1.      

Call to Order

M. Armentrout

10:00 a.m.

2.      

Consent Agenda (Items 3a, 3b, 4, 11a, 12a)

M. Armentrout

10:05 a.m.

3.      

Executive Session

a.      Approval of April 18, 2006 Minutes* (Vote)** & ***

b.      Contracts* (Vote)** & ***

c.       Personnel

d.      Litigation

M. Armentrout

10:10 a.m.

4.      

Approval of April 18, 2006 Minutes* (Vote)**

M. Armentrout

11:10 a.m.

5.      

CEO/Operating Report*

a.      EECP Status*

T. Schrader

K. Saathoff

11:15 a.m.

6.      

Operating Reports (Q&A Only)

a.      Financial Summary Report*

b.      Market Operations Report*

1)   Proposed NYMEX*

c.       IT Report*

d.      Compliance Report*

S. Byone

R. Giuliani

R. Hinsley

L. Grimm

11:30 a.m.

7.      

Nodal Status Report

R. Hinsley

11:45 a.m.

8.      

Lunch

12:00 p.m.

9.      

2006 Reforecast and 2007 Budget Planning ? Assumptions* (Briefing & Request for Public Comment)

S. Byone

1:00 p.m.

10.  

Capital Projects Update*

S. Byone

1:30 p.m.

11.  

TAC Report

a.      Protocol Revisions* (Vote)**

R. Comstock

2:00 p.m.

12.  

Finance & Audit Committee Report

a.      2005 Audited Financial Statements* (Vote)**

C. Karnei

S. Byone

2:15 p.m.

13.  

H.R. & Governance Committee Report

B. Kahn

2:35 p.m.

14.  

Market Participant Survey

R. Gruber

3:00 p.m.

15.  

Other Business

M. Armentrout

3:30 p.m.

16.  

Board Yearly Schedule*

M. Armentrout

3:35 p.m.

17.  

Future Agenda Items*

M. Armentrout

3:40 p.m.

18.  

Adjourn

M. Armentrout

3:45 p.m.