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& Weather Derivatives Take a New Look at the Weather ! WRMA - Toulouse, 3 rd of October 2006

& Weather Derivatives Take a New Look at the Weather ! WRMA - Toulouse, 3 rd of October 2006. Agenda. I - KalibraXE Presentation II - KalibraXE weather derivatives platform : WeatherXE. I - KalibraXE Presentation . KalibraXE, European electricity company.

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& Weather Derivatives Take a New Look at the Weather ! WRMA - Toulouse, 3 rd of October 2006

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  1. & Weather Derivatives Take a New Look at the Weather ! WRMA - Toulouse, 3rd of October 2006

  2. Agenda I - KalibraXE Presentation II - KalibraXE weather derivatives platform : WeatherXE

  3. I - KalibraXE Presentation

  4. KalibraXE, European electricity company • KalibraXE, new electricity company, started in august 2005 by Jacques and Michèle Assouline • KalibraXE, an experienced team, brought together by the challenges of the ever evolving energy market • Two centers : Paris and London • KalibraXE, a European approach • KalibraXE, electricity supplier in France, Germany and Spain • KalibraXE, to enter Belgium and Poland by the end of 2006 • KalibraXE, innovative company • KalibraXE nominated by the Paris Chamber of Commerce 2006 (Innovative Companies) • KalibraXE selected by Microsoft for its IDEE partnership program

  5. KalibraXE, electricity bill reduction KalibraXE’s Offer : Variable part optimization Customer Consumption Profile Consumption in MWh The customer defines its supply strategy Annual consumption profile KalibraXE’s Offer : Block Optimization => Thanks to power supplied by KalibraXE, our clients achieve significant savings on their total electricity bill : A reduction of 5% to 15% of the total electricity bill

  6. II - KalibraXE weather derivatives platform : WeatherXE

  7. KalibraXE brings Weather Derivatives to all companies • Just like power price optimization a few months ago, today, Weather Derivatives are not accessible to all companies • Weather Derivatives do not always meet companies’ requirements • KalibraXE clients ask for easy access to weather derivatives • => KalibraXE makes Weather derivatives accessible to all companies by launching its weather derivatives platform : WeatherXE

  8. Weather Derivatives Agents Powernext regional weather data Strike Temperature Averse Agents Temperature Pro Agents HDDs WeatherXE • WeatherXE is an Independent and reliable Market Maker. • WeatherXE offers the structure for parties to enter into weather derivatives contracts

  9. WeatherXE Process Asker Contract set-up Contract Management Billing Bidder

  10. WeatherXE Process : Asker & Bidder The “Asker” selects : Index – Duration - Option (Swap, Put or Call) - Long or Short - Strike price - Value per Point - Caps Asker Contract Management Contract set-up Billing Bidder The “Bidder” : • Chooses to become the counterparty. • Specifies a premium when short a Call or long a Put • Offers a counter proposal if the terms do not suit him.

  11. WeatherXE Process : Contract set-up Asker Contract Management Contract set-up Billing Bidder • Possibility to create flexible contracts to suit specific needs • Any number of contracts can be created or modified until they find a counterparty • Search functionality to find contracts meeting one’s needs • Auction system • Initially WeatherXE will offer simple contracts related to temperatures. Depending on the demand we will add Wind and Precipitation related contracts as well as the possibility to define more complex contracts.

  12. WeatherXE Process : Contract set-up Asker Contract Management Contract set-up Billing Bidder When both parties agree to transaction KalibraXE manages the contract • Weather derivative contract • Index calculation • Contract outcome • Index calculation example : Regional HDD and CDD indices based for example on Powernext temperature data • Financial aspects • Financial guarantees • Billing

  13. WeatherXE’s answer to client expectations Client Expectations WeatherXE’s Undertakings Structure for parties to enter into weather derivatives contracts Easy access to Weather Derivatives Flexible contracts to suit specific needs Contracts terms driven by supply and demand. Independent & Reliable Market Maker Guarantees Billing infrastructure Online monitoring of the contract (client dedicated web site) Transparency

  14. Contacts 8 rue des Acacias 75017 Paris Tel : +33 (0)1 40 68 00 40 Fax : +33 (0)1 40 68 00 80 Michèle Assouline –CEO michele.assouline@kalibraxe.com Jacques Assouline –Director jacques.assouline@kalibraxe.com

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