Common use of Example of Credit Exposure Clause in Contracts

Example of Credit Exposure. A non-binding illustrative example of the calculation of the Credit Exposure is set out below. It assumes three transactions, as specified in the tables below. Baseload Transaction Trade Date 15/06/2007 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) 50 5 Q1 2008 50 5 Q2 2008 50 5 Q3 2008 50 5 Mid-merit Transaction Trade Date 15/06/2007 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) 55 5 Q1 2008 55 5 Q2 2008 55 5 Q3 2008 55 5 Peak Transaction Trade Date 15/06/2007 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) 60 5 Q1 2008 60 5 Q2 2008 XX XX X0 0000 XX XX This example shows the Credit Exposure calculation as of 15 October 2007. Since this Credit Exposure assessment is made prior to the date on which Difference Payments begin, there are no Receivables. For the Forward Exposure calculation, the example assumes that the ESTSEM for each Quarter is as follows: Quarter Baseload ESTSEM on 15/10/07 (€ /MWh or £/MWh) Mid-merit ESTSEM on 15/10/07 (€ /MWh or £/MWh) Peak ESTSEM on 15/10/07 (€ /MWh or £/MWh) Q4 2007 (11/07 – 12/07) 51 53 58 Q1 2008 51 53 58 Q2 2008 51 53 NA Q3 2008 51 53 NA As specified in Schedule 4, the Forward Exposure to the Seller is defined as: Forward Exposure to the Seller = (SPq – 0.85 * ESTSEM p,q) * Q * Hours p,q The table below illustrates the per MWh exposure (i.e., SPq – 0.85 * ESTSEM p,q) for the Seller for each Transaction for each Quarter. Baseload Quarter SP 0.85 * ESTSEM 15/10/07 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 50.00 43.35 6.65 Q1 2008 50.00 43.35 6.65 Q2 2008 50.00 43.35 6.65 Q3 2008 50.00 43.35 6.65 Mid-merit Quarter SP 0.85 * ESTSEM 15/10/07 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 55.00 45.05 9.95 Q1 2008 55.00 45.05 9.95 Q2 2008 55.00 45.05 9.95 Q3 2008 55.00 45.05 9.95 Peak Quarter SP 0.85 * ESTSEM 15/10/07 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 60.00 49.30 10.70 Q1 2008 60.00 49.30 10.70 Q2 2008 XX XX XX X0 0000 XX XX XX The tables below illustrate the MWh quantities that would be applied to the Quarterly per MWh exposure amounts to arrive at the Forward Exposure for each Transaction for each Quarter. Baseload Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 1,464.00 5.00 7,320.00 Q1 2008 2,183.00 5.00 10,915.00 Q2 2008 2,184.00 5.00 10,920.00 Q3 2008 2,208.00 5.00 11,040.00 Mid-merit Quarter Business Days (Hours) Non-Business Days (Hours) MW Total MWh Q4 2007 (11/07 - 635.50 310 5.00 4,417.50 12/07) Q1 2008 945.50 465 5.00 6,587.50 Q2 2008 961.00 449.5 5.00 6,603.00 Q3 2008 992.00 434 5.00 6,696.00 Peak Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 213.50 5.00 1,067.50 Q1 2008 318.50 5.00 1,592.50 Q2 2008 XX XX XX X0 0000 XX XX XX The table below summarizes the Forward Exposure for each transaction for each Quarter. Baseload Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 6.65 7,320.00 48,678.00 Q1 2008 6.65 10,915.00 72,584.75 Q2 2008 6.65 10,920.00 72,618.00 Q3 2008 6.65 11,040.00 73,416.00 Exposure for Baseload transaction 267,296.75 Mid-merit Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 9.95 4,417.50 43,954.13 Q1 2008 9.95 6,587.50 65,545.63 Q2 2008 9.95 6,603.00 65,699.85 Q3 2008 9.95 6,696.00 66,625.20 Exposure for Mid-merit transaction 241,824.80 Peak Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 10.70 1,067.50 11,422.25 Q1 2008 10.70 1,592.50 17,039.75 Q2 2008 XX XX XX X0 0000 XX XX XX Exposure for Peak transaction 28,462.00 Summary of Forward Exposure Baseload transaction exposure 267,296.75 Midmerit transaction exposure 241,824.80 Peak transaction exposure 28,462.00 Total Forward Exposure to Seller (€ or £) 537,583.55 SCHEDULE 6 CONFIRMATION LETTER (To be typed on letterhead of Seller) This confirmation letter shall confirm the Transaction agreed to on between …………………………………………………… (Buyer) and (Seller). This Confirmation Letter is being provided pursuant to and in accordance with the Master Contract for Differences Agreement dated between Buyer and Seller, and constitutes part of and is subject to the terms and provisions of such Master Contract for Differences Agreement. Terms used but not defined herein shall have the meanings ascribed to them in the Master Contract for Differences Agreement. Product: [tick only one] [ ] Baseload – For Trading Periods at the Contract Quantity arising in all hours. [ ] Mid-merit – For Trading Periods at the Contract Quantity during the hours beginning at 07:30 and ending at 23:00 on Business Days and for Trading Periods on days that are not Business Days at 80% of the Contract Quantity. [ ] Peak – For Trading Periods arising during the hours beginning at 16:30 and ending at 20:00 on all days during, October, November, December, January, February and March at the Contract Quantity. Contract Quantity and Strike Price: The Contract Quantity and Strike Price for this Transaction are set out below. Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) Q1 2008 Q2 2008 Q3 2008 [Seller] [Buyer] Name: Name: Title: Title: Phone No: Phone No: Fax: Fax: Signature: Date: Signature: Date: SCHEDULE 7 LETTER OF CREDIT EURO/STERLING IRREVOCABLE STANDBY LETTER OF CREDIT TEMPLATE Issuing bank: …………..

Example of Credit Exposure. A non-binding illustrative example of the calculation of the Credit Exposure is set out below. It assumes three transactions, as specified in the tables below. Baseload Transaction Trade Date 15/06/2007 15/05/2009 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2009 50 5 Q1 2008 2010 50 5 Q2 2008 2010 50 5 Q3 2008 2010 50 5 Mid-merit Transaction Trade Date 15/06/2007 15/05/2009 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2009 55 5 Q1 2008 2010 55 5 Q2 2008 2010 55 5 Q3 2008 2010 55 5 Peak Transaction Trade Date 15/06/2007 15/05/2009 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2009 60 5 Q1 2008 2010 60 5 Q2 2008 XX XX X0 0000 XX XX 2010 NA NA Q3 2010 NA NA This example shows the Credit Exposure calculation as of 15 the credit margining date in October 2007. Since this Credit Exposure assessment is made prior to the date on which Difference Payments begin, there are no Receivables. For the Forward Exposure calculation, the example assumes that the ESTSEM for each Quarter is as follows: Quarter Baseload ESTSEM on 15/10/07 (€ /MWh or £/MWh) Mid-merit ESTSEM on 15/10/07 (€ /MWh or £/MWh) Peak ESTSEM on 15/10/07 (€ /MWh or £/MWh) Q4 2007 (11/07 – 12/07) 2009 51 53 58 Q1 2008 2010 51 53 58 Q2 2008 2010 51 53 NA Q3 2008 2010 51 53 NA As specified in Schedule 4, the Forward Exposure to the Seller is defined as: Forward Exposure to the Seller = (1+VATj) * (SPq – 0.85 * ESTSEM p,q) * Q * Hours p,q The table below illustrates the per MWh exposure (i.e., SPq – 0.85 * ESTSEM p,q) for the Seller for each Transaction for each Quarter, assuming that VATj =0. Baseload Quarter SP 0.85 * ESTSEM 15/10/07 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2009 50.00 43.35 6.65 Q1 2008 2010 50.00 43.35 6.65 Q2 2008 2010 50.00 43.35 6.65 Q3 2008 2010 50.00 43.35 6.65 Mid-merit Quarter SP 0.85 * ESTSEM 15/10/07 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2009 55.00 45.05 9.95 Q1 2008 2010 55.00 45.05 9.95 Q2 2008 2010 55.00 45.05 9.95 Q3 2008 2010 55.00 45.05 9.95 Peak Quarter SP 0.85 * ESTSEM 15/10/07 17/10/09 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2009 60.00 49.30 10.70 Q1 2008 2010 60.00 49.30 10.70 Q2 2008 XX XX XX X0 0000 XX XX XX 2010 NA NA NA Q3 2010 NA NA NA The tables below illustrate the MWh quantities that would be applied to the Quarterly per MWh exposure amounts to arrive at the Forward Exposure for each Transaction for each Quarter. Baseload Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 1,464.00 2009 2209.0 5.00 7,320.00 11,045.00 Q1 2008 2,183.00 2010 2159.0 5.00 10,915.00 10,795.00 Q2 2008 2,184.00 2010 2184.0 5.00 10,920.00 Q3 2008 2,208.00 2010 2208.0 5.00 11,040.00 Mid-merit Quarter Business Days (Hours) Non-Business Days (Hours) @ 80% MW Total MWh Q4 2007 (11/07 - 635.50 310 2009 1008.0 371.2 5.00 4,417.50 12/07) 6,896.00 Q1 2008 945.50 465 2010 992.0 358.4 5.00 6,587.50 6,752.00 Q2 2008 961.00 449.5 2010 960.0 396.8 5.00 6,603.00 6,784.00 Q3 2008 992.00 434 2010 1008.0 371.2 5.00 6,696.00 6,896.00 Peak Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 213.50 2009 368.0 5.00 1,067.50 1,840.00 Q1 2008 318.50 2010 360.0 5.00 1,592.50 1,800.00 Q2 2008 XX XX XX X0 0000 XX XX XX 2010 NA NA NA Q3 2010 NA NA NA The table below summarizes the Forward Exposure for each transaction for each Quarter. Baseload Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 2009 6.65 7,320.00 48,678.00 11,045.00 73,449.25 Q1 2008 2010 6.65 10,915.00 72,584.75 10,795.00 71,786.75 Q2 2008 2010 6.65 10,920.00 72,618.00 Q3 2008 2010 6.65 11,040.00 73,416.00 Exposure for Baseload transaction 267,296.75 291,270.00 Mid-merit Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 2009 9.95 4,417.50 43,954.13 6,896.00 68,615.20 Q1 2008 2010 9.95 6,587.50 65,545.63 6,752.00 67,182.40 Q2 2008 2010 9.95 6,603.00 65,699.85 6,784.00 67,500.80 Q3 2008 2010 9.95 6,696.00 66,625.20 6,896.00 68,615.20 Exposure for Mid-merit transaction 241,824.80 271,913.60 Peak Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 2009 10.70 1,067.50 11,422.25 1,840.00 19,688.00 Q1 2008 2010 10.70 1,592.50 17,039.75 1,800.00 19,260.00 Q2 2008 XX XX XX X0 0000 XX XX XX 2010 NA NA NA Q3 2010 NA NA NA Exposure for Peak transaction 28,462.00 38,948.00 Summary of Forward Exposure Baseload transaction exposure 267,296.75 291,270.00 Midmerit transaction exposure 241,824.80 271,913.60 Peak transaction exposure 28,462.00 38,948.00 Total Forward Exposure to Seller (€ or £) 537,583.55 Exposure to Seller 602,131.60 SCHEDULE 6 CONFIRMATION LETTER (To be typed on letterhead of SellerILLUSTRATIVE) This confirmation letter shall confirm the Transaction agreed to on between …………………………………………………… (Buyer) and (Seller). This Confirmation Letter is being provided pursuant to and in accordance with the Master Contract for Differences Agreement dated between Buyer and Seller, and constitutes part of and is subject to the terms and provisions of such Master Contract for Differences Agreement. Terms used but not defined herein shall have the meanings ascribed to them in the Master Contract for Differences Agreement. Product: [tick only one] [ ] Baseload – For Trading Periods at the Contract Quantity arising in all hours. [ ] Mid-merit – For Trading Periods at the Contract Quantity during the hours beginning at 07:30 and ending at 23:00 on Business Days and for Trading Periods on days that are not Business Days at 80% of the Contract Quantity. [ ] Peak – For Trading Periods arising during the hours beginning at 16:30 and ending at 20:00 on all days during, October, November, December, January, February and March at the Contract Quantity. Contract Quantity and Strike Price: The Contract Quantity and Strike Price for this Transaction are set out below. Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) Q1 2008 Q2 2008 Q3 2008 [Seller] [Buyer] Name: Name: Title: Title: Phone No: Phone No: Fax: Fax: Signature: Date: Signature: Date: SCHEDULE 7 LETTER OF CREDIT EURO/STERLING IRREVOCABLE STANDBY LETTER OF CREDIT TEMPLATE Issuing bankTo: …………..[Date] Dear Sirs, Irrevocable Letter of Credit No. [ ]: Total Sum [ ]

Example of Credit Exposure. A non-binding illustrative example of the calculation of the Credit Exposure is set out below. It assumes three transactions, as specified in the tables below. Baseload Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2008 50 5 Q1 2008 2009 50 5 Q2 2008 2009 50 5 Q3 2008 2009 50 5 Mid-merit Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2008 55 5 Q1 2008 2009 55 5 Q2 2008 2009 55 5 Q3 2008 2009 55 5 Peak Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2008 60 5 Q1 2008 2009 60 5 Q2 2008 XX XX X0 0000 XX XX 2009 NA NA Q3 2009 NA NA This example shows the Credit Exposure calculation as of 15 17 October 20072008. Since this Credit Exposure assessment is made prior to the date on which Difference Payments begin, there are no Receivables. For the Forward Exposure calculation, the example assumes that the ESTSEM for each Quarter is as follows: Quarter Baseload ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Mid-merit ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Peak ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Q4 2007 (11/07 – 12/07) 2008 51 53 58 Q1 2008 2009 51 53 58 Q2 2008 2009 51 53 NA Q3 2008 2009 51 53 NA As specified in Schedule 4, the Forward Exposure to the Seller is defined as: Forward Exposure to the Seller = (1+VATj) * (SPq – 0.85 * ESTSEM p,q) * Q * Hours p,q The table below illustrates the per MWh exposure (i.e., SPq – 0.85 * ESTSEM p,q) for the Seller for each Transaction for each Quarter, assuming that VATj =0. Baseload Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 50.00 43.35 6.65 Q1 2008 2009 50.00 43.35 6.65 Q2 2008 2009 50.00 43.35 6.65 Q3 2008 2009 50.00 43.35 6.65 Mid-merit Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 55.00 45.05 9.95 Q1 2008 2009 55.00 45.05 9.95 Q2 2008 2009 55.00 45.05 9.95 Q3 2008 2009 55.00 45.05 9.95 Peak Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 60.00 49.30 10.70 Q1 2008 2009 60.00 49.30 10.70 Q2 2008 XX XX XX X0 0000 XX XX XX 2009 NA NA NA Q3 2009 NA NA NA The tables below illustrate the MWh quantities that would be applied to the Quarterly per MWh exposure amounts to arrive at the Forward Exposure for each Transaction for each Quarter. Baseload Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 1,464.00 2008 2209.0 5.00 7,320.00 11,045.00 Q1 2008 2,183.00 2009 2159.0 5.00 10,915.00 10,795.00 Q2 2008 2,184.00 2009 2184.0 5.00 10,920.00 Q3 2008 2,208.00 2009 2208.0 5.00 11,040.00 Mid-merit Quarter Business Days (Hours) Non-Business Days (Hours) @ 80% MW Total MWh Q4 2007 (11/07 - 635.50 310 2008 1008.0 371.2 5.00 4,417.50 12/07) 6,896.00 Q1 2008 945.50 465 2009 992.0 358.4 5.00 6,587.50 6,752.00 Q2 2008 961.00 449.5 2009 960.0 396.8 5.00 6,603.00 6,784.00 Q3 2008 992.00 434 2009 1008.0 371.2 5.00 6,696.00 6,896.00 Peak Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 213.50 2008 368.0 5.00 1,067.50 1,840.00 Q1 2008 318.50 2009 360.0 5.00 1,592.50 1,800.00 Q2 2008 XX XX XX X0 0000 XX XX XX 2009 NA NA NA Q3 2009 NA NA NA The table below summarizes the Forward Exposure for each transaction for each Quarter. Baseload Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 6.65 7,320.00 48,678.00 Q1 2008 6.65 10,915.00 72,584.75 11,045.00 73,449.25 Q1 2009 6.65 10,795.00 71,786.75 Q2 2008 2009 6.65 10,920.00 72,618.00 Q3 2008 2009 6.65 11,040.00 73,416.00 Exposure for Baseload transaction 267,296.75 291,270.00 Mid-merit Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 9.95 4,417.50 43,954.13 Q1 2008 9.95 6,587.50 65,545.63 6,896.00 68,615.20 Q1 2009 9.95 6,752.00 67,182.40 Q2 2008 2009 9.95 6,603.00 65,699.85 6,784.00 67,500.80 Q3 2008 2009 9.95 6,696.00 66,625.20 6,896.00 68,615.20 Exposure for Mid-merit transaction 241,824.80 271,913.60 Peak Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 10.70 1,067.50 11,422.25 Q1 2008 10.70 1,592.50 17,039.75 1,840.00 19,688.00 Q1 2009 10.70 1,800.00 19,260.00 Q2 2008 XX XX XX X0 0000 XX XX XX 2009 NA NA NA Q3 2009 NA NA NA Exposure for Peak transaction 28,462.00 38,948.00 Summary of Forward Exposure Baseload transaction exposure 267,296.75 Midmerit 291,270.00 Mid merit transaction exposure 241,824.80 271,913.60 Peak transaction exposure 28,462.00 38,948.00 Total Forward Exposure to Seller (€ or £) 537,583.55 602,131.60 SCHEDULE 6 CONFIRMATION LETTER (To be typed on letterhead of Seller) This confirmation letter Confirmation Letter shall confirm the Transaction agreed to on between …………………………………………………… (Buyer) and NIE Energy Limited (Seller). This Confirmation Letter is being provided pursuant to and in accordance with the Master Contract for Differences Agreement dated between Buyer and Seller, and constitutes part of and is subject to the terms and provisions of such Master Contract for Differences Agreement. Terms used but not defined herein in this Confirmation Letter shall have the meanings ascribed given to them in the Master Contract for Differences Agreement. Product: [tick only one] [ ] Baseload – For Trading Periods at the Contract Quantity arising in all hours. [ ] Mid-merit – For Trading Periods at the Contract Quantity during the hours beginning at 07:30 and ending at 23:00 on Business Days and for Trading Periods on days that are not Business Days at 80% of the Contract Quantity. [ ] Peak – For Trading Periods arising during the hours beginning at 16:30 and ending at 20:00 on all days during, October, November, December, January, February and March at the Contract Quantity. Contract Quantity and Strike Price: The Contract Quantity and Strike Price for this Transaction are set out below. Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) Q1 2008 Q2 2008 Q3 2008 [Seller] [Buyer] Name: Name: Title: Title: Phone No: Phone No: Fax: Fax: Signature: Date: Signature: Date: SCHEDULE 7 LETTER OF CREDIT EURO/STERLING IRREVOCABLE STANDBY LETTER OF CREDIT TEMPLATE Issuing bank: …………...

Example of Credit Exposure. A non-binding illustrative example of the calculation of the Credit Exposure is set out below. It assumes three transactions, as specified in the tables below. Baseload Transaction Trade Date 15/06/2007 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 Q4 2007 (11/07 – 12/07) 50 5 Q1 2008 50 5 Q2 2008 50 5 Q3 2008 50 5 Mid-merit Transaction Trade Date 15/06/2007 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 Q4 2007 (11/07 – 12/07) 55 5 Q1 2008 55 5 Q2 2008 55 5 Q3 2008 55 5 Peak Transaction Trade Date 15/06/2007 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 Q4 2007 (11/07 – 12/07) 60 5 Q1 2008 60 5 Q2 2008 XX XX X0 0000 XX XX NA NA Q3 2008 NA NA This example shows the Credit Exposure calculation as of 15 October 2007. Since this Credit Exposure assessment is made prior to the date on which Difference Payments begin, there are no Receivables. For the Forward Exposure calculation, the example assumes that the ESTSEM for each Quarter is as follows: Quarter Baseload ESTSEM on 15/10/07 (€ /MWh or £/MWh) Mid-merit ESTSEM on 15/10/07 (€ /MWh or £/MWh) Peak ESTSEM on 15/10/07 (€ /MWh or £/MWh) Q4 2007 (11/07 – 12/07) 51 53 58 Q1 2008 51 53 58 Q2 2008 51 53 NA Q3 2008 51 53 NA As specified in Schedule 4, the Forward Exposure to the Seller is defined as: Forward Exposure to the Seller = (SPq – 0.85 * ESTSEM p,q) * Q * Hours p,q The table below illustrates the per MWh exposure (i.e., SPq – 0.85 * ESTSEM p,q) for the Seller for each Transaction for each Quarter. Baseload Quarter SP 0.85 * ESTSEM 15/10/07 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 50.00 43.35 6.65 Q1 2008 50.00 43.35 6.65 Q2 2008 50.00 43.35 6.65 Q3 2008 50.00 43.35 6.65 Mid-merit Quarter SP 0.85 * ESTSEM 15/10/07 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 55.00 45.05 9.95 Q1 2008 55.00 45.05 9.95 Q2 2008 55.00 45.05 9.95 Q3 2008 55.00 45.05 9.95 Peak Quarter SP 0.85 * ESTSEM 15/10/07 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 60.00 49.30 10.70 Q1 2008 60.00 49.30 10.70 Q2 2008 XX XX XX X0 0000 XX XX XX NA NA NA Q3 2008 NA NA NA The tables below illustrate the MWh quantities that would be applied to the Quarterly per MWh exposure amounts to arrive at the Forward Exposure for each Transaction for each Quarter. Baseload Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 1,464.00 5.00 7,320.00 Q1 2008 2,183.00 5.00 10,915.00 Q2 2008 2,184.00 5.00 10,920.00 Q3 2008 2,208.00 5.00 11,040.00 Mid-merit Quarter Business Days (Hours) Non-Business Days (Hours) MW Total MWh Q4 2007 (11/07 - 635.50 310 5.00 4,417.50 12/07) Q1 2008 945.50 465 5.00 6,587.50 Q2 2008 961.00 449.5 5.00 6,603.00 Q3 2008 992.00 434 5.00 6,696.00 Peak Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 213.50 5.00 1,067.50 Q1 2008 318.50 5.00 1,592.50 Q2 2008 XX XX XX X0 0000 XX XX XX NA NA NA Q3 2008 NA NA NA The table below summarizes the Forward Exposure for each transaction for each Quarter. Baseload Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 6.65 7,320.00 48,678.00 Q1 2008 6.65 10,915.00 72,584.75 Q2 2008 6.65 10,920.00 72,618.00 Q3 2008 6.65 11,040.00 73,416.00 Exposure for Baseload transaction 267,296.75 Mid-merit Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 9.95 4,417.50 43,954.13 Q1 2008 9.95 6,587.50 65,545.63 Q2 2008 9.95 6,603.00 65,699.85 Q3 2008 9.95 6,696.00 66,625.20 Exposure for Mid-merit transaction 241,824.80 Peak Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 10.70 1,067.50 11,422.25 Q1 2008 10.70 1,592.50 17,039.75 Q2 2008 XX XX XX X0 0000 XX XX XX NA NA NA Q3 2008 NA NA NA Exposure for Peak transaction 28,462.00 Summary of Forward Exposure Baseload transaction exposure 267,296.75 Midmerit transaction exposure 241,824.80 Peak transaction exposure 28,462.00 Total Forward Exposure to Seller (€ or £) 537,583.55 SCHEDULE 6 CONFIRMATION LETTER (To be typed on letterhead of Seller) This confirmation letter shall confirm the Transaction agreed to on between …………………………………………………… (Buyer) and (Seller). This Confirmation Letter is being provided pursuant to and in accordance with the Master Contract for Differences Agreement dated between Buyer and Seller, and constitutes part of and is subject to the terms and provisions of such Master Contract for Differences Agreement. Terms used but not defined herein shall have the meanings ascribed to them in the Master Contract for Differences Agreement. Product: [tick only one] [ ] Baseload – For Trading Periods at the Contract Quantity arising in all hours. [ ] Mid-merit – For Trading Periods at the Contract Quantity during the hours beginning at 07:30 and ending at 23:00 on Business Days and for Trading Periods on days that are not Business Days at 80% of the Contract Quantity. [ ] Peak – For Trading Periods arising during the hours beginning at 16:30 and ending at 20:00 on all days during, October, November, December, January, February and March at the Contract Quantity. Contract Quantity and Strike Price: The Contract Quantity and Strike Price for this Transaction are set out below. Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 Q4 2007 (11/07 – 12/07) Q1 2008 Q2 2008 Q3 2008 [Seller] [Buyer] Name: Name: Title: Title: Phone No: Phone No: Fax: Fax: Signature: Date: Signature: Date: SCHEDULE 7 LETTER OF CREDIT EURO/STERLING IRREVOCABLE STANDBY LETTER OF CREDIT TEMPLATE Issuing bank: …………..

Example of Credit Exposure. A non-binding illustrative example of the calculation of the Credit Exposure is set out below. It assumes three transactions, as specified in the tables below. Baseload Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2008 50 5 Q1 2008 2009 50 5 Q2 2008 2009 50 5 Q3 2008 2009 50 5 Mid-merit Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2008 55 5 Q1 2008 2009 55 5 Q2 2008 2009 55 5 Q3 2008 2009 55 5 Peak Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2008 60 5 Q1 2008 2009 60 5 Q2 2008 XX XX X0 0000 XX XX 2009 NA NA Q3 2009 NA NA This example shows the Credit Exposure calculation as of 15 17 October 20072008. Since this Credit Exposure assessment is made prior to the date on which Difference Payments begin, there are no Receivables. For the Forward Exposure calculation, the example assumes that the ESTSEM for each Quarter is as follows: Quarter Baseload ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Mid-merit ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Peak ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Q4 2007 (11/07 – 12/07) 2008 51 53 58 Q1 2008 2009 51 53 58 Q2 2008 2009 51 53 NA Q3 2008 2009 51 53 NA As specified in Schedule 4, the Forward Exposure to the Seller is defined as: Forward Exposure to the Seller = (1+VATj) * (SPq – 0.85 * ESTSEM p,q) * Q * Hours p,q The table below illustrates the per MWh exposure (i.e., SPq – 0.85 * ESTSEM p,q) for the Seller for each Transaction for each Quarter, assuming that VATj =0. Baseload Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 50.00 43.35 6.65 Q1 2008 2009 50.00 43.35 6.65 Q2 2008 2009 50.00 43.35 6.65 Q3 2008 2009 50.00 43.35 6.65 Mid-merit Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 55.00 45.05 9.95 Q1 2008 2009 55.00 45.05 9.95 Q2 2008 2009 55.00 45.05 9.95 Q3 2008 2009 55.00 45.05 9.95 Peak Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 60.00 49.30 10.70 Q1 2008 2009 60.00 49.30 10.70 Q2 2008 XX XX XX X0 0000 XX XX XX 2009 NA NA NA Q3 2009 NA NA NA The tables below illustrate the MWh quantities that would be applied to the Quarterly per MWh exposure amounts to arrive at the Forward Exposure for each Transaction for each Quarter. Baseload Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 1,464.00 2008 2209.0 5.00 7,320.00 11,045.00 Q1 2008 2,183.00 2009 2159.0 5.00 10,915.00 10,795.00 Q2 2008 2,184.00 2009 2184.0 5.00 10,920.00 Q3 2008 2,208.00 2009 2208.0 5.00 11,040.00 Mid-merit Quarter Business Days (Hours) Non-Business Days (Hours) @ 80% MW Total MWh Q4 2007 (11/07 - 635.50 310 2008 1008.0 371.2 5.00 4,417.50 12/07) 6,896.00 Q1 2008 945.50 465 2009 992.0 358.4 5.00 6,587.50 6,752.00 Q2 2008 961.00 449.5 2009 960.0 396.8 5.00 6,603.00 6,784.00 Q3 2008 992.00 434 2009 1008.0 371.2 5.00 6,696.00 6,896.00 Peak Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 213.50 2008 368.0 5.00 1,067.50 1,840.00 Q1 2008 318.50 2009 360.0 5.00 1,592.50 1,800.00 Q2 2008 XX XX XX X0 0000 XX XX XX 2009 NA NA NA Q3 2009 NA NA NA The table below summarizes the Forward Exposure for each transaction for each Quarter. Baseload Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 6.65 7,320.00 48,678.00 Q1 2008 6.65 10,915.00 72,584.75 11,045.00 73,449.25 Q1 2009 6.65 10,795.00 71,786.75 Q2 2008 2009 6.65 10,920.00 72,618.00 Q3 2008 2009 6.65 11,040.00 73,416.00 Exposure for Baseload transaction 267,296.75 291,270.00 Mid-merit Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 9.95 4,417.50 43,954.13 Q1 2008 9.95 6,587.50 65,545.63 6,896.00 68,615.20 Q1 2009 9.95 6,752.00 67,182.40 Q2 2008 2009 9.95 6,603.00 65,699.85 6,784.00 67,500.80 Q3 2008 2009 9.95 6,696.00 66,625.20 6,896.00 68,615.20 Exposure for Mid-merit transaction 241,824.80 271,913.60 Peak Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 10.70 1,067.50 11,422.25 Q1 2008 10.70 1,592.50 17,039.75 1,840.00 19,688.00 Q1 2009 10.70 1,800.00 19,260.00 Q2 2008 XX XX XX X0 0000 XX XX XX 2009 NA NA NA Q3 2009 NA NA NA Exposure for Peak transaction 28,462.00 38,948.00 Summary of Forward Exposure Baseload transaction exposure 267,296.75 Midmerit 291,270.00 Mid merit transaction exposure 241,824.80 271,913.60 Peak transaction exposure 28,462.00 38,948.00 Total Forward Exposure to Seller (€ or £) 537,583.55 602,131.60 SCHEDULE 6 CONFIRMATION LETTER (To be typed on letterhead of Seller) This confirmation letter shall confirm the Transaction agreed to on between …………………………………………………… (Buyer) and (Seller). This Confirmation Letter is being provided pursuant to and in accordance with the Master Contract for Differences Agreement dated between Buyer and Seller, and constitutes part of and is subject to the terms and provisions of such Master Contract for Differences Agreement. Terms used but not defined herein shall have the meanings ascribed to them in the Master Contract for Differences Agreement. Product: [tick only one] [ ] Baseload – For Trading Periods at the Contract Quantity arising in all hours. [ ] Mid-merit – For Trading Periods at the Contract Quantity during the hours beginning at 07:30 and ending at 23:00 on Business Days and for Trading Periods on days that are not Business Days at 80% of the Contract Quantity. [ ] Peak – For Trading Periods arising during the hours beginning at 16:30 and ending at 20:00 on all days during, October, November, December, January, February and March at the Contract Quantity. Contract Quantity and Strike Price: The Contract Quantity and Strike Price for this Transaction are set out below. Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) Q1 2008 Q2 2008 Q3 2008 [Seller] [Buyer] Name: Name: Title: Title: Phone No: Phone No: Fax: Fax: Signature: Date: Signature: Date: SCHEDULE 7 LETTER OF CREDIT EURO/STERLING IRREVOCABLE STANDBY LETTER OF CREDIT TEMPLATE Issuing bankTo: …………..[Date] Dear Sirs, Irrevocable Letter of Credit No. [ ]: Total Sum [ ]

Example of Credit Exposure. A non-binding illustrative example of the calculation of the Credit Exposure is set out below. It assumes three transactions, as specified in the tables below. Baseload Transaction Trade Date 15/06/2007 15/05/2009 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2009 50 5 Q1 2008 2010 50 5 Q2 2008 2010 50 5 Q3 2008 2010 50 5 Mid-merit Transaction Trade Date 15/06/2007 15/05/2009 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2009 55 5 Q1 2008 2010 55 5 Q2 2008 2010 55 5 Q3 2008 2010 55 5 Peak Transaction Trade Date 15/06/2007 15/05/2009 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx Contract Quantity (XXMW) X0 0000 (11/07 – 12/07) Q4 2009 60 5 Q1 2008 2010 60 5 Q2 2008 XX XX X0 0000 XX XX 2010 NA NA Q3 2010 NA NA This example shows the Credit Exposure calculation as of 15 the credit margining date in October 2007. Since this Credit Exposure assessment is made prior to the date on which Difference Payments begin, there are no Receivables. For the Forward Exposure calculation, the example assumes that the ESTSEM for each Quarter is as follows: Quarter Baseload ESTSEM on 15/10/07 (€ /MWh or £/MWh) Mid-merit ESTSEM on 15/10/07 (€ /MWh or £/MWh) Peak ESTSEM on 15/10/07 (€ /MWh or £/MWh) Q4 2007 (11/07 – 12/07) 2009 51 53 58 Q1 2008 2010 51 53 58 Q2 2008 2010 51 53 NA Q3 2008 2010 51 53 NA As specified in Schedule 4, the Forward Exposure to the Seller is defined as: Forward Exposure to the Seller = (1+VATj) * (SPq – 0.85 * ESTSEM p,q) * Q * Hours p,q The table below illustrates the per MWh exposure (i.e., SPq – 0.85 * ESTSEM p,q) for the Seller for each Transaction for each Quarter, assuming that VATj =0. Baseload Quarter SP 0.85 * ESTSEM 15/10/07 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2009 50.00 43.35 6.65 Q1 2008 2010 50.00 43.35 6.65 Q2 2008 2010 50.00 43.35 6.65 Q3 2008 2010 50.00 43.35 6.65 Mid-merit Quarter SP 0.85 * ESTSEM 15/10/07 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2009 55.00 45.05 9.95 Q1 2008 2010 55.00 45.05 9.95 Q2 2008 2010 55.00 45.05 9.95 Q3 2008 2010 55.00 45.05 9.95 Peak Quarter SP 0.85 * ESTSEM 15/10/07 17/10/09 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2009 60.00 49.30 10.70 Q1 2008 2010 60.00 49.30 10.70 Q2 2008 XX XX XX X0 0000 XX XX XX 2010 NA NA NA Q3 2010 NA NA NA The tables below illustrate the MWh quantities that would be applied to the Quarterly per MWh exposure amounts to arrive at the Forward Exposure for each Transaction for each Quarter. Baseload Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 1,464.00 2009 2209.0 5.00 7,320.00 11,045.00 Q1 2008 2,183.00 2010 2159.0 5.00 10,915.00 10,795.00 Q2 2008 2,184.00 2010 2184.0 5.00 10,920.00 Q3 2008 2,208.00 2010 2208.0 5.00 11,040.00 Mid-merit Quarter Business Days (Hours) Non-Business Days (Hours) @ 80% MW Total MWh Q4 2007 (11/07 - 635.50 310 2009 1008.0 371.2 5.00 4,417.50 12/07) 6,896.00 Q1 2008 945.50 465 2010 992.0 358.4 5.00 6,587.50 6,752.00 Q2 2008 961.00 449.5 2010 960.0 396.8 5.00 6,603.00 6,784.00 Q3 2008 992.00 434 2010 1008.0 371.2 5.00 6,696.00 6,896.00 Peak Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 213.50 2009 368.0 5.00 1,067.50 1,840.00 Q1 2008 318.50 2010 360.0 5.00 1,592.50 1,800.00 Q2 2008 XX XX XX X0 0000 XX XX XX 2010 NA NA NA Q3 2010 NA NA NA The table below summarizes the Forward Exposure for each transaction for each Quarter. Baseload Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 2009 6.65 7,320.00 48,678.00 11,045.00 73,449.25 Q1 2008 2010 6.65 10,915.00 72,584.75 10,795.00 71,786.75 Q2 2008 2010 6.65 10,920.00 72,618.00 Q3 2008 2010 6.65 11,040.00 73,416.00 Exposure for Baseload transaction 267,296.75 291,270.00 Mid-merit Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 2009 9.95 4,417.50 43,954.13 6,896.00 68,615.20 Q1 2008 2010 9.95 6,587.50 65,545.63 6,752.00 67,182.40 Q2 2008 2010 9.95 6,603.00 65,699.85 6,784.00 67,500.80 Q3 2008 2010 9.95 6,696.00 66,625.20 6,896.00 68,615.20 Exposure for Mid-merit transaction 241,824.80 271,913.60 Peak Quarter 15/10/07 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 2009 10.70 1,067.50 11,422.25 1,840.00 19,688.00 Q1 2008 2010 10.70 1,592.50 17,039.75 1,800.00 19,260.00 Q2 2008 XX XX XX X0 0000 XX XX XX 2010 NA NA NA Q3 2010 NA NA NA Exposure for Peak transaction 28,462.00 38,948.00 Summary of Forward Exposure Baseload transaction exposure 267,296.75 291,270.00 Midmerit transaction exposure 241,824.80 271,913.60 Peak transaction exposure 28,462.00 38,948.00 Total Forward Exposure to Seller (€ or £) 537,583.55 602,131.60 SCHEDULE 6 CONFIRMATION LETTER (To be typed on letterhead of SellerILLUSTRATIVE) This confirmation letter shall confirm the Transaction agreed to on between …………………………………………………… (Buyer) and (Seller). This Confirmation Letter is being provided pursuant to and in accordance with the Master Contract for Differences Agreement dated between Buyer and Seller, and constitutes part of and is subject to the terms and provisions of such Master Contract for Differences Agreement. Terms used but not defined herein shall have the meanings ascribed to them in the Master Contract for Differences Agreement. Product: [tick only one] [ ] Baseload – For Trading Periods at the Contract Quantity arising in all hours. [ ] Mid-merit – For Trading Periods at the Contract Quantity during the hours beginning at 07:30 and ending at 23:00 on Business Days and for Trading Periods on days that are not Business Days at 80% of the Contract Quantity. [ ] Peak – For Trading Periods arising during the hours beginning at 16:30 and ending at 20:00 on all days during, October, November, December, January, February and March at the Contract Quantity. Contract Quantity and Strike Price: The Contract Quantity and Strike Price for this Transaction are set out below. Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) Q1 2008 Q2 2008 Q3 2008 [Seller] [Buyer] Name: Name: Title: Title: Phone No: Phone No: Fax: Fax: Signature: Date: Signature: Date: SCHEDULE 7 LETTER OF CREDIT EURO/STERLING IRREVOCABLE STANDBY LETTER OF CREDIT TEMPLATE Issuing bankTo: …………..[Date] Dear Sirs, Irrevocable Letter of Credit No. [ ]: Total Sum [ ]

Example of Credit Exposure. A non-binding illustrative example of the calculation of the Credit Exposure is set out below. It assumes three transactions, as specified in the tables below. Baseload Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) 50 5 Q1 2008 2009 50 5 Q2 2008 2009 50 5 Q3 2008 2009 50 5 Mid-merit Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) 55 5 Q1 2008 2009 55 5 Q2 2008 2009 55 5 Q3 2008 2009 55 5 Peak Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) 60 5 Q1 2008 2009 60 5 Q2 2008 2009 XX XX X0 0000 XX XX This example shows the Credit Exposure calculation as of 15 17 October 20072008. Since this Credit Exposure assessment is made prior to the date on which Difference Payments begin, there are no Receivables. For the Forward Exposure calculation, the example assumes that the ESTSEM for each Quarter is as follows: Quarter Baseload ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Mid-merit ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Peak ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Q4 2007 (11/07 – 12/07) 2008 51 53 58 Q1 2008 2009 51 53 58 Q2 2008 2009 51 53 NA Q3 2008 2009 51 53 NA As specified in Schedule 4, the Forward Exposure to the Seller is defined as: Forward Exposure to the Seller = (1+VATj) * (SPq – 0.85 * ESTSEM p,q) * Q * Hours p,q The table below illustrates the per MWh exposure (i.e., SPq – 0.85 * ESTSEM p,q) for the Seller for each Transaction for each Quarter, assuming that VATj =0. Baseload Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 50.00 43.35 6.65 Q1 2008 2009 50.00 43.35 6.65 Q2 2008 2009 50.00 43.35 6.65 Q3 2008 2009 50.00 43.35 6.65 Mid-merit Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 55.00 45.05 9.95 Q1 2008 2009 55.00 45.05 9.95 Q2 2008 2009 55.00 45.05 9.95 Q3 2008 2009 55.00 45.05 9.95 Peak Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 60.00 49.30 10.70 Q1 2008 2009 60.00 49.30 10.70 Q2 2008 2009 XX XX XX X0 0000 XX XX XX The tables below illustrate the MWh quantities that would be applied to the Quarterly per MWh exposure amounts to arrive at the Forward Exposure for each Transaction for each Quarter. Baseload Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 1,464.00 2008 2209.0 5.00 7,320.00 11,045.00 Q1 2008 2,183.00 2009 2159.0 5.00 10,915.00 10,795.00 Q2 2008 2,184.00 2009 2184.0 5.00 10,920.00 Q3 2008 2,208.00 2009 2208.0 5.00 11,040.00 Mid-merit Quarter Business Days (Hours) Non-Business Days (Hours) @ 80% MW Total MWh Q4 2007 (11/07 - 635.50 310 2008 1008.0 371.2 5.00 4,417.50 12/07) 6,896.00 Q1 2008 945.50 465 2009 992.0 358.4 5.00 6,587.50 6,752.00 Q2 2008 961.00 449.5 2009 960.0 396.8 5.00 6,603.00 6,784.00 Q3 2008 992.00 434 2009 1008.0 371.2 5.00 6,696.00 Peak Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 213.50 6,896.00 Xxxx Xxxxxxx Xxxxx XX Xxxxx XXx X0 0000 368.0 5.00 1,067.50 1,840.00 Q1 2008 318.50 2009 360.0 5.00 1,592.50 1,800.00 Q2 2008 2009 XX XX XX X0 0000 XX XX XX The table below summarizes the Forward Exposure for each transaction for each Quarter. Baseload Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 6.65 7,320.00 48,678.00 Q1 2008 6.65 10,915.00 72,584.75 11,045.00 73,449.25 Q1 2009 6.65 10,795.00 71,786.75 Q2 2008 2009 6.65 10,920.00 72,618.00 Q3 2008 2009 6.65 11,040.00 73,416.00 Exposure for Baseload transaction 267,296.75 291,270.00 Mid-merit Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 9.95 4,417.50 43,954.13 Q1 2008 9.95 6,587.50 65,545.63 6,896.00 68,615.20 Q1 2009 9.95 6,752.00 67,182.40 Q2 2008 2009 9.95 6,603.00 65,699.85 6,784.00 67,500.80 Q3 2008 2009 9.95 6,696.00 66,625.20 6,896.00 68,615.20 Exposure for Mid-merit transaction 241,824.80 271,913.60 Peak Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 10.70 1,067.50 11,422.25 Q1 2008 10.70 1,592.50 17,039.75 1,840.00 19,688.00 Q1 2009 10.70 1,800.00 19,260.00 Q2 2008 2009 XX XX XX X0 0000 XX XX XX Exposure for Peak transaction 28,462.00 38,948.00 Summary of Forward Exposure Baseload transaction exposure 267,296.75 Midmerit 291,270.00 Mid merit transaction exposure 241,824.80 271,913.60 Peak transaction exposure 28,462.00 38,948.00 Total Forward Exposure to Seller (€ or £) 537,583.55 602,131.60 SCHEDULE 6 CONFIRMATION LETTER (To be typed on letterhead of Seller) This confirmation letter shall confirm the Transaction agreed to on between …………………………………………………… (Buyer) and (Seller). This Confirmation Letter is being provided pursuant to and in accordance with the Master Contract for Differences Agreement dated between Buyer and Seller, and constitutes part of and is subject to the terms and provisions of such Master Contract for Differences Agreement. Terms used but not defined herein shall have the meanings ascribed to them in the Master Contract for Differences Agreement. Product: [tick only one] [ ] Baseload – For Trading Periods at the Contract Quantity arising in all hours. [ ] Mid-merit – For Trading Periods at the Contract Quantity during the hours beginning at 07:30 and ending at 23:00 on Business Days and for Trading Periods on days that are not Business Days at 80% of the Contract Quantity. [ ] Peak – For Trading Periods arising during the hours beginning at 16:30 and ending at 20:00 on all days during, October, November, December, January, February and March at the Contract Quantity. Contract Quantity and Strike Price: The Contract Quantity and Strike Price for this Transaction are set out below. Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) Q1 2008 Q2 2008 Q3 2008 [Seller] [Buyer] Name: Name: Title: Title: Phone No: Phone No: Fax: Fax: Signature: Date: Signature: Date: SCHEDULE 7 LETTER OF CREDIT EURO/STERLING IRREVOCABLE STANDBY LETTER OF CREDIT TEMPLATE Issuing bankTo: …………..[Date] Dear Sirs, Irrevocable Letter of Credit No. [ ]: Total Sum [ ]

Example of Credit Exposure. A non-binding illustrative example of the calculation of the Credit Exposure is set out below. It assumes three transactions, as specified in the tables below. Baseload Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) 50 5 Q1 2008 2009 50 5 Q2 2008 2009 50 5 Q3 2008 2009 50 5 Mid-merit Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) 55 5 Q1 2008 2009 55 5 Q2 2008 2009 55 5 Q3 2008 2009 55 5 Peak Transaction Trade Date 15/06/2007 15/05/2008 Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) 60 5 Q1 2008 2009 60 5 Q2 2008 2009 XX XX X0 0000 XX XX This example shows the Credit Exposure calculation as of 15 17 October 20072008. Since this Credit Exposure assessment is made prior to the date on which Difference Payments begin, there are no Receivables. For the Forward Exposure calculation, the example assumes that the ESTSEM for each Quarter is as follows: Quarter Baseload ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Mid-merit ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Peak ESTSEM on 15/10/07 17/10/08 (€ /MWh or £/MWh) Q4 2007 (11/07 – 12/07) 2008 51 53 58 Q1 2008 2009 51 53 58 Q2 2008 2009 51 53 NA Q3 2008 2009 51 53 NA As specified in Schedule 4, the Forward Exposure to the Seller is defined as: Forward Exposure to the Seller = (1+VATj) * (SPq – 0.85 * ESTSEM p,q) * Q * Hours p,q The table below illustrates the per MWh exposure (i.e., SPq – 0.85 * ESTSEM p,q) for the Seller for each Transaction for each Quarter, assuming that VATj =0. Baseload Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 50.00 43.35 6.65 Q1 2008 2009 50.00 43.35 6.65 Q2 2008 2009 50.00 43.35 6.65 Q3 2008 2009 50.00 43.35 6.65 Mid-merit Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 55.00 45.05 9.95 Q1 2008 2009 55.00 45.05 9.95 Q2 2008 2009 55.00 45.05 9.95 Q3 2008 2009 55.00 45.05 9.95 Peak Quarter SP 0.85 * ESTSEM 15/10/07 17/10/08 (SP - 0.85 * ESTSEM) Q4 2007 (11/07 – 12/07) 2008 60.00 49.30 10.70 Q1 2008 2009 60.00 49.30 10.70 Q2 2008 2009 XX XX XX X0 0000 XX XX XX The tables below illustrate the MWh quantities that would be applied to the Quarterly per MWh exposure amounts to arrive at the Forward Exposure for each Transaction for each Quarter. Baseload Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 1,464.00 2008 2209.0 5.00 7,320.00 11,045.00 Q1 2008 2,183.00 2009 2159.0 5.00 10,915.00 10,795.00 Q2 2008 2,184.00 2009 2184.0 5.00 10,920.00 Q3 2008 2,208.00 2009 2208.0 5.00 11,040.00 Mid-merit Quarter Business Days (Hours) Non-Business Days (Hours) @ 80% MW Total MWh Q4 2007 (11/07 - 635.50 310 2008 1008.0 371.2 5.00 4,417.50 12/07) 6,896.00 Q1 2008 945.50 465 2009 992.0 358.4 5.00 6,587.50 6,752.00 Q2 2008 961.00 449.5 2009 960.0 396.8 5.00 6,603.00 6,784.00 Q3 2008 992.00 434 2009 1008.0 371.2 5.00 6,696.00 Peak Quarter Hours MW Total MWh Q4 2007 (11/07 - 12/07) 213.50 6,896.00 Xxxx Xxxxxxx Xxxxx XX Xxxxx XXx X0 0000 368.0 5.00 1,067.50 1,840.00 Q1 2008 318.50 2009 360.0 5.00 1,592.50 1,800.00 Q2 2008 2009 XX XX XX X0 0000 XX XX XX The table below summarizes the Forward Exposure for each transaction for each Quarter. Baseload Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 6.65 7,320.00 48,678.00 Q1 2008 6.65 10,915.00 72,584.75 11,045.00 73,449.25 Q1 2009 6.65 10,795.00 71,786.75 Q2 2008 2009 6.65 10,920.00 72,618.00 Q3 2008 2009 6.65 11,040.00 73,416.00 Exposure for Baseload transaction 267,296.75 291,270.00 Mid-merit Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 9.95 4,417.50 43,954.13 Q1 2008 9.95 6,587.50 65,545.63 6,896.00 68,615.20 Q1 2009 9.95 6,752.00 67,182.40 Q2 2008 2009 9.95 6,603.00 65,699.85 6,784.00 67,500.80 Q3 2008 2009 9.95 6,696.00 66,625.20 6,896.00 68,615.20 Exposure for Mid-merit transaction 241,824.80 271,913.60 Peak Quarter 15/10/07 17/10/08 € /MWh or £/MWh Exposure MWh € or £ Exposure to Seller Q4 2007 (11/07 - 12/07) 10.70 1,067.50 11,422.25 Q1 2008 10.70 1,592.50 17,039.75 1,840.00 19,688.00 Q1 2009 10.70 1,800.00 19,260.00 Q2 2008 2009 XX XX XX X0 0000 XX XX XX Exposure for Peak transaction 28,462.00 38,948.00 Summary of Forward Exposure Baseload transaction exposure 267,296.75 Midmerit 291,270.00 Mid merit transaction exposure 241,824.80 271,913.60 Peak transaction exposure 28,462.00 38,948.00 Total Forward Exposure to Seller (€ or £) 537,583.55 602,131.60 SCHEDULE 6 CONFIRMATION LETTER (To be typed on letterhead of Seller) This confirmation letter Confirmation Letter shall confirm the Transaction agreed to on between …………………………………………………… (Buyer) and NIE Energy Limited (Seller). This Confirmation Letter is being provided pursuant to and in accordance with the Master Contract for Differences Agreement dated between Buyer and Seller, and constitutes part of and is subject to the terms and provisions of such Master Contract for Differences Agreement. Terms used but not defined herein in this Confirmation Letter shall have the meanings ascribed given to them in the Master Contract for Differences Agreement. Product: [tick only one] [ ] Baseload – For Trading Periods at the Contract Quantity arising in all hours. [ ] Mid-merit – For Trading Periods at the Contract Quantity during the hours beginning at 07:30 and ending at 23:00 on Business Days and for Trading Periods on days that are not Business Days at 80% of the Contract Quantity. [ ] Peak – For Trading Periods arising during the hours beginning at 16:30 and ending at 20:00 on all days during, October, November, December, January, February and March at the Contract Quantity. Contract Quantity and Strike Price: The Contract Quantity and Strike Price for this Transaction are set out below. Trading Period Falling in Quarter Strike Price [€/MWh] [£/MWh] Xxxxxxxx Xxxxxxxx (XX) X0 0000 (11/07 – 12/07) Q1 2008 Q2 2008 Q3 2008 [Seller] [Buyer] Name: Name: Title: Title: Phone No: Phone No: Fax: Fax: Signature: Date: Signature: Date: SCHEDULE 7 LETTER OF CREDIT EURO/STERLING IRREVOCABLE STANDBY LETTER OF CREDIT TEMPLATE Issuing bank: …………...