Common use of Milestones and Timetable Clause in Contracts

Milestones and Timetable. ▪ The NYISO plans to further develop this hybrid proposal with its stakeholders during the third quarter of 2004 and will coordinate with the PJM and ISO-NE efforts in their respective regions. ▪ The NYISO will bring any resulting proposal back to the RAM Group for discussion by the end of 2004. ▪ On March 1, 2004, ISO-NE filed a locational capacity market with the Commission. The design of this market was based strongly on the extant design developed by XXXXX. This filing also commits ISO-NE to engage in an regional dialogue (until December 1, 2005) with its stakeholders to develop a recommendation for long-term resource adequacy. It is expected that the NYISO hybrid proposal will be considered along with RAM and other proposals brought forth by ISO stakeholders. Although it is unclear what design may finally emerge from this process, a key requirement imposed on the development process is to ensure that any proposal finally accepted is compatible with the New York market. ▪ The Partial Unit ICAP Sales project (#4 below) will also improve the ability to trade capacity between regions.