ERCOT - New Chairman, Vice Chairman Elected to ERCOT Board of Directors

PRESS RELEASE

December 20, 2001

New Chairman, Vice Chairman Elected to ERCOT Board of Directors

WHO:	The Electric Reliability Council of Texas, Inc. (ERCOT) Board of Directors.
WHAT:	Jack Hawks (PG&E), formerly Vice Chairman of the Board, was elected to Chairman of the Board. He has served on the Board since 1999, and replaces David McClanahan who was Chairman from 1999-2001. Milton Lee (City Public Service) was elected to Vice Chairman of the Board. He was formerly a Board member in 1997, 2000, and 2001. Six new members were added to the 2002 Board: Doug Keegan (Constellation Power Source); Kathleen Magruder (The New Power Company); Vanus Priestley (AES New Energy); Steve Schaeffer (Reliant Energy); Jerry L. Stapp (Big Country Electric Cooperative); and Gillan Taddune (Green Mountain Energy). Robert Merett (Magic Valley Electric Cooperative), a Board member from 1999-2001 is retiring and has left the Board. The Board is now comprised of 25 members, including Ex Officio Rep. Max Yzaguirre, Chairman of the Public Utility Commission of Texas.
WHEN:	December 18, 2002 at the ERCOT Annual Meeting and the ERCOT Board of Director's meeting in Austin, Texas.

WHO:

The Electric Reliability Council of Texas, Inc. (ERCOT) Board of Directors.

WHAT:

Jack Hawks (PG&E), formerly Vice Chairman of the Board, was elected to Chairman of the Board. He has served on the Board since 1999, and replaces David McClanahan who was Chairman from 1999-2001.

Milton Lee (City Public Service) was elected to Vice Chairman of the Board. He was formerly a Board member in 1997, 2000, and 2001.

Six new members were added to the 2002 Board:

Doug Keegan (Constellation Power Source); Kathleen Magruder (The New Power Company); Vanus Priestley (AES New Energy); Steve Schaeffer (Reliant Energy); Jerry L. Stapp (Big Country Electric Cooperative); and Gillan Taddune (Green Mountain Energy).

Robert Merett (Magic Valley Electric Cooperative), a Board member from 1999-2001 is retiring and has left the Board.

The Board is now comprised of 25 members, including Ex Officio Rep. Max Yzaguirre, Chairman of the Public Utility Commission of Texas.

WHEN:

December 18, 2002 at the ERCOT Annual Meeting and the ERCOT Board of Director's meeting in Austin, Texas.

The Electric Reliability Council of Texas (ERCOT) manages the flow of electric power to 21 million Texas customers – representing 85 percent of the state’s electric load and 75 percent of the Texas land area. As the independent system operator for the region, ERCOT schedules power on an electric grid that connects 38,000 miles of transmission lines and more than 550 generation units. ERCOT also manages financial settlement for the competitive wholesale bulk-power market and administers customer switching for 6 million Texans in competitive choice areas. ERCOT is a membership-based 501(c)(4) nonprofit corporation, governed by a board of directors and subject to oversight by the Public Utility Commission of Texas and the Texas Legislature. ERCOT's members include consumers, cooperatives, independent generators, independent power marketers, retail electric providers, investor-owned electric utilities (transmission and distribution providers), and municipal-owned electric utilities.

Contact
Dottie Roark	512-225-7024