In accordance with the “Procedures Manual of
the Joint Management Mechanism for the Portugal – Spain Interconnection”,
auctions are taking place for the allocation of financial rights of interconnection capacity between
Spain and Portugal (FTR - Financial Transmission Rights).
The auction mechanism for the forward management of the interconnection between Portugal and Spain follows the harmonized allocation rules provided for in Commission Regulation (EU) 2016/1719 of 26 September 2016 laying down guidelines on the allocation of term capacity, including regional requirements and specific offer zone boundary requirements.
Explicit auctions are a process of interconnection capacity management that develops independently of the electricity market and allows the acquisition of rights to use part of the interconnection capacity, prior to the realization of the daily market.
REN - Rede Eléctrica Nacional , S.A., acting as issuer of these instruments, participate in the auctions organized by the Joint Allocation Office (JAO), which acts as the “Single Allocation Platform” (SAP) for all TSOs operating in accordance with the law from the EU.
For further information please check the websites of ERSE or JAO.