Common use of AUCTION PROCEDURE Clause in Contracts

AUCTION PROCEDURE. If the sum of all Bids submitted for a given Auction falls short of or equals the total Interconnection Capacity, no Clearing Price is charged to the PTR holder. If the sum of all Bids submitted for a given Auction strictly exceeds the Interconnection Capacity, a Clearing Price is charged to the PTR holder. For this purpose, the Bids are sorted out by the criterion price/time stamp, starting with the highest price and ending with the lowest one. Should several bids have the same price, the priority shall be given to Bids with earlier time stamp. The requested Interconnection Capacities of the Bids are added up. Up to the Bid (marginal Bid), which represents the level above which the sum of the Interconnection Capacity requested by the Auction participants strictly exceeds the Interconnection Capacity. Each Auction participant receives the Interconnection Capacity requested at the price of this marginal Bid in form of a PTR. In cases where several Bids have the same price, the priority shall be given to Bids with earlier time stamp. The Clearing Price determined according to the above principle is used as a basis for calculating the charges for Interconnection Capacity Price and apply to all PTR holders. PTRs are considered to have been awarded to a successful PTR holder at the moment that PTR holder has been informed by the respective Auction Operator. Year 2010 Publication of Auction Specifications Auction Day Publication of Auction Results 03.12.2009 10.12.2009 14.12.2009 January 2010 Publication of Auction Specifications Auction Day 10.12.2009 15.12.2009 February 2010 Publication of Auction Specifications Auction Day 08.01.2010 13.01.2010 March 2010 Publication of Auction Specifications Auction Day 11.02.2010 16.02.2010 April 2010 Publication of Auction Specifications Auction Day 11.03.2010 16.03.2010 May 2010 Publication of Auction Specifications Auction Day 08.04.2010 13.04.2010 June 2010 Publication of Auction Specifications Auction Day 07.05.2010 12.05.2010 July 2010 Publication of Auction Specifications Auction Day 10.06.2010 15.06.2010 August 2010 Publication of Auction Specifications Auction Day 09.07.2010 14.07.2010 September 2010 Publication of Auction Specifications Auction Day 12.08.2010 17.08.2010 October 2010 Publication of Auction Specifications Auction Day 10.09.2010 15.09.2010 November 2010 Publication of Auction Specifications Auction Day 08.10.2010 13.10.2010 December 2010 Publication of Auction Specifications Auction Day 11.11.2010 16.11.2010 ANNEX 3a: Austrian public holidays 2010 01.01 2010 Fri. New Year‟s Day / ▇▇▇▇▇▇▇ 06.01.2010 Wed. Epiphany / Heilige Drei Könige 04.04.2010 Sun Easter Sunday / Ostersonntag 05.04.2010 Mon. Easter Monday / Ostermontag 01.05.2010 Sat. Labour Day / Tag der Arbeit 13.05.2010 Thu. Ascension Day / Christi Himmelfahrt 23.05.2010 Sun. Whit Sunday / Pfingstsonntag 24.05.2010 Mon. Whit Monday / Pfingstmontag 03.06.2010 Thu. Corpus Christi / Fronleichnam 15.08.2010 Sun. Assumption Day / ▇▇▇▇▇ Himmelfahrt 26.10.2010 Tue. Austria National Day / Nationalfeiertag Österreich 01.11.2010 Mon. All Saints‟ Day / ▇▇▇▇▇▇▇▇▇▇▇▇▇ 08.12.2010 Wed. Immaculate Conception / ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ 25.12.2010 Sat. Christmas / Christtag / Weihnachtstag 26.12.2010 Sun. St. ▇▇▇▇▇▇▇‟s Day / Stefanitag / Stephanstag 01.01 2010 Fri. New Year‟s Day 02.01. 2010 Sati. New Year‟s Day 08.02.2010 Mon. Culture Day 04.04.2010 Sun Easter 05.04.2010 Mon. Easter Monday 27.04.2010 Tue. National Resistance Day 01.05.2010 Sat. Labour Day 02.05.2010 Sun. Labour Day 25.06.2010 Fri. National Day 15.08.2010 Sun. Assumption Day 31.10.2010 Sun. Reformation Day 01.11.2010 Mon. All Saints‟ Day 25.12.2010 Sat. Christmas 26.12.2010 Sun. Independence Day name: street: zipcode/city: phone: fax: email: VERBUND-Austrian Power Grid AG ▇-▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇, ▇▇▇-▇▇▇▇▇ Phone: +▇▇ (▇)▇▇▇▇▇-▇▇▇▇▇ Fax: +▇▇-(▇)▇▇▇▇▇-▇▇▇▇▇ Mail: ▇▇▇▇.▇▇▇@▇▇▇▇▇▇▇.▇▇ ▇▇▇▇▇▇ we revocably authorize you to collect debts at maturity from our bank account by debit advice. Herewith our bank shall be authorized to cash the debit advice, whereas there is no obligation for redemption, particularly if our bank account offers insufficient coverage. We reserve the right to revoke the debts collection within 42 days after the date of debts collection without stating the reason. Account number: Name of bank: Bank code: To (payee): Verbund Austrian Power Grid AG A- ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇, IZD-Tower location, date: signature: Name according to commercial register Department No. of Commercial Register Address Post Code Country VAT-Number Name of Balance Group Nomination will be performed with this BG?* YES □ NO □ EIC Code E-Mail Commercial Representative Telephone Fax E-mail Name (User) Telephone E-mail Name (User) Telephone E-mail Name (User) Telephone E-mail

AUCTION PROCEDURE. If the sum of all Bids submitted for a given Auction falls short of or equals the total Interconnection Capacity, no Clearing Price is charged to the PTR holder. If the sum of all Bids submitted for a given Auction strictly exceeds the Interconnection Capacity, a Clearing Price is charged to the PTR holder. For this purpose, the Bids are sorted out by the criterion price/time stamp, starting with the highest price and ending with the lowest one. Should several bids have the same price, the priority shall be given to Bids with earlier time stamp. The requested Interconnection Capacities of the Bids are added up. Up to the Bid (marginal Bid), which represents the level above which the sum of the Interconnection Capacity requested by the Auction participants strictly exceeds the Interconnection Capacity. Each Auction participant receives the Interconnection Capacity requested at the price of this marginal Bid in form of a PTR. In cases where several Bids have the same price, the priority shall be given to Bids with earlier time stamp. The Clearing Price determined according to the above principle is used as a basis for calculating the charges for Interconnection Capacity Price and apply to all PTR holders. PTRs are considered to have been awarded to a successful PTR holder at the moment that PTR holder has been informed by the respective Auction Operator. Yearly Auction Date (indicative) Year 2010 2009 Publication of Auction Specifications Auction Day Publication of Auction Results 03.12.2009 10.12.2009 14.12.2009 20.11.2008 27.11.2008 January 2010 2009 Publication of Auction Specifications Auction Day 10.12.2009 15.12.2009 10.12.2008 15.12.2008 February 2010 2009 Publication of Auction Specifications Auction Day 08.01.2010 13.01.2010 09.01.2009 14.01.2009 March 2010 2009 Publication of Auction Specifications Auction Day 11.02.2010 16.02.2010 11.02.2009 16.02.2009 April 2010 2009 Publication of Auction Specifications Auction Day 11.03.2010 16.03.2010 11.03.2009 16.03.2009 May 2010 2009 Publication of Auction Specifications Auction Day 08.04.2010 13.04.2010 10.04.2009 15.04.2009 June 2010 2009 Publication of Auction Specifications Auction Day 07.05.2010 12.05.2010 08.05.2009 13.05.2009 July 2010 2009 Publication of Auction Specifications Auction Day 10.06.2010 15.06.2010 10.06.2009 15.06.2009 August 2010 2009 Publication of Auction Specifications Auction Day 09.07.2010 14.07.2010 10.07.2009 15.07.2009 September 2010 2009 Publication of Auction Specifications Auction Day 12.08.2010 17.08.2010 12.08.2009 17.08.2009 October 2010 2009 Publication of Auction Specifications Auction Day 10.09.2010 15.09.2010 11.09.2009 16.09.2009 November 2010 2009 Publication of Auction Specifications Auction Day 08.10.2010 13.10.2010 09.10.2009 14.10.2009 December 2010 2009 Publication of Auction Specifications Auction Day 11.11.2010 16.11.2010 ANNEX 3a: Austrian public holidays 2010 01.01 2010 Fri. New Year‟s Day / ▇▇▇▇▇▇▇ 06.01.2010 Wed. Epiphany / Heilige Drei Könige 04.04.2010 Sun Easter Sunday / Ostersonntag 05.04.2010 Mon. Easter Monday / Ostermontag 01.05.2010 Sat. Labour Day / Tag der Arbeit 13.05.2010 Thu. Ascension Day / Christi Himmelfahrt 23.05.2010 Sun. Whit Sunday / Pfingstsonntag 24.05.2010 Mon. Whit Monday / Pfingstmontag 03.06.2010 Thu. Corpus Christi / Fronleichnam 15.08.2010 Sun. Assumption Day / ▇▇▇▇▇ Himmelfahrt 26.10.2010 Tue. Austria National Day / Nationalfeiertag Österreich 01.11.2010 Mon. All Saints‟ Day / ▇▇▇▇▇▇▇▇▇▇▇▇▇ 08.12.2010 Wed. Immaculate Conception / ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ 25.12.2010 Sat. Christmas / Christtag / Weihnachtstag 26.12.2010 Sun. St. ▇▇▇▇▇▇▇‟s Day / Stefanitag / Stephanstag 01.01 2010 Fri. New Year‟s Day 02.01. 2010 Sati. New Year‟s Day 08.02.2010 Mon. Culture Day 04.04.2010 Sun Easter 05.04.2010 Mon. Easter Monday 27.04.2010 Tue. National Resistance Day 01.05.2010 Sat. Labour Day 02.05.2010 Sun. Labour Day 25.06.2010 Fri. National Day 15.08.2010 Sun. Assumption Day 31.10.2010 Sun. Reformation Day 01.11.2010 Mon. All Saints‟ Day 25.12.2010 Sat. Christmas 26.12.2010 Sun. Independence Day name: street: zipcode/city: phone: fax: email: VERBUND-Austrian Power Grid AG ▇-▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇, ▇▇▇-▇▇▇▇▇ Phone: +▇▇ (▇)▇▇▇▇▇-▇▇▇▇▇ Fax: +▇▇-(▇)▇▇▇▇▇-▇▇▇▇▇ Mail: ▇▇▇▇.▇▇▇@▇▇▇▇▇▇▇.▇▇ ▇▇▇▇▇▇ we revocably authorize you to collect debts at maturity from our bank account by debit advice. Herewith our bank shall be authorized to cash the debit advice, whereas there is no obligation for redemption, particularly if our bank account offers insufficient coverage. We reserve the right to revoke the debts collection within 42 days after the date of debts collection without stating the reason. Account number: Name of bank: Bank code: To (payee): Verbund Austrian Power Grid AG A- ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇, IZD-Tower location, date: signature: Name according to commercial register Department No. of Commercial Register Address Post Code Country VAT-Number Name of Balance Group Nomination will be performed with this BG?* YES □ NO □ EIC Code E-Mail Commercial Representative Telephone Fax E-mail Name (User) Telephone E-mail Name (User) Telephone E-mail Name (User) Telephone E-mail11.11.2009 16.11.2009