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2007 Budget Calendar

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Summary:

Memorandum to the ISO Finance Committee of the Board of Governors from Ben Arikawa, Senior Financial Analyst; Philip Leiber, Treasurer and Director of Financial Planning; and William J. Regan, Jr., Chief Financial Officer, Dated June 7, 2006, Re: 2007 Budget Calendar. Presented at the ISO Finance Committee of the Board of Governors Meeting, June 13, 2006

Extract:

Each year prior to the initiation of the ISO’s annual budget process, ISO management has developed a calendar with budget-related milestone dates that will lead to the establishment of the subsequent year’s budget and new Grid Management Charge (GMC) rates. Attached to this memorandum is a table containing the proposed timeline for the 2007 budget process. The dates are in accordance with the requirements of the Tariff, and the 2004-2006 GMC Settlement Agreement (“Settlement”), in which the ISO agreed to provide increased opportunities for stakeholder discussion on O&M and capital expenditures and on ISO priorities for the coming year. The Settlement also extended the filing deadline to mid-December from late October to allow for extended consideration of the budget after its initial release in draft form in September. While the Settlement expires on December 31, 2006, the same process will be used for the development of the 2007 budget. Further, the ISO is currently working with stakeholders to extend the primary terms of the Settlement through October 31, 2007 and will provide the Board a status report of such efforts at this Board meeting.

Document Locations:

• Initial Stakeholder Budget Workshop 27-Jun-2006
• Finance Committee Meeting 13-Jun-2006