MIBEL MONTHLY INFORMATION OCTOBER Board of Regulators
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1 MIBEL MONTHLY INFORMATION OCTOBER 213 Board of Regulators
2 HIGHLIGHTS OF THE MONTH October 213 The arithmetic mean price of the month was 51,5 /MWh in the Spanish bidding area and 51,59 /MWh in the Portuguese bidding area The volume negotiated in the day-ahead market was GWh ( GWh of energy acquired in Spain and GWh of energy acquired in Portugal) The volume negotiated in OMIP futures market was GWh (5.743 contracts negotiated in continuous) The estimated OTC traded volume was GWh (OTC not registered: GWh, OTC registered: 1.79 GWh) Futures traded in OMIP quoted above Nordpool and EPEX(DE) contracts Monthly report October 213 2
3 IBERIAN MARKET CHARACTERIZATION Market structure 1% Market share by company E.ON 2% RENT GALP 1% % 3% % % Traded energy (sales) SPAIN: 3 2 GWh 8% 9% GNF 16% 15% 32% 49% 8% 7% IBER 16% 19% 11% 6% 5% END 17% 24% PORTUGAL: GWh 3% 4% 3% EDP 22% 21% 23% 5% 69% 2% 1% Others 25% 18% Spot market Intraday market % Sales Purchases Bilateral contracts Ancillary services Monthly report October 213 3
4 Capacity (MW) Energy (MWh) IBERIAN MARKET CHARACTERIZATION Spain Portugal interconnection 1 Oct Capacity and usage 2. EXPORT Average capacity: 213 MW Average usage: 683 MWh Average capacity: 1955 MW Average usage: 213 MWh IMPORT Imports Exports Import capacity Export capacity Monthly report October 213 4
5 Prices (EUR/MWh) 1 Oct DAY-AHEAD AND INTRADAY MARKET Evolution of the day-ahead market Rent (thousand EUR) 8 7 Day-ahead market prices and congestion rent Spain: 51,5 EUR/MWh Portugal: 51,59 EUR/MWh MIBEL: 51,53 EUR/MWh Spread (PT - ES):,9 EUR/MWh Congestion rent: 249,44 thousand EUR Congestion rent Prices Spain Prices Portugal Monthly report October 213 5
6 GWh DAY-AHEAD AND INTRADAY MARKET Energy placed in the day-ahead market MIBEL Spain 5% 2% 8% 6% 57% 5% Oct Nuclear Coal CCGT Hydro Fuel-Gas Renewables & Cogen Others 4% 21% 7% 1% 55% 4% Portugal 27% 1% 25% 47% Monthly report October 213 6
7 Demand (GWh) Prices (EUR/MWh) DAY-AHEAD AND INTRADAY MARKET Evolution of the intraday market Intraday market prices ,68 49,5 5,2 49,46 48,92 49,8 51,53 51,87 51,53 51,61 49,45 48, Intraday market session Demand Spain Demand Portugal Prices Spain Prices Portugal Monthly report October 213 7
8 FUTURES MARKET Continuous trading, auctions and OTC Market Continuous trading and auctions 12% 6% Energy: GWh Auctions % % Contracts: Energy: GWh Registered OTC 24% 21% Contracts: % Continuous trading 1% Registered OTC Energy: 1 79 GWh 73% Unregistered OTC 64% OTC MEFF Power 6% 68% Contracts: OTC OMIClear 32% 4% Information about not registered OTC: estimated data Monthly report October 213 8
9 EUR/MWh MARKET REFERENCES International electricity markets Spot markets Nordpool: 38,24 EUR/MWh EPEX(FR): 44,58 EUR/MWh EPEX(DE): 37,72 EUR/MWh OMIE(ES): 51,5 EUR/MWh OMIE(PT): 51,59 EUR/MWh Futures markets Nordpool EPEX(FR) EPEX(DE) OMIE(ES) OMIE(PT) 1 Oct Nordpool EPEX(FR) EPEX(DE) OMIE(ES) OMIE(PT) Quotations from the 2 th day of the month Monthly report October 213 9
10 Index 1 = 1 Oct 213 MARKET REFERENCES Primary energy markets Oct 213: Brent: 8,47 EUR/bbl FO - NWE: 438,6 EUR/ton GN - TTF: 25,75 EUR/MWh gas Coal API2: 6,85 EUR/ton Spot markets Futures markets Oct Brent FO - NWE GN - TTF Coal API Quotations from the 2 th day of the month Brent FO - NWE GN - TTF Coal API2 Monthly report October 213 1
11 MONTHLY SUMMARY October 213 Oct 213 Sept 213 Oct 212 Market structure Traded energy MIBEL (GWh) Energy ES (%) 85% 86% 88% Energy PT (%) 15% 14% 12% ES-PT interconnection Export capacity (MW) Average use (MWh) Import capacity (MW) Average use (MWh) Day-ahead market Price MIBEL (EUR/MWh) 51,53 5,31 45,75 Price ES 51,5 5,2 45,65 Price PT 51,59 5,68 46,11 Spread,9,48,46 Congest. rents (thousand EUR) 249,44 548,34 436,94 Futures/Forward market Traded volume (GWh) Continuous trading Auctions Registered OTC Unregistered OTC No. of contracts Monthly report October
12 Abbreviations, acronyms and sources Abbreviations and acronyms EDP - Energias de Portugal END Endesa IBD Iberdrola RENT REN Trading GNF Gas Natural Fenosa PT Portugal ES Spain MIBEL Iberian electricity market FR France DE Germany CCGT combined cycle gas turbine PRE special regime production OTC over the counter FO - NWE reference fuel oil with 1% sulphur used in Northwest Europe GN - TTF natural gas traded in the Dutch hub Title Transfer Facility Coal API2 imported coal delivered in Northwest Europe with a calorific value of 6 kcal/kg Sources of information REN REE OMI Clear OMIE OMIP MEFF Power EPEX Spot Nordpool Spot Nasdaq OMX EEX Reuters Monthly report October
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