On May 3, 2011, the North American Energy Standards Board (NAESB) submitted a status report to FERC on the second phase of measurement and verification of demand response products and services and the measurement and verification of energy efficiency products and services administered in wholesale electricity markets. The second phase of the demand response standards added more details to the definitions and business practice standards (including for Meter Data Reporting Deadline, Advanced Notification, Telemetry Interval, Meter Accuracy for After-the-Fact Metering, Meter Data Reporting Intervals and Adjustment Window). The energy efficiency standards are designed to create a standardized method for quantifying the energy reduction from energy efficiency measures and include energy efficiency use criteria in the wholesale markets, general requirements for measurement and verification plans and criteria for accepted measurement and verification methodologies. Agenda item E-5 may be an order on NAESB’s report.