MIBGAS, the operator of Spain’s Organized Market for Gas (Mercado Organizado de Gas), reached yesterday a new record daily (bilateral) volume in continuous trading with 158,106 MWh, the highest value for this type of negotiation since it started operating in December 2015. Bilateral traded volume includes all deals on the MIBGAS platform, excluding those involving regulated natural gas products.

Total traded volume at MIBGAS yesterday was 164,206 MWh, the third highest daily volume to date, behind the values registered on 30 June 2016 (214,852 MWh) and 5 January 2018 (172,714 MWh).

In 2018, to date, total traded volume at MIBGAS represents a share of total national demand of 4.37%, the highest value since October 2017, when it reached 6.25% of total demand.

A higher volume of bilateral trading is a positive sign of the dynamism and evolution of the Organized Market for Gas. In 2018, to date, bilateral trading stands at 2.2 TWh out of a total traded volume of 2.9 TWh. In 2017, the bilateral volume in continuous trading (10.4 TWh) was 78% of the total traded volume, up from 51% in 2016 (3.4 TWh).

Activity at MIBGAS continued to strengthen in 2017 relative to 2016, even doubling some of the indicators. Thus, the number of registered agents at MIBGAS grew from 45 at the end of 2016 to 65 at the end of 2017 and total traded volume more than doubled, from 6.6 TWh in 2016 (2.0% of total demand) to 13.4 TWh in 2017 (3.8% of total demand).