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BOE-A-2026-19329 ·17 September 2026 ·orden Medium impact
Administrative

Electricity operators: creation of a capacity market to ensure security of supply and system flexibility

Order TED/966/2026 establishes the creation of a capacity market within the peninsular electricity system to ensure the firm and flexible power required for the integration of renewables. The mechanism will be based on capacity allocation through sealed-bid auctions using a "pay-as-bid" settlement process. The objective is to mitigate the risk of loss of load expectancy (LOLE) which, according to forecasts, will exceed reliability standards in the coming years (Art. III).

In 2 key points

  1. Capacity allocation through sealed-bid auctions with a "pay-as-bid" settlement process (Art. III). (art. III)
  2. Creation of a secondary market to increase the liquidity of successful bidders (Art. III). (art. III)

How it affects those involved

For capacity service providers, a new revenue stream is opened through the allocation of firm power in auctions (Art. III). Successful bidders will have access to a secondary market to increase the liquidity and flexibility of their positions (Art. III). The national electricity system gains robustness against the intermittency of renewables, ensuring compliance with supply reliability standards (Art. III).

Lifecycle

2026-09-17PublishedPublished in the BOE
2026-09-18Into forceComes into force (fecha_vigencia (indice oficial del BOE))
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BMC.
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