Observatorio de I+D+i UPM

Memorias de investigación
Book chapters:
Assessment of the Operation of the Iberian Energy Forward Markets
Year:2011
Research Areas
  • Engineering,
  • Social sciences,
  • Economy
Information
Abstract
A comprehensive assessment of the trading development in the Iberian power futures market managed by OMIP (Iberian Energy Market Operator, Portuguese Pool) in its first four and a half years of existence is performed. Evolution of the traded volumes in the continuous market is modelled as a function of factors supposedly performing as key liquidity drivers. This market has steadily grown in number of participants and traded volumes, but still is very far from the levels reached by the most mature European markets (Nord Pool and EEX). Liquidity in the continuous market is favoured by the dominant and fast growing "Over The Counter" (OTC) market, by OTC cleared volumes in the futures market, and by the enrollment of financial agents. Supervision of this market and the regulated forward contracting mechanisms of power and gas in the Iberian Energy Market has been successful. Stronger cooperation between Iberian financial and energy regulators will bring oversight gains, especially for the OTC power market. New Spanish energy derivatives clearing houses and European legislative developments about market integrity and transparency in energy markets will contribute to stronger oversight. Keywords: Futures Market, OTC, Forward Contracting Auctions, Energy Regulation, Market Supervision.
International
Si
Book Edition
1
Book Publishing
LACCEI
ISBN
978-0-9822896-4-8
Series
Book title
ENGINEERING FOR A SMARTER PLANET: INNOVATION, ITC, AND COMPUTATIONAL TOOLS FOR SUSTAINABLE DEVELOPMENT
From page
1
To page
10
Participants
  • Autor: Carlos Rodriguez Monroy (UPM)
  • Autor: Alvaro Capitan Herraiz (UPM)
Research Group, Departaments and Institutes related
  • Creador: Grupo de Investigación: Ingeniería de la Calidad Alimentaria
  • Departamento: Ingeniería de Organización, Administración de Empresas y Estadística
S2i 2020 Observatorio de investigación @ UPM con la colaboración del Consejo Social UPM
Cofinanciación del MINECO en el marco del Programa INNCIDE 2011 (OTR-2011-0236)
Cofinanciación del MINECO en el marco del Programa INNPACTO (IPT-020000-2010-22)