1. January 14, 2014

2. New logic and invoices used in January 2015 when closing out December 2014 New Bill Determinants: CRRBAFA- CRR Balancing Account Fund Available (current month) CRRBAF- CRR Balancing Account Fund Balance (current / previous month) FUNDCAP- CRR Balancing Account Fund Cap ($10 million) Current Methodology After refunds for CRR shortfalls, distribute any excess funds to load (“close out” the balancing account for the month). CRRs remain short-paid if not enough funds to cover the shortfall. Rolling Balancing Account Fund On a monthly basis, after refunds for CRR shortfalls, deposit any excess into a capped “Rolling Balancing Account Fund” to be used to cover shortfalls in future months. Distribute to load when the funds exceeds the cap ($10 million). Effective JAN 2015

3. Issue with NPRR 485 (Clarification for Fuel Adder Provisions) implementation. Resources with verifiable costs had Fuel Adder (used in mitigated offer cap) incorrectly set to zero due to system error. Fuel Adder compensates Resources with verifiable costs for the actual cost of transporting and purchasing fuel on the spot market. Error caused “over-mitigation” and affected some RTLMP and RTSPP. Resettlements no sooner than 1/14/2015 (36 days from 12/9 Board decision).

4. Notification for 2% Rule RTM Statement TypeRTM_INITIAL RTM Operating Day5/14/2014 Statement Charges$4,975,472.43 2% of $4,975,472.43 = $99,509.45 threshold for 5/14/2014 PR 9.5.6.(2) ERCOT shall issue a RTM Resettlement Statement for a given Operating Day due to data error in data other than prices when the total of all errors in data other than prices results in an impact greater than 2% of the total payments due to ERCOT for the RTM for the Operating Day, excluding bilateral transactions. ERCOT shall issue RTM Resettlement Statements as soon as possible to correct the errors. ERCOT shall review this percentage on an annual basis. Upon the review, ERCOT may make a recommendation to revise this percentage under Section 21, Revision Request Process Resettled Charge TypesResettlement Amount Real-Time Energy Imbalance Amount (RTEIAMT)$ 7,797.40 Real-Time Revenue Neutrality Allocation Amount (LARTRNAMT) $ (7,797.49) ERCOT System Administration Charge Amount (ESACAMT) $ 42.88

5.  ERCOT Market Communication Survey  January or February 2015  Going Forward Topics  RTASIAMT in the Protocols and Matrix still lacks sufficient UOM clarity. Missing some /4, etc., making shadow difficult.  Update of Nodal Settlement Operating Guide.

6. ????