1. Trasparency: Practical example from Nordic Countries. Urgent Market Message (UMM) Pasi Kuokkanen, Nord Pool Spot

2. Urgent Market Messages required from market participants and TSOs: Disclosure Guidelines for Urgent Market Messages (UMMs) October 2008  Sender’s focus: Simple generation of messages informing about the reason and consequences of planned and unplanned production and consumptionoutages  Reader’s focus: Clear and understandable messages where the meaning, i.e.consequences for production and consumption are easily comprehensible TSO Disclosure Guidelines for Urgent Market Messages (UMMs) October 2008  Sender’s focus (TSO): Simple generation of messages informing about the reason and consequences of planned and unplanned transmission outages  Reader’s focus (participant): Clear and understandable messages where the meaning, i.e.the consequences for trading capacities are easily comprehensible.

3. Inside information means information of a precise nature which has not been made public relating to one or more listed products, that would be likely to have a significant impact on the prices in one or more such products if made public. WHEN IS INFORMATION IS NEEDED?  Information about unplanned and planned outages shall always be disclosed if the available capacity represents a change of more than  100 MW of installed capacity for one generator, consumption unit or transmission facility  more than 200 MW per production station, including changes of such plans.  UMM shall be sent as soon as possible and not later than 60 minutes after the decision or failure time, including information about the reason for the outage.

4. You can find it from Nord Pool Spot´s web-pages (www.npspot.com) TSO plans Participant plans Last UMMs UMM login (to send UMMs)

5. TSO plans: next 8 days

6. Participants plans: next 6 weeks

7. Thank you for your attentention. Pasi Kuokkanen (pk@npspot.com)