In accordance with Order ITC/4112/2005, of 30 December, which establishes the applicable system for making intra-Community and international exchanges of electrical energy, an auction mechanism is established for contracts based on the price difference for each hour on the daily market between the Spanish electrical system and the Portuguese electrical system in different time horizons (SP-PT INTERCONNECTION AUCTION).
The Spanish Energy Commission and the Spanish Securities and Investments Board are the supervisory bodies for the same.
The auctions are held by an independent entity which is designated by the Ministry for Industry, Tourism and Trade.
In June 2009, the Ministry for Industry, Tourism and Trade designated Operador del Mercado ibérico de la energía, polo español, S.A. (OMEL), through its subsidiary OMEL MERCADOS AGENCIA DE VALORES S.A.U., as the entity in charge of holding these auctions.
As part of its functions, OMEL MERCADOS AGENCIA DE VALORES S.A.U. can avail of the interconnection auction website (http://www.subastasdifprecios.omie.es) with all the information of a non-confidential nature associated with SP-PT interconnection auctions, including the requisites and user guides to carry out the process of prequalification and qualification in order to participate in the same. Among other relevant aspects, also presented is the reference legislation, the links to relevant entities in relation to these auctions and contact data for OMEL MERCADOS AGENCIA DE VALORES S.A.U. for all matters relating to the same.