[00:00:03]
[1. Call General Session to Order]
HAGG, COMMITTEE CHAIR.I HEREBY CALL THIS MEETING TO ORDER.
THIS MEETING IS BEING WEBCAST LIVE TO THE PUBLIC ON ERCOT WEBSITE.
BEFORE WE GET STARTED, I'D LIKE TO HIGHLIGHT THE ANTITRUST ADMONITION AND THE SECURITY MAP, WHICH IS LOCATED IN YOUR MATERIALS AND UP ON THE SCREEN.
ALSO, NOTE, WANNA NOTE THAT WE HAVE A VERY, VERY LIGHT GENERAL SESSION AGENDA THAT WILL BE FOLLOWED BY AN EXECUTIVE SESSION MEETING OF THE COMMITTEE.
THE FIRST ORDER OF BUSINESS TODAY IS AGENDA ITEM TWO, NOTICE OF PUBLIC COMMENT, AND IF ANY, TODAY'S MEETING AGENDA WAS POSTED PUBLICLY ON OCTOBER 2ND AND PROVIDED INSTRUCTIONS FOR THE PUBLIC FOR COMMENTING IN PER PERSON.
UH, TO DATE, NO ONE HAS EXPRESSED INTEREST IN COMMENTING.
IS THAT STILL CORRECT, BRANDON? THAT IS CORRECT.
[3. August 19, 2024 General Session Meeting Minutes]
NEXT UP IS, UH, AGENDA ITEM THREE.GENERAL SESSION MEETING MINUTES.
THERE'S A DRAFT OF THE MEETINGS, UH, MINUTES IN YOUR MATERIAL.
DOES ANYONE HAVE ANY COMMENTS ON THE, UH, MINUTES OR WE WANNA MAKE A MOTION? I VOTE.
UM, MAKES THE MOTION TO APPROVE JOHN SECONDS.
A AYE AND E OPPOSED ABSTENTION.
THE MOTIONS UNANIMOUSLY PASSED.
[4. Notice of Annual Committee Self-Evaluation Questionnaire]
NEXT IS, UH, AGENDA ITEM FOUR, NOTICE OF THE ANNUAL COMMITTEE SELF-EVALUATION QUESTIONNAIRE.THIS QUESTIONNAIRE IS DISCUSSED DURING OUR AUGUST 19TH, 2024 MEETING.
UH, UNLESS THERE ARE FURTHER COMMENTS ON THAT, OR ERCOT STAFF WILL ELECTRONICALLY ADMINISTER THE QUESTIONNAIRE TO THE COMMITTEE MEMBERS FOLLOWING TODAY'S MEETING.
UH, WE WOULD LIKE TO HAVE, UH, THE RESPONSES BACK, IF POSSIBLE BY NOVEMBER 1ST.
UH, AND THEN WHAT THE ITEMS WILL BE DISCUSSED AT THE DECEMBER HRG MEETING.
DOES ANYBODY HAVE ANY COMMENTS? THANK YOU.
[5. Recommendation regarding Ratification of Officer]
FIVE, RECOMMENDATION REGARDING RATIFICATION OF OFFICER.THIS IS FOR THE RATIFICATION OF RICHARD SHIELD AS SENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER AND CHIEF RISK OFFICER, EFFECTIVE OCTOBER 2ND, 2024.
UH, DOES ANYONE HAVE ANY COMMENTS OR WISH TO MAKE A MOTION? JOHN MO.
ANY OPPOSED? ABSTENTION, THE MOTIONS UNANIMOUSLY PASSED.
[6. Recommendation regarding Appointment of Non-Independent Manager and Officer of Texas Electric Market Stabilization Funding M LLC (TEMSFM)]
NEXT UP IS AGENDA ITEM SIX, RECOMMENDATION REGARDING APPOINTMENT OF NON-INDEPENDENT MANAGER AND OFFICER OF TEXAS ELECTRIC MARKET STABILIZATION FUNDING MLLC WITH, AND THIS WITH THE DEPARTURE OF SEAN TAYLOR'S, UH, FROM ERCOT AND RICHARD'S NEW POSITION.ERCO STAFF RECOMMENDING THAT THE BOARD APPOINT RICHARD SHIELD IS A NON INDEPENDENT MANAGER AND OFFICER OF KOS FUND M UH, ENTERTAIN A MOTION TO RECOMMEND THAT THE BOARD APPOINT RICHARD SHIELD IS THE NON INDEPENDENT MANAGER AND OFFICER.
ANY OPPOSED EXTENSIONS MOTIONS UNANIMOUSLY PASSED.
[7. Recommendation regarding Appointment of Non-Independent Manager and Officer of Texas Electric Market Stabilization Funding N LLC (TEMSFN)]
UP IS AGENDA ITEM SEVEN, WHICH IS COROLLARY TO WHAT WE JUST VOTED ON, IS RECOMMENDING THAT, UH, THE, THE APPOINTMENT OF NON-INDEPENDENT MANAGER AND OFFICER, UH, TEXAS ELECTRIC MARKET STABILIZATION FUNDING IN, UH, LIKE THE PREVIOUS ITEM WITH MR. UH, TAYLOR'S DEPARTURE WE'RE, UH, PROPOSING THAT RICHARD'S SHIELD HAS A NEW POSITION.COULD I HAVE A MOTION TO THAT EFFECT? JOHN? JOHN MO.
THE MOTIONS UNANIMOUSLY PASSED.
[8. Future Agenda Items]
AGENDA ITEM EIGHT.THANK YOU CHAIR MA SPAC, VP, VP OF HR AT ERCOT.
THERE ARE SEVERAL ITEMS SCHEDULED FOR DISCUSSION IN DECEMBER 1ST, CONTINUATION WITH THE ANNUAL SELF-EVALUATIONS.
REVIEW THE COMPANY'S CERTIFICATE OF FORMATION AND BYLAWS AS WELL AS THE FREQUENCY OF MEETINGS AND THE MEMBERSHIP OF BOARD COMMITTEES.
OVERSEE ASSESSMENT OF COMMITTEE STRUCTURE.
THERE'LL ALSO BE A REVIEW OF THE PERFORMANCE OF OUR ERCOT CEO AND DISCUSS ANY POTENTIAL CHANGES TO HIS COMPENSATION OR EMPLOYMENT TERMS AS NEEDED.
[00:05:01]
REVIEW OF PERFORMANCE AND COMPENSATION OF THE DIRECT REPORTS TO THE CEO AS WELL AS OTHER EXECUTIVES.AND FINALLY, I WILL RETURN IN DECEMBER TO PROVIDE YOU THE BIANNUAL HR OPERATIONS REPORT.
[9. Other Business]
WE MOVE INTO EXECUTIVE SESSION IS THE AGENDA ITEM NINE, OTHER BUSINESS.IS THERE ANY OTHER BUSINESS THAT THAT COMMITTEE MEMBER WISHES TO RAISE? HEARING NONE AT THIS TIME.
[Convene Executive Session]
WILL ADJOURN GENERAL SESSION AND CONVENE AN EXECUTIVE SESSION.THERE ARE NO VOTING ITEMS ANTICIPATED DURING EXECUTIVE SESSION, SO, UH, GENERAL SESSION WILL NOT RECONVENE FOLLOWING THE EXECUTIVE SESSION.
GENERAL SESSION IS, UH, HEREBY ADJOURNED AND THE WEBCAST WILL BE CONCLUDED.