BIC MAY 24 MTG Agenda Item 5B ICAP ,
 Attached is an additional motion to support the Stage 2 ICAP proposed
Tariff, which is Agenda Item 5B for the May 24 BIC meeting.

As you may know, the translation of the In-City price cap from ICAP to UCAP
is a pending item from the proposed ICAP Manual. The ICAP Working Group
concluded at its last meeting that, if the parties could not agree upon a
translation number, the matter should be taken to FERC for a decision.

FERC Staff has agreed that FERC will take up the issue if no consensus is
reached. Alternative positions on the translation issue will be laid out in
the cover letter to the Tariff filing; comments from any party interested in
filing on the translation issue would be due ten business days after the ISO
files the proposed Tariff. The attached motion seeks approval for this
approach.

The ICAPWG may withdraw the motion if consensus is reached before the BIC
meeting.

If you have any questions, please contact Howard Fromer, chair of the
ICAPWG, or me.

Kathy Robb
Hunton & Williams
212.309.1128
krobb@hunton.com

 <<motion for Kathy .doc>>


 - motion for Kathy .doc
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