PRESS RELEASE September 2008

(Bucharest, October 2nd, 2008) DAM: moderately increased comparing with similar month of the previous year the traded volume was 411,291 MWh, assuring the spot market share of 9.42% from consumption, level that is framing in the stability trend describing the entire 2008.

CMBC: a new monthly record for this year, September concluded trades over 1.7 MWh through the CMBC platform.

CMGC: on the centralized market for green certificates organized by OPCOM the suppliers purchased almost 55,636 certificates in the first seven auctions for 2008, representing 59% from the number of the certificates issued before the time limit for offering.

Day Ahead Market

The interest for spot trades is proved by the 61 participants each submitting at least one offer during this month, representing more than 3/4 from the number of the registered participants.

The spot price was established for all hourly intervals of this month, the hourly traded volumes varying between 265 MWh/h and 842 MWh/h. While the spot prices of the European exchanges increased about 50%, the average price of OPCOM spot market was the minimum European price, about 62 EUR/MWh and the average traded volume maintained constant related to previous month, 571 MWh/h, representing 9.42% from consumption, value that consolidates the spot field of the whole market energy.

The analyses for the first nine months of 2008 for DAM transactions confirm the maintained level of the traded volume as a performance indicator for the market functioning, to a superior value comparing with similar period of the previous year: 595 MWh/h, increased with 3.5% then 575 MWh/h for the period from January to September in 2007.

Centralized Market for Bilateral Contracts

The volume traded in September on Centralized Market for Bilateral Contracts attributed by public auction was 1,741,005 MWh, five times more than previous month and representing the biggest volume traded this year.

Two off-peak load contracts were concluded to average price of 41.07 EUR/MWh and nine base load contracts were traded with prices between 53.04 EUR /MWh and 54.74 EUR /MWh.

The contracts attributed previously on CMBC for delivery period in September 2008 have the average price 49.52 Eur/MWh and accumulate 678,459 MWh, 32% more then value of September 2007, representing 16.53% from consumption.

Up to now, the share of the volumes traded for delivery in 2008 is 15.68% from consumption and the share for delivery in 2009 is 3.68%.

Centralized Market for Green Certificates

In the September auction the suppliers purchased 5,604 green certificates at the price of 42 EUR/certificate. The total number of the green certificates traded until 30.09.2008 in the account of 2008 increased more then 600% comparing with number of green certificates traded until the similar day of the previous year in the account of 2007.

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 26% of consumption, equivalent to trades of approximately 1,089,750 MWh for September 2008.

In conditions of the central counterpart mechanism applied on Day Ahead Market , the value for the all payments and encashment was about 28.3 mil. EUR, without situations of non-payments.