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The Iberian Energy Derivatives Exchange

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OMIP and OMIClear Quarterly Auction Results, March 2016

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 10th auction of Financial Transmission Rights (FTR) for the Portugal-Spain electrical interconnection (on 10th of March) and the 18th Special Regime Auction for electricity acquired by last resort supplier to Special Regime Producers (on 17th of March).

 

Regarding the results of the FTR auction:

300 MW of optional FTR were auctioned for each direction of the cross-border capacity for the 2nd Quarter of 2016 and 100 MW for the 3rd Quarter of 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:

  • 0.04 €/MWh for the FTR E-P – 2nd Quarter 2016
  • 0.05 €/MWh for the FTR P-E – 2nd Quarter 2016
  • 0.04 €/MWh for the FTR E-P – 3rd Quarter 2016
  • 0.04 €/MWh for the FTR P-E – 3rd Quarter 2016

The next FTR Auction will occur next June, 2016.

 

Concerning the PRE Auction results:

A volume of 400 PTEL Baseload Quarter Futures were auctioned for the delivery period of the 2nd quarter 2016 (200) and 3rd quarter 2016 (200), which corresponds to the total volume of 878,400 MWh. The delivery rate amounts to 1 MW per contract.

A total of 12 OMIP members participated in this auction and 5 ended up with allocated volumes on the 2nd quarter of 2016 and 4 on the 3rd quarter of 2016.

The quantity auctioned was completely allocated at a closing price of 36.92€/MWh for the 2nd quarter 2016 and 44.15€/MWh for the 3rd quarter 2016, following a total of 6 rounds.

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

 
      



Reporting REMIT