OMIP
Iberian Electricity Market
Overview
The Iberian Electricity Market (MIBEL) is a joint initiative of the Portuguese and Spanish government with a view to the construction of a regional electricity market. With MIBEL coming into force, every consumer in the Iberian Peninsula was able to obtain electricity, under free competition, from any producer or seller operating in both Portugal and Spain.
Thus, the MIBEL wholesale market currently comprises:
- A derivatives market (OMIP), where future electricity production and buying commitments are established. This market allows for a physical settlement (energy if delivered) or a financial settlement (compensation of monetary values underlying the trade). OMIP was established on 16 June 2003 and its creation was part of a common bilateral agreement between the governments of Portugal and Spain. OMIP (Operador do Mercado Ibérico de Energia – Pólo Português, S.G.M.R., S.A.) is the MIBEL derivatives exchange
- A spot market (OMEL), with a daily trading component (day-ahead market) and an intraday adjustment component (intraday market), in which electricity selling (production) and buying schedules are established for the day following the trade. OMI-Polo Español S.A. (OMIE) is regulated by an international agreement between Spain and Portugal and runs the spot power market in the Iberian Peninsula under the Spanish jurisdiction. OMI-Polo Español S.A. (OMIE) is the company responsible for managing the day-ahead and intraday spot electricity markets in Spain and Portugal. The firm also manages the billing and settlement for the energy purchased and sold in these markets.
website: https://www.omip.pt/en
Datasets
OMIP_EL_FUT
OMIP Spain and Portugal Power Futures
Schedule
The schedule for collecting the file is around 20:00 GMT on Spain business days.
Sample File
Sample file
Type
OMIP Power Futures data is stored under the type: #Electricity
Data Id and name
Some of the contract identifiers from OMIP are given below. These are used in object and data Id creation to make unique.
| Contract identifier | Description |
|---|---|
| FTB | Spain Base Load Futures(Physical and Financial) |
| FTK | Spain Peak Load Futures(Physical and Financial) |
| FWB | Spain Base Load Forwards (Physical) |
| SWB | Spain Base Load Swaps (Financial) |
| FPB | Portugal Base Load Futures (Financial) |
Examples of data Id and names:
| Data Id | Name |
|---|---|
| OMIP.EL.SP.FTB.BL.FUT | The Iberian Energy Derivatives Exchange Spain Baseload Power Futures Curve |
| OMIP.EL.SP.FTK.PL.FUT | The Iberian Energy Derivatives Exchange Spain Peakload Power Futures Curve |
| OMIP.EL.PT.FPB.BL.FUT | The Iberian Energy Derivatives Exchange Portugal Baseload Power Futures Curve |
Expiry Calendar
Below set of expiry calendars are used in calculating rolling forward data. The expiry and rollover calendars remain same.
| contract | Expiry Calendar |
|---|---|
| Days | ROMIPD |
| Weekend | ROMIPWKD |
| Week | ROMIPWK |
| Month | ROMIPM |
| Quarter | ROMIPELFQY |
| Year | ROMIPELFQY |
Attributes
Attributes with example values:
| Name | Value |
|---|---|
| Source* | OMIP |
| Source Name | The Iberian Energy Derivatives Exchange |
| Dataset | OMIP_EL_FUT |
| Dataset Name | The Iberian Energy Derivatives Exchange Power Futures |
| Base | EUR |
| Unit | MWH |
| Frequency | Business |
| Market | Futures |
| Commodity | Power |
| Location | Spain |
| Quote Calendar | HOMIP |
Validation
Data is validated for missing data points using OMIP holiday calendar for expected absences.
Licensing
This data requires agreement with OMIP before it can be supplied.
OMIE_EL_DAM
OMIE Day Ahead Market Prices
Schedule
The end of day file is retrieved around 14:00 GMT daily.
Sample File
Sample file for OMIE Power Day Ahead Updates
Type
OMIP Power Futures data is stored under the type: #Electricity
| Data Id | Name |
|---|---|
| #OMIE.EL.ES.DA | OMI-Polo Spanish SA Spain Power Day Ahead Price Curve |
| #OMIE.EL.PT.DA | OMI-Polo Spanish SA Portugal Power Day Ahead Price Curve |
| #OMIE.EL.IBER.DA | OMI-Polo Spanish SA Iberian Market Power Day Ahead Price Curve |
Daylight Savings Treatment
The hourly power updates are provided by OMIE in CET. These are loaded to database in UTC.
During the change to summertime OMIE delivers 23hourly pricing and volume updates. These are adjusted to the correct UTC hours during the Summer time changeover.
During the change to Winter time OMIE delivers 25 hourly updates. These are adjusted to the correct UTC hours during the Winter time changeover.
Attributes
| Name | Value |
|---|---|
| Source | OMIE |
| Source Name | OMI-Polo Español S.A. |
| Dataset | OMIE_EL_DA |
| Dataset Name | OMI-Polo Spanish SA Power Day Ahead Market Price |
| Currency | EUR |
| Unit | MWH |
| Frequency | Hourly |
| Market | Day Ahead |
| Commodity | Power |
| Location | Spain |
| Quote Calendar | Hourly |
| Expiry Calendar | REOD |
Validation
Data is validated for missing data points.
Licensing
Data is freely available in the vendor website and can be used by clients without permissions.
OMIP_NG_FUT
OMIP Spain Natural Gas Futures
Schedule
The schedule for collecting the file is 20:00 GMT Spain business days.
Sample File
Sample file
Type
OMIP Gas Futures data is stored under the type: #NaturalGas
Data Id and name
The contract identifiers from OMIP are given below. These are used in object and data Id creation to make unique.
| Contract identifier | Description |
|---|---|
| FTBSpain Base Load Futures(Physical and Financial) | |
| FTK | Spain Peak Load Futures(Physical and Financial) |
| FWB | Spain Base Load Forwards (Physical) |
| SWB | Spain Base Load Swaps (Financial) |
| FPB | Portugal Base Load Futures (Financial) |
Examples of data Id and names:
| Data Id | Name |
|---|---|
| OMIP.NG.SP.FGE.FUT | The Iberian Energy Derivatives Exchange Spain Natural Gas Futures Curve |
Attributes
Attributes with example values:
| Name | Example content |
|---|---|
| Source | OMIP |
| Source Name | The Iberian Energy Derivatives Exchange |
| Dataset | OMIP_NG_FUT |
| Dataset Name | The Iberian Energy Derivatives Exchange Natural Gas Physical Futures |
| Base | EUR |
| Unit | MWH |
| Frequency | Business |
| Market | Futures |
| Commodity | Natural Gas |
| Location | Spain |
| Quote Calendar | HOMIP |
Validation
Data is validated for missing data points using OMIP holiday calendar for expected absences.
Licensing
This data requires agreement with OMIP before it can be supplied.