A leading technology platform

With a view to enabling agents to trade on our markets, OMIE maintains a straightforward virtual platform that provides them with secure and immediate access to all the services they require to place their bids via the internet. Furthermore, OMIE has a 24-hour technical service that attends directly to agents to help resolve any queries or problems they might have when accessing our operating systems.

An important part of our Market Operator Information System (SIOM in Spanish) is the European EUPHEMIA algorithm, a system that efficiently calculates electricity prices and is used in a collective and synchronised manner with all the other European electricity markets.

EUPHEMIA is the result of more than three years’ joint work by the EU’s main market operators. This new algorithm seeks to maximise any surplus or gain, regarding both buyers and sellers, at the same time as it fine-tunes the use of the capacity available at interconnections. This algorithm ensures that the interconnections are always used in the most efficient manner.

OMIE’s experts have been actively involved in the development of this new European algorithm, which contributes to the integration of the EU’s wholesale markets and, in short, to the construction of the Internal Energy Market.

For further details on the trading system’s operation, please click here.