Virtual PPA based on electricity futures

On June 24th, OMIP, the Iberian Energy Derivatives Exchange, announced the launch of electricity futures, forwards and swaps in the Iberian markets with maturities extending up to 8, 9 and 10 years.

On July 2nd, the first virtual 10-year PPA was announced. It consists of 3x “SPEL Base Futures” yearly contracts from 2021 to 2030, each one comprising the delivery of baseload electricity at a constant power of 1MW during all hours of the delivery periods at a price of 40,40 EUR/MWh, for a total supply of 263GWh throughout the 10-year term. These contracts are marked-to-market daily, and cleared and settled at OMIClear, the Iberian Energy Clearing House.

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