June 2010: Spot market participants celebrate five years of operations of the New Trading Platform through a market share of 15.3% of the domestic consumption for the third consecutive time above 15%.

DAM: This year’s cumulative values at half-year level indicate higher trades for January - June 2010 compared to the same period of the previous years, the variation related to 2009 being of almost 18%, respectively from 3.3 TWh to 3.8 TWh, corresponding to a half -yearly increase of 1.6% of the market share out of the expected consumption from 13.15% in the first half of the year 2009 to 14.74% this year.

Having a market share which remains at approximately 15.3% of domestic consumption, June 2010 indicates setting of transactions at an average price of 131.78 lei/MWh (31.18 EUR/MWh) and a weighted price of 137.09 lei/MWh (32.43 EUR/MWh), that have reached this month an average of 843 MWh/h.

The spot trades set in June 2010 decreased over the same period of the previous year by almost 1.44%, the total volume decreasing from 615,706.505 MWh last year to 606,842.505 MWh in June 2010, respectively in hourly average values from 855.148 MWh/h to 842.837 MWh/h.

The average price decreased from 139.11 lei/MWh (33.04 EUR/MWh) in June 2009 to 131.78 lei/MWh (31.18 EUR/MWh) in June 2010, the variation being of 5.27% in local currency, respectively 5.64% in the single European currency. The monthly average values corresponding to the hourly electricity transactions set in the European spot markets were placed in June 2010 in a range between 31 EUR/MWh and 60 EUR/MWh, the average price set by OPCOM, 31.18 EUR/MWh, being with almost 29% below the European average, about 44 EUR/MWh.

For the analysed month, a total of 64 of the 102 registered participants were active and the submitted bids were materialized this month in hourly transactions that varied in a range between 455 MWh/h and1,217 MWh/h, 13% of the hourly traded volumes being above 1,000 MWh/h. The volume statistics show transactions amounting at least 600 MWh/h (equivalent to almost 10% of hourly average consumption) in 94% of the hourly intervals of the month. These statistics also show that less than 1% of these intervals had total transactions of less than 500 MWh/h.

There were no problems in meeting the commitments of payment according to terms provided, the total payment obligations/rights of collection for the spot transactions amounting, including VAT, 99 million lei (23.4 million EUR), out of which the payments made in two banking days represented 93.6 million lei (22.1 million EUR), the difference representing the amount of compensation between participants and OPCOM as central counterparty.

CMBC and CMBC-CN: A number of 22 contracts in progress in June 2010, amounting an electricity value of 336,632 MWh contracted by public auction on CMBC at an average price of 162.06 lei/MWh (38.67 EUR/MWh)

On CMBC platform, for contracts with delivery periods including June 2010, 33 participants expressed their interest, with an average of 5 players/ auction session.

Public auctions’ results for June 2010 show 14 winners and 22 concluded contracts, equivalent to a quantity of electricity of 336,632 MWh set in delivery, at an average price of 162.06 lei/MWh (38.67 EUR/MWh) and representing 8.90% of the estimated consumption for this month.

June’s electricity deliveries resulted from the continuous trading process on CMBC-CN platform amounted 14,280 MWh at an average price of 144.59 lei/MWh (34.74 EUR/MWh), equivalent to 85 standard weekly base load contracts.

CMGC: The results of the fourth monthly auction for 2010 increase the number of the green certificates purchased by the suppliers on OPCOM’s platform in order to fulfil the mandatory quota for 2010 to 83,947, equivalent to a share of about 58% of the certificates issued until the trading day.

In order to fulfil the mandatory quota, in the trading session from the 17^th of June 2010, 31 participants of the 103 registered participants expressed their interest and 20,563 green certificates were purchased by electricity suppliers at the price of 232.36 lei/certificate (54.99 EUR/certificate, using the exchange rate valid for the trading day).

In June 2010, the spot transactions alongside the contracts in progress (according to forward transactions), total an electricity amount of 957,755 MWh, both market frameworks providing together 25% of the estimated consumption for this month.

On the green certificates market, a number of 20,563 green certificates were traded centralized during the fourth monthly auction held to meet the mandatory quota for 2010.

PRESS RELEASE 09.07.2010