Key facts: Spain
- Support scheme
- REER auctions (regulated price for awarded volume); merchant and PPA for most new solar
- Balancing responsibility
- Representante de mercado and sujeto de liquidación with Red Eléctrica
- Transmission system operator
- Red Eléctrica
- Exchanges
- OMIE day-ahead and intraday (Iberian market)
- Settlement interval
- 15 min
- Currency
- EUR
- Bidding zones
- ES (single zone; MIBEL with Portugal)
The Spanish power market for renewables
Spain has built more utility-scale solar than any other European country in recent years and shares the Iberian market, MIBEL, with Portugal. Daytime prices regularly fall to zero or below in spring and autumn, while evening peaks remain gas-driven, creating one of the widest intraday spreads in Europe.
Limited interconnection with France keeps Iberian prices partly decoupled from the rest of the continent.
REER auctions, market representation and Red Eléctrica rules
Since 2021 the REER scheme has awarded a fixed price to successful auction bidders for part of their output, with the rest sold merchant; most recent solar is merchant or PPA-backed. Producers participate in OMIE through a representante de mercado that also carries settlement responsibility with Red Eléctrica.
Red Eléctrica procures secondary and tertiary reserve and replacement reserve, and batteries are starting to enter these markets.
OMIE day-ahead and intraday trading in Spain
OMIE runs the Iberian day-ahead auction and several intraday auctions, plus continuous intraday trading through SIDC. Curtailment and negative prices at midday are a structural feature, so intraday re-trading and curtailment control decide a solar plant's captured price.
Imbalances are settled every 15 minutes against Red Eléctrica's balancing costs.
What SAMAWATT will offer in Spain
Spain is on the SAMAWATT roadmap. The service will mirror our other markets: forecasting, OMIE day-ahead and intraday trading, market representation and battery optimisation across spot and reserve markets.
Register interest below and we will contact you as soon as Spanish market access is live.
We are building Spain market access — coming soon. Register interest below and we'll contact you as soon as it's live.
- OMIE Day-Ahead
- OMIE Intraday
- REE balancing
- VPP aggregation
- PPA & merchant optimisation
Spain market: frequently asked questions
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