1. Market Operator User Group Meeting 1 Agenda Review of Action Items10:45 IT& Market System Development11:10 Customer Service11:25 Market Operations10:50 Questions and Answers12:45 Market Operator User Group Meeting / 11th August 2009 Market Analysis11:55 Coffee Break11:35

2. Market Operator User Group Meeting 2 Market Operator User Group Meeting / 11th August 2009 Market Analysis  Pricing Events  €74.17 peak SMP on 19/08/2009;  €580.53 peak SMP on 25/08/2009;  €561.60 peak SMP on 09/09/2009;  Make Whole Payments  Why Make Whole Payments are made when Uplift is calculated;  Examples of different events;

3. Market Operator User Group Meeting 3 Market Operator User Group Meeting / 11th August 2009  19/08/2009  SMP and Shadow Price at 08:00 AM of €74.17; Pricing Events  This Shadow Price is not any Generator Unit’s Bid Price;

4. Market Operator User Group Meeting 4 Market Operator User Group Meeting / 11th August 2009 19-08-2009

5. Market Operator User Group Meeting 5 Market Operator User Group Meeting / 11th August 2009 19-08-2009

6. Market Operator User Group Meeting 6 Market Operator User Group Meeting / 11th August 2009  19/08/2009  To determine Generator Unit that is marginal - Pricing Events  Exclude Generator Units at Min Stable Generation;  Exclude Generator Units at Max Availability;  Exclude Generator Units at Breakpoints (PQ pairs);  Exclude Generator Units in Ramping positions;

7. Market Operator User Group Meeting 7 Market Operator User Group Meeting / 11th August 2009 Marginal Unit @ 08:00 AM GU_400272 19-08-2009

8. Market Operator User Group Meeting 8 Market Operator User Group Meeting / 11th August 2009  19/08/2009  To confirm Generator that is marginal - Pricing Events  Add 0.5 MW to System Load for relevant Trading Period;  Take 0.5MW to System Load for relevant Trading Period;  Re-run the day;  Compare outcomes;

9. Market Operator User Group Meeting 9 Market Operator User Group Meeting / 11th August 2009 Pricing Events

10. Market Operator User Group Meeting 10 Market Operator User Group Meeting / 11th August 2009 Pricing Events

11. Market Operator User Group Meeting 11 Market Operator User Group Meeting / 11th August 2009 19-08-2009

12. Market Operator User Group Meeting 12 Market Operator User Group Meeting / 11th August 2009 Marginal Unit @ 06:30 AM GU_400480 19-08-2009 283.63 MW @ €23.25

13. Market Operator User Group Meeting 13 Market Operator User Group Meeting / 11th August 2009 Marginal Unit @ 07:00 AM GU_500130 19-08-2009 189.53 MW @ €24.48

14. Market Operator User Group Meeting 14 Market Operator User Group Meeting / 11th August 2009 Marginal Unit @ 07:30 AM GU_400323 19-08-2009 439.81 MW @ €24.54

15. Market Operator User Group Meeting 15 Market Operator User Group Meeting / 11th August 2009 Marginal Unit @ 08:00 AM GU_400272 19-08-2009 271.45 MW @ €36.78 228.5 MW @ €36.78 185.55 MW @ €36.44 142.59 MW @ €36.44

16. Market Operator User Group Meeting 16 Market Operator User Group Meeting / 11th August 2009 19-08-2009 Constrained by Ramp Rates

17. Market Operator User Group Meeting 17 Market Operator User Group Meeting / 11th August 2009  19/08/2009  @ 19/08/2009 06:30:00 IST, Shadow Price is €23.25 while Bid Price is €36.44 Pricing Events  @ 19/08/2009 07:00:00 IST, Shadow Price is €24.48 while Bid Price is €36.44  @ 19/08/2009 07:30:00 IST, Shadow Price is €24.54 while Bid Price is €36.78  @ 19/08/2009 08:80:00 IST, Shadow Price is €74.17 while Bid Price is €36.78

18. Market Operator User Group Meeting 18 Market Operator User Group Meeting / 11th August 2009  19/08/2009  Equation for inter-temporal ramp constrained shadow price; Pricing Events  (Bid Price for Marginal Unit) + Σ (Shadow Price - Bid Price) in previous constrained TP;