NOTICE DATE:  June 20, 2008

NOTICE TYPE:  W-A062008-01 Legal

CLASSIFICATION: Public

SHORT DESCRIPTION:  Market Participant Default

INTENDED AUDIENCE:  QSE Financial Personnel

DAY AFFECTED:  June 20, 2008

LONG DESCRIPTION:  Leach Energy Trading, LLC (Leach Energy), a Qualified
Scheduling Entity (QSE) in the ERCOT Region, defaulted under its
Agreement with Electric Reliability Council of Texas, Inc. on June 3,
2008.

Leach Energy has failed to pay Settlement Invoice(s) and therefore ERCOT
will follow the "short payment" procedure stated in Protocol Section
9.4.4, Partial Payments.  ERCOT will send a separate Short Payment
Notice indicating the "Invoice Number" and "Amount Short Paid" by Leach
Energy.  

Please note that there was no Mass Transition associated with this
Market Participant default.

CONTACT:  If you have any questions, please contact your ERCOT Account
Manager. You may also call the general ERCOT Client Services phone
number at (512) 248-3900 or contact ERCOT Client Services via e-mail at
[log in to unmask] <mailto:[log in to unmask]> .

ERCOT's Legal Department is also available should your entity's legal
department have any specific questions.  You may reach Chad V. Seely
([log in to unmask]) at (512) 225 - 7035.

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