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The CNMC proposes that Gas Natural and Endesa act as market makers

The Comisión Nacional de los Mercados y la Competencia (CNMC) published its proposal reporting that Gas Natural Fenosa and Endesa act as makers before the low demand generation for the gas market, which was created in 2015 to increase the transparency and competitiveness in the sector.

In January, in the midst of the escalation of electricity prices in the wholesale market, the Government decided to launch the profile of market maker to create more offer and to increase competitiveness in the Spanish gas market (Mibgas), with the aim of guaranteeing the competence needed to respond the requests of operators and to prevent situations in which the price can raise suddenly.

The CNMC reminded that in 2016, the first year of operation of the organized gas market, in Spain only 6,566 megawatt/hour (MWh) were contracted, a 2 % of the national demand, “a very low number in comparison with other European countries”.

Currently, in Spain only Gunvor acts as market maker, a Dutch-based marketer, which signed an agreement for the first quarter of 2017 with Mibgas, which has already opened the deadline to select the one for the second semester.

Source: lavanguardia.com