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The Iberian Energy Derivatives Exchange

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OMIP and OMIClear Quarterly Auctions Results. June 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 7th auction of Financial Transmission Rights (FTR) for the Portugal-Spain electrical interconnection (on 9th of June) and the 15th Special Regime Auction for electricity acquired by last resort supplier to Special Regime Producers (on 24th of June).

Regarding the results of the FTR auction:

200 MW of optional FTR were auctioned for each direction of the cross-border capacity for the 3rd Quarter of 2015 and 100 MW were auctioned for the 4th Quarter of 2015 also for each direction.

OMIP is pleased to announce that 10 Iberian and Non-Iberian entities participated in the auction, and the auctioned quantities were awarded at:

  • 0.02 €/MWh for the FTR E-P – 3rd Quarter 2015
  • 0.04 €/MWh for the FTR P-E – 3rd Quarter 2015
  • 0.06 €/MWh for the FTR E-P – 4th Quarter 2015
  • 0.12 €/MWh for the FTR P-E – 4th Quarter 2015

The next FTR Auction will occur next September, 2015.

 

Concerning the PRE Auction results:

A volume of 400 PTEL Baseload Quarter Futures were auctioned for the delivery period of the 3rd quarter 2015 (200) and 4th quarter 2015 (200) and also 75 PTEL Baseload Year Futures for the delivery period of 2016, which corresponds to the total volume of 1,542,200 MWh. The delivery rate amounts to 1 MW per contract.

A total of 9 OMIP members participated in this auction and 7 ended up with allocated volumes on the 3rd quarter of 2015, 4 on the 4th quarter of 2015 and 5 on the year 2016.

The quantity auctioned was completely allocated at a closing price of 54.15€/MWh for the 3rd quarter 2015, 49.10€/MWh for the 4th quarter 2015 and 48.65€/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