Powernext Day-AheadTM statistics April 30, 2005

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Market shares Total market

volume

Daily average

Cumulated volume (since 01/01/05)

Peakload volume (daily average)

Off-peak volume (daily average)

Highest Number of

members

Average three most

active members

Five most active members Feb-05 1,480,238 52,866 3,203,258 25,541 27,325 63,246 44 9% 38%

Mar-05 1,546,757 49,895 4,750,015 25,377 24,518 74,437 44 11% 43%

Apr-05 1,588,505 52,950 6,338,520 25,007 27,943 70,931 44 10% 44%

14 366,266 52,324 5,262,807 26,060 26,264 58,873 44 9% 40%

15 352,478 50,354 5,615,285 25,677 24,677 53,840 44 9% 41%

16 356,623 50,946 5,971,908 22,349 28,597 57,055 44 11% 48%

17 417,616 59,659 6,389,524 23,068 36,591 70,931 44 13% 52%

Average Price in €/MWh Variation against previous period (€)

Base 01-24

Peak 09-20

Off peak 1 01-08

Off peak 2 21-24

Volume weighted Base 01-24

Base 01-24

Peak 09-20

Off peak 1 01-08

Off peak 2 21-24 Feb-05 40.213 46.800 31.111 38.656 39.830

Mar-05 50.309 59.960 36.472 49.028 50.345 10.10 13.16 5.36 10.37 Apr-05 40.258 46.330 31.251 40.057 39.800 -10.05 -13.63 -5.22 -8.97 14 39.957 44.797 28.994 42.302 39.955

15 42.860 50.211 30.483 41.497 41.802 2.90 5.41 1.49 -0.81 16 41.949 48.677 30.530 40.956 41.237 -0.91 -1.53 0.05 -0.54 17 37.206 43.038 28.553 37.018 36.756 -4.74 -5.64 -1.98 -3.94

WeekMonthMonthWeek

Traded volumes in MWh

April 30, 2005

Powernext Day-Ahead™: Volume and Base price

0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 55,000 60,000 65,000 70,000 75,000

27/11/01 26/01/02 27/03/02 26/05/02 25/07/02 23/09/02 22/11/02 21/01/03 22/03/03 21/05/03 20/07/03 18/09/03 17/11/03 16/01/04 16/03/04 15/05/04 14/07/04 12/09/04 11/11/04 10/01/05 11/03/05

MWh

0 30 60 90 120 150 180 210 240 270 300

€ / MWh

Daily volume Average price

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Powernext Day-Ahead™ Monthly Overview

Sources : EEX and OMEL

Powernext Day-Ahead™ - Monthly Volume in MWh

0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000

Apr-04

May-04

Jun-04 Jul-04

Aug-04

Sep-04 Oct-04

Nov-04

Dec-04

Jan-05

Feb-05

Mar-05

Apr-05

Monthly Prices in €/MWh

10 15 20 25 30 35 40 45 50 55 60 65

Apr-04

May-04

Jun-04 Jul-04

Aug-04

Sep-04 Oct-04

Nov-04

Dec-04

Jan-05

Feb-05 Mar-05

Apr-05

Baseload Peakload Off-peak 1 Off-peak 2

Monthly Price Spreads in €/MWh

-12 -10 -8 -6 -4 -2 0 2 4 6

Apr-04

May-04

Jun-04 Jul-04

Aug-04

Sep-04 Oct-04

Nov-04

Dec-04

Jan-05

Feb-05 Mar-05

Apr-05 EEX Phelix Day Base EEX Phelix Day Peak OMEL Peakload OMEL Baseload

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Weekly Volume in MWh

0 40,000 80,000 120,000 160,000 200,000 240,000 280,000 320,000 360,000 400,000 440,000

Week2 Week3

Week4 Week5

Week6 Week7

Week8 Week9

Week10 Week11

Week12 Week13

Week14 Week15

Week16 Week17

Weekly Prices in €/MWh

10 16 22 28 34 40 46 52 58 64 70 76 82 88 94 100

Week2 Week3

Week4 Week5

Week6 Week7

Week8 Week9

Week10 Week11

Week12 Week13

Week14 Week15

Week16 Week17

Weekly Price Spreads in €/MWh

-18 -14 -10 -6 -2 2 6 10 14 18 22 26

We ek2

We ek3

We ek4

We ek5

We ek6

We ek7

We ek8

We ek9

We ek10

We ek11

We ek12

We ek13

We ek14

We ek15

We ek16

We ek17 EEX Phelix Day Base EEX Phelix Day Peak OMEL Peakload OMEL Baseload

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Powernext Day-Ahead™ Daily Overview

Daily Volume in MWh

0 10,000 20,000 30,000 40,000 50,000 60,000 70,000

01/04/05 02/04/05

03/04/05 04/04/05

05/04/05 06/04/05

07/04/05 08/04/05

09/04/05 10/04/05

11/04/05 12/04/05

13/04/05 14/04/05

15/04/05 16/04/05

17/04/05 18/04/05

19/04/05 20/04/05

21/04/05 22/04/05

23/04/05 24/04/05

25/04/05 26/04/05

27/04/05 28/04/05

29/04/05 30/04/05

Daily Prices in €/MWh

18 24 30 36 42 48 54 60 66

01/04/05 02/04/05

03/04/05 04/04/05

05/04/05 06/04/05

07/04/05 08/04/05

09/04/05 10/04/05

11/04/05 12/04/05

13/04/05 14/04/05

15/04/05 16/04/05

17/04/05 18/04/05

19/04/05 20/04/05

21/04/05 22/04/05

23/04/05 24/04/05

25/04/05 26/04/05

27/04/05 28/04/05

29/04/05 30/04/05

00/01/00

Daily price spreads in € / MWh

-10 -5 0 5 10 15 20 25

01/04/05 02/04/05

03/04/05 04/04/05

05/04/05 06/04/05

07/04/05 08/04/05

09/04/05 10/04/05

11/04/05 12/04/05

13/04/05 14/04/05

15/04/05 16/04/05

17/04/05 18/04/05

19/04/05 20/04/05

21/04/05 22/04/05

23/04/05 24/04/05

25/04/05 26/04/05

27/04/05 28/04/05

29/04/05 30/04/05

OMEL Baseload EEX Phelix Day Base EEX Phelix Day Peak OMEL Peakload

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Powernext Day-Ahead™ Market resilience

Hourly average prices per week (in €/MWh)

16 22 28 34 40 46 52 58 64

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

Hours

Week 14 Week 15 Week 16 Week 17

Price variations resulting from additionnal purchase and sale orders

0.10 1.10 2.10 3.10 4.10 5.10

50 51 52 53 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

Week

€/MWh

Aditionnal 100 MW purchase and sale order Aditionnal 50 MW purchase and sale order

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Fundamentals : electricity consumption

Source: http://www.rte-France.com

Electricity consumption on the French hub and Powernext Day-Ahead™ price

900,000 1,000,000 1,100,000 1,200,000 1,300,000 1,400,000 1,500,000 1,600,000 1,700,000 1,800,000 1,900,000

01/01/05 04/01/05

07/01/05 10/01/05

13/01/05 16/01/05

19/01/05 22/01/05

25/01/05 28/01/05

31/01/05 03/02/05

06/02/05 09/02/05

12/02/05 15/02/05

18/02/05 21/02/05

24/02/05 27/02/05

02/03/05 05/03/05

08/03/05 11/03/05

14/03/05 17/03/05

20/03/05 23/03/05

26/03/05 29/03/05

MWh

9 19 29 39 49 59 69 79 89 99 109 119 129

€/MWh

Daily Consumption Powernext Day-Ahead™ Baseload Price

April 2005

45,000 50,000 55,000 60,000

Hour 1 Hour 2

Hour 3 Hour 4

Hour 5 Hour 6

Hour 7 Hour 8

Hour 9 Hour 10

Hour 11 Hour 12

Hour 13 Hour 14

Hour 15 Hour 16

Hour 17 Hour 18

Hour 19 Hour 20

Hour 21 Hour 22

Hour 23 Hour 24

MW

25 30 35 40 45 50 55

€/MWh

Average forecasted consumption on D-1 Average price on Powernext Day-Ahead™

March 2005

50,000 55,000 60,000 65,000

Hour 1 Hour 2

Hour 3 Hour 4

Hour 5 Hour 6

Hour 7 Hour 8

Hour 9 Hour 10

Hour 11 Hour 12

05/04/05 07/04/05

09/04/05 11/04/05

13/04/05 15/04/05

17/04/05 19/04/05

21/04/05 23/04/05

25/04/05 27/04/05

29/04/05 0 500 1,000 1,500 2,000 2,500

Daily and yearly allocated export capacity (Daily average in MW) Daily requested export capacity (Daily average in MW) Import/export nominations balance (daily average in MW)

Daily and monthly capacity allocation France-Belgium

0 500 1,000 1,500

01/04/05 03/04/05

05/04/05 07/04/05

09/04/05 11/04/05

13/04/05 15/04/05

17/04/05 19/04/05

21/04/05 23/04/05

25/04/05 27/04/05

29/04/05 Monthly export capacity requested (average in MW) - ELIA Monthly export capacity allocated (average in MW) - ELIA Daily export capacity requested (average in MW) - RTE Daily export capacity allocated (average in MW) - RTE Export nominations (average in MW) Import nominations (average in MW)

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Balancing mechanism

NextWeather France indice and average prices on Powernext Day-Ahead™ over the last 6 months (moving average 7 days)

-8 -7 -6 -5 -4 -3 -2 -1 1 2 3 4 5 6

01/11/04 11/11/04

21/11/04 01/12/04

11/12/04 21/12/04

31/12/04 10/01/05

20/01/05 30/01/05

09/02/05 19/02/05

01/03/05 11/03/05

21/03/05 31/03/05

10/04/05 20/04/05

30/04/05

° C

0.000 6.000 12.000 18.000 24.000 30.000 36.000 42.000 48.000 54.000 60.000 66.000 72.000 78.000 84.000

€ / MWh

Spread between the daily NextWeather France average and its 25-year average Average price on Powernext Day-Ahead™

Half-hourly imbalance settlement prices (€/MWh)

0 50 100 150 200 250 300

01/03/05 04/03/05

07/03/05 10/03/05

13/03/05 16/03/05

20/03/05 23/03/05

26/03/05 29/03/05

01/04/05 05/04/05

08/04/05 11/04/05

14/04/05 17/04/05

26/04/05

€/MWh

Negative imbalance settlement price Positive imbalance settlement price Powernext Day-Ahead™ baseload price

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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 [email protected] [email protected]

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 [email protected] [email protected]

[email protected] Philippe CHAUVANCY : 33 (0) 1 73 03 96 03

Market Operations [email protected]

Bisser ALEXNADROV : +33 (0) 1 73 03 96 12

[email protected]