LPX Leipzig Power Exchange The first German Power Exchange

25/04/2020

100000 95000 90000 85000 80000 75000 70000 65000 60000 55000 50000 45000 40000 35000 30000 25000 20000 15000 10000 5000 0

MWh/week LPX Spot Market - Weekly volumes and average prices (MCP)

24-00 25-00 26-00 27-00 28-00 29-00 30-00 31-00 32-00 33-00 34-00 35-00 36-00 37-00 38-00 39-00 40-00 41-00 42-00

Only Fri-Sun

Week volume Weekly average price

€/MWh

30,00 28,50 27,00 25,50 24,00 22,50 21,00 19,50 18,00 16,50 15,00 13,50 12,00 10,50 9,00 7,50 6,00 4,50 3,00 1,50 0,00 25/04/2020 Seite 2

MWh/day

18000 17000 16000 15000 14000 13000 12000 11000 10000 9000 8000 7000 6000 5000 4000 3000 2000 1000 0

Prices and Volumes in LPX Spot Market

Daily turnover Daily average

EURO/MWh

36,00 34,00 32,00 30,00 28,00 26,00 24,00 22,00 20,00 18,00 16,00 14,00 12,00 10,00 8,00 6,00 4,00 2,00 0,00 25/04/2020 Seite 3

FACTS ABOUT TRADE JUNE 16 - OCTOBER 23

Total volume: Average volume/day: Highest daily volume (Thu Sep 21): Lowest daily volume (Mon June 19): Average daily price (MCP): Highest daily average (MCP) (Thu Sep 14): Lowest daily average (MCP) (Sun Oct 15): Highest hourly price (MCP) (Hour 12 on Thu, Sep 21): Lowest hourly price (MCP) (Hour 6 on Sun, Oct 15): 1070892 MWh 8238 MWh 16954 MWh 1448 MWh 16,88 EURO 30,32 EURO 7,74 EURO 100,19 EURO 0,86 EURO 25/04/2020 Seite 4

LPX has a clear strategy

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Role and intention

 Role: Trading place in the liberalised energy market  Intention: constituent component of a European net of energy exchanges  Goal: To be your professional partner in the energy business

Spot Stabilisation Spot & Futures

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„Auction Bidding“ as the best solution

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„Auction Bidding“

 Bundling up of supply and demand  Minimization of strategic influences and market power  Definite and generally valid time for balancing the portfolio  Economical and simple 25/04/2020 Seite 6

Basic principles of price determination

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Foreign spot market participants

 Foreign participants will have to make sure themselves that power is at their disposal in a German TSO-area 

Result

 You take part in LPX just as your German colleagues (contract with Balance Responsible a.s.o.) 25/04/2020 Seite 7

LPX and the German power market

TSO-areas

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LPX works with 8 TSO areas:

        BayernWerk Bewag EnBW Transportnetze HEW PreussenElektra Netz RWE Energie VEW ENERGIE VEAG 25/04/2020 Seite 8

Block bid periods on the LPX Spot Market

Limits for block bids from start

 Maximum size for an individual block bid is 50 MW   A maximum of 3 block bids per block period and participant can be sent in addition the hourly bid These limits can change later on and if so LPX will inform its participants no later than on Thursday the week before implementation of new limits.

Block 1 h. 1 – 6 Block 2 h. 7 - 10 Block 3 h. 11 - 14 Block 4 h. 15 - 18 Block 5 h. 19 - 24 Time 00:00 06:00 10:00 14:00 18:00 24:00 25/04/2020 Seite 9

Organisation of the exchange

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Public law structure

• •

Exchange as an institution under public law LPX acts through organs under public law

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Supporter

• • •

LPX Leipzig Power Exchange GmbH Private law institutions Shareholders

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LPX Organisation

LPX Board:

•

City of Leipzig

•

Sachsen LB

•

Freestate of Saxony

•

Nord Pool ASA LPX Management Spot Trading Settlement Marketing & Key Accounts Exchange Council Management of the Exchange Trade Supervisory Examination Regulations Sanction committee Exchange Court of Arbitration

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LPX Fees

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Overview

 Trading fees (mutual, i.e. to be paid by both the purchaser and the seller)

0.04 Euro/MWh

 Annual fee

12500 Euro

 Entrance fee (one-off)

7000 Euro

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The Market Participants

 33 companies trade at LPX Power Exchange

Aare Tessin AG Bewag Aktiengesellschaft DISAM A/S EDF Trading Limited Electrabel Elektrizitäts-Gesellschaft-Laufenburg AG EnBW Gesellschaft für Stromhandel enercity trade Energieunion AG EWMR Entega Trade GmbH E.O.N. Energie AG Fortum Energie GmbH GEW Köln AG HEW AG Kom-Strom AG

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Kraftübertragungswerke Rheinfelden AG MVV Energie AG Norsk Hydro Energy Deutschland GmbH NWS Energiehandel GmbH Österreichische Elektrizitätswirtschafts AG RWE Energie AG Southern Energy Europe bv Stadtwerke Düsseldorf AG Stadtwerke Leipzig, Statkraft Energy Deutschland GmbH Südwestdeutsche Stromhandelsgesellschaft mbH Syneco GmhH & Co.KG Tiroler Wasserkraftwerke AG TXU Europe Energy Trading BV VASA Energy GmbH & Co. KG VEAG Vereinigte Energiewerke AG VEW Energie AG

(09/28/00) 25/04/2020 Seite 13