PRESS RELEASE

(Bucharest, 1st April 2008) March 2008 - DAM: traded volume increasing about 34% in first quarter of 2008 related to the same period last year. CMBC: 18.26% of internal energy consumption for the first three months of the year 2008 was contracted on the OPCOM market place. CMGC: in the first auction for the year 2008, 40% of the green certificates issued up to the present was traded in order to fulfil the mandatory quota for 2008.

If in the first quarter of 2007 the growth related to the first three month of 2006 was 22%, in the first quarter of this year, the traded volume on spot market increased its value with 34% related to the same period of the previous year, following up the positive trend for the beginning of 2008.
On the centralized bilateral market, in the first quarter of this year, the previous contracted volume represents the maximum for 2006-2008 period; this is the period when the contracts were concluded based on the auctions performed on this market.
Both markets secured together in the first quarter of this year, in a competitive and transparent framework, almost 28% of the internal net energy consumption.
On the centralized market for green certificates organized by OPCOM, even from the first auction, the energy suppliers of the final consumers purchased almost 40% of the green certificates issued up to the present, in order to fulfil the mandatory quota for 2008.

Day ahead Market

The energy volume traded on DAM in the first quarter of 2008 increased with 34% related to the first three months of the previous year, respectively from 1,107,678 MWh to 1,488,865 MWh. The market share corresponding to these figures grew from 8% in the first quarter of 2007 to 10% in the first quarter of 2008. In hourly average values, if in the first quarter of 2007 were traded on an average 513 MWh/h, in the first three months of this year the average volume traded hourly on DAM was almost 682 MWh/h.
At monthly level, the energy volume traded on DAM and the corresponding share increased related to March 2007, based on the fact that 65 participants sent at least an offer this month.
• The average energy volume traded in March was approximately 600 MWh/h at an average price of 40.36 EUR/MWh, decreasing with 24% related to February.
• Trades were concluded and therefore the spot price was established in all hourly intervals of this month. The hourly traded volumes varied between 375 MWh/h and 958 MWh/h. All the 65 participants who offered established at least one trade.
• This month’s share in the internal forecasted consumption was 9.24%, higher with approximately 5% confronted by March 2007.
The traded energy value of this month was 18,227,434.17 EUR, being approximately constant confronted by the value from the same period in 2007.

Centralized Market for Bilateral Contracts

If in the first quarter of 2007 on the Centralized Market for Bilateral Contracts were concluded 908,035 MWh, the energy volume concluded for delivery in the first three months of this year increased at 2,552,231 MWh, the shares corresponding to these values grew from 6.52% in the first quarter of 2007, at 18.26% in the first quarter of 2008.

The volume traded in March on Centralized Market for Bilateral Contracts attributed by public auction was 92,800 MWh, at contract prices in the rage of 36.69 – 48.37 EUR/MWh, corresponding to contracts with off-peak delivery and contracts with base load delivery.
On the bases of contracts attributed on CMBC, an energy quantity of 17.29% from consumption was in delivery in March 2008, at the average price of 46.58 EUR/MWh.
Up to the present, the share of the volumes traded for delivery in 2008 is 14.79% of consumption.
On the Centralized Market for Bilateral Contracts with Continuous Negotiation (forward with physical delivery) were proposed for trading 20 weekly contracts and 20 monthly contracts, representing a total quantity of 17,760 MWh.

Centralized Market for Green Certificates

After the March auction, the first month when green certificates were traded centralized for the year 2008, a number of 5,106 green certificates were purchased by the suppliers, at the price of 42 euro/certificate. Related to the number of 12,943 green certificates issued for 2008 up to the present, the number of green certificates traded centralized for the 2008 for mandatory quota fulfilment is 40%.

Using the OPCOM market place, the players from the centralized energy markets contributed to ensure, in a transparent way, a relevant percentage from internal consumption of the country: over 28% of consumption, equivalent to trades of approximately 4,041,096 MWh for the first quarter.

PRESS RELEASE 01.04.2008