Mike Greene returns as Chair, as ERCOT Board whittles down to 19 members.

Austin - The Electric Reliability Council of Texas, Inc. (ERCOT) today announced the members of its 2003 Board of Directors who were elected at its Annual Meeting. The Board will be Chaired by Mike Greene of Oncor Electric Delivery Co. In keeping with the "hybrid" governance structure suggested by the Electric Utility Restructuring Legislative Oversight Committee (LOC) and implemented in recent bylaws amendments, the new Board decreased from 25 to 19 members (and six segment alternates) during elections held at its December 17 meeting.

ERCOT CEO Tom Noel expressed his confidence in the new structure at the close of Tuesday's meeting. "ERCOT already had an outstanding Board," said Noel, "but the recommendations made by Representative Wolens and Senator Fraser to downsize and to add independent members, will make this an exceptional Board by this time next year."

In response to the initiation of the new governance structure, Representative Steven Wolens, Co-Chairman of the LOC said, "I am happy to see that the leadership of ERCOT is responsive to the suggestions of the Oversight Committee. The governance changes show real maturity and positive development in the ERCOT process." LOC Co-Chairman, Senator Troy Fraser added, "We have expected a lot from ERCOT, and we will expect more. New blood in the governance structure will help ERCOT meet the challenges we have set before them."

The new structure, approved by the Public Utility Commission of Texas (PUCT) last week, will add three new "independent" Board positions in June of 2003. Independent Board directors must be unaffiliated with any market participants in the ERCOT market. PUCT Chairman Rebecca Klein said, "ERCOT's inclusion of independent Board directors will add new dimensions to ERCOT Board deliberations and decisions. As a Board member myself, I am excited about the opportunity to work with the new members who will join the Board in June." In December 2003, the Board structure will decrease further to 14 directors representing six "market participant" directors (one each: investor-owned utility, independent power marketer, independent retailer, independent generator, electric cooperative and municipal utility), three consumer directors, three independent directors, the ERCOT CEO, and the Chairman of the PUCT (non-voting).

Mike Greene of Oncor Electric Delivery Co. returned as Chairman of the Board. Robert Manning of H.E.B. Grocery who also returned as co-Chair, joined Greene in introducing the two newest members of the Board: David Veiseh (Utility Choice Electric) and Dottie Stockstill (Mirant Americas E.M.). Members returning for a second term include: Frank Lacey (Strategic Energy); Trudy Harper (Tenaska Energy, Inc.); David Itz (Calpine Corporation); Doug Keegan (Constellation Power Source); Steve Schaeffer (CenterPoint Energy); Bob Kahn (Austin Energy); Milton Lee (City Public Service); Clifton Karnei (Brazos Electric Coop.); Mike Troell (South Texas Electric Coop.); Joe Beal (Lower Colorado River Authority); Suzi McClellan (Office of Public Utility Council); Tom Payton (Occidental Chemical Corp.); and Jill Hall. ERCOT CEO Tom Noel will continue to serve on the Board as will Chairman Klein. Segment alternates for the 2003 Board are: Scott Hart (Texas Commercial Energy); Barry Huddleston (Dynegy Power Corp.); Lynda Clarke (Exelon Generation Co.); Brian Tierney (AEP Service Corp.), Jim Harder (Garland Power and Light); and Jerry Stapp (Big Country Electric Coop).