Directive (ERSE) No. 11/2025 of 18 November was published, approving the Manual of Procedures for the registration and bilateral contracting of electricity (“MP PPA”).
The MP PPA establishes the terms and conditions applicable to the registration of bilateral electricity contracts and voluntary bilateral electricity procurement, determining, among other aspects, the following:
- Bilateral electricity contracts subject to registration: The MP PPA defines the conditions under which a contract for the purchase and sale of electricity with physical delivery (“PPA”) is subject to mandatory registration on the electronic platform managed by OMIP, S.A.; (i) the contract must have a duration of more than one year, or it must include automatic renewal clauses; (ii) it must have an underlying notional hourly power of not less than 1 MW and a notional transaction volume of not less than 1.5 GWh/year, (iii) at least one of the counterparties must be domiciled in the national electricity system;
- Functions of OMIP, S.A. as managing entity: Under the terms of this manual and as the entity managing the registration and bilateral contracting of electricity, OMIP, S.A. is responsible for the development, management and maintenance of the electronic platform on which the registration and bilateral contracting activity will be carried out.
- Electronic Platform: The MP PPA establishes the functionalities of the Electronic Platform through which the activity of registration and negotiation of PPAs will be carried out.
- ERSE's regulatory and supervisory powers: ERSE is responsible for regulating and supervising the activity of registration and bilateral contracting, with a special focus on the activity carried out by OMIP, S.A. as the managing entity.
- Registration of entities and bilateral contracts: The procedure for registering producers and buyers who have entered or will enter into PPAs on the electronic platform is established, as well as the procedure for the mandatory registration of PPAs.
- Negotiation of bilateral contracts: The MP PPA also provides for an activity that complements the registration of bilateral contracts. This activity involves promoting the negotiation and execution of bilateral transactions by users of the platform. This negotiation is voluntary.
Directive No. 11/2025 came into force on 19 November 2025 and can be consulted here.
