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IG Meeting Milan , 18 th July 2008

Draft Auction rules for 2009 allocations. IG Meeting Milan , 18 th July 2008. Capacity allocation mechanism 2009 - 1/4. 2009 Auctions Rules. ARs 2009 to be sent to the Regulators by the first week of July 2008 has been drafted. Main changes:

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IG Meeting Milan , 18 th July 2008

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  1. Draft Auction rules for 2009 allocations IG Meeting Milan , 18th July 2008

  2. Capacity allocation mechanism 2009 - 1/4 2009 Auctions Rules ARs 2009 to be sent to the Regulators by the first week of July 2008 has been drafted Main changes: • Publication of PTRs’ holders: only names not the quantities • Use It or Sell It (UIOSI) principle to periodic (yearly, monthly) PTRs not nominated before daily auction: feasible • Other minor improvements: • proposed to reword the force majeure definition (not included in the draft version); • introduction of contact details for claims; • Users accuracy obligation.

  3. Capacity allocation mechanism 2009 – 2/4 A to N nomination 2009 Auctions Rules • A to N nominations of Yearly and Monthly PTRs on French-Italian interconnection : • From Italy to France : Feasible in TERNA IT Tool but not applicable in RTE IT Tool (not requested by Market Players; considerable efforts to modify IT systems. RTE is changing his global IT tool managing nominations with a go live at the end of 2009). • From France to Italy : Not applicable for nomination of PTRs from France to Italy (for the same reasons)

  4. Capacity allocation mechanism 2009 – 3/4 A to N nomination 2009 Auctions Rules • A to N nominations of Daily PTRs on Italian interconnections: Not applicable. Explanation: very tight schedule In about a quarter of an hour (from 8:30 till 8:45): • PTRs holder has to communicate to TSO the sharing among his counterparties; • TSO has to check if the total amount of sharing is ≤ PTRs assigned, as to make sure that nominations are not larger than allocated capacity • TSO communicates to neighboring TSO the sharing • Terna sets margins and send them to GME (Margins in GME are needed in order to give PTR Holders the possibility to use the capacity obtained in the auction) Consequences • High probability of mismatches -> Capacity control becomes more complex -> impact on market results • Large impact on all IT systems (for both TSOs and traders) -> significant changes necessary • No significant benefit for market players

  5. Capacity allocation mechanism 2009 - 4/4 A to N nomination Between 8:30 and 8:45: • PTRs holder has to communicate to TSO the sharing among his counterparts; • TSO has to check if the total amount of sharing is ≤ PTRs assigned to him • TSO communicates to neighboring TSO the sharing • Terna sets margins and send them to GME Deadline long-term Nomination Import Neighbouring TSOs Daily PTRs nominations (imp&exp) Matching with neighbouring TSO Exchange nominations long-term between TSOs D-1 D-1 7h00 7h35 16h30 8h30 8h45 13h30 12h00 7h50 8h45 7h35 9h00 7h00 8h30 8h20 ATC daily calculation MGP end Export Daily auctions Deadline Long-term Nominations Export - TERNA Sending margins to GME ATC daily publication and Auction start Results Export Daily auctions Export daily auctions end

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