1. Advisory 8 April 2008 Regional Market Development Impediments for Traders Strictly Private and Confidential

2. Agenda Page 1Survey 20061 2New Survey 20084 3Some result from the Survey 20068 4Contact Data18

3. Advisory Section 1 Survey 2006

4. Regional Market Development Impediments for Traders Survey from 2006 2 PwC analysed impediments for electricity traders Priorities of the survey: –Network access administration and bureaucratic formalities –Power exchanges and trade mechanisms –Balance Energy –Congestion Management –Market structure and Timetable –Divergent IT Platforms and Data Delivery We have asked 39 traders, with a response of 48% Section 1 - Survey 2006

5. Regional Market Development Impediments for Traders Survey from 2006 3 PricewaterhouseCoopers analysed the impediments for traders for one region : ‘Central-East Region’ This region covers the following seven countries: Austria, Czech Republic, Germany, Hungary, Poland, Slovakia and Slovenia Study was separated in two sections: –Country comparison –Result of survey Section 1 - Survey 2006

6. Advisory Section 2 New Survey 2008

7. Regional Market Development Impediments for Traders NEW: Trader Survey 2008 5 Now expansion for Gas Traders Region will be South-South-East (SSE) Priorities of the Survey: –Regional Market Access –Trading Platforms –Balancing Energy –Gas Storage –Transportation –IT-Systems Source: ERGEG Section 2 - New Survey 2008

8. Regional Market Development Impediments for Traders Report 6 Trader Survey: –We ask the trader, the person who is active in the market –Trader answers only for the market, which is not ‘their home market’ –We will now contact 110 Gas traders and shippers Report will have three section: –Country comparison for basic information –Survey with Gas Traders active in this region –Evaluation of Result Result available: May 2008 Section 2 - New Survey 2008

9. Advisory Section 3 Some result from the Survey 2006

10. Regional Market Development Impediments for Traders Network access administration and bureaucratic formalities 9 Section 3 - Some result from the Survey 2006

11. Regional Market Development Impediments for Traders Availability of information in English in some countries is poor 10 Section 3 - Some result from the Survey 2006

12. Regional Market Development Impediments for Traders Certain countries requires trader license – and it is difficult to obtain this license 11 Section 3 - Some result from the Survey 2006

13. Regional Market Development Impediments for Traders TSO and Power Exchanges should work together 12 Section 3 - Some result from the Survey 2006

14. Regional Market Development Impediments for Traders Are the balance energy prices market oriented? 13 Section 3 - Some result from the Survey 2006

15. Regional Market Development Impediments for Traders IT systems are in most cases adjusted 14 Section 3 - Some result from the Survey 2006

16. Regional Market Development Impediments for Traders Data access: Not satisfactory! A general problem 15 Section 3 - Some result from the Survey 2006

17. Regional Market Development Impediments for Traders Overall Rating 16 Section 3 - Some result from the Survey 2006

18. Regional Market Development Impediments for Traders Main Result of Survey 2006 Result shows, that there are still significant impediments for traders in these countries. By harmonisation of laws and market rules a significant part of impediments could be reduced. Here are the Ministries, Regulators and in certain cases also the Transmission System Operators are the main address for a further improvement. In relation to congestions on the interconnection lines, increased investments in networks will be necessary 17 Section 3 - Some result from the Survey 2006

19. Advisory Section 4 Contact Data

20. Regional Market Development Impediments for Traders Trader Survey Contact Erwin Smole Senior Manager Energy, Utility and Mining Phone: +43 1 50188 - 2928 Mobile: +43 699 115 320 71 E-mail: erwin.smole@at.pwc.com PwC Corporate Finance Beratung GmbH Erdbergstraße 200 A-1030 Vienna Phone:+43 1 50 188 -2901 Fax:+43 1 50 188 -621 PricewaterhouseCoopers 19 Section 4 - Contact Data