1.                   

Call to Order

M. Armentrout

10:00 a.m.

2.                   

Approval of Minutes

• December 13, 2005 Annual Meeting Minutes* (Vote)
• December 13, 2005 Board Meeting Minutes* (Vote)

M. Armentrout

10:05 a.m.

3.                   

Ratification of ERCOT Officers* (Vote)

M. Armentrout

10:10 a.m.

4.                   

Confirmation of TAC Chair and Vice Chair* (Vote)

M. Armentrout

10:15 a.m.

5.                   

Mercer Study Presentation

E. Packwood

10:20 a.m.

6.                   

CEO Report*

• Accomplishments in 2005/Goals for 2006

T. Schrader

10:40 a.m.

7.                   

Operations Update

• Kurten Switch Project* (Vote)
• NERC Letter Report

S. Jones

10:50 a.m.

8.                   

Reliability Compliance Update*

L. Grimm

11:10 a.m.

9.                   

Market Operations Update*

R. Giuliani

11:40 a.m.

10.               

Information Technology Update

R. Hinsley

11:55 a.m.

Lunch

12:00 p.m.

11.               

Nodal Status Report

R. Hinsley

1:00 p.m.

12.               

Financial Update*

S. Byone

1:10 p.m.

13.               

TAC Report

• Protocol Revisions* (Vote)

TAC Chair

1:20 p.m.

14.               

Finance & Audit Committee Report

• 2005 Budget Variance* (Vote)
• Benefit Audit Acceptance* (Vote)

C. Karnei

2:00 p.m.

15.               

HR and Governance Committee Report

• Status of Bylaws Amendments* (Vote)
• Retirement Plan Migration* (Vote)
• Incentive Compensation Plan 2005/2006 (Vote)

B. Kahn

2:20 p.m.

16.               

Other Business

• Status of Market Monitor Project

M. Armentrout

P. Hudson

3:00 p.m.

17.               

Future Agenda Items

M. Armentrout

3:15 p.m.

18.               

Executive Session

• Nominating Committee Report (Vote)¹
• Contract Issue* (Vote)¹
• Litigation Update* (Vote)¹

M. Armentrout

3:25 p.m.

Adjourn

M. Armentrout

4:00 p.m.