POWERNEXT futures statistics October 31, 2006

POWERNEXT FUTURES™ STATISTICS

Total market volume (MW)

Total market volume (MWh)

Daily average (MWh)

Daily average (MW)

Number of members

Open interest (MWh)

Delivery (MWh) August-06 2 269 4 082 203 177 487 99 23 14 008 120 1 188 612 September-06 2 352 4 405 130 209 768 112 23 13 275 842 1 305 612 October-06 4 170 6 822 759 310 125 190 23 12 727 850 1 029 764

Year Contracts October-06

MW MWh Low traded

(€/MWh)

High traded (€/MWh)

Settlement price (end of month)

Settlement price (end of prev.

month)

Variation

Base

2007 230 2 014 800 51,00 57,25 55,92 53,20 5%

2008 90 790 560 52,00 55,20 53,63 53,15 1%

2009 25 219 000 52,00 53,70 52,25 52,70 -1%

Peak

2007 120 422 820 79,75 85,75 84,26 82,13 3%

2008 40 125 760 80,75 84,50 81,75 81,13 1%

2009 10 31 320 81,50 81,50 79,00 80,75 -2%

Quarter Contracts October-06

MW MWh Low traded

(€/MWh)

High traded (€/MWh)

Settlement price (end of month)

Settlement price (end of prev.

month)

Variation

Base

Q1 450 971 550 66,00 74,25 71,93 60,73 18%

Q2 96 209 664 42,75 45,00 45,10 67,00 -33%

Q3 48 105 984 46,70 47,45 47,31 44,25 7%

Q4 45 99 405 57,50 58,00 59,57 46,13 29%

Peak

Q1 50 39 000 104,50 107,00 103,51 85,86 21%

Q2 65 50 700 66,00 68,75 68,70 99,30 -31%

Q3 6 4 680 76,65 76,65 77,83 66,45 17%

Q4 35 27 720 86,50 88,50 86,95 76,30 14%

Month Contracts October-06

MW MWh Low traded

(€/MWh)

High traded (€/MWh)

Settlement price (end of month)

Settlement price (end of prev.

month)

Variation

Base

11/2006 1 570 1 130 400 59,00 66,60 62,63 51,31 22%

12/2006 472 351 168 62,25 69,75 68,12 55,63 22%

01/2007 35 26 040 77,40 77,75 75,90 73,75 3%

Peak

11/2006 671 177 144 85,00 96,50 92,75 67,68 37%

12/2006 72 18 144 90,00 97,50 97,50 94,00 4%

01/2007 25 6 900 107,50 107,50 107,75 96,19 12%

October 31, 2006

1

This document published by POWERNEXT SA is for information purposes only and is not

Baseload contracts overview

Monthly volume in MW

0 500 1000 1500 2000 2500 3000 3500

May-05 Jun-0

5 Jul-05

Aug-05 Sep-05

Oct-05 Nov-05

Dec-05 Jan-0

6 Feb-0

6 Mar-0

6 Apr-06

May-06 Jun-0

6 Jul-06

Aug-06 Sep-06

Oct-06 Yearly contracts Quarterly contracts Monthly contracts

Daily settlement price in €/MWh

36 41 46 51 56 61 66 71 76 81 86 91

03/04/200 6 10/04/200

6 19/04/200

6 26/04/200

6 04/05/200

6 11/05/200

6 18/05/200

6 26/05/200

6 02/06/200

6 12/06/200

6 19/06/200

6 26/06/200

6 03/07/200

6 10/07/200

6 17/07/200

6 24/07/200

6 31/07/200

6 07/08/200

6 14/08/200

6 21/08/200

6 28/08/200

6 04/09/200

6 11/09/200

6 18/09/200

6 25/09/200

6 02/10/200

6 09/10/200

6 16/10/200

6 23/10/200

6 30/10/200

6

Front-Month Front-Quarter Front-Year

Open Interest by Delivery Year in MWh

0 2 000 000 4 000 000 6 000 000 8 000 000 10 000 000 12 000 000 14 000 000

03/04/2006 18/04/2006

28/04/2006 11/05/2006

23/05/2006 06/06/2006

16/06/2006 28/06/2006

10/07/2006 24/07/2006

03/08/2006 15/08/2006

25/08/2006 06/09/2006

18/09/2006 28/09/2006

10/10/2006 20/10/2006 2006 2007 2008 2009

2

This document published by POWERNEXT SA is for information purposes only and is not

Peakload contracts overview

Monthly volume in MW

0 250 500 750 1000 1250 1500 1750 2000 2250 2500 2750

May- 05

Jun-05 Jul-05 Aug-

05 Sep-

05 Oct-

05 Nov-05

Dec-05

Jan-06 Feb-06 Mar-06 Apr-06 May-

06

Jun-06 Jul-06 Aug-

06 Sep-

06 Oct-

06

Monthly contracts Quarterly contracts Yearly contracts

45 50 55 60 65 70 75 80 85 90 95 100 105 110

03/04/200610/04/200619/04/200626/04/200604/05/200611/05/200618/05/200626/05/200602/06/200612/06/200619/06/200626/06/200603/07/200610/07/200617/07/200624/07/200631/07/200607/08/200614/08/200621/08/200628/08/200604/09/200611/09/200618/09/200625/09/200602/10/200609/10/200616/10/200623/10/200630/10/2006 Front-Month Front-Quarter Front-Year

Daily settlement price of the up-coming delivery period in €/MWh during the last six months

Open Interest by Delivery Year in MWh

0 250 000 500 000 750 000 1 000 000 1 250 000 1 500 000 1 750 000 2 000 000

03/04/200612/04/200624/04/200603/05/200611/05/200619/05/200630/05/200608/06/200616/06/200626/06/200604/07/200612/07/200624/07/200601/08/200609/08/200617/08/200625/08/200604/09/200612/09/200620/09/200628/09/200606/10/200616/10/200624/10/2006

2006 2007 2008 2009

3

This document published by POWERNEXT SA is for information purposes only and is not

Market Liquidity

11/2006 Baseload Contract

Q1/2007 Baseload Contract

Cal 2007 Baseload Contract

Availability of a bid-ask spread (in % of the daily trading session total duration)

40%

50%

60%

70%

80%

90%

100%

02/10/06 04/10/06 06/10/06 10/10/06 12/10/06 16/10/06 18/10/06 20/10/06 24/10/06 26/10/06 30/10/06

Average bid-ask spread

0 1 2 3

02/10/06 04/10/06

06/10/06 10/10/06

12/10/06 16/10/06

18/10/06 20/10/06

24/10/06 26/10/06

30/10/06

€/MWh

0 5 10 15 20 25

Lots

Average volume on the spread Average bid-ask spread

Average bid-ask spread

0 0,2 0,4 0,6 0,8 1 1,2 1,4 1,6 1,8 2 2,2 2,4 2,6 2,8 3

02/10/06 04/10/06

06/10/06 10/10/06

12/10/06 16/10/06

18/10/06 20/10/06

24/10/06 26/10/06

30/10/06

€/MWh

0 5 10 15 20 25

Lots

Average volume on the spread Average bid-ask spread

Availability of a bid-ask spread (in % of the daily trading session total duration)

40%

50%

60%

70%

80%

90%

100%

02/10/06 04/10/06 06/10/06 10/10/06 12/10/06 16/10/06 18/10/06 20/10/06 24/10/06 26/10/06 30/10/06

Average bid-ask spread

0 0,2 0,4 0,6 0,8 1 1,2

02/10/06 04/10/06

06/10/06 10/10/06

12/10/06 16/10/06

18/10/06 20/10/06

24/10/06 26/10/06

30/10/06

€/MWh

0 1 2 3 4 5 6 7 8 9 10

Lots

Average volume on the spread Average bid-ask spread

Availability of a bid-ask spread (in % of the daily trading session total duration)

40%

50%

60%

70%

80%

90%

100%

02/10/06 04/10/06 06/10/06 10/10/06 12/10/06 16/10/06 18/10/06 20/10/06 24/10/06 26/10/06 30/10/06

4

This document published by POWERNEXT SA is for information purposes only and is not

11/2006 Peakload Contract

Q1/2007 Peakload Contract

Cal 2007 Peakload Contract Average bid-ask spread

0 1 2 3 4

02/10/06 03/10/06

04/10/06 05/10/06

06/10/06 09/10/06

10/10/06 11/10/06

12/10/06 13/10/06

16/10/06 17/10/06

18/10/06 19/10/06

20/10/06 23/10/06

24/10/06 25/10/06

26/10/06 27/10/06

30/10/06

€/MWh

0 5 10 15 20 25

Lots

Average volume on the spread Average bid-ask spread

Availability of a bid-ask spread (in % of the daily trading session total duration)

40%

50%

60%

70%

80%

90%

100%

02/10/06 04/10/06 06/10/06 10/10/06 12/10/06 16/10/06 18/10/06 20/10/06 24/10/06 26/10/06 30/10/06

Average bid-ask spread

0 1 2 3 4 5 6 7 8

02/10/06 04/10/06

06/10/06 10/10/06

12/10/06 16/10/06

18/10/06 20/10/06

24/10/06 26/10/06

30/10/06

€/MWh

0 5 10 15 20 25

Lots

Average volume on the spread Average bid-ask spread

Availability of a bid-ask spread (in % of the daily trading session total duration)

40%

50%

60%

70%

80%

90%

100%

02/10/06 04/10/06 06/10/06 10/10/06 12/10/06 16/10/06 18/10/06 20/10/06 24/10/06 26/10/06 30/10/06

Average bid-ask spread

0 1 2 3 4 5

02/10/06 04/10/06

06/10/06 10/10/06

12/10/06 16/10/06

18/10/06 20/10/06

24/10/06 26/10/06

30/10/06

€/MWh

0 1 2 3 4 5 6 7 8 9 10

Lots

Average volume on the spread Average bid-ask spread

Availability of a bid-ask spread (in % of the daily trading session total duration)

40%

50%

60%

70%

80%

90%

100%

02/10/06 04/10/06 06/10/06 10/10/06 12/10/06 16/10/06 18/10/06 20/10/06 24/10/06 26/10/06 30/10/06

5

This document published by POWERNEXT SA is for information purposes only and is not

CONTACTS

Powernext S.A. Marketing Marketing and Sales

25, rue Louis Le Grand Audrey MAHUET : 33 (0) 1 73 03 96 05 Thierry CAROL : 33 (0) 1 73 03 96 04

75002 PARIS a.mahuet@powernext.fr t.carol@powernext.fr

tél. +33 (0)1 73 03 96 00 Sovann KHOU : 33 (0) 1 73 03 96 07 Richard KATZ : 33 (0) 1 73 03 96 02

fax +33 (0)1 73 03 96 01 s.khou@powernext.fr r.katz@powernext.fr

information@powernext.fr Philippe CHAUVANCY : 33 (0) 1 73 03 96 03

p.chauvancy@powernext.fr

6

This document published by POWERNEXT SA is for information purposes only and is not