PRESS RELEASE
October 18, 2004
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ERCOT Board of Directors Meeting - October 19 in Austin, Texas

7620 Metro Center Drive, Austin Texas
October 19, 2004; 10:00 a.m. to 5:00 p.m.*

1. Call to Order Mike Greene 10:00 a.m.*
2. Approval of Minutes (Vote) Mike Greene 10:05 a.m.*
3. CEO Report Tom Schrader 10:10 a.m.*
4. Operations Update
  • AEP Construction of Power Lines
  • Approval of Ancillary Services Methodology (Vote)
 Sam Jones 10:20 a.m.*
5. Financial Update Maxine Buckles 10:40 a.m.*
6. 2005 Budget Sam Jones
Ray Giuliani
Maxine Buckles
Margaret Pemberton		 10:50 a.m.*
Lunch 12:10 p.m.*
7. Finance and Audit Committee Report
  • Foreign Guarantee Agreement (Vote)
  • Short Payment Issues (Possible Vote)
 Clifton Karnei 1:00 p.m.*
8. TAC Report
  • Protocol Revisions (Vote)
Read Comstock 1:20 p.m.*
9. TNT Update Trip Doggett 2:45 p.m.*
10. H.R. & Governance Committee Report
  • Approval of Annual Meeting Location (Vote)
Bob Kahn 3:15 p.m.*
11. Other Business
  • Membership Notice
Mike Greene 3:45 p.m.*
12. Executive Session
  • Personnel Matters (Vote)
  • Contract Issues (Vote)
  • Litigation Update
Mike Greene 4:00 p.m.*
13. Adjourn Mike Greene 5:00 p.m.*

*All times shown in the Agenda are approximate.

If you have an interest in attending this meeting, please contact ERCOT director of communications, Heather Tindall, at 512-225-7023, cell 512-750-5456, or e-mail: htindall@ercot.com.

Board meetings are held at ERCO-Austin located at 7620 Metro Center Drive, Austin, Texas. The next board meeting will be November 16, 2004. The December board meeting will be held the second Tuesday of the month, December 14, 2004 in conjunction with the annual meeting.

Most ERCOT meetings, including open session meetings of the board and meetings of TAC and its subcommittees and working groups, are open to the public. The only exceptions to the open meeting policy are executive sessions of the board, at which personnel issues, contracts, or litigation are discussed; and certain meetings at which protected market information is examined by a restricted audience. (RSVPs to the meetings are requested to ensure adequate accommodations, but are not required for attendance.)

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