MIBGAS and OMIE lset to launch an Iberian Transparency Platform for electricity and gas markets on January 1, 2021

OMIE and MIBGAS have started to work on developing a Centralized Iberian Transparency Platform. This platform will enable agents in the Iberian market, both in the electricity and gas sectors, to meet the requirements established in Article 4 of Europe's Regulation on Wholesale Energy Market Integrity and Transparency.

This initiative marks OMIE's and MIBGAS's commitment to making it easier for Iberian market players to comply with the requirements of that article on publishing insider information. This service - offered jointly by OMIE and MIBGAS - is free and will be available to agents starting January 1, 2021.

Article 4 of the Regulation on Wholesale Energy Market Integrity and Transparency outlines the obligation for market participants to publish insider information. It requires them to share "(...) in an effective and timely manner inside information which they possess in respect of business or facilities which the market participant concerned, or its parent undertaking or related undertaking, owns or controls (...)." As such, the Agency for the Cooperation of Energy Regulators (ACER) has stated that, in order to ensure the effective dissemination of insider information under Article 4, this process should be done on "Inside Information Platforms" or "IIPs." These transparency platforms must meet certain conditions that have to be certified by ACER.

As indicated in the Public Consultation "on the creation of a platform for publishing insider information" by the National Commission of Markets and Competition (Comisión Nacional de los Mercados y la Competencia or CNMC), participants in the gas and electricity markets are required to publish the type of information described in Article 4 of the Regulation through an IIP platform starting January 1, 2021.