18 November 2019
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  • MIBEL Data 

    The MIBEL daily market is a platform where electricity is traded for delivery the day following that of the negotiation. This market forms the price for each one of the 24 hours of each day and for each one of the 365 or 366 days of each year. The daily market platform to which Portugal belongs is managed by OMEL, the trading time being determined by the official time in Spain, which is in the Central European Time (CET) Zone.

    This market operates through the matching of offers - buying and selling - by the various agents registered to operate in that market, indicating for each deal the day and hour to which it relates, the price and the corresponding amount of energy.

    The daily operation of the market in which the Portuguese agents participate implies that all buyers pay the same price and all sellers receive the same price, in what is known as the single marginal price model. The operating rules of this organised market are specific to the market operator (OMEL).

    Further, as the daily market includes both Portugal and Spain, it is it necessary to forecast circumstances where the interconnection capacity commercially available between the two countries is not sufficient to support the cross-border flows of energy that the matching of offers on the market determines.

    Whenever this occurs, the current market rules determine that the two market areas corresponding to Portugal and Spain should be separated and that specific prices should be found for each of the areas mentioned. This mechanism is designated as market splitting.

    Whenever the prices for each of the market areas are not equal, it is said that there is a price spread between them. The reason for a market split (and corresponding price spreads) may be due to a multiplicity of factors, from the structural organisation of the production in each of the areas, insufficient capacity in the interconnection or in the behaviour of the agents.

    The performance of supervision is intended to minimise market split situations and, in particular, to guarantee that they are not attributable to anti-competitive behaviour by the agents.

    ERSE makes a daily market report available for every day of the last month, with base market information, which is complemented by a monthly report for the previous months.

    The MIBEL intraday market is a complementary platform for the daily market, where electricity is traded to adjust the quantities traded in the daily market, comprising 6 daily trading sessions. Each of the intraday market sessions forms a price for the hours which are the object of negotiation in each session.

    On this page you can access the various periodical reports containing market information as well as the series of values related to the operations of the electricity market:
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Extinction of Regulated Tariffs

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