OPCOM

The first session on the Centralized Market for Bilateral Contracts
with continuous negotiation (FORWARD) is planned to be held

(Bucharest, 22nd of March, 2007) On March 22nd 2007, Complexul Energetic Craiova has submitted to the Romanian Power Market Operator the request for the registration of the first offer on the Centralized Market for Bilateral (FORWARD) Contracts for electricity, with continuous negotiation, destined for the electronic trading of 50 base-load forward contracts, for a delivery period of one month, respectively July 2007. The entire offered quantity is of 37.200 MWh.

The session has been scheduled and communicated on the OPCOM website for Monday, April 2nd, 2007. The participants registered to the market shall express their wish to attend the auction session by providing proof of the release of tender guarantees.

The Procedure regarding the functioning of the Centralized Market for Bilateral Contracts for electricity, with continuous negotiation has been approved by the Notice no 5/05.03.2007 of the Romanian Energy Regulatory Authority, based on the Order no 42/09.11.2005 for the approval of the Regulation concerning the organized framework for the trading of bilateral contracts for electricity.

Among the advantages of this market the following could be stressed out:

Standardization of the offers and thus, the rise of the probability that the published offer shall answer to the requirements of a greater number of participants than the offers defined randomly.
The trading is run from the workstations of the market participants.
During the two sessions organized for each of the selling offers proposed, the sellers, as well as the buyers, contribute permanently to the price fixing by introducing, modifying or withdrawing their own orders.
The platform offers the trading participants real-time information concerning the market depth for the current orders placed on the market and the closed trades during each stage of the trading sessions.

The Romanian Power Market Operator – OPCOM SA offers to market participants two platforms for the conclusion of bilateral contracts, among which a platform for auctions held at OPCOM headquarter for offers defined randomly according to the participants’ needs, and an electronic platform for the trading standard offers from the participants’ workstations, for forward contracts.

PRESS RELEASE 22.03.2007