MIBGAS, the Iberian Gas Market, has joined Europex (Association of European Energy Exchange) as a full member as of today. Raúl Yunta Huete, president of MIBGAS, shall be the representative in the general assembly of Europex.
Europex is a not-for-profit association of European energy exchanges with 28 members up to now. It represents the interests of exchange-based wholesale electricity, gas and environmental markets, focuses on developments of the European regulatory framework for wholesale energy trading and provides a discussion platform at European level.
The activities of MIBGAS are designed to increase competition within the gas sector, increase security of supply for consumers and foster liquidity by ensuring non-discriminatory and equal access to the gas market in the Iberian Peninsula.
Spot and prompt products are traded on MIBGAS, including within-day, day-ahead and month-ahead natural gas contracts, all with physical delivery at the Iberian virtual balancing point (PVB or Punto Virtual de Balance). Non-financial derivatives with a time horizon beyond month ahead are traded at MIBGAS’ subsidiary, MIBGAS Derivatives, also with physical delivery at the PVB. Other products traded on the platform include LNG products in regasification plants and OTC trade registration services.
MIBGAS Derivatives is the first European gas Exchange providing a trading platform to negotiate physical LNG products in every Spanish regasification plant and shortly in the virtualised set of plants named TVB (Virtual Balance Tank).