Market Participants:

  Following are some significant dates for the Congestion
Reform Project through August 1.  Although we had planned to give you a
schedule through September, dates for significant events after August 1 are
not yet finalized.  We will send you information on future dates as it
becomes available.

  July 11 Release of Draft Congestion Management Package (
Includes Locational Price Dispersion Study)

  July 13-14 Stakeholder meetings to discuss Draft
Congestion Management Package (ISO Headquarters, Folsom)

  July 21 Public release of remaining Congestion Management
Package appendices

  July 24th  Written comments from stakeholders due


  July 24th  Meeting of Market Surveillance Committee


  July 27th  Final Congestion Management Package released
to Board

  August 1st  Board meeting to approve Congestion
Management Package

  Please contact me if you have any questions about this
project.

  Byron Woertz
  Director, Client Relations