REPRESENTATION IN THE ELECTRICITY MARKET

GNERA ENERGY is an independent sales agent ("free" representative) registered with OMEL (the Spanish Electricity Market Body) and REE (the Spanish Grid), and performs Comprehensive Management of the Electricity Market to optimize the electricity sales of ‘Special Regime’ (renewable and cogeneration electricity) Producers.

In summary, our service includes:

• Energy Meteorology. Production forecasting
• Operations and programming in daily and intraday markets 365 days a year
• Absorption of the cost of deviations through the portfolio effect
• Price Coverage. Electricity Futures and Derivatives Market
• Liquidation of bonuses and supplements. Billing. Energy balances
• Management of telemeters for exporting energy. Metering Hub
• Management of production signals with CECRE. Control Centre

Below you will find a schematic presentation of the interlocutors GNERA works with on a daily basis to provide the services indicated:

CONTROL CENTRE

Due to the high number of generators of electrical energy on the market, special regime installations with an installed capacity exceeding 10 MW must be assigned to a generation Control Centre, which will act as the interlocutor with the system operator (REE), by sending information in real time from the installations and ensuring that their instructions are executed in order to guarantee the security of the national electrical system.

GNERA ENERGY provides the services required for managing the control office and for integration with the CECRE (Renewable Energy Control Centre) of the Grid, with the following features:

• Guarantee that the producer complies with regulations, with the highest level of quality in the service.
• Receive, in the Delegated Control Centre, the signals stipulated in Appendix 2 of P.O. 9 of REE, approved in the resolution of 16 October 2006.
• Transmit the signals received from the Client to CECRE, in accordance with P.O.3.7s of REE.
• Receive the production orders from CECRE, for any plants which should receive them.
• Transmit the production orders received from the Control Centre to the Client for any plants which should receive them.

The diagram showing how the control centre operates is described in the following figure:

The Control Centre, working remotely in real time 24 hours a day, 365 days a year, in addition to complying with the requirements outlined by the REE, has the capacity to respond to any incident that occurs in the various generation installations, thereby enabling it to take full advantage of the energy resources of the electrical energy generation installations and increase their availability.