW. SO I'LL JUST OPEN IT UP FOR DISCUSSION. CAITLIN, IF I, IF I COULD JUST MAKE A QUICK COMMENT. I, I, I KNOW WE'LL DO WHAT WE CAN. OBVIOUSLY THERE'S NOT A LOT OF TIME BETWEEN NOW AND IN THAT WORKSHOP, BUT I THINK WE DEFINITELY WANT TO DRIVE TO PROVIDING A VISION OF, YOU KNOW, CHANGES AND THINGS. AND SO WE'LL, WE'LL DO WHAT WE CAN FOR NEXT MEETING. UM, I'D LIKE YOUR IDEA OF, YOU KNOW, IF WE HAVE TO HAVE A IN-PERSON MEETING, UH, FOLLOW UP, THAT'S, THAT'S NOT A BAD IDEA. IT MIGHT GIVE US A LITTLE MORE TIME TO, TO PREPARE, UH, UH, GIVEN THE FACT THAT THERE'S NOT MUCH, NOT MUCH TIME BETWEEN NOW AND THEN IN TERMS OF SOLIDIFYING A PROCESS. BUT IT MIGHT BE NICE ON THE FIFTH TO GET SOME FEEDBACK. I KNOW WE DO GET SOME FEEDBACK TODAY, BUT IF FOLKS ARE THINKING ABOUT THAT, THERE ARE THINGS THAT WE MIGHT BE ABLE TO CONSIDER. SO, UM, YOU KNOW, SORT OF THROW THAT OUT THERE FOR FOLKS TO THINK ABOUT WHAT, WHAT THEY MIGHT WANT A PROCESS TO LOOK LIKE POTENTIALLY. THANKS. OKAY. MARK, DO WE KNOW WHAT PROBLEM WE'RE TRYING TO SOLVE? I, I JUST HAVEN'T SEEN A SPECIFICATION OF THE PROBLEM STATEMENT, AND I KNOW THAT THE CHAIRMAN SAID SOMETHING AT AN OPEN MEETING IN RESPONSE TO I, I [02:00:01] DON'T KNOW THE, THE WAY MATERIAL WAS PROVIDED TO THE COMMISSION. THAT WAS AWKWARD. AND, AND I'M JUST NOT CLEAR THAT THAT WAS A, A ONE TIME COMMENT OR IF THERE'S SOME CONCERN ABOUT THE PROCESS. I DON'T SEE THE PROBLEM WITH OUR STAKEHOLDER PROCESS. I SEE SOME, SOME ISSUES OUTSIDE OF OUR STAKEHOLDER PROCESS THAT ARE A LITTLE UNORGANIZED AND AWKWARD, BUT I I DON'T UNDERSTAND WHAT WE ARE BEING ASKED TO DO. SO I DON'T UNDERSTAND THE PURPOSE OF THE WORKSHOP. AND I DO THINK THAT THE WORKSHOP SHOULD CERTAINLY BE AN IN-PERSON DIALOGUE BECAUSE WE COMMUNICATE SO MUCH BETTER WHEN WE'RE ALL IN THE ROOM AS WE JUST DEMONSTRATED FROM THE, THE DEMO WE HAVE. MM-HMM. , THANKS. OKAY. UH, LET'S GO TO NED. I'LL SECOND THE MOTION FOR IN PERSON, UH, OVER WEBEX. UM, IF, IF THAT'S POSSIBLE, IF, IF WE DO, IF WE DO WANNA KEEP THE SEPTEMBER 5TH MEETING, UM, KEITH IF, YEAH, CERTAINLY UNDERSTAND, YOU KNOW, I KNOW I ASKED IF YOU COULD PUT SOMETHING TOGETHER, SO IF KNOWING THAT'S A WEEK OUT AND WE'VE GOT A HOLIDAY WEEKEND IN BETWEEN, IF THAT'S NOT SOMETHING THAT CAN BE POSTED, YOU KNOW, SEVEN DAYS OUT, I THINK THAT'S UNDERSTANDABLE AND NO, NO CONCERNS THERE. IT IS JUST ALWAYS, IT'S ALWAYS HELPFUL TO HAVE SOMETHING, YOU KNOW, WRITTEN DOWN TO REACT TO. AND I THINK THAT HELPS TO FOCUS DISCUSSION AS OPPOSED TO, YOU KNOW, KIND OF EVERYONE, UH, YOU KNOW, KIND OF GOING IN THEIR OWN IMAGINATION WHAT, WHAT IT LOOKS LIKE. SO I THINK THAT WOULD BE HELPFUL IF WE, IF WE KEEP THAT TIME OR IF WE MOVE IT TO A DIFFERENT TIME FOR, FOR IN PERSON. UM, MY PREFERENCE WOULD BE TO DO ONE AND NOT, NOT BOTH. UH, IF I CAN PUT THAT OUT THERE. UM, AND MAYBE, MAYBE AS A, UH, A SEGUE OFF OF MARK'S COMMENT. UH, YOU KNOW, WE DON'T HAVE AN AGENDA FOR THE WORKSHOP AND SO THAT IT MIGHT HELP INFORM THIS DISCUSSION IF WE CAN TALK ABOUT WHAT IS CONTEMPLATED FOR THAT AGENDA. OKAY. OKAY. UM, I'LL PROBABLY REVISIT SOME OF THAT, BUT LET'S GO. IAN, IS YOUR CARD UP FOR THIS DISCUSSION? YES. THANK YOU. UM, I THINK THIS IS A TOPIC THAT SHOULD BE HANDLED IN PERSON. UM, I THINK THIS GROUP DOES BETTER, UM, ON TOPICS OF THIS LEVEL OF SEVERITY, BEING ABLE TO, UH, LOOK ACROSS THE TABLE, UM, AND FIGURE OUT BEST PATHS. UM, I WOULD ALSO AGREE WITH WHAT NED WAS SAYING. UM, I BELIEVE IT WOULD BE BETTER TO GIVE ERCOT MORE TIME, UM, TO COME UP WITH THAT. UH, THIS IS AN ISSUE, UH, THAT WE ARE TRYING TO, TO BE RESPONSIVE TO THE CHAIRMAN, AND SO HAVING THE ERCOT INFORMATION POSTED SO THAT WE CAN ALL PROCESS IT, UM, AHEAD OF TIME, I THINK IS VERY NECESSARY. UM, I DON'T THINK TOO MANY PEOPLE WILL WANT TO SHOOT FROM THE HIP ON THIS CONCEPT. UM, SO THAT'S MY VOTE FOR, UM, IN PERSON AND GIVING ERCOT ENOUGH TIME TO POST THE DOCUMENTS, UH, PLENTY AHEAD OF THE MEETING SO THAT, UH, SHOPS CAN DIGEST THEM FIRST. KEITH, DID YOU WANNA YEAH, I, I, I THINK THAT FROM OUR PERSPECTIVE WOULD BE MOST HELPFUL AS WELL. I, I AGREE WITH IN PERSON. I THINK THIS IS MUCH MORE CONDUCIVE TO THIS TYPE OF DIALOGUE. I THINK OUR ABILITY TO GET MATERIAL OUT IS LIMITED AT THIS POINT. AND, AND I THINK THAT, YOU KNOW, IF WE COULD TAKE THAT BACK, AND OBVIOUSLY WE RECOGNIZE EVERYBODY'S TIME IS TIGHT AND, AND IT MIGHT BE HARD TO FIND THINGS, BUT, BUT I THINK IT MIGHT, UH, IN THIS CASE, IT PROBABLY MAKES A LOT OF SENSE TO DO THAT AND, AND WE COULD DEFINITELY SEE WHAT WE CAN DO FROM THAT PERSPECTIVE. THANKS. OKAY. BUT KEITH, THE EXTENT OF YOUR PRESENTATION WOULD BE RELATED TO WHAT WE DISCUSSED EARLIER, RIGHT? JUST THE, THE COMMENTS THAT ARE COMING IN BETWEEN TAC AND THE BOARD. OH, UH, I THINK THAT THAT IS, YOU KNOW, ONE PIECE OF IT, RIGHT? YEAH. AND I THINK THE OTHER PIECE IS, IS KIND OF SORT OF THE ORIGINAL PURPOSE OF THE, THE, THE MEETING. AND I, I THINK THE FEEDBACK WE'VE HEARD HERE IS THAT WOULDN'T IT BE GREAT TO HAVE A PROBLEM STATEMENT AND, UM, SOMETHING ALONG THOSE LINES. SO I, I THINK OKAY. THAT, THAT'S WHAT I WAS HEARING. SO THAT, SO THAT'S SOMETHING YOU'RE, YOU WOULD PROPOSE YOUR GROUP WOULD DO? WE WOULD, WE WOULD HELP, UM, YOU KNOW, IF WE NEED AN AGENDA, BRING BACK WHAT WE BELIEVE THE PROBLEM STATEMENT TO BE, I THINK THAT WOULD BE SOMETHING THAT WOULD, UM, THAT ERCOT COULD TAKE ON. OKAY. WE MAY BE, WE COULD KINDA SPRUNG IT ON YOU, BUT WE MAY BE GETTING WIRES CROSSED A LITTLE BIT. UM, WE, WE HAVE BEEN WORKING WITH, WITH ANN'S GROUP. OKAY. AND A LITTLE BIT WITH LEGAL [02:05:01] ON PERFECT ON THAT. UM, BUT I, I THINK THAT'S WHY NED, I UNDERSTAND NOT WANTING TO, BUT WE MIGHT WANT AT LEAST IF, IF WE CAN'T HAVE THE ROBUST DISCUSSION TODAY, MAYBE THAT DISCUSSION ON THE FIFTH TO MAKE SURE ERCOT HAS ALL THE ASKS FROM US, BECAUSE I'M SURE IT'S MORE THAN JUST, YOU KNOW, PRESENTATION ON THE, THE COMMENTS BETWEEN TAC AND THE BOARD. WE, WE DO HAVE AN AGENDA THAT WE WERE EXPECTING TO POST TO TOMORROW. IT IS, YOU KNOW, FAIRLY LIMITED. UM, I, I TOTALLY UNDERSTAND. WE'VE, WE'VE HAD DISCUSSIONS WITH SUBCOMMITTEE LEADERSHIP ON THE, THE KIND OF PROBLEM STATEMENT. AND I, I THINK, YOU KNOW, THERE, THERE'S A BELIEF THAT THERE MIGHT NOT BE A PROBLEM TO SOLVE. AND SO I THINK I WOULD CALL IT A ISSUE STATEMENT. WHAT, WHAT I HAVE TAKEN AS, AS LEADERSHIP'S DIRECTION FROM THE COMMISSION IS MORE TRANSPARENCY IN THE PROCESS AND MAYBE HAVING THE KIND, THE MORE CONTROVERSIAL DISCUSSIONS EARLIER SO THAT THERE'S MORE TIME FOR THE BOARD AND COMMISSION TO GET THAT INFORMATION. UM, YOU KNOW, UNDERSTANDING. WE MIGHT NOT THINK THERE'S A PROBLEM, BUT WE'RE VERY IN, IN THE WEEDS OF THE PROCESS. SO IF, IF THE NEW INDEPENDENT BOARD, OR THEY'RE NOT NEW ANYMORE, BUT IF THE, THE INDEPENDENT BOARD AND THE COMMISSION NEEDS TO BE ABLE TO SEE KIND OF MORE TRANSPARENCY OR MORE INFORMATION EARLIER FROM US, THAT IS WHAT I HAVE TAKEN AWAY AS SORT OF THE, THE GOAL OF THIS. BUT I THINK, YOU KNOW, AND, AND I HAD SOME IDEAS THAT WE'RE BASED ON THAT, BUT I THINK MAKING SURE WE CAN GET OUR FEEDBACK TO ERCOT IF WE WANT ERCOT TO PRESENT MORE ABOUT CERTAIN IDEAS, I THINK MAYBE THAT IS A TWO STEP PROCESS. OKAY. UH, ERIC, ARE YOU NEXT? MAYBE? UM, I THINK SO. UM, SO I'M NOT SURE IF I TOTALLY, UM, UNDERSTAND THE SCOPE OF THE WORKSHOP, AND MAYBE THAT'S BECAUSE WE DON'T HAVE THE AGENDA YET. UM, BUT IT SEEMED LIKE THE DISCUSSION WAS GOING IN THE DIRECTION OF, UM, HOLDING IT AT A TIME THAT WE CAN HAVE AN IN-PERSON MEETING WITH MORE TIME FOR ERCOT TO PREPARE. AND THEN MAYBE ALSO IT'D BE AN INFORMATION GATHERING THING, THING ABOUT A SECOND WORKSHOP LATER ON. AND IT'S, AM I MISCHARACTERIZING THAT SUMMARY? UM, BECAUSE IT SEEMS LIKE WE WERE GOING IN A COUPLE DIFFERENT DIRECTIONS IN THE CONVERSATION. NO, BUT I, I THINK AND TACK CAN TELL ME IF I'M WRONG. I, I WHAT I HEARD FROM THE CHAIRMAN AND WHAT I THINK KNOWING ALL OF YOU GUYS, WHAT YOU WOULD PREFER IS THAT SOME IDEAS COME FROM US. I MEAN, WE CERTAINLY COULD SAY, KEITH, GO COME UP WITH WHATEVER YOU WANT FOR IDEAS FOR THE PROCESS, BUT I, I DON'T KNOW THAT WE WOULD LIKE ALL OF THOSE, RIGHT? NO OFFENSE TO KEITH, BUT I, I THINK, I THINK PART OF THIS IS, IS IDEAS THAT COME FROM, FROM US. OKAY. SO IT'LL BE BE LIKE A BRAINSTORMING SESSION MAYBE. OKAY. OKAY. BOB HILTON. YEAH. TWO THINGS. UH, THE FIRST ONE IS WHEN WE'RE LOOKING AT THE STAKEHOLDER PROCESS, AND I THINK SOME AREN'T LOOKING AT IT IN THIS DIRECTION, IS THE STAKEHOLDER PROCESS DOESN'T END AT T THE BOARD IS PART OF THE STAKEHOLDER PROCESS. AND NOW SINCE THE COMMISSION HAS THEIR NEW NEW, UH, CHARGE, THEY'RE PART OF THE STAKEHOLDER PROCESS. SO I THINK WE JUST CAN'T STOP AT TAC AND THINK ABOUT THAT. SO THAT'S ONE COMMENT I WANTED TO SAY THAT I THINK WE NEED TO MAKE THAT VERY CLEAR THAT THAT'S WHAT THE STAKEHOLDER PROCESS STARTS AT WMWG AND IT ENDS AT THE COMMISSION , YOU KNOW, UH, IN THAT PIECE. MY SECOND PIECE IS, AND YOU MENTIONED IT ON TRANSPARENCY, I DON'T KNOW HOW MUCH MORE TRANSPARENT YOU CAN GET AS HAVING EVERYTHING POSTED IN THE PUBLIC AND ALL OF THE MEETING NOTICES AND THE VIDEOS THAT ARE OUT THERE FOR ALL THESE DEBATES. I TEND TO, WHAT WE MAY NEED TO THINK MORE ABOUT IS HOW WE'RE COMMUNICATING THAT, NOT THE TRANSPARENCY, BUT I LOOK AT IT AS A COMMUNICATION ISSUE MORE THAN ANYTHING THAT I THINK WE NEED TO THINK ABOUT. THAT'S, THAT'S A BETTER WORD, I THINK. YEAH. OKAY. ANY OTHER COMMENTS OR QUESTIONS THERE? LET'S, UM, TAKE THAT FEEDBACK AND I GUESS STAY [02:10:01] TUNED. ALL RIGHT. UH, I THINK WE CAN MOVE TO THE COMBO [15. Combo Ballot] BALLOT AND CORY HAS ALL WHAT? JEREMY? JEREMY, SORRY. LAST MINUTE QUESTION. I SAW THE MARKET NOTICE GO OUT THAT ERCOT IS INVESTIGATING POTENTIAL PRICE CORRECTIONS FOR AUGUST 20TH, AND I WAS WONDERING IF ERCOT COULD PROVIDE ANY FEEDBACK ON WHAT SPECIFICALLY THEY'RE LOOKING AT TO DETERMINE WHETHER OR NOT THIS WOULD QUALIFY AS SOMETHING THAT WOULD BE REPRICED OR NOT. DOES ERCOT HAVE SOMEONE? YEAH, I THINK, I THINK GORDON JUST STEPPED OUT, SO, UM, I DON'T KNOW THAT WE YEAH. HOLD ON A SECOND. OKAY, LET'S DO THE BALLOT. SO COREY HAS THE ITEMS UP ON THE SCREEN. CAN I GET A MOTION AND A SECOND FOR THE COMBO BALLOT? IS THAT ERIC AND THEN JENNIFER SECOND. ALL RIGHT. ON THE MOTION TO APPROVE THE COMBO BALLOT, WE WILL START UP WITH THE RESIDENT OR CONSUMERS WITH ERIC. YES. THANK YOU. NAVA? YES. THANK YOU. THANK YOU, GARRETT. YES, SIR. THANK YOU, SIR. UH, ERIC SCHUBERT? YES, THANK YOU. THANK YOU. MARK DREYFUS. YES, SIR. THANK YOU. THANKS, SIR. UH, NICK FEHRENBACH STILL WITH US? YES, THANK YOU. THAT WAS YES, NICK, THANKS. MOVE ON TO OUR CO-OPS, UH, JOE, DAN FOR MIKE. YES, THANK YOU. YOU BLAKE? YES. THANK YOU ERIC. YES, THANK YOU. THANK YOU, JOHN. YES, THANK YOU. THANK YOU. ONTO OUR INDEPENDENT GENERATORS. BRIAN? YES. THANK YOU, CAITLIN. YES, THANK YOU. BOB HELTON. YES, SIR. THANKS SIR. NED? YES. THANK YOU, COREY. THANK YOU. ONTO OUR IPMS, REMI. YES, THANKS. THANK YOU, JEREMY. YES, THANK YOU. THANK YOU. IAN. YES, THANK YOU, COREY. THANK YOU, MATT. YES, THANK YOU. ONTO OUR I REPS. BILL. YES, THANK YOU. JENNIFER. YES. AND THEN JENNIFER FOR CHRIS. YES. THANK YOU AGAIN, JAY. YES, THANK YOU. THANK YOU. ONTO OUR IOUS, KEITH? YES, THANK YOU, DAVID. YES, THANK YOU COLIN. YES, YOU RICHARD? YES. THANK YOU, SIR. ONTO OUR MUNIS RUSSELL. YES, THANK YOU, JOSE. YES, THANK YOU. AND LET'S SEE, WE LOST DAVID TO HIS MEETINGS, BUT UH, WE GOT DIANA COLEMAN AS HIS STAND IN. DIANA. YES. THANK YOU. AND ALICIA. ALICIA, YOU STILL WITH US? I GOT YOUR YES IN CHAT. THANK YOU. MOTION CARRIES UNANIMOUSLY. THANK Y'ALL. OKAY. DID WE HAVE GORDON TO SPEAK, SPEAK TO THE, SO WE HAVE DAVE ONLINE, SO, UM, DAVE? YES. CAN YOU ALL HEAR ME? UH, BETTER THAN BRENDAN? GO AHEAD DAVE. I'M SORRY. I'LL, I'LL TRY AND TALK. LET'S SEE. ACTUALLY, LEMME SEE IF I CAN DO THAT REAL QUICK AND TURN YOU'RE A LITTLE MUMBLY. ALRIGHT, LET'S SEE IF THIS IS A LITTLE BETTER. UH, UH, REAL QUICK. I, I GUESS JEREMY, THE, THE QUESTION IS WHAT WE'RE LOOKING AT TO DETERMINE WHETHER OR NOT WE'RE GOING TO TAKE THE PRICE CORRECTION TO THE BOARD, THERE'S REALLY SORT OF TWO COMPONENTS TO THAT. UH, THE ISSUE IS CLEARLY A, A SOFTWARE ISSUE WITH ERCOT, BUT THE, WHAT WE'RE KIND OF CONFIRMING IS ONE, CAN WE DETERMINE ACCURATE PRICES AND, AND KIND OF RECREATE WHAT THE DATA OUGHTTA HAVE BEEN. AND THEN TWO, UH, WILL IT MEET THE SIGNIFICANCE CRITERIA? SO THOSE ARE THE TWO COMPONENTS THAT WE'RE JUST CONFIRMING BEFORE WE SEND OUT THE FINAL NOTICE, UH, WITH THE INTENT TO, TO CORRECT PRICES. THANKS. THAT'S HELPFUL. OKAY, JEREMY, YOU GOOD? ALL RIGHT. ANY OTHER, OTHER BUSINESS? OKAY, WE CAN ADJOURN. THANKS EVERYONE. I. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.