Introduction

Electricity is a vital utility in the everyday life of households, and essential for business operations. At OMIE, we manage the wholesale electricity market, where market agents trade the amounts they need (MWh) at publicly stated and transparent prices.

OMIE manages the entirety of the markets (daily and intraday) for the whole of the Iberian Peninsula, and its operating model is the same as the one applied by many other European markets.

Taking part in the market involves an electronic platform that is easy to access via the internet, which permits the simultaneous participation of a large number of agents and the management of a high number of bids for the purchase and sale of electricity over a short period of time. OMIE also carries out the invoicing and settlement of the energy traded on these markets, as well as overseeing the corresponding financial settlements.

Our company strives daily to provide our customers with an ever better service and our shareholders with increasingly higher value.

OMIE in detail

The company OMI-Polo Español S.A. (OMIE) is regulated by the Santiago International Agreement, regarding the implementation of an Iberian electricity market (MIBEL) between the Kingdom of Spain and the Republic of Portugal, and subject to the rules and regulations governing Spain’s electricity sector.

OMIE belongs to the Operador del Mercado Ibérico (Iberian Market Operator) business group, whose business structure is shown in the following graphic.

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Half of OMIE’s stock is owned by the Spanish company OMEL, with the other half held by the Portuguese company OMIP SGPS, S.A.

As the electricity market operator, OMIE is regulated by Spain’s Law 24/2013, on the Electricity Sector and, among others, by Decree 2019/1997, of 26 December, which organises and regulates the electricity generation market.