NOTICE DATE: April 8, 2011

NOTICE TYPE: M-A040811-01 CRR

SHORT DESCRIPTION: June 2011First Six Months CRR Auction

INTENDED AUDIENCE: CRR Account Holders

DAYS AFFECTED: April 8 – 22, 2011

LONG DESCRIPTION: Credit Submission for the June 2011 First Six Months CRR Auction will begin at 00:00:01 CPT on April 8, 2011, and will close at 17:00:00 CPT on April 18, 2011.

Per Section 7.5.2(3) of the ERCOT Nodal Protocols, ERCOT will enforce a volume limitation of 10,000 market transactions (bids and offers) per account holder. The CRR Auction Bid window opens at 00:00:01 CPT on April 19, 2011, and closes at 17:00:00 CPT on April 21, 2011.

Per Section 7.5.2(3)(c), if the total number of bids submitted for the auction exceeds 200,000, a second round of bid submissions will be required. CRR Account Holders will be notified via Operator Message. Account Holders whose bids and offers exceed the maximum number of allowable bids/offers determined for the second round will have their portfolios removed from the auction and will be required to resubmit a new portfolio with the total number of bids less than or equal to the second round bid limit. The current bid/offer limit for the second round of the June 2011 First Six Months Auction is set at 1358. Note that this limit is subject to change prior to the running of the auction. The final maximum allowable bids/offers will be listed in the Operator Message should a second auction be necessary.

This second auction, if needed, will be open from 18:00:00 CPT on April 21, 2011, until 12:00:00 CPT on April 22, 2011.

ADDITIONAL INFORMATION: The Baseload CRRs used for the June 2011 First Six Months CRR Auction may be found in the Monthly Auction Notice folder on the CRR Market Information System (MIS) site at https://mis.ercot.com/pps/tibco/mis/Pages/Market+Information/CRR and on the CRR webpage of ERCOT.com at http://www.ercot.com/mktinfo/crr/.

Specifications for the equipment and interfaces necessary to participate in the CRR Auction are included in the CRR Market User Interface Specifications document, which may also be found on the CRR MIS site and on the CRR webpage of ERCOT.com.

The ERCOT Board-approved values for A and M as referenced in Nodal Protocols Section 7.5.5.3(1)(a)(iii) are currently set at $.75/MWh and 0 respectively.

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 the ERCOT CRR Team via email at [log in to unmask].

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