Electricity Market – Online Course 2026

UNEF is organizing a new edition of the Electricity Market course, which will take place on June 9, 10, and 11 in the morning schedule.

Objective

In this course, the regulatory framework, the operation of the different markets, the interaction between markets, potential new asset and/or energy management strategies, the new reality of PPAs, and the role of demand in these markets will be studied.

Understand how the wholesale electricity market operates in our country: the day-ahead and intraday continuous markets, as well as balancing markets linked to ancillary services, including technical constraints and primary, secondary, and tertiary reserves.

Target audience
This course is aimed at anyone interested in understanding how the electricity market works following recent changes (such as quarter-hourly products), and especially professionals who want to maintain a proactive approach in managing their generation or storage assets.

June 9, 10 and 11

Prices

Members: 300 + VAT

General Admission: 375 + VAT

4x3 promotion: tickets available for this course.

Module 1. Regulatory Framework and Introduction to Market Operation
Tuesday, June 9

10:00 – 10:15 → Course introduction

José Donoso, CEO, UNEF

10:15 – 11:15 → Regulatory Framework of the Electricity Market. 50-minute presentation and 10-minute Q&A

11:15 – 12:15 → Spot Market: day-ahead and intraday. 50-minute presentation.

Yolanda Cuéllar, Director of Market Operations, OMIE

• Introduction and regulatory framework.
• Day-ahead market: bid submission, price formation and matching results, obtaining matching results.
• Intraday market: auctions and continuous market, bid submission, price formation and matching results.
• Negative prices and curtailment mechanisms.
• Case study: submitting a bid to the day-ahead market for a PV installation. 10-minute Q&A.

12:15 – 13:15 → Market settlement and billing. 50-minute presentation.

Eugenio Malillos, Head of Billing and Settlement, OMIE

• Overview of the settlement system.
• Settlement of day-ahead and intraday auction markets (IDA and continuous): local and cross-border transactions, congestion rents, settlement of the renewable energy economic regime.
• Billing and applicable taxes in the market.
• Collections, payments, and management of defaults.
• Formalization, control, and monitoring of payment guarantees. 10-minute Q&A.

Module 2. Balancing Services (Operational Markets) and Futures Market
Wednesday, June 10

10:00 – 11:00 → Balancing services for system operation: technical constraints, real-time adjustments, imbalances, and voltage control. 45-minute presentation.

Laura Moreno, Head of Market Operations Department, REE

• Introduction and regulatory framework of system balancing services.
• Sequence of balancing service markets.
• Participation requirements.
• Bid submission.
• Price formation and matching results.
• Imbalances and associated costs.
• Balancing markets in which PV can participate. 15-minute Q&A.

11:00 – 12:00 → Forward market. 50-minute presentation.

Carlos Albero, Market Area Manager, DNV
Valentín Albinet, Global Practice Lead, Power Price Forecast, DNV

• Introduction to futures market products: Cal, Q, M, Base and Peak
• Operations for the energy management of a photovoltaic installation
• Hedging strategies
• Futures markets
• How the different platforms work: OMIP, EEX
• Settlement of the main products
• Case study: hedging a solar plant with futures
• 10-minute Q&A session.

12:00 – 13:00 → Markets and PPAs: financing challenges. 45-minute presentation.

• Solutions to mitigate market risk.
• Bilateral/private PPAs: structures and risks.
• Financing. 15-minute Q&A.

Module 3. New Actors: Demand and the Role of Consumers
Thursday, June 11

10:00 – 11:00 → The role of storage in markets and ways to optimize its performance.

Susana Quintana Plaza, CEO, BM2Solar
Manuel Moliner, CCO, BM2Solar

11:00 – 12:00 → Self-consumption, aggregation and energy communities (CCEE). 50-minute presentation.

• Challenges and opportunities.
• Regulation.
• New agents: how they operate and participate in the market. 10-minute Q&A.

12:00 – 12:45 → Roundtable: challenges of merchant plants.

Moderated by Cristina Torres-Quevedo, Director of Regulation and Finance, Spanish Photovoltaic Union
María Pérez-Tabernero, Associate, Aurora Energy Research

• Price volatility and lack of revenue visibility.
• Geopolitical issues: the new global landscape.