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The Iberian Energy Derivatives Exchange

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OMIP and OMIClear Quarterly Auction Results, September 2015

In the last weeks, OMIP – the Iberian power derivatives exchange, has successfully held two quarterly Auctions with unique features in the European power market: the 8th auction of Financial Transmission Rights (FTR) for the Portugal-Spain electrical interconnection (on 17th of September) and the 16th Special Regime Auction for electricity acquired by last resort supplier to Special Regime Producers (on 22th of September).

 

Regarding the results of the FTR auction:

200 MW of optional FTR were auctioned for each direction of the cross-border capacity for the 4th Quarter of 2015; 100 MW were auctioned for the 1st Quarter of 2016 also for each direction and 100 MW for the Year 2016 for each direction.

OMIP is pleased to announce that several Iberian and Non-Iberian entities participated in the auction, and the auctioned quantities were awarded at:

  • 0.01 €/MWh for the FTR E-P – 4th Quarter 2015
  • 0.05 €/MWh for the FTR P-E – 4th Quarter 2015
  • 0.02 €/MWh for the FTR E-P – 1st Quarter 2016
  • 0.07 €/MWh for the FTR P-E – 1st Quarter 2016
  • 0.01 €/MWh for the FTR E-P – Year 2016
  • 0.05 €/MWh for the FTR P-E – Year 2016

The next FTR Auction will occur next December, 2015.

 

Concerning the PRE Auction results:

A volume of 400 PTEL Baseload Quarter Futures were auctioned for the delivery period of the 4th quarter 2015 (200) and 1st quarter 2016 (200) and also 100 PTEL Baseload Year Futures for the delivery period of 2016, which corresponds to the total volume of 1,756,800 MWh. The delivery rate amounts to 1 MW per contract.

A total of 8 OMIP members participated in this auction and 7 ended up with allocated volumes on the 4th quarter of 2015, 4 on the 1st quarter of 2016 and 4 on the year 2016.

The quantity auctioned was completely allocated at a closing price of 47.45€/MWh for the 4th quarter 2015; 45.70€/MWh for the 1st quarter 2016 and 46.57€/MWh for the year 2016, following a total of 11 rounds.

The allocated quantities were registered for clearing and settlement with OMIClear - the Clearing House of the MIBEL Derivatives Market.

 
      



Reporting REMIT