POWERNEXT futures statistics July 31, 2006

The introduction of a power exchange in France is a direct response to the opening up of the European electricity markets. Powernext SA is a Multilateral Trading Facility in charge of managing an optional and anonymous organised exchange offering: - Day-ahead contracts for the management of volume risk on Powernext Day-AheadTM since 21 November 2001, - Medium term contracts for the management of price risk on Powernext FuturesTM since 18 June 2004. This document presents in a series of tables and graphics the July 31, 2006 update of Powernext FuturesTM statistics: year, quarter and month contracts for July 2006, base-load and peak-load contracts overview from February 2005 or January 2006 to July 2006 (monthly volume in MW, open interest by delivery year in MWh, daily settlement price in euros/MWh), base-load and peak-load price spreads and market liquidity in July 2006 (average bid ask spread and availability). (J.S.)