NOTICE DATE: May 18, 2012

NOTICE TYPE: W-A011012-03 Settlements

SHORT DESCRIPTION: ERCOT Board reversal of its previous approval of an RTM Settlement Point Price correction for DC_N

INTENDED AUDIENCE: QSE and CRRAH settlement personnel

DAY AFFECTED: Operating Day November 24, 2011

LONG DESCRIPTION: On January 10, 2012, ERCOT issued Notice W-A011012-01 announcing its intention to request a price correction on the Settlement Point Prices (SPPs) assigned to de-energized Settlement Point DC_N (Electrical Bus DCTM_L_A) in the Real-Time Market (RTM) for Settlement Intervals 74 (18:15:11) to 95 (23:25:10) for Operating Day November 24, 2011.

ERCOT had a preliminary discussion of the issue at the ERCOT Board of Directors (Board) meeting on January 17, 2012. After further discussion, the Board approved the price correction request at its meeting on February 21, 2012, as recommended by ERCOT Staff.

On February 27, 2012, ERCOT issued Notice W-A011012-02 announcing the Board approved price correction, and the corrected Settlement Point Prices were also posted on that date.

On May 8, 2012, ERCOT Legal recommended that the Board reconsider its February 21, 2012, price correction approval. At the Board meeting on May 15, 2012, the Board accepted ERCOT Legal’s recommendation to reverse the price correction for Operating Day November 24, 2011.

For the price correction reversion, ERCOT will prepare one set of files to un-do the previous price correction. This set of files will be posted on May 18, 2012, in both CSV and XML formats in the RTM Price Corrections folder located at http://www.ercot.com/mktinfo/prices/.

ADDITIONAL INFORMATION: Supporting documentation may be located at ERCOT - Board of Directors Meeting (May 15, 2012), under Key Documents Item No.08.

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 email at [log in to unmask].

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