1. 10/11/2011 COPS Schedule for Upcoming Resettlements ERCOT Mandy Bauld

2. 2 Plan for Resettlements Impact to 74 Operating Days, spanning Dec – Apr –Dec 2010: 28 days –Jan 2011: 10 days –Feb 2011: 10 days –Mar 2011: 23 days –Apr 2011: 3 days 1 DAM Resettlement executed in a “settlement batch” 1 DAM Resettlement to post each business day (3 on Tuesdays ) DAM Resettlements have their own DAM Invoice For each DAM resettled, the RTM will be resettled –Maintain at least a 10d separation between DAM and RTM February 10, 2009

3. 3 Plan for Resettlements Start in early November - Complete in early March –Tentative plan to post 12/3/10 on 11/3/11, 12/4/10 on 11/4/11, 12/5/10 on 11/7/11, and so on –Blackout periods during holiday weeks Settlement Calendar to reflect the schedule by 10/28 A Market Notice will be sent for each resettled Operating Day –Protocol required (9.2.6 and 9.5.7) Process to distribute excess congestion rent (i.e., “resettlement” of the Balancing Account Closure) – details WIP ADRs may require resettlement of additional Operating Days February 10, 2009

4. 4 Appendix February 10, 2009

5. 5 Market Notice – 10/6/2011 NOTICE DATE: October 6, 2011 NOTICE TYPE: M-C061011-04 Settlements SHORT DESCRIPTION: ERCOT Board approves revision to price corrections for certain Operating Days covering December 3, 2010 – April 5, 2011 INTENDED AUDIENCE: QSE and CRRAH settlement personnel DAYS AFFECTED: October 6 and 7, 2011 LONG DESCRIPTION: On June 10, 2011, ERCOT issued Notice M-C061011-01 announcing its intention to request a price correction on some Settlement Point Prices (SPPs) assigned to de-energized Settlement Points in the Day-Ahead Market (DAM) for certain Operating Days covering December 3, 2010 – April 5, 2011. On July 26, 2011, ERCOT issued Notice M-C061011-02 announcing that the ERCOT Board considered the price correction request at its meeting on July 19, 2011, and approved the price correction as recommended by ERCOT Staff. All price correction files were posted on July 25, 2011. On August 16, 2011, ERCOT issued Notice M-C061011-03 announcing that ERCOT identified Operating Days and Settlement Points that were not included in the original analysis. ERCOT introduced this issue to the ERCOT Board at its meeting on August 16, 2011, and requested a price correction revision at the ERCOT Board meeting on September 20, 2011. The revision was reviewed and approved by the ERCOT Board. For the price correction revision, ERCOT has prepared two sets of files; one set to un-do the previous price correction and the other set to provide the revised price correction. The set of files to un-do the previous price correction were posted on October 6, 2011. The set of files with the revised price correction will be posted on October 7, 2011. Note that in the un-do files, Original_LMP and Original_SettlementPointPrice are the Corrected_LMP and Corrected_SettlementPointPrice from the previous price correction. The Corrected_LMP and Corrected_SettlementPointPrice are the original LMP and Settlement Point Price before the price correction. ADDITIONAL INFORMATION: The revised Settlement Point Prices, in both CSV and XML formats, can be found in the DAM Price Corrections folder located at http://www.ercot.com/mktinfo/prices/.http://www.ercot.com/mktinfo/prices/ A follow-up Notice will be sent regarding the schedule for resettlements.

6. 6 Market Notice – 8/16/11 NOTICE DATE: August 16, 2011 NOTICE TYPE: M-C061011-03 Settlements SHORT DESCRIPTION: ERCOT Board to reconsider price corrections for certain Operating Days covering December 3, 2010 – April 5, 2011 INTENDED AUDIENCE: QSE and CRRAH Settlement Personnel DAYS AFFECTED: Certain Operating Days covering December 3, 2010 – April 5, 2011 LONG DESCRIPTION: On June 10, 2011, ERCOT issued Notice M-C061011-01 announcing its intention to request a price correction on some Settlement Point Prices (SPPs) assigned to de-energized Settlement Points in the Day-Ahead Market (DAM) for certain Operating Days covering December 3, 2010 – April 5, 2011. On July 26, 2011, ERCOT issued Notice M-C061011-02 announcing that the ERCOT Board considered the price correction request at its meeting on July 19, 2011, and approved the price correction as recommended by ERCOT Staff. After further review, ERCOT identified Operating Days and Settlement Points that were not included in the original analysis. ERCOT announced this issue to the ERCOT Board at its meeting on August 16, 2011, and informed the Board that modified analysis will be provided to the Board and approval, based upon the modified analysis, will be requested at the September Board meeting. Therefore, resettlement of the impacted Operating Days must be postponed pending approval at the September Board meeting. ADDITIONAL INFORMATION: The corrected Settlement Point Prices were posted in both CSV and XML formats in the DAM Price Corrections folder located at http://www.ercot.com/mktinfo/prices/.http://www.ercot.com/mktinfo/prices/ A follow-up Notice will be sent regarding the schedule for resettlements. CONTACT: If you have any questions, please contact your ERCOT Account Manager. You may also call the general ERCOT Client Services phone number at (512) 248-3900 or contact ERCOT Client Services via email at ClientServices@ercot.com.ClientServices@ercot.com If you are receiving email from an ERCOT distribution list that you no longer wish to receive, please follow this link in order to unsubscribe from this list: http://lists.ercot.com.http://lists.ercot.com

7. 7 Market Notice – 7/26/11 NOTICE DATE: July 26, 2011 NOTICE TYPE: M-C061011-02 Settlements SHORT DESCRIPTION: ERCOT Board approval of price corrections for Day-Ahead energized Settlement Points with incorrect SPPs and LMPs due to a software error INTENDED AUDIENCE: QSE and CRRAH Settlement Personnel DAYS AFFECTED: Certain Operating Days covering December 3, 2010 – April 5, 2011 LONG DESCRIPTION: On June 10, 2011, ERCOT issued Notice M-C061011-01 announcing its intention to request a price correction on some Settlement Point Prices (SPPs) assigned to de-energized Settlement Points in the Day-Ahead Market (DAM) for certain Operating Days covering December 3, 2010, through April 5, 2011, at the next regularly scheduled ERCOT Board of Directors (ERCOT Board) meeting. After further discussion, the ERCOT Board did consider the price correction request at its meeting on July 19, 2011, and approved the price correction as recommended by ERCOT Staff. All supporting documentation may be located at ERCOT - Board of Directors Meeting (July 19, 2011) under Agenda Item No.05.ERCOT - Board of Directors Meeting (July 19, 2011) The corrected Settlement Point Prices will be posted in both CSV and XML formats in the DAM Price Corrections folder located at http://www.ercot.com/mktinfo/prices/. http://www.ercot.com/mktinfo/prices/ ADDITIONAL INFORMATION: A follow-up Notice will be sent regarding the schedule for resettlements. CONTACT: If you have any questions, please contact your ERCOT Account Manager. You may also call the general ERCOT Client Services phone number at (512) 248-3900 or contact ERCOT Client Services via email at ClientServices@ercot.com.ClientServices@ercot.com If you are receiving email from an ERCOT distribution list that you no longer wish to receive, please follow this link in order to unsubscribe from this list: http://lists.ercot.com.http://lists.ercot.com