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Approval of Trans Bay Cable Application for PTO Status - Memo

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Summary:

Memorandum to the ISO Operations Committee of the Board of Governors from Mike Dozier, Counsel and Charles A. King, P.E., Vice President of Market Development and Program Management, Dated June 7, 2006, Re: Approval of Trans Bay Cable LLC Participating Transmission Owner Application. Presented at the ISO Operations Committee Meeting, June 14, 2006.

Extract:

EXECUTIVE SUMMARY On September 8, 2005, the ISO Governing Board (“Board”) unanimously approved the Trans Bay Cable Project (“Project”) as the preferred long-term transmission alternative to address reliability concerns regarding the San Francisco peninsula area. In January 2006, Trans Bay Cable LLC (“TBC”) filed an application to be become a Participating Transmission Owner (“Participating TO”) effective on the commercial operation date of the Project, currently projected to be in early 2009. Management believes that adding TBC as a Participating TO will benefit the market by expanding the ISO Controlled Grid and increasing the participation by transmission owners. Management requests that the Operations Committee recommend that the Board accept TBC’s application at this time and that, once TBC executes the Transmission Control Agreement ("TCA"), TBC be allowed to become a Participating TO, subject to the acceptance of TBC’s Transmission Owner Tariff ("TO Tariff") and Transmission Revenue Requirement ("TRR") by the Federal Energy Regulatory Commission (“FERC”). Management believes that this is consistent with the September 8, 2005 Board decision and with prior ISO treatment of other Participating TO applications. TBC will defer filing its TO Tariff and TRR with FERC until closer to the time the Project is expected to reach commercial operation.

Document Locations:

• Operations Committee Meeting 14-Jun-2006