FUTURGY

Requirements to participate in wholesale markets

1

Management of market acquisition program operations

Energy acquisition in the Commodities Market (CM) includes 3 key activities:

Building up an hourly demand acquisition program. This requires a prior proper electricity consumption metering by customers.

Buying the required energy daily, considering the Day Ahead, and taking into account every hour in the day.

24/7/365 live monitoring of deviations from the stablished acquisition program, in case of expected or unexpected changes in actual consumption.

The OBJECTIVE is to match energy acquisition with actual energy consumption in order to minimize any possible penalties, thus reducing overall costs.

Our 24/7/365 Market Operation service covers this 3 key activities.

2

Administrative increased tasks

Requirements to participate in Wholesale Markets include a greater amount of administrative processes and tasks, such as:

Receiving a greater number of invoices/bills from operators and regulators.

Executing proper on time payments.

Properly following and providing financial guarantees on time.

Providing reports for all required information.

Carrying out an accurate bill accounting and proper financial controlling

This requires an internal evolution / adaptation on the side of our customers Administration Departments, supported by our Administrative Support service.

3

Financial ‘live’ guarantees

Participating in the Wholesale Markets requires covering financial risks. Thus, financial guarantees will be required from Market Operators.

This guarantees will change ‘live’  over time, even on a daily basis, depending on:

Variations on Acquisition Demand Program

Variations on Market Prices

Variation according to Deviation monitoring

Non-compliance of these requirements in form or time entails serious short term financial and administrative consequences.

We provide an Administrative Support service to help meet all daily requirements, and perform a daily follow-up together with the Administration and Payments Departments.

4

Registering and Brokering Mandate

European regulators and most national regulators will require a clear proxy or power of representation from legally authorized representatives to FUTURGY.

This mandate has to be properly legalized, as required by the Wholesale Market operators and regulators.

5

Commitment by Management Departments

Participating in Wholesale Energy Markets requires not only external technical assistance and support from FUTURGY, but also an internal transition from being a ‘passive’ customer into becoming a increasingly ‘active’ market participant.

This cannot be achieved without a proper top management involvement.

There must be at least a host top management interlocutor with FUTURGY’s teams, in order to exchange information, which could be critical due to two variables:

Time

There may be need to react quickly

Cost

Performing or avoiding certain actions in the markets may lead to serious financial consequences

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