Welcome
Welcome to the second newsletter about Elsam's Virtual Power Plant.

Information Session
Elsam will host an information session on 19 May 2005 at our power plant in Esbjerg, which is situated approximately 70 km from Billund Airport. We encourage all interested parties to participate in the session.

Auction Rules
The first auction is scheduled for the fourth quarter of 2005. Eligible companies will have the opportunity to bid on virtual generating capacity with a duration of 3 months (covering the first quarter of 2006). 250 MW will be offered in this first auction.
The auction principles have now been approved by the DCA, the Trustee and Elsam.

Auction and Credit Rules
Eligible bidders in the auction must observe the auction and credit rules in order to take part in the auction. These rules have been designed to attract serious bidders to the auction and to allow smaller bidders to participate. Draft versions are now available.

Access to Auction and Credit Rules
The draft auction and credit rules have been posted to the Confidential Section of the Virtual Power website. The Confidential Section of our website will provide approved potential bidders, the Trustee and the DCA with access to legal documents concerning the auctions. The eligibility criteria for access to the Confidential Section as well as general information on the rules have been published on our website under the heading "The Auction"
We encourage potential eligible bidders to send comments or questions about the auction and credit rules through our FAQ page.

We thank you for your interest in Elsam's Virtual Power Plant Auctions.