NERA Economic Consulting Launches www.subasta-cesur.eu -- A New Website for the Auction of Bilateral Electricity Contracts for Regulated Supply in Spain

27 April 2007

Madrid, Apr. 27 -- NERA Economic Consulting, an international firm of experts on how markets work, launched a new website for the auction of bilateral contracts for regulated supply in Spain (CESUR Auctions). The Spanish energy regulator, Comisión Nacional de Energía (CNE), has selected NERA Economic Consulting as the administrator of a series of auctions to procure a portion of this energy supply. Four auctions are scheduled between April 2007 and April 2008, and the first one will take place on or before 20 June 2007. The website -- www.subasta-cesur.eu -- will be the central source of information for the auction participants.

Participants in the auction need to be members of the Spanish electricity market (OMIE), but non-OMIE members can participate through associations with OMIE members. The site will provide documents and related links for the CESUR Auctions. Through this site you will also be able to contact the Auction Manager.

For more information on the CESUR website, please contact administrador@subasta-cesur.eu.

NERA Economic Consulting (www.nera.com), founded in 1961 as National Economic Research Associates, is a unit of Mercer Specialty Consulting, an MMC company.

About NERA

NERA Economic Consulting (www.nera.com) is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For over half a century, NERA's economists have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world's leading law firms and corporations. We bring academic rigor, objectivity, and real world industry experience to bear on issues arising from competition, regulation, public policy, strategy, finance, and litigation.

NERA's clients value our ability to apply and communicate state-of-the-art approaches clearly and convincingly, our commitment to deliver unbiased findings, and our reputation for quality and independence. Our clients rely on the integrity and skills of our unparalleled team of economists and other experts backed by the resources and reliability of one of the world's largest economic consultancies. With its main office in New York City, NERA serves clients from more than 25 offices across North America, Europe, and Asia Pacific.