ERCOT Ancillary Services Swaps

The terms and conditions of the swaps incorporate by reference such credit and other terms as the parties may establish through their pre-existing bilateral agreement. The swaps have the following characteristics:
   
Contract Overview: An agreement to exchange cash flows based on the difference between a fixed price agreed to by the parties and a floating rate based on an ancillary service over a specified term to maturity.
Reference
Ancillary Services:		 ERCOT Regulation Down Service
ERCOT Regulation Up Service
ERCOT Responsive Reserve Service
ERCOT Non-Spinning Reserve Service
Trade Date: As determined by the parties.
Effective Date: The date on which the parties begin calculating their accrued obligations under the swap.
Termination Date: As determined by the parties.
Buyer: Party [A/B]
Seller: Party [B/A]
Fixed Price: As determined by the parties.
Floating Price: As determined by ERCOT
Determination Period: Effective Date through Termination Date.
Payment Date: As determined by the parties.