The Spanish Securities Commission (CNMV) published an update on the Council of Regulators of the Iberian Electricity Market (CR MIBEL) Presidents Committee meeting, which reviewed its 2025 activities and approved its 2026 work plan. The council also updated its July 2022 guide on financial regulation and derivatives contracts in MIBEL to reflect regulatory changes affecting electricity derivatives, with publication planned in the coming days. During 2025, CR MIBEL highlighted a 15 December 2025 webinar on financing the energy transition, featuring European Commission Executive Vice-President Teresa Ribera and panels with Spanish and Portuguese electricity-sector associations and public-private financial entities. The council also engaged with key MIBEL participants, including system and market operators, central counterparties and representative associations, on issues such as European electricity market design, the development of flexibility markets and instruments amid growing distributed generation and renewable penetration, forward-market liquidity and financing tools for the energy transition, alongside ongoing monitoring of spot and forward markets and Spain-Portugal interconnection management. The council is continuing work on a study of flexibility instruments and markets and a study of participant profiles in MIBEL-based forward markets, which are due to be completed and published in 2026. The Portuguese Securities Market Commission (CMVM) is set to assume the rotating CR MIBEL presidency from 1 January 2026.

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