1. Day Ahead Auctions Making progress, Jour Fixe 3rd Jour Fixe 31st of May Chair DTe Slides for the day

2. Day Ahead Auctions Making progress, Jour Fixe Opening speech Chair 31 May Hague

3. 3 Day Ahead Auctions Making progress, Jour Fixe Contents Where we stand? Where we came from? Where are we going?

4. 4 Day Ahead Auctions Making progress, Jour Fixe Where do we stand? We cut the patient open and are ready to make him better.

5. 5 Day Ahead Auctions Making progress, Jour Fixe Where do we came from in this process? The puzzle didn’t fit: secondary market didn work.

6. 6 Day Ahead Auctions Making progress, Jour Fixe Where are we heading by q407-q108? Platform(s) TSOsRegulators Market players (i.a. EFET) Pilot live !

7. Day Ahead Auctions Making progress, Jour Fixe Final conclusions 31 May Hague

8. 8 Day Ahead Auctions Making progress, Jour Fixe Process on way forward to pilot live (sec. firm) 3. Implement 4. Pilot live 1. Evaluate Situation 2. Finalize specs December – 31st of May Advise on specs. Ressouce availability/implem- entation time Anchor on specs. Decide on and build a web platform Connect to TSO’s and shippers Q407-q108 Timeline TSO’s Platform Operator(s) Develop Standard contract (6 weeks) Market: EFET; EG Manage Project and Communications: adress legal bottlenecks; open issues and keep pressure. Crucial moments: 19 June; 22 June; 30 June final; ? Presentation for comments; 12-16 October live announcement. Manage Project and Communications: adress legal bottlenecks; open issues and keep pressure. Crucial moments: 19 June; 22 June; 30 June final; ? Presentation for comments; 12-16 October live announcement. Regulators Buy and sell June q307 Implement start: Preparation Implement start: Preparation Implement end: Actual change effected! Implement end: Actual change effected! Go live! Intefaces platform/TSOs Intefaces platform/shippers 3 hrs utilisation lead time (depending on specs.) Present ‘pilot’on pilot Advise on specs.

9. 9 Day Ahead Auctions Making progress, Jour Fixe Minutes Jour Fixe 31st May 2007 Need for public statement from regulators on general green light Legal Task force conclusion: No legal bottlenecks with respect to secondary firm. Conclusion: Pilot is limited to secondary firm in phase 1. Phase 1 runs until ‘Go live’ on sec. firm. Conclusion: Day ahead based on Transfer. Homework for phase 2 (prim. Interr.) begins (of course) during phase 1 Homework for phase 2 will be considered on 19th June 2007 Conclusion: Tentative ‘Go live’ date is defined on 19th June 2007 Conclusion: ‘Go live’ date is between 1st Oct. 2007 and 31st March 2008

10. 10 Day Ahead Auctions Making progress, Jour Fixe Minutes Jour Fixe 31st May 2007 Homework for 19th (18th – 21st) June 2007: TSOs Advice on specs. Reconsider time schedule for day ahead Report on implementation time (3 hours utilisation lead time) Legal task force Clarification on GE ‘significantly’ higher. Clarifies EU leg. view on price cap. Proposal: Platform is not covered by GE leg., so solution could be to let platform act as counterpart. Clarification on single playform. Clarification on contractial relations. EFET Advice on specs. Confirm auction (yes/no), timing details and succes factors to Platform operators before 6th June Reconsider time schedule for day ahead Present draft succes factors based on advice from platform operators Advice legel TF on contracts to be implaced Platform operators Send around draft specs. 15th June 2007 (8 am CET) Report on decision cycle on ‘go’/’no go’ Succes factors based on advice from EFET Pilot evaluation schedule: Every 3 months running from ‘Go live’ with an indicative duration of one year No barriers to new entrance in pilot (other cross border points) Choice of platform: Competition prevails Platform board of directors decide upon results of 19th June Everybody sends documents to Fiete

11. 11 Day Ahead Auctions Making progress, Jour Fixe Draft time schedule for day ahead (CET) 0900 Auction 1000 Results to TSOs 1000-1300 TSOs handle changes in capacity utilisation 1400Nomination begins