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Press Release | 13 Jan 2020

OMIClear's cleared volume in 2019 exceeds 56 TWh, registering a growth of 72%

Secção: 

OMIClear, the MIBEL Clearing House and Central Counterparty (CCP), achieved in 2019 a clearing volume of 56.4 TWh in power and natural gas derivative contracts, which represents a 72% increase compared to 2018. Both segments, power and natural gas, showed strong growth over the previous year.

In the power segment, 2019 ended with a cleared volume of 40.3 TWh, 35% higher than 2018 (29.8 TWh). Increased liquidity in the OMIP power derivatives market was accompanied by an increasing interest from agents in trading long-term operations, with several OTCs registered on the longer maturities with contracts until the Year+7.

With regard to natural gas, 2019 is marked by the process of development of the Spanish wholesale market. In this context, in 2019 OMIClear cleared 16.1 TWh of natural gas contracts, a value more than 5 times higher than in 2018 (3.0 TWh), which highlights OMIClear's leading role in the Iberian gas market (in collaboration with MIBGAS and MIBGAS Derivatives). Also noteworthy is the number of new agents participating in OMIClear which increased significantly during the year, with more than 15 new agents.

These figures confirm OMIClear's strategy of a regional CCP model, open to all agent profiles, from Iberian retailers to financial institutions and major international utilities, with the aim of diversifying energy contract clearing services. In 2020 we will continue to work with all players in the sector to develop new products and services and to contribute to the evolution of the Iberian electricity and natural gas markets.