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Market Operations Presentation Board of Director’s Meeting October 18, 2005

Market Operations Presentation Board of Director’s Meeting October 18, 2005. Agenda. Retail Activity. Overall Activity Migration From Native AREPs Performance Measures (Quarter Only) Reliability Services Balancing Services Hub Summary Data Congestion Management Services.

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Market Operations Presentation Board of Director’s Meeting October 18, 2005

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  1. Market Operations Presentation Board of Director’s Meeting October 18, 2005

  2. Agenda Retail Activity • Overall Activity • Migration From Native AREPs • Performance Measures (Quarter Only) • Reliability Services • Balancing Services • Hub Summary Data • Congestion Management Services Wholesale Activity Other Items

  3. Retail Transactions Summary since June 1, 2001 As of Wednesday, August 31, 2005 Transaction Type Switches 2,077,826 Move - Ins 7,268,713 Move Out 4,195,391 CSA 1,247,586 Drop to POLR 304,773 Total 15,094,289 Compared to Last Month 468,247 Overall Activity

  4. Migration from Native AREP % of Load * % of ESI IDs Residential Small Non-Residential Large Non-Residential at 08-31-05 at 08-31-05 at 08-31-04 33% 78% 74% 26% 30% 73% 18% 22% 62% * % of Peak Demand on 08-03-04

  5. August YTD ($'s in millions) ($'s in millions) 08/31/05 08/31/04 2005 2004 Market Perspective: • Approximate Retail Market $20,136.3 19,493.4 3,200.5 2,979.6 (at $.10/kWh PTB) Volume (GWh) 201,363 194,934 32,005 29,796 % Increase 3.3% 7.4% Natural Gas Price Index ($/MMBTU) 7.1 5.7 9.1 5.4 % Increase 23.7% 68.6% RMR: • RMR Capacity and Start Up 31.1 26.8 4.9 3.9 RMR Energy 133.3 148.6 28.8 34.5 BENA Credit -101.6 -97.5 -23.4 -24.4 Net RMR 62.8 77.9 10.3 14.0 Other Capacity Services: • Replacement Reserve 0.0 0.0 0.0 0.0 Reg Up and Down 97.1 32.2 12.0 2.5 Responsive (Spinning) Reserve 93.3 33.2 13.9 2.9 Non-Spinning Reserve 27.6 3.5 6.7 0.4 Black Start 4.6 4.9 0.6 0.6 TOTAL RELIABILITY SERVICES $285.4 151.7 43.5 20.4 Reliability Services

  6. August YTD ($'s in millions) ($'s in millions) 08/31/05 08/31/04 2005 2004 Market Perspective: • Approximate Retail Market $20,136.3 19,493.4 3,200.5 2,979.6 (at $.10/kWh PTB) Volume (GWh) 201,363 194,934 32,005 29,796 % Increase 3.3% 7.4% Natural Gas Price Index ($/MMBTU) 7.1 5.7 9.1 5.4 % Increase 23.7% 68.6% Balancing Energy: • Balancing Energy - Up $598.8 276.6 156.9 37.4 % Increase 116.5% 319.5% Up (GWh) 7,805.5 5,866.1 1,434.8 979.9 % Increase 33.1% 46.4% % of Market 3.9% 3.0% 4.5% 3.3% Balancing Energy - Down -$167.9 -227.6 -25.2 -24.3 % Increase -26.2% 3.7% Down (GWh) -3,518.4 -5,034.9 -436.9 -700.3 % Increase -30.1% -37.6% % of Market 1.7% 2.6% 1.4% 2.4% Balancing Services

  7. Hub Summary Data • ERCOT Hubs Weighted Average Price ($/MWH) June 2005 August 2005 July 2005 May 2005 HUB $62.27 $58.27 South $84.76 $77.03 $75.23 $60.77 North $81.62 $106.76 $80.92 $67.43 Houston $87.38 $115.75 $80.11 $68.90 West $121.16 $92.23 $73.43 $62.80 ERCOT Hub $103.10 $83.24 $74.46 $62.69 ERCOT Bus $105.09 $83.26 18.8% % Change - Bus 26.2% 11.8% 12.6% 21.3% NGPI % Change 3.9%

  8. August YTD ($'s in millions) ($'s in millions) 08/31/05 08/31/04 2005 2004 Market Perspective: • Approximate Retail Market $20,136.3 19,493.4 3,200.5 2,979.6 (at $.10/kWh PTB) Volume (GWh) 201,363 194,934 32,005 29,796 % Increase 3.3% 7.4% Natural Gas Price Index ($/MMBTU) 7.1 5.7 9.1 5.4 % Increase 23.7% 68.6% Local Congestion: • OOMC 36.3 66.8 7.5 10.5 "Market Solution" Down 0.0 0.0 0.0 0.0 "Market Solution" Up 0.0 0.0 0.0 0.0 OOME - Down 31.6 40.9 3.2 5.6 OOME - Up 13.6 15.6 3.2 1.2 Total Local Congestion Costs $81.5 $123.3 $13.9 $17.3 Zonal Congestion: • TCR Auction Revenue from TCR Holders 26.2 24.7 7.0 3.3 Direct Assignment Revenue Paid by QSEs based on schedules 45.2 21.3 17.4 1.7 TCR/PCR Payments including Auction Revenue Refunds (70.1) (25.2) (32.5) (2.3) BENA (Charge) Credit $1.3 $20.8 ($8.1) $2.7 Congestion Management Services

  9. Other Items • Added QSEs • Added Reps • Green Mountain Energy Company Supplemental • Trieagle Energy Company d/b/a Pilot Energy • Trieagle Energy Company d/b/a Power House Energy • Green Mountain Energy Company • JP Morgan Chase Bank NA

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