02/06/2022

The Portuguese and Spanish Governments agreed on the creation and implementation of an exceptional and temporary mechanism for the adjustment of electricity production costs (hereinafter referred to as the Adjustment Mechanism) with an impact on the formation of the MIBEL electricity market price.

This mechanism was given legal expression with the publication of Decree-Law No 33/2022 of 14 May in Portugal and Royal Decree-Law No 10/2022 of 13 May in Spain. In the case of Portugal, for reasons related to the national legal system, some of the provisions for implementing the mechanism are laid down in Directive No 11/2022, of 14 May.

In the context of the application of Directive No 11/2022, of 14 May, and in order to ensure its correct application, a technical implementation note has been drawn up, the main purpose of which is to clarify, in a comprehensive and transparent manner, the generality of market agents operating in the Portuguese MIBEL zone with regard to certain aspects of the implementation of the said Adjustment Mechanism.

Click here to view the Technical Implementation Note