General Information REMIT

Transparency is a vital aspect and one of the key features of any organised market. Its observance is a requirement for any efficient pricing process and, therefore, for upholding trust in the market.

The spot electricity market in MIBEL is considered to be one of Europe’s most transparent wholesale markets. Since the market was first launched, in January 1998, the requirement to link bids to purchase and sale units has been one of the decisive aspects for ensuring its transparency.

Since December 2011, there has been a new European regulatory framework regarding the integrity and transparency of the wholesale energy market that lays down rules that forbid any malpractice, and makes the Agency for the Cooperation of Energy Regulators (ACER) responsible for the control and supervision of the market in close collaboration with national regulatory authorities. These rules are developed in Commission Implementing Regulation (EU) No 1348/2014 of 17 December 2014.

OMIE, as the entity responsible for managing daily and intraday trading on the Iberian Electricity Market provides the service for reporting matched and unmatched orders in the market by virtue of the aforesaid Regulation as Registered Reporting Mechanisms (RRM) of ACER.

Those agents that wish to sign up for the reporting services, or just for the download service, are to follow the steps specified in the User Guide for Requesting REMIT Reporting Services.

In addition, OMIE provides the UTI of all the orders matched on the market.

All market results are available at Market Results

From 16 October 2019, OMIE will provide the reporting service to ACER of the operations in the market through the entity “OMI RRM” as Registered Reporting Mechanisms (RRM) of ACER. More information is available at the following link: GrupoOMI

For more details on European regulations, see our section on Market Regulations, European Union.

REGULATION (EU) No 1227/2011 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 25 October 2011 on wholesale energy market integrity and transparency

remit_ingles.pdf (812.39 KB)