1. Gas Regional Initiative – North West Region Governmental Meeting 6 May 2010 – The Hague Secondary capacity markets Project update Betsy ANNEN – CRE Bernhard SCHAEFER – E.ON Ruhrgas

2. 2 Governmental meeting The Hague – 6 th May, 2010 Status of the project  The project: Phase II launched in October 2009 Working group: 15 people with a strong representation of shippers ; 3 platforms (APX, Capsquare, trac-x)  6th SG meeting in Stockholm: Initial observation: low liquidity on secondary capacity platforms Consult shippers’ views on the functioning of the platforms Detailed questionnaire  Detailed questionnaire Detailed questionnaire addressing active and “inactive” shippers Supplemented by analysis of trading data Guarantee of confidentiality: through ERGEG website: Regional initiatives section > Gas > North-West > Priorities 2008/2009 > Secondary Markets  Survey launched mid-April. Distributed by different groups of stakeholders: Platform: trac-x Assocations: BDEW, EFET, Dutch Energiened

3. 3 Governmental meeting The Hague – 6 th May, 2010 Questionnaire  General interest for secondary market  Use of secondary market (seller and buyer sides) Main reasons for trying to sell (or not) capacity Main reasons for trying to buy (or not) capacity  Allocation method Daily auctions, continuous trading…  Counterparty issue Cleared trading, bilateral trading Full counterparty transparency / ex-post counterparty transparency  Products Standardization of capacity amount sold? Which portfolio of capacity products?  Interconnection points What IP include in priority?  Operating hours / trading windows  Transfer of capacity Transfer, assignment, sublet A questionnaire focused on technicalities (13 questions), written in common by the 3 platform operators, TSOs, shippers and regulators.

4. 4 Governmental meeting The Hague – 6 th May, 2010 Next steps  Analysis of the results of the survey. Results will serve as a basis to Further improve products and/or processes? Include additional booking points? Standardize platforms?  Additional reflection on longer term developments Interactions between primary and secondary markets Background induced by FG CAM and comitology CMP and how they affect secondary platforms Background induced by the redefinition of regional initiatives’ role / strategy (3rd Package, FG & NC) A proposal will be formulated by the project group and distributed to the GRI NW members for further discussion

5. 5 Governmental meeting The Hague – 6 th May, 2010 Thank you for your attention ! Betsy ANNEN, CRE – betsy.annen@cre.frbetsy.annen@cre.fr Bernhard SCHAEFER, E.ON Ruhrgas – bernhard.schaefer@eon-ruhrgas.combernhard.schaefer@eon-ruhrgas.com