21/03/2022

During the 2023 financial year MIBGAS consolidated its position as a reference organised market in south-western Europe with, among other things, the launch of new products (including MIBGAS contracts indexed to the TTF and monthly LNG futures products) and the incorporation of new price indices: MIBGAS PVB Last Price Index (LPI) Day-Ahead and MIBGAS PVB Average Price Index (API) Day-Ahead.

Total trading on the MIBGAS Iberian gas market platform reached 158.1 TWh in 2023, 22% more than in 2022 when it was just over 129.5 TWh. The proportion of total Spanish demand traded on MIBGAS averaged 49.5% in 2023, up by 35.62% on 2022 when the proportion was 36.5%. The number of agents also increased, from 175 at the end of 2022 to 195 at the end of 2023.

All these data, and much more, can be consulted in the organised gas market annual report 2023 (in Spanish) which is available on the MIBGAS website.

Contribution to the development of the renewable gases market

As the chairman of MIBGAS, Raúl Yunta Huete, states in his foreword to the 2023 annual report:

“MIBGAS is determined to contribute to the development of the Spanish market for renewable gases and energy efficiency, facilitating both the disclosure of market prices and its incipient liquidity. In any case, MIBGAS is naturally configured as the Spanish marketplace for renewable gases, with its knowledge of the development of products and services that promote the liquidity of the market for these gases.”

Along these lines, MIBGAS has created a working group which, in 2024, will be in charge of evaluating the price of renewable hydrogen in order to create a reference index.

Link to the 2023 Annual Report on the organised gas market (in Spanish).