MIBEL MONTHLY INFORMATION OCTOBER Board of Regulators

Transcription

1 MIBEL MONTHLY INFORMATION OCTOBER 215 Board of Regulators

2 HIGHLIGHTS OF THE MONTH October215 The arithmetic mean price of the month was 49,9 /MWh in the Spanish bidding area and 49,89 /MWh in the Portuguese bidding area The volume negotiated in the day-ahead market was GWh (14.41 GWh of energy acquired in Spain and 4.96 GWh of energy acquired in Portugal) The volume negotiated in OMIP futures market was GWh (1.587 contracts negotiated in continuous and contracts negotiated in auctions) and in EEX futures market was 6 GWh (31 contracts negotiated in continuous) The estimated OTC traded volume was GWh (OTC not registered: GWh and OTC registered: 8.98 GWh (4.297 GWh registered in OMIClear, GWh registered in Meff Power and GWh registered in EEX-EEC) The majority of contracts traded at OMIP quoted above Nordpool, EPEX(DE) and EPEX(FR) contracts Monthly report October215 2

3 IBERIAN MARKET CHARACTERIZATION Market structure Market share by company Traded energy (sales) 1% 9% 8% 7% END 15% E.ON 5% GNF 14% RENTGALP 2% % 4% % 1% 2% 17% SPAIN: GWh 6% 43% 44% 7% 6% 5% Others 2% 16% PORTUGAL: GWh 3% 4% 3% EDP 22% 18% 24% 6% 67% 2% 1% IBER 22% 24% Spot market Intraday market % Sales Purchases Bilateral contracts Ancillary services Monthly report October215 3

4 31/1/215 IBERIAN MARKET CHARACTERIZATION Spain Portugal interconnection 1 Oct Capacity and usage 3. EXPORT Average capacity: 1873 MW Average usage: 261 MWh Average capacity: 2781 MW Average usage: 629 MWh -3. IMPORT. -4. Imports Exports Import capacity Export capacity Monthly report October215 4

5 Prices (EUR/MWh) 1 Oct DAY-AHEAD AND INTRADAY MARKET Evolution of the day-ahead market Rent (thousand EUR) 7 6 Day-ahead market prices and congestion rent Spain: 49,9 EUR/MWh Portugal: 49,89 EUR/MWh MIBEL: 49,9 EUR/MWh Spread (PT - ES): EUR/MWh Congestion rent: 21,6 thousand EUR Congestion rent Prices Spain Prices Portugal Monthly report October215 5

6 GWh DAY-AHEAD AND INTRADAY MARKET Energy placed in the day-ahead market MIBEL Spain 6% 26% 7% 5% 57% Oct Portugal Nuclear Coal CCGT Hydro Fuel-Gas Renewables & Cogen Others 1 5 4% 26% 8% 7% 54% 29% 13% 15% 43% Monthly report October215 6

7 Demand Prices DAY-AHEAD AND INTRADAY MARKET Evolution of the intraday market Intraday market prices ,27 49,37 49,24 49,36 51,8 5,93 52,82 53,4 52,76 53, 51,8 51, Intraday market session Demand Spain Demand Portugal Prices Spain Prices Portugal Monthly report October215 7

8 FUTURES MARKET Continuous trading, auctions and OTC Market Continuous Market and auctions 11% Energy: 13 6 GWh Auctions % % Energy: GWh 3% Contracts: Unregistered OTC 2% 23% 1% Continuous market 1% Contracts: Registered OTC 74% Registered OTC 69% OTC EEX-ECC 31% 9% Energy: 8 98 GWh 46% OTC OMIClear 48% OTC MEFF Power 21% Contracts: % Information about not registered OTC: estimated data Products: Options, Futures, Forwards, Swaps, FTR and OTC derivatives Monthly report October215 8

9 EUR/MWh MARKET REFERENCES International electricity markets Spot markets Futures markets Nordpool EPEX(FR) 1 Nordpool: 22,13 EUR/MWh EPEX(FR): 44,95 EUR/MWh EPEX(DE): 39,36 EUR/MWh OMIE(ES): 49,9 EUR/MWh OMIE(PT): 49,89 EUR/MWh 1 Oct Last quotations at the 2 th day EPEX(DE) OMIE(ES) OMIE(PT) Nordpool EPEX(FR) EPEX(DE) OMIE(ES) OMIE(PT) Monthly report October215 9

10 Index 1 = 1 Oct 215 MARKET REFERENCES Primary energy markets Oct 215: Brent: 42,48 EUR/bbl FO - NWE: 189,64 EUR/ton GN - TTF: 18 EUR/MWh gas Coal API2: 48,28 EUR/ton Spot markets Futures markets Brent FO - NWE GN - TTF Coal API Oct Brent FO - NWE GN - TTF Coal API2 85 Last quotations at the 2 th day Monthly report October215 1

11 MONTHLY SUMMARY October215 Oct 215 Sept 215 Oct 214 Market structure Traded energy MIBEL (GWh) Energy ES (%) 83% 85% 85% Energy PT (%) 17% 15% 15% ES-PT interconnection Export capacity (MW) Average use (MWh) Import capacity (MW) Average use (MWh) Day-ahead market Price MIBEL (EUR/MWh) 49,9 51,89 55,18 Price ES 49,9 51,88 55,11 Price PT 49,89 51,92 55,39 Spread,,4,27 Congest. rents (thousand EUR) 21,6 13,42 31,25 Futures/Forward market Traded volume (GWh) Continuous trading Auctions Registered OTC Unregistered OTC No. of contracts Monthly report October215 11

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 October215 12