MIBEL MONTHLY INFORMATION JULY Board of Regulators
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1 MIBEL MONTHLY INFORMATION JULY 213 Board of Regulators
2 HIGHLIGHTS OF THE MONTH July 213 The arithmetic mean price of the month was 51,16 /MWh in the Spanish bidding area and 51,4 /MWh in the Portuguese bidding area The volume traded in the day-ahead market was GWh ( GWh of energy acquired in Spain and GWh of energy acquired in Portugal) The volume traded in OMIP futures market was GWh (2.933 contracts negotiated in continuous) The estimated OTC traded volume was GWh (OTC not registered: GWh, OTC registered: GWh) Futures traded in OMIP quoted above Nordpool and EPEX(DE) contracts Monthly report July 213 2
3 IBERIAN MARKET CHARACTERIZATION Market structure 1% Market share by company E.ON 2% RENT GALP 1% % 2% % % Traded energy (sales) SPAIN: GWh 7% 9% GNF 16% 15% 37% 47% 8% 7% IBER 17% 2% 9% 6% 5% EDP 18% 19% PORTUGAL: GWh 4% 3% Others 24% 15% 8% 24% 68% 2% 1% END 22% 28% Spot market Intraday market % Sales Purchases Bilateral contracts Ancillary services Monthly report July 213 3
4 Capacity (MW) Energy (MWh) IBERIAN MARKET CHARACTERIZATION Spain Portugal interconnection 1 Jul Capacity and usage EXPORT Average capacity: 2176 MW Average usage: 144 MWh Average capacity: 213 MW Average usage: 7 MWh IMPORT Imports Exports Import capacity Export capacity Monthly report July 213 4
5 Prices (EUR/MWh) 1 Jul DAY-AHEAD AND INTRADAY MARKET Evolution of the day-ahead market Rent (thousand EUR) 8 7 Day-ahead market prices and congestion rent Spain: 51,16 EUR/MWh Portugal: 51,4 EUR/MWh MIBEL: 51,22 EUR/MWh Spread (PT - ES):,24 EUR/MWh Congestion rent: 373,12 thousand EUR Congestion rent Prices Spain Prices Portugal Monthly report July 213 5
6 GWh DAY-AHEAD AND INTRADAY MARKET Energy placed in the day-ahead market MIBEL Spain 5% 2% 9% 9% 53% 4% Jul Nuclear Coal CCGT Hydro Fuel-Gas Renewables & Cogen Others 4% 22% 9% 11% 51% 3% Portugal 33% 5% 21% 41% Monthly report July 213 6
7 Demand (GWh) Prices (EUR/MWh) DAY-AHEAD AND INTRADAY MARKET Evolution of the intraday market Intraday market prices ,95 52,59 51,48 5,99 52,72 52,34 54,11 54,77 55,4 53,87 54,32 54, Intraday market session Demand Spain Demand Portugal Prices Spain Prices Portugal Monthly report July 213 7
8 FUTURES MARKET Continuous trading, auctions and OTC Registered OTC 13% 17% Continuous trading and auctions 8% 4% Contracts: Energy: 36 9 GWh Market Auctions % % Contracts: Continuous trading 1% 1% Energy: GWh Registered OTC Energy: GWh 79% Unregistered OTC 79% OTC MEFF 48% Power Contracts: 47% 52% OTC OMIClear 53% Information about not registered OTC: estimated data Monthly report July 213 8
9 EUR/MWh MARKET REFERENCES International electricity markets Spot markets Futures/Forward markets 9 8 Nordpool: 33,81 EUR/MWh EPEX(FR): 34,59 EUR/MWh EPEX(DE): 36,42 EUR/MWh OMIE(ES): 51,16 EUR/MWh OMIE(PT): 51,4 EUR/MWh 9 8 Nordpool EPEX(FR) EPEX(DE) 7 7 OMIE(ES) 6 6 OMIE(PT) Jul Nordpool EPEX(FR) EPEX(DE) OMIE(ES) OMIE(PT) Quotations from the 2 th day of the month Monthly report July 213 9
10 Index 1 = 1 Jul 213 MARKET REFERENCES Primary energy markets Spot markets Futures markets Jul 213: Brent: 79,31 Eur/bbl FO - NWE: 449,49 Eur/ton GN - TTF: 26,4 Eur/MWh gas Coal API2: 57,15 Eur/ton Brent FO - NWE GN - TTF Coal API Jul Brent FO - NWE GN - TTF Coal API Quotations from the 2 th day of the month Monthly report July 213 1
11 MONTHLY SUMMARY July 213 Jul 213 Jun 213 Jul 212 Market structure Traded energy MIBEL (GWh) Energy ES (%) 88% 86% 88% Energy PT (%) 12% 14% 12% ES-PT interconnection Export capacity (MW) Average use (MWh) Import capacity (MW) Average use (MWh) Day-ahead market Price MIBEL (Eur/MWh) 51,22 41,4 5,3 Price ES 51,16 4,87 5,29 Price PT 51,4 41,7 5,35 Spread,24,83,6 Congest. rents (13 Eur) 373,12 431,96 55,81 Futures/Forward market Traded volume (GWh) Continuous trading Auctions Registered OTC Unregistered OTC No. of contracts Monthly report July
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 July
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