Article 3.10 of Law 24/2013 of 26 December, of the Electrical Sector, establishes, among the powers that correspond to the General Administration of the State, that of regulating the terms in which the management is to be carried out economic and technical system, by approving the market rules and the necessary instrumental and technical operating procedures.

Article 27 (3) of Royal Decree 2019/1997 of 26 December 1997, which organises and regulates the electricity production market, provides that the Market Operator and the National Markets Commission and the European Commission the Competition (before the National Energy Commission) will be able to propose to the Ministry of Industry, Energy and Tourism for their approval the rules of operation of the daily market and intra-day of production that they consider suitable for the better implementation of the provisions of the Law of the Electrical Sector, the aforementioned royal decree and other rules of development, who will decide on the Commission's report.

Under the terms of both Directive 2009 /72/EC of 13 July 2009 on common rules for the internal market in electricity and European Regulation (EC) No 714/2009 on conditions for access to the network for the internal market Cross-border trade in electricity, regional initiatives are being developed as a step towards the establishment of an internal electricity market at European level.

Spain is included, together with Portugal and France, in the South West Regional Electricity Initiative, SWE ERI, and work is being carried out focused on the integration of these markets, with the participation of the regulators, system and market operators and the subjects of the three countries. These works have been incorporated into the Spanish electrical system by the approval of different regulatory adaptations.

On the other hand, Law No 3/2013 of 4 June of the creation of the National Commission on Markets and Competition, in its article 7.1, regulates the approval by the Commission of the methodology relating to access to the markets. cross-border infrastructure, including the procedures for allocating capacity and managing congestion in accordance with the regulatory framework for access to infrastructure and the functioning of the electricity production market and the criteria to be determined, as well as methodologies relating to the provision of balancing services between systems managed by different operators of the system, which from the lowest cost point of view, in a fair and non-discriminatory manner, provide adequate incentives for network users to balance their production and consumption, agreement with the regulatory framework for the proper functioning of the electrical system.

The fourth transitional provision and the single repeal of Order IET/107/2014, of 31 January, for which electricity access tolls are revised for 2014, provide for the necessary aspects to adapt the Regulatory framework for the competences of the National Commission on Markets and Competition on the methodology for access to cross-border infrastructures, and procedures for allocating capacity and managing congestion in the Member States. international interconnections.

In this way, Circular 2/2014 of 12 March of the National Commission on Markets and Competition has been approved, establishing the methodology for access to cross-border infrastructures, including the procedures for allocating capacity and managing congestion, as well as the methodology for the provision of balancing services between systems managed by different system operators.

dated March 20, 2014, OMI-Polo Espanol, S.A. (OMIE), as an operator of the market, referred to the Ministry of Industry, Energy and Tourism proposed Rules for the Functioning of the Daily and Intradiary Markets in order to adapt them to the Commission's Circular 2/2014 of 12 March 2014. National of the Markets and Competition, and Law 24/2013, of December 26, of the Electrical Sector. In addition, a proposal for a Contract of Accession was attached to the Rules.

The aforementioned proposal was referred to the National Markets and Competition Commission for the issuance of a report pursuant to Article 5.2 and the transitional provision of Law No 3/2013 of 4 June 2013. the creation of the National Commission on Markets and Competition.

With date 8 May 2014 the report of the National Commission of the Markets and the Competition has been approved on the proposal of modification of market rules and contract of accession for its adaptation to Circular 2/2014, March 12, from the National Commission on Markets and Competition, and Law 24/2013, of December 26.

In its virtue, this Secretary of State of Energy resolves:

First.

Approve the Rules of Operation of the Daily and Intraday Electricity Production markets listed in Annex I to this resolution.

Second.

Approve the Agreement of Accession to the Rules of Operation of the Daily and Intraday Markets for the Production of Electrical Energy in Annex II to this Resolution.

Third.

This resolution shall have effect from the day following that of its publication in the "Official State Gazette".

Madrid, May 9, 2014. -Secretary of State for Energy, Alberto Nadal Belda.

ANNEX I

Rules of operation of the daily and intraday markets for the production of electrical energy

INDEX

Preamble.

Chapter 1. General rules.

Rule 1. The Production Market.

Rule 2. The Market Operator.

Rule 3. Scope of the market rules and object of the accession contract.

Rule 4. th Agents of the daily market.

4.1 Subjects that may be market players and requirements to be.

4.2 Acquisition of the market agent condition.

4.3 Agents with physical delivery capability.

Rule

.

5.1 Daily Market.

5.2 Intraday Market.

Rule 6.

6.1 Daily Market.

6.2 Intraday Market.

Rule 7. Terms of adherence to the rules of operation of the daily and intraday markets for the production of electrical energy.

Rule 8. Warranty Provision.

Rule 9. th Communications of the high and low supply units of market players.

9.1 Communication to the Ministry of Industry, Energy and Tourism and the National Commission on Markets and Competition.

9.2 Communications of the High as Market Agents.

9.3 Communication of the low representation.

Rule 10. A Market Agent Offer Unit Participation Suspension.

Rule 11. General Features of the offers.

High-end 12 Rule of sale or acquisition units in the market operator information system.

Rule 13. th Time to submit bids.

Rule 14. th Place of submission of bids.

Rule 15. Verification of offers.

15.1 Verification of session status for submission of offers.

15.2 Agent Verification.

15.3 Verification of the offering unit.

Rule 16. th Confirmation of the offers.

Rule 17. Th Firmness of offers.

Rule 18. th Confidentiality and publicity of information.

Rule 19. Release of information to agents for market operation.

19.1 Daily Market Information.

19.2 intraday market information.

19.3 Settlement information.

Rule 20. A periodic publication of public information.

20.1 aggregate supply and demand and international and intra-community trade.

20.2 Market aggregate information.

20.3 Quotas.

20.4 Publication of market information by loss of confidentiality.

Rule 21-Regular Communication on Market Results to the Competent Administrations and the Market Agents Committee.

Rule 22. Information to the public.

Rule 23 Agents Committee Rule 23.

Rule 24. Composition of the Committee.

Rule 25. Designation Of Members of the Committee of Agents of the Daily Production Market.

Rule 26. Internal Rules of Procedure and Rules of Procedure.

Rule 27. Object and basic concepts.

Rule 28. Tenders to the daily market.

28.1 Object and content of sales and acquisition offerings.

28.1.1 Simple offerings.

28.1.2 Complex offerings.

28.2 Format for the presentation of sales or acquisition offerings.

28.3 Information received from system operators: inavailabilities, commercial capabilities of international interconnections, information on the allocation of capacity rights and on bilateral contracts international contracts, national bilateral contracts and the outcome of the auctions of primary energy emission options.

28.3.1 Definition and incorporation of information about inavailabilities.

28.3.2 Definition and incorporation of information on commercial capabilities of international interconnections.

28.3.3 Definition and incorporation of information on the allocation of capacity rights and on international bilateral contracts.

28.3.4 Definition and incorporation of information on national bilateral contracts and the outcome of auctions of primary energy emission options.

28.4 Verification of offers.

28.4.1 Session status verification.

28.4.2 Agent verification.

28.4.3 Verification of warranty compliance.

28.4.4 Verification of the unit of sale or acquisition.

28.5 Validations to the communication of bilateral contract information submitted by system operators.

28.6 Acceptance of sales and acquisition offers.

28.7 Effects of the inclusion of the offer of sale and acquisition in the appeal process.

28.8 Presentation of bilateral contract offers with physical delivery.

Rule 29. th Physical Delivery of Negotiated Power to Term.

29.1 Term Hiring Unit Definition (UCP).

29.2 Delivery of positions for settlement by physical delivery of the market operator in the forward market.

29.2.1 Shipment Period.

29.2.2 Validations and response.

29.3 Information forwarding effects. Deaggregations of previously sent agents.

29.4 Receiving disaggregations from the open positions of the agents.

29.4.1 Shipment Period.

29.4.2 Content.

29.4.3 Defect breakdowns.

29.4.4 Validations in reception and response.

29.4.5 Information update.

29.4.6 Creation of offers from open positions in the market term.

29.5 Exchange of information with the market operator within the deadline.

29.5.1 Structural data information.

29.5.2 General market information.

Rule 30. First Court of Appeal of the daily market.

30.1 Basic elements of the daily market appeal procedure.

30.2 Appeal procedure.

30.2.1 Establishment of the economic precedence order of the sales offers and the determination of the sales offer curve.

30.2.2 Determination of the acquisition curve.

30.3 Treatment of offers with the complex condition of minimum income.

30.4 Treatment of offers with complex condition of gradients.

30.5 Treatment of offers with the condition of indivisibility.

30.6 Recasación del Mercado Diario Ibérico.

30.7 Reopening of bids to the daily market session.

Rule 31. th Result of the daily market appeal.

Rule 32-Calculation of the program resulting from the appeal of the daily market.

32.1 Sales Unit Disaggregations Communication.

32.2 Establishment of the order of economic precedence of the married bids in the result of the appeal.

Rule 33. th Information of the process of acceptance, verification of offers and the result of the appeal of the daily market.

Rule 34. Exceptional Situations.

Rule 35. th Daily Market Liquidation.

35.1 Determination of the remuneration for the sellers as a result of the liquidation of the daily market.

35.2 Prices to be considered in determining the price of the purchase of electricity in the daily market.

35.3 Collection rights in the daily market.

35.4 Payment obligations in the daily market.

35.5 Revenue in the daily market through the process of market separation.

35.5.1 Income of congestion in the daily market in the interconnection between Spain and Portugal.

35.5.2 Income of congestion in the daily market in the interconnection between Spain and France.

35.5.3 Income from congestion in the daily market in the interconnection between Spain and Morocco.

35.6 Publication of the results of the daily market liquidation.

Rule 36. The daily operating base program.

Rule 37. Viable Daily Program.

Rule 38. The object and basic concepts.

Rule 39. Intra-day market offerings.

39.1 Object and content of sales and acquisition offerings.

39.1.1 Simple offerings.

39.1.2 Complex Offers.

39.2 Format for the presentation of sales or acquisition offers.

39.3 Information received from system operators: inavailabilities, commercial capabilities of international interconnections, information on the allocation of capacity rights, limitations on the possibility of offer and zonal limitations.

39.3.1 Definition and incorporation of information about inavailabilities.

39.3.2 Definition and incorporation of information about limitations to the possibility of offering and zoning limitations.

39.3.3 Definition and incorporation of information on commercial capabilities of international interconnections.

39.3.4 Defining and embedding information about the allocation of capacity rights.

39.4 Verification of offers.

39.4.1 Verifications common to sales and acquisition offerings.

39.4.2 Verifications specific to sales offers.

39.4.3 Verifications specific to takeover bids.

39.5 Acceptance of Sales and Acquisition Offerings.

39.6 Effects of inclusion in the appeal of bids.

Rule 40. Intraday Market Appeal Procedure.

40.1 Basic elements of the appeal procedure on the intraday market.

40.2 Simple appeal procedure.

40.3 Appeal procedure when simple and complex sales and acquisition offers are available.

40.3.1 Search for a valid first solution.

40.3.2 Succession improvement of the first valid solution.

40.4 A process of appeal when the net reference capacity of interchange is exceeded in international interconnections.

40.4.1 Application Supposition.

40.4.2 Predetermination of data to consider.

40.4.3 Final Solution Determination Procedure.

40.4.4 Market separation procedure when there is congestion in the Spanish-Portuguese interconnection.

Rule 41. th Outcome of the Intraday Market.

41.1 Calculation of the incremental program result of the intraday market.

41.2 Communication of disaggregations of the sales and conversion units to programming units of the system operators.

41.3 Establishment of the order of economic precedence of the married bids in the result of the appeal.

Rule 42. th Information of the process of acceptance, verification of offers and the result of the appeal of the intraday market.

Rule 43-Exceptional Situations in Intraday Markets.

43.1 Unavailability of the viable daily program.

Rule 44. Intraday Market Settlement.

44.1 Determination of the remuneration for the sellers as a result of the settlement of the intraday market.

44.2 Prices to be considered in determining the price of the purchase of electrical energy in the intraday market.

44.3 Collection rights on the intraday market.

44.4 Payment obligations on the intraday market.

44.5 Revenue in the intraday market by the process of separation of markets in the interconnection between Spain and Portugal.

44.6 Publication of the results of the intra-day market settlement.

Rule 45. th End-time program after each intraday market.

Rule 46. General Characteristics of the settlement.

46.1 Elements of price determination.

46.2 Liquidation.

Rule 47. th Settlement Process.

47.1 Daily Liquidation.

47.2 Incident resolution.

Rule 48. First billing procedure for transactions in the electricity market.

48.1 Daily Production Market Agents to which they are billed.

48.2 Determination of purchase-sale transactions in the electricity market.

48.3 Invoice Expedition.

48.4 Concepts included in the invoice.

48.5 Applicable quotas and taxes.

48.5.1 Electricity tax.

48.5.2 Value Added Tax.

48.6 Agent data for billing.

48.7 Billing Period.

48.8 Electronic Billing.

48.9 Other billing information.

48.10 Rectifying invoices.

48.11 Market Operator Tax Obligations Regarding Billing.

48.12 Subject Obligations for Billing.

48.13 Request for billing information.

Rule 49. System of charges and credits.

49.1 Settlement Horizon.

49.2 Cobros and Payments.

49.3 Features of the aggregate charge and credit notes.

49.3.1 Publication of the aggregate charge and credit note.

49.3.2 New posting of the aggregate charge and credit note.

49.4 Consolidation of collections and payments.

49.5 Obligations for market players that result as buyers.

49.6 Rights for market players that result as vendors.

49.7 Account designated by the market operator for the realization of the credits and payments.

49.8 Impayment and default interest arrangements.

49.9 Cash Deposit for Payments.

49.10 Payment and Payment Calendar.

49.11 Prenda on receivables.

Rule 50. First Procedure concerning the provision of guarantees in favour of the market operator.

50.1 Guarantees Constitution.

50.2 Subjects to provide guarantees on the market.

50.3 Maintenance of warranties.

50.4 Coverage of warranties.

50.5 Types of warranties.

50.6 Formalization of warranties.

50.6.1 Guarantees formalization instruments.

50.6.2 Period of validity of warranties.

50.6.3 Communication from high, low, or modification of warranties.

50.7 Arrangements for the determination of the amount of guarantees and method of their constitution.

50.7.1 Criteria for determining the amount of guarantees to be provided.

50.7.2 Guarantees information made available to agents.

50.7.3 Balance of warranties.

50.7.4 Determination of warranties.

50.7.5 Cession of receivables.

50.8 Management of warranties.

50.9 Performance criteria against defaults.

50.10 Extended default on payment.

50.11 Extended warranty failure.

50.12 Lack of constitution or lack of updating of warranties.

Rule 51. th Description of the sequence, schedules, and information exchanges of the hiring sessions.

51.1 Sequence of daily market operations.

51.2 Intraday market operations sequence.

51.3 Hourly overrides.

51.4 Coordination between market operator and system operators.

51.4.1 Information to be supplied by system operators to the market operator.

51.4.2 Information to be supplied by the market operator to system operators.

Rule 52. The operating system on the market.

52.1 Claims to market processes, to liquidations and to billing.

52.1.1 Notifications.

52.1.2 Market Operator Claims Presentation.

52.2 Horarios and deadlines for agent requests.

Rule 53. th Entry into force, duration, and modifications of the market operating rules.

Rule 54. The applicable law and conflict resolution.

Additional rule.

PREAMBLE

I) By virtue of Article 28 of the Law of the Electrical Sector the Market Operator and the System Operator assume the necessary functions, to perform the economic management regarding the efficient development of the production market of electrical energy and the guarantee of the technical management of the electrical system. Article 29 gives the Market Operator the management of the system of offers for the purchase and sale of electricity in the daily and intraday markets.

II) The current rules provide that producers, marketers, consumers, system load managers and, representatives, to be able to participate in the daily production market must meet the requirements following:

(a) To be expressly adhered to the rules and conditions of operation and liquidation of the daily production market comprising the sessions of the daily and intraday markets, in the corresponding contract of accession, it will be unique, and it will be approved by the Ministry of Industry, Energy and Tourism, prior to the report of the National Commission of the Markets and the Competition.

(b) To provide the Market Operator with sufficient assurance to cover the economic obligations which may be derived from its performance as an agent in the daily production market, in the terms set out in the contract of accession.

III) In order to manage the system of offers for the purchase and sale of electrical energy in the daily and intraday markets referred to in paragraph I above, it is necessary to establish the present Rules of Operation of the Market. These Rules comply with the mandate of Law 24/2013, of December 26, of the Electrical Sector and of Royal Decree 2019/1997, of December 26, and are expressly adhered to by the buyers and sellers in the daily and intraday markets of production of electrical energy by means of the subscription of the relevant Accession Contract.

IV) According to Article 2 of Royal Decree 2019/1997 of 26 December, the market for the production of electrical energy is structured in a market, a daily market, an intra-day market, unorganized markets and markets. of system adjustment services, such as the resolution of restrictions for security of supply and technical restrictions of the system, the complementary services, and the management of deviations. Daily and intraday market players act as buyers and sellers in such markets. In addition, in their condition as subjects of the production market, they can intervene in the markets in the short term, in the unorganised markets and enter into bilateral contracts. Finally, they can also be offered in the solution of technical restrictions, in the market of complementary services and in the management of deviations, in the conditions that are established in the Procedures of Operation of the System.

V) Article 5 of Royal Decree 2019/1997 provides that the Market Operator performs its functions in a coordinated manner with the Spanish System Operator. Such coordination, in accordance with the Law of the Electrical Sector, may also refer to the conditions jointly established by the Market Operator and the Operator of the Spanish System for the conduct of settlement operations and payment of the energy, which shall be public, transparent and objective and which must be met by producers, marketers, direct consumers on the market and system load managers.

VI) The International Convention on the Establishment of an Iberian Electricity Market between the Kingdom of Spain and the Portuguese Republic, made in Santiago de Compostela on 1 October 2004, which regulates the market Iberic energy (MIBEL), has approved a new organizational structure under which the Operator of the Iberian Market (OMI) becomes an entity composed of two parent companies or holding companies, with participations between 10% and 10%, and each of them also has the ownership of 50% in the capital of two companies managing the market, operating the Portuguese management company, IMO-Polo Português, SGMR (OMIP), the market in time and the Spanish management company OMI, Polo Español S.A. (OMIE), the spot market.

In compliance with the provisions of the aforementioned Convention, with an effective date of July 1, 2011, the process of segregation affecting the operator of the Iberian Energy Market, Polo Espanol, S.A., (OMEL) has been completed and has Of course the block transmission of the branch of activity consisting in the operation of the electricity market, developed up to that date by OMEL, in favor of OMI, Polo Español S.A. (OMIE).

By virtue of the above, since 1 July 2011, the company IMO-Polo Espanol, S.A.U. (OMIE), has assumed the management of the system of offers for the purchase and sale of electric power in the spot market for electric power in the scope of the MIBEL.

The forward market will include transactions involving energy blocks with delivery after the day after the contract. The exchange of information necessary for the integration of positions with physical delivery of the market on a daily market shall be established by agreement between OMPI and OMIE.

The exchange of information of the Portuguese electrical system necessary for the implementation of the Market Separation mechanism, established in Order ITC/843/2007, has been established by the appropriate agreement signed between Red National Electrical (REN) and OMIE.

CHAPTER FIRST

General Rules

Rule 1. The Production Market.

The electricity production market is structured in term markets, daily market, intraday market, adjustment and balancing services, and unorganized markets.

In the daily market, the purchase and sale of electric power transactions are carried out for the next day. The daily market contracting sessions are structured in programming periods equivalent to a natural time, considering as programming horizon the 24 consecutive programming periods of the Central European Time (CET), or 23, or 25 in the days of official time change. The physical delivery of the negotiated energy in the organised markets can also occur on the daily market.

The intraday market is intended to address the supply and demand for energy that may occur in the following hours after the Viable Daily Program has been established.

The Adjustment Services Market includes all those services that, having a potestative character, the System Operators consider necessary to ensure the functioning of the system, understanding the Resolution Technical restrictions on the system, complementary services and management of deviations.

Rule 2. The Market Operator.

The Market Operator is responsible for the economic management of the system referred to the daily and intraday markets. It is up to him to receive the offers of sale and purchase of electric power, making the management of the same, as well as the liquidation of all the operations of the daily and intraday markets. It is also the responsibility of the System Operators to communicate the bilateral contracts for the relevant verifications in the field of market tenders. The specific regulation and functions, in the case of the Market Operator and Operator of the Spanish System are contained in Law 24/2013 and in Royal Decree 2019/1997.

Rule 3. Scope of the market rules and object of the accession contract.

In accordance with the provisions of Royal Decree 2019/1997 of 26 December 1997, the Rules on the Functioning of the Market contain the general procedures and conditions which are necessary for the effective development of the daily and intra-day market for the production of electrical energy and, specifically, for its economic management and the participation in the same of the subjects engaged in activities for the supply of electrical energy and direct consumers on the market, and in particular on:

a. The definition, development and operation of the IT systems necessary to ensure transparency in transactions on the daily and intraday market for the production of electrical energy, including:

-The presentation of sales and acquisition offers of electrical energy;

-The appeal procedure, on the daily and intraday market, of the offers of sale and purchase of electrical energy;

-The procedure for the physical delivery of the negotiated term energy whose holders so request and in particular the one that comes from the entities referred to in the international agreement on the Iberian market;

-The determination and communication to the System Operators with the appropriate confidentiality, of the data relating to the results of the appeal of the offers in the daily and intraday markets, and to the agents, data for its sales and acquisition units;

-The communication of the viable daily program and the final schedule of each session of the intraday market, to the agents, of the data corresponding to its sales and acquisition units as a basis for the participation in the next intraday market session;

-The determination and communication of the market players and the System Operators of the marginal electricity prices, in the daily market and in the intra-day market sessions;

-The determination and publication of average daily and intra-day market price indices;

-The settlement and communication of payments and charges to be made by virtue of the daily and intra-day market prices of electrical energy;

-The acquisition offer acceptance validation procedure with the collateral deposited;

-The publication of the aggregate supply and demand curves of the daily and intraday markets with explicit disaggregation of each of the points that configure them;

-The publication of commercial capabilities and intra-EU and international border exchanges;

-The publication of the results of the energy programmes aggregated by agent and natural month of the daily and intraday markets for the production of electrical energy, after one month after the last day of the year refer to;

-The publication of the tenders submitted by the agents, who have entered the process of appeal, in each of the daily and intraday markets, after 90 days.

b) The conditions of adherence to the Rules of Operation of the daily and intraday markets for the production of electrical energy.

(c) The procedure to be followed in the event that the agents acquiring energy from the market fail to meet their payment obligations, as well as the communications which must be made in such cases to consumers and to the various market players.

d) The procedure to be followed in high and low communications as market players by those involved in the daily and intraday markets for the production of electrical energy;

e) The determination of the agent's available guarantees for participation in market processes.

(f) Settlement and communication to the agents of payments and charges to be made for their transactions under the energy price of the daily and intraday markets.

(g) Communication to the competent authorities of the conduct against the proper functioning of the daily and intra-day markets for the production of electrical energy and of situations which may be anomalous, taking into account the information available to the Market Operator resulting therefrom.

h) The procedure for reviewing the Rules of Operation of the daily and intraday markets for the production of electrical energy.

i) Publication of the final cost of the energy and the components of the final price in aggregate and for each type of consumer.

CHAPTER SECOND

Subjects

Rule 4. th Agents of the daily market.

4.1 Subjects that may be market players and requirements to be.

The following related electrical power supply may be involved in the market:

Electrical power generators: natural or legal persons who have the function of generating electrical energy, as well as those of building, operating and maintaining production facilities.

Marketers: legal persons who, by accessing the transport or distribution networks, have as a function the sale of electrical energy to consumers or other subjects of the system.

Reference Marketers: Marketers that have the functions that the regulations establish, among others the sale to end consumers at a voluntary price to the small consumer.

Consumers: They are the natural or legal persons who buy the energy for their own consumption.

Direct consumers in the market: These consumers will purchase electricity directly from the production market for their own consumption, and must meet the conditions set out in Article 4 (b) of the Royal Treaty. Decree 2019/1997 of 26 December 1997, for which the electricity production market is organised and regulated.

Representatives: they are considered to be those who act on behalf of a market subject, either on behalf of that subject (direct representation), be it on their own behalf, (indirect representation). In this second case, the effects of the legal business carried out by the representative are directly imputed to the representative, without prejudice to the internal relationship which he or she has with his represented. For renewable energy installations (except those forming part of a hydraulic management unit), high-efficiency cogeneration and waste, the possibility of grouping offers from their represented is added so that there is a position net final of all those represented on the market.

System load managers: are those commercial companies of energy recharge services defined in Article 6.1.h) of Law 24/2013, of December 26, of the Electrical Sector, which, being consumers, are For the resale of electric energy for electric charging services for electric vehicles.

4.2 Acquisition of the market agent condition.

To acquire the status of market agent, producers, marketers, direct consumers on the market, system load managers and representatives must meet the following requirements:

• To be the holder of facilities validly registered in the Administrative Registry of Electrical Power Production Facilities, or in the case of marketers, direct consumers on the market, and load managers system, have made the appropriate communication of the start of activity as appropriate, or credit the quality of the representative of any of the previous subjects. The representatives of the subjects to accredit themselves as a market agent must prove their status through the corresponding power of attorney, as well as their own or foreign action.

• Acquired the subject condition of the electrical system.

• To have expressly adhered to the rules and conditions of operation and liquidation of the daily and intraday markets for the production of electrical energy in the corresponding contract of accession.

• Haber declared a valid agent code to the Market Operator, associated with a NIF that does not belong to any other market agent. Each market player will have a single NIF, and each NIF will be a single market player.

Once the requirements for the acquisition of the market agent condition have been met, the Market Operator will proceed in the two working days following compliance with this condition, to complete the process of High in the Market Operator Information System, which may be acted on the day after the third business day, for the markets and sessions held from 10:00 of that date.

In the process of high the agents must communicate the e-mail addresses for the communications between the Operator of the Market and the agent, differentiating as it is established in the process of high between the different Market activities. The Market Operator shall keep all the discharged e-mail addresses active unless they are discharged from the agent's mail server and the discharge is maintained for at least 3 months without notice from the agent, in whose case will be discharged on the market as contact addresses.

4.3 Agents with physical delivery capability.

The term negotiated energy, whose physical delivery is requested by the holder, may be integrated into the daily production market, in particular the one that comes from the entities referred to in the Convention. The international market for the creation of an Iberian electricity market.

Time-to-term market players with the possibility of physical delivery shall be the daily market players who are also the physical settlement agents of the market within the time limit or who have a contract with a physical settlement agent. of the market in time.

Rule

.

It is established as an instrumental selling price for the daily and intraday market the price of 0 EUR/MWh.

They are vendors in the daily market:

(a) The holders of those production units registered in the administrative register of Electrical Power production facilities;

(b) Marketers selling on electrical systems of countries other than the European Union whose participation as vendors in the daily and intraday markets for the production of electrical energy is authorised;

c) Producers, marketers, or other agents acting as a representative agent.

(d) marketers who have made an energy acquisition contract with companies authorised for the sale of electrical energy in countries of the European Union or third countries, as well as with domestic producers of electricity.

e) Direct consumers of the electricity system, without prejudice to the provisions of the first transitional provision of Royal Decree 1623/2011 of 14 November 2011 governing the effects of the the entry into operation of the link between the peninsular electrical system and the Balearic, and other provisions of the electrical sector are amended. In the context of the provisions of that transitional provision, and as long as the revision is not provided for there, the references in these Rules to the abovementioned subjects shall be construed as being made only to the traders. reference.

5.1 Daily Market.

Electric power vendors in the daily market will present to the Market Operator offers of electric power sales for each of the production or sales units that make headlines and for the periods of programming of the same daily programming horizon in the daily market.

The holders of the production units referred to in point (a) shall be obliged to submit bids for the sale of electrical energy to the Market Operator for each of these production units. holders for each and each of the programming periods of the same daily programming horizon, up to the limit of their production capacity, except in the cases provided for in Article 25 of the Law of the Electrical Sector and where they do not they have received bilateral procurement systems which, by their nature, are excluded from the offers.

Marketers referred to in point (b) may participate as vendors according to their ministerial authorization.

The representatives referred to in point (c) may submit bids for the sale of electricity for those programming periods of the same daily programming horizon as they deem appropriate; or communicate the execution of a bilateral contract.

The traders referred to in point (d) may submit bids for the sale of electricity for the energy acquired in those contracts for the programming periods of the relevant daily horizon, or sell that energy to its consumers.

Marketing and direct consumers referred to in point (e) may not submit an offer for the sale of energy until the publication of the Order of the Ministry of Industry, Energy and Tourism referred to in this Article. Article 3 of Royal Decree 1623/2011 of 14 November 2011.

The holders of units referred to in points (a) to (d) above, who are authorised to notify the use of capacity rights, or to execute firm bilateral contracts prior to the day-to-day market, may operate for the execution of contracts associated with such processes with a generic programming unit, in the Portuguese and/or Spanish electricity system as appropriate.

In each hour in which the net balance of the generic programming unit is a buyer in the bilateral and notifications of use of pre-market capacity in which the generic programming unit participates, that balance shall be the maximum that the generic selling offer unit can sell on the daily market.

The holders corresponding to (a) to (d) prior, who may sell energy with the generic offer unit of sale, must participate with offers of sale of that unit for that buyer balance, except for the volume of energy committed by that unit in bilateral contracts other than pre-market contracts.

Agents may ask the Market Operator for a presentation on their behalf of an offer with the complex condition of indivisibility, with a single block, at the instrumental price of the generic offer unit of sale for that balance. The offer will be created for each session of the daily market, at the time of receipt and publication in the system of the Market Operator the information of firm bilateral contracts prior to the daily market. If, at the time of receipt of such information from the firm bilateral contracts prior to the daily market, an offer from the General Sales Offering Unit has already been submitted by the agent for the daily market session, the offer on your behalf. Once the offer has been created on behalf of the agent, and until the closing of the receipt of offers to the daily market session, the agent will be able to manage its offer like any other, being able to cancel it or to present another valid offer of the unit of offer generic selling, which will replace the last one presented, including the one presented on your behalf.

5.2 Intraday Market.

They may submit bids for the sale of electric power in the intraday market all the agents that would have participated in the corresponding session of the daily production market.

By way of derogation from the preceding paragraph, the production units which have communicated the unavailability to the corresponding System Operator prior to the closure of the daily production market and which would have been Recovered their availability, they will be able to present offers of sale in the corresponding session of the intra-day market.

Likewise, all market players who have previously communicated to the System Operator the existence of a contract may submit bids for the sale of electrical energy on the intraday market. (a) bilateral sales or purchase of electrical energy, or the use of capacity rights, for the hours covered by the relevant intraday market session in which they participate, and such energy would have been programmed in the Basis of Operation Programme, without having previously participated in the session corresponding to the daily market.

Agents of generic sales offer units that do not have a zero program in the Operating Base Program due to an error in the management of these units will have to participate in the market sessions intra-day to decrease your program until you get a null final program.

Rule 6.

It is established as an instrumental purchase price, or a maximum price as referred to in Article 9 (1) of Royal Decree 2019/1997 of 26 December, for the daily and intraday market, the price of 180,3 EUR/MWh.

6.1 Daily Market.

(a) Market buyers, direct consumers on the market, system load managers and representatives, who are authorised to buy, are buyers in the daily market. Also buyers are the electrical power production facilities that are authorized to purchase and are registered in the corresponding register.

(b) Marketers may submit bids for the acquisition of electrical energy.

(c) Marketers who purchase in electrical systems from countries other than the European Union may participate as buyers according to their ministerial authorization.

d) The generic purchase offer unit holders.

The holders of units who are authorised to notify the use of capacity rights, or to execute firm bilateral contracts prior to the day-to-day market, may operate for the execution of the contracts associated with such processes with a generic programming unit, in the Portuguese and/or Spanish electrical system as appropriate.

In each hour in which the net balance of the generic programming unit is a seller in the bilateral and pre-market capacity notifications of the use of the generic programming unit, the generic programming unit, balance will be the maximum you can buy in the daily market the generic offer unit of purchase.

The holders who can buy energy with the generic offer unit of purchase, must participate with offers of purchase of said unit for that balance seller, excepted the volume of energy committed by that unit in Bilateral contracts other than pre-market contracts.

Agents may ask the Market Operator for a presentation on their behalf of a simple offer at an instrumental price, from the generic offer unit, for that balance. The offer will be created for each session of the daily market, at the time of receipt and publication in the system of the Market Operator the information of bilateral contracts firm prices to the daily market. If, at the time of receipt of such information from the firm bilateral contracts prior to the daily market, an offer from the generic buying-in unit has already been submitted by the agent for the daily market session, the offer on your behalf. Once the offer has been created on behalf of the agent, and until the closing of the receipt of offers to the daily market session, the agent will be able to manage its offer like any other, being able to cancel it or to present another valid offer of the unit of offer generic purchase, which will replace the last one presented, including the one presented on your behalf.

6.2 Intraday Market.

They may submit bids for the purchase of electric power in the intraday market all the agents that would have participated in the corresponding session of the daily production market.

You may also submit bids for the purchase of electrical energy on the intraday market all market players who have previously communicated to the System Operator the existence of a contract (a) bilateral sales or purchase of electrical energy, or the use of capacity rights, for the hours covered by the relevant intraday market session in which they participate, and such energy would have been programmed in the Basis of Operation Programme, without having previously participated in the session corresponding to the daily market.

The operators of the generic purchasing offer units which, due to an error in the management of these units, do not have a zero program in the Base Program, will have to participate in the market sessions intra-day to decrease your program until you get a null final program.

Rule 7. Terms of adherence to the rules of operation of the daily and intraday markets for the production of electrical energy.

1. The participation of sellers and buyers in the daily and intraday markets for the production of electrical energy requires their adherence to these Rules and the fulfilment of the other requirements set out therein.

2. Buyers and sellers who wish to act in the daily and intraday markets for the production of electrical energy must apply to IMO, Polo Español S.A. (OMIE).

3. The applicant shall provide the following documents:

-Document proving, with the necessary fehacience, of the privileges of the signatory of the application and, in the day, of the signatory of the Agreement of Accession.

-The Fiscal Identification Number of the host entity of the request.

-Aquella documentation required by the Market Operator to enable the applicant's effective action and participation in that market, among other and to mere indicative effects, persons of contact with the different Addresses of the Market Operator, data from production or sales units, acquisition and physical units, settlement and billing data, technical and communication means, indicating the characteristics of the IT system future agent to access the Market Operator Information System.

-Any other documentation required in accordance with applicable regulations, in particular regarding administrative authorizations and registrations in the records that are necessary.

The Market Operator will establish an electronic procedure for the completion of the required documentation.

For the purpose of facilitating the contribution of the aforementioned documentation by the applicant, the Market Operator will publish on its website an electronic document entitled "Market Access Guide" where the models will be included to contribute and the documentation to be presented.

4. In the case of action through the representative's figure, the representative must prove his/her status by presenting the relevant power of attorney where he/she must specify whether the representative is acting on behalf of others and on behalf of of the represented or acting for an employed person, but in his own name.

Representatives acting on behalf of others and on their own behalf shall adhere to these Rules and acquire the status of agent of the daily production market.

In the case of representatives acting on behalf of others and on behalf of the representative, it shall be the latter who shall adhere to these Rules and acquire the status of agent of the daily production market. The representative may choose to acquire such a condition or not.

In addition to the above, you will be in compliance with the applicable regulations regarding the limitations that affect the representation.

The holders of installations belonging to renewable energy sources (except those forming part of a hydraulic management unit), high-efficiency cogeneration and waste that are represented by a representative in own name shall be deemed to be attached to these Rules through the accession of that representative.

The holders of production facilities with non-renewable energy sources that are not part of a hydraulic management unit, high-efficiency cogeneration or waste, will be able to access the market by means of a common representative. In any case, these common representatives may not in any case group production units together.

A natural or legal person shall not be able to hold the status of a common representative (with ordinary powers) of a market operator where there is a conflict of interest or risk or prejudice the free competition of the market. Electrical energy production market. In particular, the following actions may not be carried out:

-A single common representative may not act on behalf of two or more dominant operators in the electrical sector.

-A single common representative may not act on behalf of two or more major operators in the power sector.

-A common representative who is a dominant operator may only represent production facilities of which he has a direct or indirect share of more than 50% of his capital.

-A common representative who is a principal operator may only represent production facilities of which he has a direct or indirect share of more than 50% of his capital. This restriction shall not apply to installations for the production of electricity from renewable energy sources that are not part of a hydraulic management unit, nor to high-efficiency cogeneration, or to waste.

The holder of an electricity production facility from renewable energy sources that are not part of a hydraulic management unit, high-efficiency cogeneration or waste, may participate in the market, directly or indirectly, by means of a representative agent. This representative is qualified because you will be able to present the offers for the set of facilities of this type that you represent, grouped into one or more units of sale.

According to the rules of general application, the regulatory or competition authorities will be given an account of those conduct which, in terms of representation, is either common or qualified as a representative agent, they may be a restrictive practice of competition, abuse of a dominant position or any other possible conduct contrary to free competition.

5. When the application for accession is submitted, the Market Operator may verify that the applicant has the necessary technical means to carry out the activities corresponding to his participation in the market and that he fulfils the conditions of submission of tenders for the sale and purchase of electrical energy referred to in these Rules. In particular, it is a necessary condition for the subscription of the Accession Contract that the applicant is connected by means of the communications network to the market operator's computer system and has the approved means to be refer to these Rules for the conduct of electronic communications requiring their participation in the daily and intraday markets for the production of electrical energy. The Market Operator may, for the purposes of this Rule, establish a system of tests to be carried out by the applicant.

Enabling in the electronic media of the Market Operator shall be vested on a personal and non-transferable basis to the determined natural person acting on behalf of the agent.

No one can be enabled simultaneously to act on behalf of more than one agent in the media.

The performance on behalf of a number of agents is exempted from the provisions of the preceding paragraph where such agents are companies that consolidate their annual accounts. For this purpose, the certification body of the competent body of the companies or the auditor of accounts in which that circumstance shall be recorded shall be submitted to the Market Operator.

The assumptions in which the provisions in force on the electricity sector provide for the intervention of an entity as a representative of other entities are also exempted from the limitation of simultaneous enablement. or by means of Agent Seller, always within the limits in which such representation is authorized.

The Market Operator will not be obliged to make public the information accessed by the person entitled to act on behalf of several agents for the mere fact of accessing that person to the information corresponding to the multiple agents on whose behalf you are acting.

6. In carrying out the actions and checks provided for in the preceding paragraphs, the applicant shall sign the Agreement of Accession to the Rules of Operation of the daily and intraday markets for the production of electrical energy, with the content of both documents, approved by the Ministry of Industry, Energy and Tourism, in accordance with the provisions of Royal Decree 2019/1997 of 26 December 1997.

7. The acquisition of the status of agent of the daily production market shall occur when the Market Operator has established compliance with each and every one of the requirements set out in Article 7.1 of Royal Decree 2019/1997. December 26.

Rule 8. Warranty Provision.

Subscribed to the Contract of Accession, the market operator must provide to the Market Operator sufficient guarantee to cover the economic obligations that may be derived from its performance as a participant in the market. market, in the terms set out in the Contract of Accession and in these Rules. The lack of sufficient guarantees to support an acquisition offer in the established terms will prevent the acceptance of that offer from the agent. The guarantee scheme shall be as set out in these Rules.

Rule 9. th Communications of the high and low supply units of market players.

9.1 Communication to the Ministry of Industry, Energy and Tourism and the National Commission on Markets and Competition.

The Market Operator will communicate to the Ministry of Industry, Energy and Tourism and to the National Commission of the Markets and the Competition the ups and downs of all the units of supply of the agents of said market within a period which may not exceed 15 working days from the entry into force of such high and low. In the same period, the Market Operator shall record such high and low levels on its public website specifically indicating these assumptions.

An entity shall be deemed to have acquired the status of a daily production market operator when compliance with each and all of the requirements set out in the Article has been established by the Market Operator. 7.1 of Royal Decree 2019/1997 of 26 December.

An agent shall be deemed to have caused a decline in the daily production market when the Market Operator has found that any of the requirements set out in Article 7.1 of the Royal Decree have not been met. 2019/1997, December 26.

9.2 Communications of the High as Market Agents.

For communications purposes, all market players are considered to be interested in the high supply of an agent on the market.

The Market Operator will publish a complete list of market players on the website. It shall also publish the complete list of the supply units of all market players with an indication of whether that supply unit is high or has caused a market downturn.

9.3 Communication of the low representation.

The Market Operator will communicate the fact that a representative agent is coming down as soon as it is known, both to the CNMC and to the relevant reference marketer, for the purpose of starting to exercise its function of representation of the production facilities concerned. If the holder of the production facilities from renewable energy sources (except those forming part of a hydraulic management unit), high-efficiency cogeneration and represented waste would not have communicated the The market operator shall communicate the low representation to all the reference traders of the relevant market operator, which must act as the representative of its facilities in the event of a lower representative of the holder. the electrical system in which the units of offer of representation of its installations are discharged.

Rule 10. A Market Agent Offer Unit Participation Suspension.

In case of communication of the suspension of programming units of a System Subject, by the operators of the system, the Operator of the Market will proceed to suspend the action of the corresponding units of the market offering on the basis of market sessions after such communication.

THIRD CHAPTER

Offers

Rule 11. General Features of the offers.

The offers of purchase or sale of electrical energy must be submitted by the agents or by their representative to the Market Operator for each unit of purchase or production or sale of which they are holders and for each programming period of the same programming horizon.

Such offers can be simple or complex because of their content.

Simple offerings must contain a price and an amount of energy, not including any complex conditions that need to be taken into account in the appeal.

Complex offerings, in addition to meeting the requirements for simple offers, incorporate one, several or all of the complex conditions that must be considered in the appeal process.

High-end 12 Rule of sale or acquisition units in the market operator information system.

The Market Operator will discharge the sales or acquisition units in the Market Operator's information system, with the data that the operator of that unit has recorded in the corresponding Register, with the details of the administrative authorisations and the data provided by the operator of the unit. The Market Operator information system data will be:

• Sales or acquisition unit code (defined by the Market Operator).

• Description of the unit of sale or acquisition.

• Type of the unit of sale or acquisition.

• The code of the electrical system on which the drive operates.

• Internal code of the Spanish electrical system.

• Maximum hourly energy for validation purposes, in MWh with a maximum of one decimal (of each of the physical units that is made up in the case of the sales units).

• Maximum rise and drop gradient, MW/h with a maximum of one decimal, for sales units.

• Percentage of owner ownership or holders in that unit.

When the sales offer unit is representative of production facilities from renewable energy sources (except those that are part of a hydraulic management unit), high-efficiency cogeneration and waste, each operator of those facilities associated with the supply unit, or its representative on its behalf, shall communicate in the process of association of the facility to the offer unit the reference marketer to act as Representative in case of suspension of the communicated representation.

Renewable energy installations (except those forming part of a hydraulic management unit), high-efficiency cogeneration and waste may have from the first day of the month following the start-up act a representative of the relevant reference marketer. Installations which do not have a start-up act, in order to have a representative other than the relevant reference marketer, must present the prior registration in the administrative register of the Electrical Power Production.

The code of the electrical system indicates in the case of Spain and Portugal, the electrical system in which the sale or acquisition of energy occurs. In the case of being external units to the Iberian system, formed by the electrical systems of Spain and Portugal, indicates the interconnection through which the transaction is carried out, being able to be of import or export, and correspond to the interconnections with the systems of France, Andorra and Morocco. Each authorised agent may define a single unit for the import or export through each of the above borders.

For interconnections between electrical systems with coordinated capacity auctions, with physical delivery, the import and export unit will be called unit with prior rights, with a single unit for the import and a single unit for export, for each authorized agent.

There are three bidding zones, corresponding to the Portuguese, Spanish and Moroccan areas. Each of these offer zones will have their own price. The supply units operating through the electricity system with Andorra belong to the Spanish offer zone.

Two generic offer units will be released, in the Portuguese and/or Spanish electricity system as appropriate, one of sale and one of purchase, associated with the same generic programming unit, for the negotiation in the market daily market power balances prior to the reporting of the use of capacity rights, and firm bilateral contracts prior to the day-to-day market.

The internal code of the Spanish electrical system identifies the units of offer of purchase or sale for the acquisition or sale of energy in the peninsular electric system or through the connection with the electrical system balance.

The units of purchase or sale of energy of the Spanish peninsular electrical system, can only have associated programming units of the Spanish peninsular electrical system, and the units of purchase or sale to The connection with the Balearic electrical system may only have associated programming units for the purchase or sale through the connection with the electric system.

Each production or sales supply unit shall correspond to a programming unit, except in the case of units of supply of representative agent of renewable energy installations (except those that are part of a) (a) the level of the total cost of the project; the amount of the total cost of the project; A programming unit cannot be associated with two offering units.

Each acquisition offer unit shall correspond to a programming unit except in the case of supply units for pumping consumption, in which it shall correspond to one or more programming units and to the units of representation of physical acquisition units when it is represented in its own name.

The offering unit of a representative with which you are offering energy from multiple represented holders, cannot include power from holders to which it represents with different rendering mode.

The maximum declared hourly energy of the units by the agent shall be limited to the maximum value of the corresponding record, or the corresponding ministerial authorization where applicable.

The maximum power of a unit of sale or acquisition is the sum of the maximum energy declared by the agent of each of the physical units that make up that unit of sale or acquisition.

The maximum power of the physical units shall be limited to the maximum gross power recorded in the administrative register of Electrical Power production facilities. For production facilities using cogeneration or other forms of electricity production from residual energy the maximum power of the physical units shall be limited to the maximum gross power recorded in the register. (a) administrative capacity of electrical energy production facilities multiplied by a coefficient of 1,2.

During the performance of the official new power certification tests, the agent may request a maximum energy value higher than that recorded in the registration at that facility for the testing. The maximum energy value shall apply to all the programming periods of the calendar days during which such tests are carried out.

The high of a scheduling unit of a subject that is a market agent will be concurrent with the agent's offering unit high. For a market agent there may not be an offering unit without a programming unit, nor a programming unit without a unit of offer.

In the case of the discharge of a scheduling unit of a subject who is not a market agent, the program of that unit shall be admitted to the third working day after receipt of the request for discharge from the unit by the Operator of the System.

If a given high-on-system offering unit is discharged by a date by the operator of that unit, or is left with a zero maximum power due to no physical unit associated with request for changes association, all tenders submitted for the daily market sessions shall be cancelled from the date on which the request for the discharge has been requested or the unit has been left with no maximum power. The default offer shall also be withdrawn by applying such withdrawal for the first day for which the unit is low or has no maximum power.

Rule 13. th Time to submit bids.

1. In the daily market, tenders must be received on the market operator's information servers prior to the closing of the offer acceptance period. The schedules of operations in the daily and intraday markets for the production of electrical energy corresponding to the daily market are described in the final rules.

2. For the intraday market, the Market Operator shall determine the initial and closing time of the submission and acceptance of tenders and shall inform the agents. Tenders must be received on the market operator's information servers prior to the closing of the offer acceptance period. The schedules of operations in the daily and intraday markets for the production of electrical energy corresponding to the intraday market are described in the final rules.

3. The time of receipt shall be that indicated by the market operator's computer system at the time of receipt.

Rule 14. th Place of submission of bids.

Bids must be presented on the Market Operator's information servers by the electronic means that it enables to the effect.

The electronic means available for receipt of offers since the entry into force of these Rules will be either one or some of the following:

-Internet access.

-Access through Integrated Services Digital Network (ISDN) Lines.

-Access through dedicated lines, for those agents who request it.

The Agent is responsible for the hiring, hiring, maintenance and continuity of the proper functioning of the media that you decide to use to access the Market Operator Information System, not being responsible for the Market Operator of any deficiency outside its own information systems. In particular, the use of the agents of automatic connection systems must be supervised by the same, not being able to be attributed to the Market Operator responsibilities that are external to it.

The compatible PC PC must be connected to the Market Operator Information System.

If the agent decides to connect over the Internet, you can use any means of communication to connect to an Internet provider (ISP).

If the agent decides to install dedicated lines, you should contact the Market Operator Information Systems Directorate for technical installation and configuration details.

If the agent decides to have direct access to the Market Operator by ISDN, the Market Operator will assign a user and password to it and indicate the ISDN numbers to call to establish the communication. This data will be communicated to the security officer designated by the agent.

The Market Operator will be able to update the media of your computer system to incorporate the technological advances that can be made.

The Market Operator will keep agents informed of the modifications that they incorporate in their computer system at any time.

Sellers or buyers will make the communication of their offers of sale or purchase of electrical energy to the Market Operator by assuming the costs and responsibility of the hiring and maintenance of the service the means of communication deemed necessary by the agent for the submission of the offers of sale or purchase.

The Market Operator will inform the sellers or buyers of the results of the verifications of their offers and the outcome of the process of their appeal by making them available on the information servers of the Market Operator information system. Such information may be accessed in the manner indicated above.

Rule 15. Verification of offers.

Without prejudice to the specific verifications for the daily and intraday markets, as set out in the regulatory rules for such materials, the sales or acquisition offers submitted by the agents shall be verified by the Market Operator, as a condition prior to its possible acceptance, in accordance with this rule.

The verification of the offers by the Market Operator does not change the agent's liability for any undue offers it may have presented.

15.1 Verification of session status for submission of offers.

The Market Operator will verify at the time of receipt of the offer in its computer system, according to the time of reception available in said computer system, that this time of reception is prior to the moment of termination of the tender acceptance period and subsequent to the opening of the session in the case of the intra-day market. In case of submission of offers per file, if this has started to be received in the System of Market Operator Information before the deadline of receipt of bids and the format of the file is correct, the process of validation of all the offers included in that file considering for the control effects of the time limit of submission of bids the time of the start of receipt of the file, inserting each offer with the result of the validation with the date and validation completion time.

15.2 Agent Verification.

The Market Operator will verify:

-That the agent is discharged into the Market Operator information system and has not been suspended as Subject by the corresponding System Operator.

-That the agent is enabled to present offers for the unit of sale or acquisition at the time of filing of the same and for the programming period for which the offer or communication of execution of the bilateral contract.

-That the agent has sufficient guarantees for the presentation of the purchase offer. In the case of a unit for the sale of shared ownership or representation of units of production of different agents on behalf and for hire, it shall be verified that each of the proprietary agents has sufficient guarantees for the submission of the purchase offer in the amount corresponding to each case.

15.3 Verification of the offering unit.

The Market Operator will check at the time of filing of the offer of sale or purchase, that the facilities that make up the unit of sale, for which the offer is presented are discharged in the system of Market Operator information.

You will also verify that the offering unit has not been suspended in application of the "Prolonged Warranty" Rule.

Rule 16. th Confirmation of the offers.

The Market Operator will inform the agents of the following ends:

-Automatic confirmation of the receipt of the power supply by the procedures set out in these Rules.

-Verification in the terms set forth in these Power Supply and Communication Rules of the verification result.

-Acceptance of the supply of electrical energy, if the result of the verification referred to in the previous paragraph is positive and include such an offer in the appeal process in case of exceeding the ex-ante verifications the conduct of the appeal process.

-Whether or not to include in the outcome of the appeal and, if applicable, the reasons for its exclusion in the terms set out in these Rules when requested.

The validation performed by the system of the market operator shall be firm, including in the case of disconnection from the system of the agent prior to receipt of the reply to such validation.

Rule 17. Th Firmness of offers.

The offers of sale or purchase of energy, valid and unsubstituted or cancelled by the sellers or buyers to the Market Operator for each of the units of sale or acquisition of which they are holders, shall be firm at the time of the end of the offer acceptance period.

CHAPTER FOURTH

Information and confidentiality

Rule 18. th Confidentiality and publicity of information.

1. The agents are obliged to keep confidential the data relating to the form of access to the computer system of the Operator of the Market, to guard the keys of computer access, and to communicate to that Operator of the Market any incident on the security of information.

2. The Market Operator and the System Operators are obliged to maintain the confidentiality of the information that the seller and the buyer has made available to them in the economic offer of sale or purchase of energy, according to with what is set in these rules.

3. The information relating to the various programmes and information associated with the sales units shall be considered confidential until the day on which the daily market is held for the 90-day programming period. after the programming periods of those programmes.

4. The information relating to the liquidation of the daily and intraday markets for the production of electrical energy of an agent shall be considered as confidential to the other operators.

5. Agents will only have access to other agent information if it is in aggregate.

6. A market operator may request the Market Operator to consult the disaggregated information of any agent in the event of a claim relating to a settlement affecting it.

Rule 19. Release of information to agents for market operation.

The Market Operator provides market players with all the information necessary for the completion of market processes through the Market Operator information system. Access to this system requires the use of access certificates provided by the operator itself. Depending on the agent to which the person accessing the system belongs and the access permissions it has, the system provides the accessible information, always respecting the confidentiality criteria.

The Market Operator will make available to market players the necessary information by means of the methods and formats set out in the current version of the document "File model for the exchange of information". between OM and AM ", as regards the files exchanged between the two, and published by the Market Operator. The published information can be classified into the following sets:

19.1 Daily Market Information.

• Bid file.

• Demand forecasts.

• Exchange capabilities in interconnections. Maximum capacities and capacities available for market coupling.

• Capabilities assigned in pipelines with capacity allocation.

• Inavailabilities of the drives.

• Guarantees available.

• Daily Market results query files.

-PDBC marginal pricing.

-Basis program.

-Operating base program.

19.2 Intradiary Market Information.

• A viable daily program.

• Bid file.

• Demand forecasts.

• Maximum exchange capabilities on interconnections.

• Capabilities assigned in pipelines with capacity allocation Inavailabilities of the drives.

• Limitations to the offering units.

• Guarantees available.

• Daily Market results query files.

-PIBCI marginal prices.

-The increme.ntal and cumulative appeal base program.

-End Time Program.

-Hours cancelled by the Market Operator or System Operators.

19.3 Settlement information.

• Settlement files: common data.

• Log file.

-Corresponding Market.

-Production unit, acquisition.

-Quantity.

-Unit price.

-Payment law or corresponding payment obligation.

-Total collection rights or payment obligations accumulated by market.

• Daily settlement file.

• Total final payments and collections.

• A procurement file on the market for reference marketers.

• Payment guarantees.

• Formalized guarantees.

• Balance of guarantees for upcoming sessions.

• Settlement status.

• Settlement and billing calendar.

• Invoices and credit or charge notes.

• Billing and tax information.

• End cost of energy and final price components in aggregate and for each type of consumer.

Rule 20. A periodic publication of public information.

The Market Operator provides the general public with non-confidential information through the public web. The set of files and information provided by the Operator is described in the document "Public Information provided by the Market Operator" available on the web server itself.

To publish public information, the Market Operator will apply the following confidentiality criteria:

20.1 Aggregate Supply and Demand and International Trade and Intra-Community Curves.

After the appeal of each session of the markets, the Market Operator will publish for the Iberian market:

• Time prices and total negotiated hourly market time.

• Added courses of offers and claims made, offers that participate in the formation of prices and offers included in the program resulting from the appeal, with indication of the prices and quantities of each section of energy offered. Once the offers made to the market are public in application of these Rules (at 90 days), the indication of the units associated with each section will be added to the curves.

• Occupation of each of the international interconnections per hour (including the married in the daily market plus the maximum allocation of the executed in international bilateral contracts) with indication of:

-Maximum import and export business capacity for each pipeline.

-Busy capacity in each sense and pipeline.

-Free capacity in each sense and pipeline.

20.2 information on Market aggregates.

The Market Operator must set the measures, parameters, and variables of an aggregate character that must be published. In any case, it should be published not before three days after the closing of the market sessions, the production by technology and the demand for categories of agents.

20.3 Quotas.

Following the conclusion of the daily market session held on the first day of each month (m), the Market Operator will publish the procurement quotas in energy in the different markets and processes of all the agents, corresponding to the month (m-2).

20.4 Publication of market information by loss of confidentiality.

After the conclusion of the session of the daily market the Operator of the Market will make public all the information corresponding to the session held 90 days before, derived from the presentation of the offers and the (i) an appeal and, in particular, the full content of the tenders submitted by the agents at all market sessions.

Rule 21. First periodic communication on the results of the Market to the Competent Administrations and the Committee of Market Agents.

Without prejudice to other relevant market information which, in accordance with the provisions in force, must be transmitted to the Ministry of Industry, Energy and Tourism to other competent authorities, the Market Operator cooperate with the relevant regulatory bodies, with the Committee of Market Agents and, where appropriate, with the European Commission in the transparency of the market and its results.

For the above purpose the Market Operator may develop monitoring reports based on parameters that facilitate the best monitoring, observation and verification of the electricity market data. In relation to this report the Market Operator will apply the appropriate confidentiality criteria.

Rule 22. Information to the public.

All information that the Market Operator provides to an agent on another or other agents in compliance with these Rules, and which is not motivated by the existence of a claim, shall be provided to the public in general, except the information provided to a number of agents in compliance with legal provisions that so require.

To provide information to the general public, the Market Operator will make use of its public WEB.

CHAPTER QUINTO

Production Daily Market Agents Committee

Rule 23 Agents Committee Rule 23.

The Committee of Agents of the Daily Production Market is set up as an organ which aims to monitor the functioning of the day-to-day and intraday production of production and the proposal for measures that may redundar in a better functioning of these markets

The specific functions of the Daily Production Market Agents Committee are as follows:

(a) Track the functioning of the daily and intraday production market and the development of the appeals and settlement processes.

b) To know, through the Market Operator, the incidents that have taken place in the functioning of the daily and intraday market.

(c) Propose to the Market Operator the operating rules that may result in a better functioning of the daily and intraday production markets.

d) Advise the Market Operator in the resolution of incidents that occur in the hiring sessions.

e) Get regular information from the Market Operator on those aspects that will enable the level of competition in the daily and intraday electricity production market to be analyzed.

f) Any other function assigned to it by the implementing rules for the best functioning of the market.

Rule 24. Composition of the Committee.

The Committee of Agents of the Daily Production Market shall consist of a maximum of 25 members with the following composition by group:

• Six representatives of producers of non-renewable energy sources (except those that are part of a hydraulic management unit), high-efficiency cogeneration and waste.

• Four representatives of producers of renewable energy installations (except those that are part of a hydraulic management unit), high-efficiency cogeneration and waste.

• A representative of the agents acting as representatives.

• A representative of non-resident marketers.

• Two representatives of the reference marketers.

• Four representatives of marketers.

• Three consumer representatives.

• Two representatives of the IMO-Polo Espanol, S.A. (OMIE) ".

• A representative of each of the System Operators, Spanish and Portuguese, without the right to vote and without entering the presidency.

Rule 25. th Designation of the members of the Committee of Agents of the Daily Production Market.

The members of the Committee of Groups 1 to 7 of the previous rule will be representatives of the various most significant associations of each of the activities, taking into account the volume of energy they have negotiated in the market the production journal, none of which shall be able to hold all posts corresponding to the same group, except where a single member exists.

In order for an association to be able to request representation in the Committee, it must operate directly or indirectly in the daily production market and have at least three members, none of which may already be present. represented by another association with presence in the CAM.

Associations that do not have representation in the CAM will have priority over those that are already represented, in the process of designation.

The associations that wish to have representation in the CAM will request it in writing to the Market Operator indicating the name of the association and information on the companies that compose it, volume of energy for them traded on the market over the last year, directly or indirectly, and the group in which it applies to have representation.

The Market Operator will study the application and, verified that everything is compliant and that there is a vacancy in the group requested by the association, will proceed to give the same to the CAM.

In the event of conflict situations arising from the confluence of associations for the same member position of the CAM, the Market Operator will take the decision according to the criteria of representation and proportionality and report on the criterion on which it is based on the National Markets and Competition Commission.

Rule 26. Internal Rules of Procedure and Rules of Procedure.

The Committee of Agents of the Daily Production Market shall adopt its internal rules of operation, in which the periodicity of the sessions, the convocation procedure, the rules of code of conduct shall be established, the procedure for the adoption of agreements and the periodicity for the renewal of its members.

The membership of the Market Agents Committee will not be remunerated.

The President and the Secretary of this body shall be elected by the Committee of Agents of the Daily Market of Production among its members.

Within the maximum period of one year, from the publication of this Rule, confirmation or appointment shall be made by the present associations present in the CAM of their representatives in the same.

CHAPTER SIXTH

Daily Market

Rule 27. Object and basic concepts.

The daily market as an integral part of the electricity production market, is intended to carry out electricity transactions for the next day by submitting sales offers and the acquisition of electrical energy by market players.

These offers will be presented to the Market Operator, and will be included in an appeal procedure having effects for the daily horizon, corresponding to the day following the session.

The daily market will be structured in one session for each daily horizon. The programming periods will be schedules, and the daily horizon consists of 24 consecutive programming periods of the Central European Time (CET), or 23, or 25, in the days of official time change.

Rule 28. Tenders to the Daily Market.

28.1 Object and content of sales and acquisition offerings.

Sales offerings can be simple or complex, because of their content. Takeover bids can only be simple without incorporating complex conditions.

Only an offer of sale or acquisition may be submitted for the same daily horizon and a single unit of sale or acquisition, except as indicated in the physical delivery rule of the negotiated term energy.

28.1.1 Simple Offers: For the purposes of the Rules, simple offers are the offers of sale or purchase of energy that the sellers or buyers present for each programming period, and unit of sale or acquisition, of which they are responsible with an expression of a price and an amount of energy, being able to exist for each programming period within the same daily horizon up to a maximum of 25 tranches, with a different price for each of the such tranches, being this growing for offers of sale, or degressive for offers of acquisition. The simple offers do not include any additional conditions to be taken into account in the appeal process.

For sales units corresponding to production units for which more than one owner exists for settlement purposes, together with the offer of sale of the agent representing it, the amount of energy will be received associated with each of the owners who will be engaged in bilateral contracts, for consideration in the liquidation of the energy of the program resulting from the daily market.

28.1.2 Complex Offers: For the purposes of the Rules are complex offers those offers of energy sales that, meeting the requirements required for simple offers, incorporate all, some or some of the conditions listed below. These conditions shall be incorporated by the Market Operator in the appeal in the terms set out in the rule in which the algorithm is described. They are conditions that can incorporate complex offerings, the following:

28.1.2.1 Condition of indivisibility: The condition of indivisibility states that if an indivisible stretch of the offer is married, it is, for all the energy offered and not for a fraction of it, except in the in the application of the distribution rules.

Sellers can only incorporate into the energy sales offer for each unit of sale the indivisibility condition for the first tranche of offer of the 25 possible production capacity tranches in each of the programming.

Sellers can only incorporate the indivisibility condition into those offers that do not declare any other complex conditions.

28.1.2.2 Minimum income condition: Sellers may include as a condition in the offers of sale of energy that they present for each unit of sale that such offer is only understood to be presented for the purposes of the appeal if obtains a minimum income for the set of programming periods, except as set out in the treatment rule for the complex condition of minimum income. The minimum income required shall be expressed as a fixed amount, declared in euro, without decimals and, as a variable amount declared in euro per MWh, two decimal places may be included.

The minimum income condition cannot be such that the requested income exceeds by more than 100% the income resulting from the full acceptance of the offer at the price offered.

28.1.2.3 Scheduled stop condition: It is the condition that the sellers may include in the offer of sale of energy that they present for each unit of sale, in the event that these offers are not married by application of the condition of minimum income, so that they can be considered as simple tenders in the first tranche, from the first programming period to at most the third programming period of the daily horizon. The energy offered incorporating the scheduled stop condition shall be degressive during the programming periods for which the condition is declared.

28.1.2.4 Production capacity variation condition or load gradient: The production capacity variation condition consists in establishing for each unit of sale a maximum difference of energy variation to the increase or downward the same, between two consecutive programming periods. This condition shall be expressed in MW/h, with one decimal place, and the result of its application shall be, in any case, limited by the maximum available time capacity of production of that unit of sale.

28.2 Format for the presentation of sales or acquisition offerings.

Sellers and buyers will have to include, in the offers of sale and purchase of energy that they present to the Market Operator for each unit of sale or acquisition, the following information:

a) Sales or acquisition unit code.

b) Description of the offer. Alphanumeric field that does not use the algorithm.

c) The offering class, which must necessarily be an offer of sale or acquisition.

d) Date of the daily horizon. It is the one for which the offer is presented. It will be blank if it is a default offer.

e) Default bid. Valid data that can be included in the offering is:

YES, indicates that the offer is by default and the agent keeps it in place for all the daily horizons, from the moment of receipt of the same by the Market Operator. In this case the date of the daily horizon is not used.

NO, indicates that the offer is not by default and is only valid for the date of the indicated daily horizon.

f) Minimum income condition for units of sale, which shall be expressed by means of the following two values:

-Fixed term (TF) for the same daily horizon, fixed in euros, without any decimal inclusion.

-Variable term (TV), which will remain unchanged for the same daily horizon, fixed in euros per MWh, with two decimal places being included.

In the case of being equal to zero indicates that the offer does not incorporate this condition. In the case of takeover bids both values must be zero.

g) A gradient condition, for sales units, that will express the maximum load variation gradient of the unit of sale to be raised and lowered in MW/h with a maximum of one decimal figure. In the case of being equal to "zero" means that the offer does not incorporate this condition. In the case of takeover bids both values must be zero.

h) For each of the up to twenty-five (25) tranches in which an offer of sale or acquisition may be divided, and each of the programming periods, the following data shall be given:

h.1) The programming period to which the offer corresponds.

h.2) Energy volume offered in the tranche by the unit of sale or acquisition, for each programming period expressed in MWh with a maximum of one decimal place.

h.3) Price to which the tranche expressed in euro per MWh is offered, with a maximum of two decimal places.

h.4) Indication, in the case of sales offers, in the first tranche of each programming period of whether the energy span is divisible or not.

h.5) Indication, in the case of sales offers, in the first three periods of the programming period, whether or not the offer to sell the first tranche of energy corresponds to a scheduled stop condition, for the three first periods of the daily horizon.

In addition, the agent may communicate the energy associated with each of the owners who will be engaged in bilateral contracts in the case of offers of sale, of units of sale that have more than one owner, for consideration in the liquidation of the daily market. Such information shall be sent by the person responsible for the submission of tenders for each shared central, as well as the relevant bilateral contract codes. The Market Operator at the receipt of such information shall perform the following validations:

• The information communication code exists.

• The offering unit exists.

• The agent that sends the information is the agent responsible for its shipment.

In case of not exceeding previous validations all the information sent relative to the offer unit with the corresponding warning message will be rejected.

28.3 Information received from System Operators: Inavailabilities, commercial capabilities of international interconnections, information on the allocation of capacity rights and on Contracts International Bilateral, National Bilateral Contracts and the outcome of the primary energy emission options auctions.

28.3.1 Definition and incorporation of information about inavailabilities: Information about inavailabilities sent by the System Operators to the Market Operator information system will be made through This shall always contain for each system all the inavailabilities that the Operator of the corresponding System has confirmed of any of the physical units of production units and units of purchase of pumping consumption, in the time of shipment. The inavailabilities shall be sent per physical unit. Accordingly, the Market Operator will consider that all production units not included in the latest information received from the corresponding System Operator are available.

Information about inavailabilities will be incorporated into the Market Operator's information system at the time of receipt in the Market Operator's information system, with the time limit of entry to effects of their consideration in the appeal process the closing time of the daily market session.

28.3.2 Definition and incorporation of information on commercial capabilities of international interconnections: The Spanish and Portuguese System Operators will refer to the Market Operator the maximum capacity of import and export in each of the international interconnections of their respective electrical systems with a weekly horizon and schedule breakdown.

The Spanish and Portuguese System Operators will send to the Market Operator the available import and export capacities in each of the international interconnections of their respective electrical systems for the the daily market appeal with a breakdown of time. The Market Operator shall consider that all interconnections and sense of flow not included in the last information received from the System Operators shall have zero value.

Capacity information available for the daily market appeal process will be incorporated into the Market Operator's information system at the time of receipt in the information system of the Market Operator. Market, being the time limit of incorporation for the purposes of its consideration in the process of appeal in the daily market, the time limit set in the rule of sequence of transactions in the daily market.

Before the time limit set for the submission of the capacity information to the common appeal system, the market operator shall analyse the information received from the available capacity for the appeal of the daily market for the interconnection between Spain and Portugal as information has been received for such interconnection of both operators of the Iberian system.

The market operator for interconnection between the Spanish and Portuguese system will proceed as follows:

If you have received the import and export capabilities of both system operators and they match, you will forward the received capacity values to the system before the time limit set.

If you have not received the values of both system operators for the interconnection between Spain and Portugal, or are not matched, you will proceed according to the following cases:

Case 1: In case of not having received the available capacities for the daily market of any of the system operators before the time set in the rules of sequence of operations of the daily market, the operator the market will request the sending of the capacities to both operators of the system within 30 minutes from the quoted time limit for capacity shipping:

• If after 30 minutes the capacities of none of the System Operators have not been received, the Market Operator will forward to the system of appeal a capacity value available for the appeal of the No daily market for imports and exports at the border between Spain and Portugal for all hours of the daily market.

• If after 30 minutes only a System Operator has received capabilities, the Market Operator will confirm before 20 additional minutes with the System Operator that it has not (a) the values received by the method agreed between the two. If the capacity values are confirmed, the Market Operator shall transmit to the system of appeal the capacities received. If the values are not confirmed, it will require the System Operator that sent the capabilities to send the capacity values again. After 20 additional minutes the Market Operator will send the latest capacity values to the system of appeal.

• If after 30 minutes the capabilities of both System Operators have been received, it will proceed as indicated in case 3.

Case 2: In case of not having received the available capacities for the daily market of one of the System Operators before the time set in the rules of sequence of operations of the daily market, the Operator of the Market shall check whether they have been received on the date on which the security check is made for the periods of programming of the daily market for maximum import and export capacities referred to in the first paragraph of this Article. rule, referred by the System Operator that has not submitted the available market capabilities journal. If the above capabilities have been submitted and match the values submitted by the System Operator that if it has sent the available capacity values for the daily market, the Market Operator will send the available capacity values for the daily market received. If no capacity has been received for the scheduling periods of the daily market on the date on which the check is made or these do not match the capacity values for the daily market, the Market Operator will request the Operator of the System that has not sent the available capabilities for the daily market to be sent by following the process described in case 1.

Case 3: In case the available capacities have been received for the daily market of both system operators before the time set in the daily market transaction sequence rules, or before the end of the The additional 20 minutes as set out in case 2, but not being matched, the Market Operator will request the sending of the capabilities to both System Operators within 30 minutes of the requested time limit of capacities, or 20 minutes if the situation described in case 2 has been given. If the new capabilities The received values will be referred to. If the additional time does not coincide, the Market Operator will transmit the capacity values sent by the Operator of the Portuguese System.

The values referred to the capacities in the interconnections with the French system and with the Moroccan system will be the values of the last valid file of available capacities for the daily market sent by the operator of the Spanish system.

The Market Operator will consider in the process of market coupling between Spain and France a value of the maximum available export capacity, and in its case of import, equal to zero if the market operator of the French electricity system, or entity enabled by it in the settlement process, does not meet any of the economic obligations that the Market Operator requires in connection with the liquidation of the energy exchanged between the system Spanish and French electricity resulting from this process.

28.3.3 Definition and incorporation of information on the allocation of capacity rights and on International Bilateral Contracts: The Spanish System Operator will make available to the Market Operator the notifications of use of capacity rights for each unit of sale or acquisition corresponding to the pre-auction confirmed allocations, as well as the allowances of the daily auction in the interconnection with the electricity system France, for the purposes of its consideration in the validation of tenders submitted to the the daily market, after receipt of such an assignment, and for consideration in the validation prior to and within the appeal process.

The daily auction of capacity rights with the French electricity system may be carried out by the operators of the Spanish and French system, as a back-up system where there can be no link between the Iberian market and the French market. The incorporation of the result of such an auction of capacity per day will be carried out by a transaction between the unit of capacity rights and the generic unit in the area of Spanish offer, equal to the rights of capacity prior to the daily auction. During the transitional period in which the appeal is made with the Euphemia algorithm, but considering an implicit implicit coupling capacity with the French system, the result of the daily auction of capacity in that interconnection will be declared in the same way as long-term rights by market players acquiring those rights, before the time limit set in the sequence of transactions rule in the daily market. In the event of a daily capacity auction as a fallback system for the decoupling of the Iberian market from the rest of the market, the capacity rights shall be declared in the same way, in the time agreed between the market operator and the operator of the Spanish system.

System Operators shall make available to the Market Operator the notifications of the use of capacity rights for each unit of sale or purchase corresponding to the pre-market confirmed allocations daily in the interconnection with the Portuguese electricity system, for the purposes of its consideration in the validation of the tenders submitted to the daily market, after receipt of that allocation, and for consideration in the validation prior to and within the appeal process.

The international bilateral contracts of the Spanish-Portuguese border will be sent to the market operator by the system operators once agreed between the two operators. The international bilateral contracts of the borders of the Iberian system will be sent by the Operator of the Spanish System to the Market Operator.

The system operators, once agreed between them for the Spanish-Portuguese border, will make available to the Market Operator, before the end of the period of receipt of offers from the daily market, the information of international bilateral contracts received from agents, for the purposes of their consideration in the validation of tenders submitted to the daily market, after receipt of such communication, and for their consideration in the validation prior to and within the appeal process.

System Operators shall make available to the Market Operator the capacity-duty allocations for each agent that has not made the notification of the use of capacity rights in the interconnection with the Portuguese electrical system.

28.3.4 Definition and incorporation of the information on the National Bilateral Contracts and the outcome of the primary energy emission options auctions: The Market Operator will receive from the System Operators prior to the closure of the period of receipt of offers on the daily market, the information of the national bilateral contracts received from the agents for the purposes of their consideration in the validation of the tenders submitted to the daily market.

The Market Operator will receive from the corresponding System Operator, as soon as available, information on energy nominations from primary energy emission auctions.

28.4 verification of offers.

The sales or acquisition offers submitted by the agents will be verified by the Market Operator, as a condition prior to their possible acceptance. The verification shall be carried out at the time of receipt of the tenders and at the time of the closing of the period of receipt of tenders to the daily market session, as set out in this Rule. The validations of the offers will be performed according to the following:

28.4.1 Session status verification: The Market Operator will verify at the time of receipt of the offer in its computer system, according to the time of reception available in that computer system, that this time The receipt is prior to the end time of the offer acceptance period. In case of submission of offers per file, if this has started to be received in the System of Market Operator Information before the deadline of receipt of bids and the format of the file is correct, the process of validation of all the offers included in that file considering for the control effects of the time limit of submission of bids the time of the start of receipt of the file, inserting each offer with the result of the validation with the date and validation completion time.

28.4.2 Agent Verification: Market Operator will verify:

-That the agent is discharged into the Market Operator information system on the date the offer is submitted and is not suspended by System Operators as the System Subject.

-That the agent is enabled to present offers, sales for the unit of sale, or purchase for the unit of acquisition, at the time of presentation of the same, for the programming periods for which the offer. All offers from the agent that offers offers for drives for which it is not enabled on the appropriate date will be rejected.

28.4.3 Verification of Guarantees Compliance: The Market Operator will verify at the time of the insertion of the offer, if this is for the next session of the daily market, that the agents to be validated by the (a) the right to provide guarantees for such an offer in the subsequent appeal process, shall have sufficient guarantees to satisfy the estimated maximum payment of the energy corresponding to the tender submitted on the day on which the payment obligation is required, according to the best information available at the time of the offer insertion.

The estimate of the maximum payment of the offer that it presents will be the valuation of the same and will be established by the Market Operator multiplying each tranche of energy times by the value of its offer price in that hour plus the applicable taxes and quotas.

The offer will be accepted on a provisional basis, even if no guarantees are available, but the agent responsible for the offer will be informed of the outcome of this verification.

28.4.4 verification of the unit of sale or acquisition: The Market Operator will check at the time of the submission of the offer that there are physical units that make up the unit of sale or acquisition, presents that offer, which are released in the Market Operator's information system for the date for which the offer is submitted.

28.4.4.1 Verifications of the maximum energy to be offered in a programming period: For an offer of sale or acquisition presented to a session, which is not by default, it will be validated that the energy offered in total for each programming period, plus the energy declared for that unit in the set of pre-market bilateral contract executions, including notifications of use of capacity rights, which have been reported by the Operators of the System, for that session, does not exceed any of the following values:

• The maximum power of the unit in the Market Operator database.

• For sales units that have declared unavailability, the maximum available energy considering in the event that the offer submitted is for the next session of the daily market the inavailabilities in force, The maximum energy available is the maximum available energy once the unavailable energy of its physical units is discounted. In the case of being the normal offer for a session after the next session of the daily market, the offer unit shall be deemed to be available for the purposes of validation in the process of verification of tenders at the time of submission of the offer. In the verification of the process of preparation of offers to the daily market, the validity of the offer shall be verified again, considering the maximum available power taking into account the inavailabilities in force at the time of the closure of the market. the session as detailed in the section for the verification of tenders before the appeal.

In case of exceeding the energy offered the maximum value in any of the programming periods, the offer will be rejected in full.

If the submitted bids are by default, the energy offered in each programming period against the maximum energy in the Market Operator's declared database for that unit will be validated, being provisionally accepted. the offer, at the expense of the overall validation of offers and the execution of bilateral contracts prior to the daily market before making an appeal, in which case, in case of exceeding the limits laid down in the overall validation, the complete offer. Since the default offers apply from the moment of your submission without the condition of communication of an offer date, it will be validated that the date of sending the default offer is later than 00:00 hours of the day for which the unit of the corresponding offer has been released.

28.4.4.2 Verification of offer content:

(a) Verification for sales offers that the instalments corresponding to the scheduled stop correspond to the first tranche of the first programming period and not more than the third programming period and that these are decreasing in terms of energy offered in the periods for which the scheduled stop condition is declared.

b) Verification for sales offers that the prices of the different energy tranches of the same unit of sale have increasing prices for the energy offered.

c) Verification for takeover bids that the prices of the different energy tranches of the same acquisition unit have decreasing prices with respect to the energy offered.

d) Verification that the minimum income that the seller incorporates as a condition in the offer of sale of energy for the unit of sale, is not greater than 100% to the income that would be the offer of complete simple sale of the unit of sale.

e) Verification that the offer by the unit of sale incorporates a single indivisible stretch for each programming period.

f) Verification that an offer that declares the status of indivisibility in some stretch, does not declare any other complex condition.

g) Verification that the rate of increase and decrease declared in the offer is equal to or less than the corresponding recorded in the Market Operator information system. If there is no maximum value in the information system, the gradient will be understood as not having a maximum limit value.

28.4.4.3 Verification of offers in respect of offers from the Market to the Term: The offers of the agents for their participation in the daily production market that do not come from open market positions time limit, in its insertion, will not be validated against offers from the market in time. The set of tenders shall be validated before the appeal process.

28.5 Validations to the communication of bilateral contract information submitted by system operators.

In the process of receiving communications from bilateral contracts, made available to the Market Operator by System Operators, the following validation process will be performed:

Validations for the communications of bilateral contracts presented to the Mercado Diario: The validation in the insertion of the communication of a bilateral contract, will be done for the energy of each unit declared in the contract, in each programming period. It will be validated in each programming period that the power executed for each unit, does not exceed any of the following values:

-The maximum power of the drive in the Market Operator database.

-The maximum available energy considering the inavailabilities in force.

In the event that any of these values are exceeded, in any of the programming periods, the acceptance of the file will require the compliance of the corresponding System Operator.

The sales programming units in a bilateral contract will be generic units or programming units associated with sales offer units. The purchase programming units in a bilateral contract will be generic units or programming units associated with acquisition offer units.

In the event that the execution of a bilateral contract cannot be incorporated into the Market Operator's system for failure to comply with these rules, such bilateral contract execution will not be incorporated into the system. incorporated the remaining execution of bilateral contracts received in the same communication.

Validation in the insertion of the communication of a bilateral contract, will be done for the units involved in the bilateral contract declaration:

-All sales programming units of a bilateral contract will be located in the same electrical system and each will have a vendor program.

-All purchase programming units for a bilateral contract will be located in the same electrical system and each will have a buyer program.

-The bilateral contracts submitted by the system operators will be of programming units of their respective electrical systems. The operator of the Portuguese electricity system shall transmit bilateral contracts for units in the Portuguese area and the Spanish electricity system operator shall forward bilateral contracts for units in the area of Spain, France, Andorra and Morocco.

28.6 Acceptance of sales and acquisition offers.

The last offer of sale or valid acquisition of energy presented by the agents to the Market Operator for each of the units of sale or acquisition of which they are holders, will become firm at the moment of completion of the offer acceptance period.

28.7 Effects of the inclusion of the offer of sale and acquisition in the appeal process.

That the seller or buyer accepts the results of the appeal on the terms that are derived from the Rules.

28.8 Presentation of bilateral contract offers with physical delivery.

In order to comply with Article 9 (3) of Royal Decree 2019/1997 of 26 December, sellers who have entered into bilateral contracts with physical energy delivery must submit purchase offers to the market. at its opportunity price with a seller's acquisition unit, for an amount of time equal to or greater than the energy declared in the bilateral contracts with physical delivery.

Seller agents who have entered into bilateral contracts with physical energy delivery declared with electric system programming units external to the Iberian system (programming units in the area of France, Andorra or Morocco) and acquisition programming units shall declare such bilateral contracts with their sales programming units in such electrical systems, which may not be generic units.

Rule 29. th Physical Delivery of Negotiated Power to Term.

The term negotiated energy, whose physical delivery is requested by the holder, may be integrated into the daily production market, in particular the one that comes from the entities referred to in the Convention. The international market for the creation of an Iberian electricity market.

29.1 Term Hiring Unit Definition (UCP).

The term contracting units (UCP) are settlement units on the market within a period to enable the physical delivery to be settled.

The term procurement units will have the following characteristics:

(a) Each UCP shall belong solely to a physical settlement agent on the market for the term of the contract and to a daily market operator.

b) The agents of the Daily Market shall communicate to the Operator of the Daily Market the composition of each UCP, detailing the offering units that compose it and by the means established for this purpose.

(c) A UCP may contain any of the units of sale and/or units of acquisition of the daily market except the generic units.

d) Each unit of sale or acquisition of the daily market may only be included in a UCP.

e) The energies received as open positions corresponding to a UCP will not be able to constitute an "unnatural" position. In this case it will be rejected by the Daily Market Operator.

An "unnatural" position shall be deemed to exist when the energy of the open position of a UCP exceeds the sum of the maximum of the sales units or the sum of the maximum of the acquisition units that it groups, with its corresponding sign.

(f) The sales and/or acquisition units of each UCP may only be bid units that will be settled on the daily market at the price of energy in Spain, or alternatively, at the price in Portugal, not allowed in the same UCP both types of drives.

29.2 Delivery of positions for settlement by physical delivery of the Market Operator in a timely way.

29.2.1 Shipment Period: The Term Market Operator and the Daily Market Operator shall establish at least 6 months in advance the time-to-term settlement calendar, in which the day of dispatch of the the information of each underlying. The above is without prejudice to the fact that such a timetable can be altered, as a result of changes in the situation of the markets or the type of products traded on the Market Operator in the Term.

Open positions will be sent by OMIP-OMIClear before the time set in the Daily Market Operator's information system that will never be less than two days from the delivery of the underlying. Within one day the deadline for sending the open positions will be 17:30 hours.

The hours indicated correspond to the European Central Time (CET).

29.2.2 Validations and Response: The Daily Market Operator will validate the open-ended positions, Agent/UCP, according to the following points:

(a) The Term Market Operator shall only send positions for physical delivery corresponding to the term contracts recorded in that operator.

b) The Agent and the UCP will then be verified to correspond to existing and existing Agents and UCPs at the time of communication and the physical delivery period, and that the UCP corresponds to the agent.

c) Finally, it will be verified that the corresponding physical delivery quantities are within the limits of the UCP. If this is not the case, the position reported is unnatural, and shall be rejected.

29.3 Information forwarding effects. Deaggregations of previously sent agents.

The Term Market Operator may make new shipments of information by altering the information of open positions already sent in the case where it detects that a violation of the market rules has occurred in a timely way. The referral of the alteration of a position previously sent by the Market Operator to the Deadline may only be made until the end of the period of receipt of offers from the daily market. In this case, the disaggregations corresponding to the altered positions that the Agents have made up to that time will be cancelled.

29.4 Receiving disaggregations from the open positions of the agents.

Agents will disaggregate the energies of each UCP in the sales or acquisition units associated with it, while respecting the limitations set forth in these Market Rules.

29.4.1 Shipment Period. The agents may send the disaggregations of the energies of the PUCs since the closing of the period of dispatch of the corresponding positions opened by the Operator of the Market to Deadline until the closing of the period of receipt of offers of the market journal.

The agent will have the default unbundling option for those UCPs that contain only one offering unit. For those agents that use this option, the disaggregations will be automatically calculated according to the rule set, not requiring their submission.

29.4.2 Content: The agents will send the information of the disaggregations to the time values, and can carry out the disaggregations of all their contracting units in the same time.

In addition, the agents will be able to carry out the disaggregations of the energy of the contracting units for different days in the future, for those days that the Market Operator will have the information of the open positions communicated by the Market Operator to the Deadline.

29.4.3 Defect breakdowns: Defect breakdowns are those that will be automatically calculated according to the following points:

a) They may only be used by UCP that contain only a single offering unit.

b) In the case where you later want to include a new bid unit in that same UCP, you must first remove the default unbundling option. Otherwise, the new relationship UCP/Unit offering will not be discharged.

(c) The agent through the market operator information system may choose the option to apply the default unbundling or not and its effective date.

d) The agent must communicate a maximum limit in MWh for which it accepts that the default unbundling is performed. In case the open position value sent by OMIP/OMIClear is greater than that limit, it will be unadded only to the limit put by the agent.

e) Each time OMP/OMIClear open positions are received, those that have chosen the "default unbundling" option will be automatically disaggregated.

f) Once the disaggregations receive period has begun, the agent may make updates or the cancellation of that information, in the same way as if a normal disaggregation had been performed.

29.4.4 Validations in reception and response: The Daily Market Operator will validate the disaggregations of open positions in accordance with the following points:

(a) First, it shall be verified that the agent performing the disaggregations is not suspended or excluded from the Market to the Term, according to the information received from the Market Operator to the Deadline, nor is it suspended or A low level of the Daily Market Operator.

b) Subsequently, it will be verified that the UCP units and units of sale or acquisition of the daily market in which the open positions are disaggregated, correspond to units of the Agent, existing and existing for the date that is being unadded.

c) It will be checked that the offering units are associated with the UCP for the date being disaggregated.

d) It will be verified that the disaggregated energies for each offering unit are consistent with the information of available maximums and powers available to the Operator of the Daily Market at the time of receipt of the disaggregations.

e) It will be verified that the unbundling of the energy from the open position of a UCP for a time period is performed either in units of sale, or in units of acquisition, as is the open position of the UCP of sale or purchase.

In case the agent validations are not exceeded, all disaggregations information with the corresponding warning message will be rejected.

In case of not exceeding the validations relative to the offering units and UCP units, all the unbundling information of that UCP that does not meet the validations with the corresponding warning message will be rejected.

29.4.5 Information Update: Disaggregations information can be replaced by communicating a new disaggregations information for a UCP. In case of compliance with the established validations, the new information will replace all the effects to the previous information. If the established validations are not met, the previous available information that was previously accepted as valid will be maintained as valid.

The agent will be able to communicate the cancellation of a reported unbundling information of a UCP for a given day. In this case, all information in that UCP, including shipments previously accepted as valid, will be considered invalid.

29.4.6 Creation of offers from open positions in the Market Term: Disaggregations in units of sale or acquisition of open positions from the market with time to time with delivery physical, sent by the agents and which have been valid, will be considered in the process of the appeal of the Daily Market as offers at an instrumental price. As a time of high disaggregation, the disaggregation information is considered to be received by the agent.

Disaggregations in acquisition units will be considered for all purposes as simple offers at purchase price and disaggregations in units of sale will be considered for all purposes as simple offers at an instrumental selling price.

29.5 Exchange of Information with the Term Market Operator.

29.5.1 Structural Data Information: The exchange of information on the Agents is intended to identify and qualify the Physical Settlement Agents of the Term Market and the respective UCPs with which they liquidate operations in the Daily Production Market.

With regard to sending information between OMIE and OMIP-OMIClear, this will be done by making the relevant information available to the other party, with the party receiving the obligation to collect it.

29.5.1.1 Admission of a settlement agent by physical delivery: Any person on the market for the term of the market who wishes to settle for the physical delivery of his positions must be a daily market agent or have a entered into a contract with a physical liquidator of the forward market, which is a daily market agent,

Prior to acceptance as a Physical Liquidation Agent by OMIP-OMIClear, the following exchanges of information will be conducted between the Term Market Operator and the Daily Market Operator:

a) The Term Market Operator will request the Daily Market Operator to accept the Physical Settlement Agent.

b) The Daily Market Operator will reject or accept the Physical Settlement Agent.

(c) The Term Market Operator shall accept the possibility of physical delivery to the agent, in the event that the Daily Market Operator has given its acceptance.

29.5.1.2 High-Term Procurement Units (UCP): Prior to the acceptance of a UCP concerning the energy of a Physical Liquidation Agent in the Daily Market, the following exchanges of information will be carried out between the Term Market Operator and the Daily Market Operator:

a) The Term Market Operator will request the Daily Market Operator to accept the UCP by indicating the name of the agent, the code of the agent, and the UCP code.

b) The Daily Market Operator will accept the UCP, communicating to OMIP-OMIClear on the next business day the high in its UCP system, indicating from when it is available.

c) The Term Market Operator will accept the UCP definitively and will transmit the decision to the Agent.

d) Both operators will be able to request the other operator to send all the updated information of the valid agent/UCP pairs at that time.

29.5.1.3 Low of a Physical Settlement Agent of the Term Market Operator: When a low-or-out of a physical settlement agent of the Market Operator is produced, the operator must report the following information to the Daily Market Operator:

a) The Term Market Operator shall inform the Daily Market Operator of the absence of the Agent and of the respective units of term procurement.

b) The Term Market Operator shall make available to the Daily Market Operator the information containing the name and code of the agent and the respective UCP of the agent.

29.5.1.4 Temporary suspension of an agent of the Daily Market Operator: In case of a temporary suspension of an agent of the Daily Market Operator, the Term Market Operator will follow its procedures and the Operator of the Market Journal will reject physical deliveries indicating the reason for rejection.

29.5.1.5 Exclusion or absence of an agent of the Daily Market Operator: When a trader is discharged or discharged from the Market Operator, the trader must communicate the following information to the Market Operator Deadline:

a) The Daily Market Operator will inform the Operator of the Low Agent Market.

b) The Term Market Operator will withdraw the possibility of physical delivery to the Agent.

(c) For a period of up to two working days, it shall be admitted that the agent is refused his physical deliveries to the Daily Market Operator, in the same way as in the case of temporary suspension of an agent of the Daily Market.

29.5.2 General Markets Information: The Daily Market Operator and the Term Market Operator will carry out the following exchanges of information:

a) Public information that they consider relevant, taking into account their availability on the public web of each market.

b) Essential information, by posting a link to the other market's public web when users require additional information.

Rule 30. First Court of Appeal of the daily market.

30.1 Basic elements of the daily market appeal procedure.

The Market Operator will make the appeal of the offers of sale and purchase of energy by means of the algorithm called Euphemia. The detailed description of the algorithm will be agreed by the Market Operator, OMIE, with the other European market operators with whom it has signed the cooperation agreement for the realization of a single common appeal between different European market operators. This agreed document will be published by the market operator, OMIE, on its website, and will be presented by OMIE, and by each of the Market Operators, to the Regulators or entities responsible for the approval of the Market Rules. in each case.

The production of energy covered by the bilateral contracts in which they are involved will not be incorporated in the appeal process, nor taken into account during the appeal process in order to carry out the verification of sales maximums. or load gradient of the unit of sale in question.

The price in each programming period in each offer zone will be that corresponding to the outcome of the Euphemia algorithm.

Prior to the conduct of the cassation process the following validations will be performed, in order to select the offers that are considered in the process of appeal, with the information sent by the Operators of the System on international bilateral contracts, on inavailabilities, and with the information of the energies with notification of capacity rights and allocation of capacity rights, submitted before the closing of the period of receipt of tenders daily market.

Agent Warranty Validations:

After the closing of the period of receipt of tenders to the market session, the validation of all the offers of purchase of each agent will be carried out to verify that these offers of acquisition have guarantees sufficient.

For the purposes of the valuation of the bids, the valuation of the energy tranches shall be considered in each hour at their prices including the applicable taxes and quotas.

It will be verified that the agent to which the offer unit is to be liquidated has sufficient guarantees for the purchase offer. The agent to be liquidated the offering unit will be unique except in the following two cases, where it will be performed as follows:

1. The offer unit is shared ownership, or it groups shared ownership units all of them in the same percentage between different agents represented on behalf and for others. In this case each of the operators must have sufficient guarantees to support the percentage of the offer to purchase their ownership.

2. The unit of offer is of representation of units of different agents in name and for account of others with different percentages of property. In this case each of the agents must have sufficient guarantees to support the full purchase offer.

The value of the offer will be compared with the balance of surplus guarantees of the corresponding agents on the day to which the offer applies, with the best information available at the time of closing of the receipt of tenders.

If all the agents of sufficient guarantees are available, the offer will be accepted on a provisional basis, entering the process of appeal. Otherwise it will not be incorporated into the process.

For each acquisition offer incorporated in the appeal process, a reduction in the balance sheet of surplus securities of the relevant agents will be noted for the applicable value of such an offer as appropriate. Once the settlement is completed, the results of the billing will be listed instead.

Validations to offers presented to the daily market:

In the first place, the normal or default offers of the units with the allocation of capacity rights presented to the market will be validated, in the opposite direction to the order of insertion, and in the first place the normal offers and subsequently the default ones.

The validation will check that for the last valid offer presented, normal or default, for each unit of sale or acquisition, that the power of the scheduling period of the offer, plus the energy of the same unit and period of programming, executed in international bilateral contracts, or notification of use of capacity rights, previously communicated by the System Operators and accepted, does not exceed any of the following values:

-The maximum unit time energy in the Market Operator database.

-The maximum available energy considering the inavailabilities in force.

In the event that none of these values are exceeded, in any of the programming periods, the offer will be accepted for the appeal process. In the event that any such securities are exceeded, in any of the programming periods, the offer shall be rejected in full.

Second, normal or default offers will be validated, not previously validated, in reverse to the order of insertion, and first the normal and then default offers.

The validation will check that for the last valid offer presented, normal or default, for each unit of sale or acquisition, that the power of the scheduling period of the offer does not exceed any of the following values:

-The maximum unit time energy in the Market Operator database.

-The maximum available energy considering the inavailabilities in force.

-For generic sales offer units the energy offered is less than or equal to the buyer balance of the generic programming unit in the same programming period.

-For the generic offer units of purchase the energy offered is less than or equal to the vendor balance of the generic programming unit in the same programming period.

In the event that none of these values are exceeded, in any of the programming periods, the offer will be accepted for the appeal process. In the event that any such securities are exceeded, in any of the programming periods, the offer shall be rejected in full.

Validation in the closing of the receipt of offers from open positions in the market within the term and consideration of these offers in the daily market appeal algorithm:

For the purposes of validation of the energy disaggregated by the agents at the time of the closing of the receipt of tenders, they will be considered as offers to the daily market at an instrumental price, and will be considered the moment of acceptance as the time when the unbundling of the energy of the UCP is received and accepted.

All effects will be considered the previous information in the validation process by reverse order of arrival, giving priority to the latest information.

In the instant of validation to the closing of the offer receipt only the offer coming from the open positions corresponding to the offer unit that does not exceed the established validations will be rejected. the rest of the information for other offering units corresponding to the same unbundling independently.

Valid disaggregations of open market positions with a physical delivery settlement will be considered as an instrument offering. The energy and price information for these tenders shall be treated in the matching algorithm as independent information of the offers of the corresponding units sent by the agent for the daily market:

(a) The complex conditions that the agent could have included in the offer sent to the daily market will not be applied to the energy corresponding to the offers from open positions in the market period.

(b) The appeal process for the daily market shall be carried out as indicated in the rule to that effect, independently dealing with both bids from the same offering unit.

30.2 Appeal procedure.

The Euphemia appeal algorithm seeks the optimization of the so-called welfare, which corresponds to the sum for the set of all time periods of the programming horizon of the benefit of the offers of purchase, plus the benefit of the sales offers, plus the congestion income. The difference between the price of the married purchase offer and the marginal price received is understood for the benefit of the purchase offers, and the difference between the marginal price received and the price is understood for the benefit of the sales offers of the married offer.

The Euphemia algorithm considers aggregated curves in step, corresponding to the curves for which the start price of acceptance of a stretch of energy and the full acceptance price of that energy span is coincident, and with interpolated aggregate curves, which are those corresponding to curves for which the start price of acceptance of a section of energy and the full acceptance price of that energy span differ at least in the jump minimum between offer prices. For the treatment of both types of curves the Euphemia algorithm performs the process of cassation with a precision in the values of prices and in the values of energy, higher than the limit of decimals set for the submission of offers. Once the cassation process has been carried out, the rounding of the values of energy and prices, to the precision established in each market, is carried out for each market. The precision established for the Iberian market is two decimal places for prices, set in euros per MWh, and one decimal for the energies, established in MWh.

The Euphemia algorithm considers in each market the block conditions or complex conditions specific to said market, the conditions being for the Iberian market offers those established in these rules.

The outcome of the Euphemia algorithm is limited to the exchange conditions established in each market between the offer zones. In this sense, the net flow between the domestic supply zones to the Iberian market (flow between Spain and Portugal) and the borders of the Iberian system (flow between Spain and France, and flow between Spain and Morocco), will be limited to capacity available to the market communicated by the system operators responsible for such communication.

The Euphemia algorithm treats all simple offers as a single offer, sum of all the simple offers in the offer zone. Upon completion of the appeal process, the market operator shall proceed to the allocation of the married and non-married tranches of the simple tenders in each bid area.

Once the Euphemia appeal process has been carried out, the values of the married and non-married energy tranches of all the tenders that have declared some of the complex conditions, except the condition of indivisibility, as well as the values of the married and non-married energy tranches by the set of tenders which have not declared any complex conditions or have only declared the condition of indivisibility.

For the execution of the appeal the algorithm will perform the following operations:

30.2.1 Establishment of the order of economic precedence of the sales offers and determination of the sales offer curve: The Market Operator will establish, for each programming period of the daily horizon, the order of the economic precedence of the offers of sale from the cheapest, until reaching the most expensive necessary to meet the demand for energy in that programming period. In the case where there are tranches of energy at the same price, the following criteria shall be applied:

• Date, time, minute, and second of insertion into the Market Operator's information system from the lowest to largest offering.

• Energy volume from the lower to the largest stretch. In the event that the mentioned date, time, minute, and second also matches both bids, these will be ordered by the amount of power in the span.

• Lower-to-greater alphabetical order. In case the amount of energy also matches it will be sorted in alphabetical order, and numerical in its case, decreasing.

The Market Operator will determine the aggregate sales offer curve by adding in ascending order the price of the quantities of energy offered irrespective of the unit of sale to which those amounts are correspond.

For the execution of the Euphemia Appeal Algorithm two aggregate sales curves shall be determined for each bid area:

• The first aggregate sales offer curve will contain all the tranches of all the simple offers and all the tranches of all the simple offers that have declared in some time period the condition of indivisibility. The energy offered at the same price shall be added to that price without differentiation. The curve shall not contain identification of the offering units to which they correspond.

• The second aggregate sales offer curve will contain all the tranches of the economic precedence order that are not contained in the first aggregate sales offer curve, without adding the energy offered at the same price, and with the identification of the offer tranches belonging to the same offer. The curve shall not contain identification of the offering units to which they correspond.

30.2.2 Determination of the acquisition curve: The Market Operator shall establish for each programming period of a daily horizon, the order of economic precedence of the purchase offers from the most expensive, up to to reach the cheapest in that programming period. In the case where there are tranches of energy at the same price, the following criteria shall be applied:

• Date, time, minute, and second of insertion into the Market Operator's information system from the lowest to largest offering.

• Energy volume from the lower to the largest stretch. In the event that the mentioned date, time, minute, and second also matches both bids, these will be ordered by the amount of power in the span.

• Lower-to-greater alphabetical order. In case the amount of energy also matches it will be sorted in alphabetical order, and numerical in its case, decreasing.

The Market Operator will determine the aggregate purchase offer curve by adding in descending order the price of the quantities of energy offered regardless of the unit of purchase to which those amounts correspond.

For the execution of the Euphemia Appeal Algorithm an aggregate purchase offer curve will be determined for each bid area, which will contain all the tranches of all the purchase offers. The energy offered at the same price shall be added to that price without differentiation. The curve shall not contain identification of the offering units to which they correspond.

30.3 Treatment of offers with the complex condition of minimum income.

The Euphemia algorithm performs the appeal process with a precision higher than the two decimal places established for the prices of the offers on the Iberian market and a precision higher than a decimal place established for the energy of the offers in the Iberian market.

Although the Euphemia algorithm considers the complex conditions established in these rules, it must meet the requirements that set these conditions, the verification of compliance with the complex condition of minimum income will be realized with the value of the prices and energies used in the process of the cassation before the rounding, thus being able to be married an offer, being the sum value of the fixed term plus the term variable multiplied by the married final energy after rounding, less than the sum of the multiplication of the Married energy after rounding, for the marginal price schedule after rounding.

30.4 Treatment of offers with complex condition of gradients.

In the application of the complex condition of load gradients, a stretch of energy offered at a price higher than the marginal price may be married, if an energy appeal is allowed with the acceptance of that tranche of supply greater in the adjacent programming periods, such that a solution is obtained with a greater welfare, meeting the other conditions of the algorithm.

30.5 Treatment of offers with the condition of indivisibility.

Once the Euphemia cassation process has been carried out, the values of the married and non-married energy tranches of all the offers that have declared some of the complex conditions of gradients, income, will be allocated. minimum and scheduled stop, as well as the values of the married and non-married energy tranches by the set of tenders which have not declared any of the above complex conditions.

If in the process of allocation of the tranches of the simple bids or of the tranches of the offers with the condition of indivisibility, an indetermination is made as a result of the aggregate married offer of such offers, referred to as simple to marginal aggregate energy, exceeds the energy allocated to those tenders in the Euphemia appeal process, called energy to be spread out to marginal, shall be carried out as follows:

a) If the marginal price is greater than zero, each tranche shall be allocated a proportional share of the aggregate simple to marginal energy, such that the sum of the allocations is equal to the energy to be allocated to marginal. The ratio applied is the ratio of the ratio between simple to marginal aggregate energy and the energy to be spread out to marginal.

b) If the marginal price is zero, the following criterion applies:

b.1 If the sum of energy of the tranches of the simple aggregate to marginal energy that have declared the condition of indivisibility is higher than the energy to be spread out to marginal, it shall apply as described in subparagraph (a).

b.2 If the energy sum of the tranches of the simple aggregate to marginal energy that have declared the status of indivisibility is less than or equal to the energy to be spread out to marginal, it shall be allocated to the tranches that have declared the condition of indivisibility an energy equal to the energy offered. Married tranches who have not declared the status of indivisibility shall be allocated a proportional share of their offer, such that the sum of the allocations is equal to the energy to be allocated to marginal less the energy allocated to the units married with declaration of indivisibility.

30.6 Recasation Of The Iberian Daily Market.

Once the daily market appeal process has been carried out, and once the result has been confirmed by OMIE as well as by all the market operators that make the cassation coupled to the Iberian market, the results of the for the France-Spain interconnection and the prices, called final prices, will be firm.

If, subsequently, the publication of the Cassation Base Program, an error in the appeal process is observed in time, the operator of the Iberian market will proceed, once the operators of the Spanish system have been consulted and The Court of First Instance held that the Court of First Instance held that the Court of First Instance held that the Court of Justice held that the Court of First Instance held that the As a result of the recasation, a new full result of the appeal of the daily Iberian market will be obtained, which will replace the previous result, being the one to which the liquidations process applies, except as indicated below. For the purpose of the economic valuation of the flow in the interconnection with France, as well as for the purpose of calculating the congestion income in such interconnection, the price of the Spanish system called the final price, which corresponds to the Common appeal confirmed by the European market operators.

30.7 Reopening of bids to the Daily Market session.

If any of the situations referred to in the local procedures of one of the market operators occur in the appeal process of the daily market, such that the receipt of offers to the session of the market will be reopened. In the context of the market operator's operating scope, given that such an opening implies a new appeal process for all markets, the operator of the Iberian market will be able to open the period of receipt of tenders to that market daily market for all players in the Iberian market, over a period of time consistent with the reopening the process of receiving bids in the other markets. The operator of the Iberian market shall inform all operators, by means of a message on the website of agents, of the opening hours of the session and the reason for such reopening.

Likewise, when any of the situations referred to in the common procedures for the development of the daily market appeal process leading to a situation of partial or total decoupling of any of the Interconnected price zones, the operator of the Iberian market may open the period of receipt of tenders to the daily market session for all agents of the Iberian market, for a period of time consistent with the procedures common development of the appeal. The operator of the Iberian market shall inform all operators, by means of a message on the website of agents, of the opening hours of the session and the reason for such reopening.

Rule 31. Outcome of the Daily Market appeal.

In the case of shared ownership offer units, the married energies will be assigned to each co-owner proportionally to the difference between the total energy of the unit married in the daily market plus the energy committed in all bilateral contracts multiplied by the ownership percentages and the energy information allocated to the co-owner that will be engaged in bilateral contracts.

In cases where the more than declared energy in the daily market to be allocated to each agent exceeds the maximum available energy or the declared energy to be allocated to an agent exceeds that which corresponds to its The energy property percentage of the foreseeable PBF will not be taken into account for any of the declarations and therefore the percentages of ownership on the unit of each of the agents will be used.

Rule 32-Calculation of the program resulting from the appeal of the Daily Market.

The resulting programme of appeal is the result of the appeal referred to in Article 10 of Royal Decree 2019/1997 of 26 December 1997.

The Market Operator shall make available to the agents the content of the resulting program of appeal corresponding to its units of sale or acquisition under the terms set out in these Rules.

The Market Operator will make available to the System Operators the content of the resulting matching program, by preassigning to a generic offer unit the values corresponding to the unit of the generic offer of sale and the values corresponding to the generic offer unit of purchase, with its sign. The generic offer unit will have positive and negative values, as it is sold or purchased, and will serve exclusively to make the result of the appeal available to the System Operators.

32.1 Sales Unit Disaggregations Communication.

Market players with respect to the sales units with which they act on the market in the name and on behalf of third parties, will send to the Market Operator, for the purposes of liquidations, the disaggregations of the result of the an appeal to each of its sales units which are married in the appeal proceedings.

1. Each agent, in the light of the result of the appeal, shall communicate to the Market Operator the expected disaggregations of the daily market session, for each unit of sale that has more than one physical unit associated with it.

2. The files of the intended disaggregations will contain for each unit of sale the unbundling of each unit in physical units, in MWh with a maximum of one decimal place.

3. Disaggregations will be received for the result of the appeal before the time set in these rules.

4. Any disaggregations that are not received before the deadline, or whose communication is not valid, will be performed in proportion to the maximum powers of the Market Operator's database.

5. In case of failure to communicate the agent the disaggregations valid before the established time, these will be calculated by the Market Operator as stable at the point of this rule, without the consideration of the installed power limits, power greater than zero, available, being the agent responsible for the economic impact resulting from the application of the default breakdowns applied by the absence of data, or by the erroneous communication of data. The adjustment to the integer value will be performed according to the rounding rules.

However, in the case of a repeat of the appeal process, those disaggregations already sent by the agents that were valid at the time of their receipt and which remain valid with the the new result of the appeal. In another case, the agents must send the new disaggregations within the deadline that is established, proceeding according to the previous points.

32.2 Establishment of the order of economic precedence of the married bids in the result of the appeal.

The Market Operator shall establish the order of precedence referred to in Article 10 of the Royal Decree 2019, of the married, partially married and unmarried offers on the basis of the energy tranches offered and their prices, without considering any complex condition of the offers. This order will have the following considerations:

• In case two offer tranches have the same price, these will be sorted by decreasing order of date, time, minute and second of insertion into the Market Operator information system.

• In the event that the mentioned date, hour, minute, and second also matches both bids, the bids will be ordered from greater to less energy in the span.

• In case the amount of energy also matches it will be sorted in alphabetical order, and numerical in its case, decreasing.

Rule 33. th Information of the process of acceptance, verification of offers and the result of the appeal of the Daily Market.

As a consequence of the processes of acceptance, verification of offers and the result of the appeal of the daily market the Operator of the Market will generate the following information, which will be made available according to describes:

a) Information about the offer acceptance and verification process:

-The result of acceptance or non-acceptance and verification both in the insertion of the offer and in the pre-appeal validation, will be made available to the market agent with the reasons for its exclusion in the terms set out in these rules when requested. Such information shall be available at the time it is generated.

-Valid offers of the acquisition or sale units that would have been submitted to the session.

It shall be made available to the System Operators with the corresponding confidentiality and market agents respecting the confidentiality established in these Rules, after the completion of the each daily market, the set of valid sales and acquisition offers presented to each of the daily market sessions.

b) Information on the outcome of the daily market appeal:

-Prices result of the appeal: It will be generated as a result of the process of appeal and will be public and will also be made available to the market agents and the Operators of the System, being published after their generation.

The Daily Market Operator will make available to the Market Operator within two hours from the close of the daily market the prices and trading volumes traded on each hour in the market. Journal for the next day.

-Interim Program Result of the Cassation: It will be generated as a result of the process of the appeal of the daily market and will be made available to the market agents with the confidentiality established in these Rules and System Operators with corresponding confidentiality immediately after their generation.

-The order of economic precedence: It will be generated as a result of the daily market appeal process and will be made available to the System Operators with the corresponding confidentiality, immediately after their generation.

-Supply and Demand Aggregate Curves: For each set of offer zones having the same price will be generated as a result of the matching process of each of the daily market programming periods The sales and purchase aggregate shall be public and shall be made available to market players with the confidentiality set out in these Rules and published after their generation.

-Occupation of each of the international interconnections per hour with indication of the maximum commercial capacity of import and export for each interconnection, the capacity occupied in each sense and interconnection, the capacity occupied by the declaration of rights of use of capacity and the free capacity in each sense and interconnection. It will be generated as a result of the appeals process for each of the daily market programming periods and will be public.

-Result of the physical delivery process. The Daily Market Operator will make available to the Market Operator the outcome of the physical delivery process, with three possibilities:

a) That the offers have been married.

b) That the offers have been partially married.

(c) that the tenders have been rejected before the appeal of the Daily Market because they are not in conformity with the Rules of the Daily Market or because the corresponding disaggregation has not been received from the agent.

Rule 34. Exceptional Situations.

For the purposes of these Rules are exceptional situations that determine an impossibility to carry out the process of submission and acceptance of offers or the process of appeal.

The situations referred to in the previous paragraph may be a consequence of some or some of the following assumptions:

a) Power sales offer failure to meet demand using the system's instrumental price.

In such case the Market Operator will establish the order of precedence of the available sales offers by referring to the System Operators with the corresponding confidentiality order with deficit for the periods of programming in which the supply failure occurs.

b) Impossibility of performing, before the time limit set, the process of appeal with the Euphemia algorithm for the set of markets.

If the time limit set for the decoupling of all markets is reached, the Iberian market will be brought to an uncoupled with the capacity on the market with the French system null and void.

c) Force majeure.

c.1 If this is foreseeable, but inevitable, the Market Operator will make early casings by extending the daily programming horizon to include in it the programming periods in which the Exceptional situation of force majeure persisted. If the force majeure is unforeseeable, the Market Operator may determine the appeal using the historical algorithm called SIOM with the necessary adaptations to the sales and purchase offers submitted by the agents for use of that algorithm. If necessary, you can make an appeal against the historical database.

c.2 If it is due to serious breakdowns in the IT or communications equipment of the Market Operator that prevent the proper functioning of the same. The Market Operator may be able to arbitrate measures of the same content as those of point c.1) above.

(d) Impossibility of determination of the appeal as a result of the technical and economic conditions of the complex offers. The Market Operator may be able to arbitrate measures of the same content as those of point c.1) above.

If the impossibility of determination of the appeal remains, the Operator of the Market will proceed to determine the appeal using the historical algorithm called SIOM with the necessary adaptations in the offers of sale and purchase by the agents for the use of that algorithm. If necessary, you can make an appeal against the historical database.

Rule 35. th Daily Market Liquidation.

The Market Operator will determine the energy clearance for each agent participating in the daily electricity production market and in each programming period, for each unit of purchase, unit of sale and, if applicable, physical unit. In addition, the Market Operator will determine the settlement of the energy flow in the interconnection between Spain and France and the congestion revenues generated in the various interconnections of the Spanish electricity system.

In the event that the settlement is completed before the end of the period of receipt of disaggregations, default disaggregations are considered for those units of sale that are obliged to send them and which would not have done so, as set out in the "Communication of disaggregations of sales units", without prejudice to the fact that, after the end of the period of receipt of disaggregations, a new settlement is made with the final disaggregations.

35.1 Determination of the remuneration for the sellers as a result of the liquidation of the Daily Market.

Sellers operating on the daily market shall be charged for each unit of sale or, where applicable, physical unit and for each programming period a remuneration which shall incorporate the marginal price in the daily market of each the scheduling period of the offering zone where the drive is located.

The Market Operator shall conduct the daily settlement of the electrical energy for each seller participating in the daily market for each unit of sale that has been incorporated in the resulting program of the programming period.

To perform the above settlement, the Market Operator shall perform the corresponding entries in the register that will lead to such effects for each unit of sale or, where applicable, physical unit.

35.2 Prices to be considered in determining the price of the purchase of electrical energy in the Daily Market.

Buyers operating on the daily market will satisfy, for the acquired electrical energy incorporated in the programme resulting from the appeal and for each programming period, the marginal price on the daily market of each the scheduling period of the offer zone, where the unit of purchase is located.

35.3 Collection Rights in the Daily Market.

The seller whose sales offers have been married in the daily market contracting session and incorporated into the programme resulting from the appeal, shall have a right of recovery which shall be calculated as the product of the energy the production of which is allocated in each programming period to the unit of production of which it is the holder, or not of its ownership but to which it represents in its own name and as an employed person, for the marginal price fixed for it and for the offer zone where the drive is located. For these purposes, it is considered that the unit of sale to which the sale of energy imported by Spain from France is carried out, as a result of the appeal, is located in the Spanish offer area. The holder of the offer unit shall be the operator of the French market or entity empowered by the latter to practice such liquidation.

Seller's right to collect will be:

DCPBC (up, h, z) = EPBC (up, h, z) * PMH (h, z)

Being:

DCPBC (up, h, z): Seller's collection right by the power corresponding to the up production unit, located in the z offering zone, at the hour h.

EPBC (up, h, z): Energy allocated to the unit of sale or physical unit, up, located in the z-offering zone, in hour h, in the daily market (PBC)

PMH (h, z): Marginal time price corresponding to hour h in the daily market (PBC) in the z-offering zone. If a new appeal is made in accordance with the rule on "Recasation of the Iberian Daily Market", the price to be considered shall be that corresponding to that recasination, except for the energy exchanges between Spain and France which will be settled by the the price of the Spanish offer area corresponding to the final result of the appeal confirmed by the market operators.

35.4 Payment obligations in the Daily Market.

The buyer whose purchase offers have been married in the daily market contracting session and incorporated into the resulting programme of the appeal shall have a payment obligation which shall be calculated as the product of the electrical energy the acquisition of which is assigned in each programming period to the unit of acquisition of which it is the holder, or not of its ownership but to which it represents in its own name and for hire, for the marginal price fixed for the for the offer zone where the unit is located. For these purposes, it is considered that the unit of purchase to which the energy clearance exported by Spain to France will be carried out, as a result of the appeal, is located in the Spanish offer area. The holder of the offer unit shall be the operator of the French market or entity empowered by the latter to practice such liquidation.

The buyer's obligation for each takeover offer at hour h will be:

OPPBC (ua, h, z) = EPBC (ua, h, z) * PMH (h, z)

Being:

OPPBC (ua, h, z): Buyer's payment obligation for the power corresponding to the ua acquisition unit, located in the z offering zone, at the hour h.

EPBC (ua, h, z): Energy allocated to the acquisition offer unit au, located in the z-offering zone, in hour h in the daily market (PBC).

PMH (h, z): Marginal time price corresponding to hour h in the daily market (PBC) in the z-offering zone. In the event of a new appeal in accordance with the rule on "Recasation of the Iberian Market", the price to be considered shall be that corresponding to that appeal, except for the energy exchanges between Spain and France which will be settled at the price of the Spanish offer area corresponding to the final result of the appeal confirmed by the market operators.

35,5 revenue in the Daily Market by the process of market separation.

The liquidation of the daily market, following the application of the process of separation of markets in each interconnection, will result in income called 'congestion income' which will be calculated as the product of the exchange effectively used in the framework of the process of market separation in each programming period for the difference in the marginal prices fixed for the same in each of the bidding zones on both sides of the market. interconnection.

35.5.1 Income of congestion in the daily market in the interconnection between Spain and Portugal: The congestion income generated in the interconnection between Spain and Portugal will be divided equally between the system operator Spanish and Portuguese electric.

Each system operator will therefore be credited with a charging right in the hour h as:

DCPBCPTES_CI (h) = 0.5 * abs (EPBCPTES (h)) * abs (PMH (h, z₁) -PMH (h, z₂))

Being:

DCPBCPTES_CI (h): Income in the hour h, in the daily market, recorded to the Spanish and Portuguese systems, by the application of the process of separation of markets between the two areas of offer, Spanish and Portuguese.

EPBCPTES (h): Exchange capacity effectively used in the framework of the market separation process in hour h between the Spanish and Portuguese offer zone.

z_1,z₂: Subindexes that refer to the Spanish and Portuguese offering zones respectively.

35.5.2 congestion income in the daily market in the interconnection between Spain and France: The congestion income generated in the interconnection between Spain and France will be divided equally between the system operator Spanish and French electric.

A payment obligation will be entered into the French electricity system, in the hour h as:

OPPBBFRES_CI (h) = 0.5 * abs (EPBCFRES (h)) * abs (PMH (h, z₁) -PMH (h, z₃))

A charging right will be entered into the Spanish electricity system operator at the hour h as:

DCPBCFRES_CI (h) = 0.5 * abs (EPBCFRES (h)) * abs (PMH (h, z₁) -PMH (h, z₃))

In addition, if a new appeal is made in accordance with the "Recasación del Mercado Diario Ibérico" rule, the following notes will be taken into account for the operator of the Spanish electricity system in hour h:

-If PMH '(h, z₁) >PMH (h, z₁) >PMH (h, z₃) or PMH' (h, z₁) 1) 3)

DCPBCFRESAJ_CI (h) = abs (EPBCFRES (h)) * abs (PMH ' (h, z₁)-PMH (h, z₁))

-If PMH (h, z₁) > PMH (h, z₃) and PMH (h, z₁) > PMH ' (h, z₁)

or PMH (h, z₁) < PMH (h, z₃) and PMH (h, z₁) < PMH ' (h, z₁)

OPPBCFRESAJ_CI (h) = abs (EPBCFRES (h)) * abs (PMH ' (h, z₁)-PMH (h, z₁))

Being:

DCPBCFRES_CI (h): Income in the hour h, in the daily market, recorded to the operator of the Spanish system, by the application of the process of separation of markets between the two zones of offer, Spanish and French.

OPPBBFRES_CI (h): Payment obligation in the hour h, on the daily market, annotated to the French system, by the application of the process of separation of markets between the two bidding zones, Spanish and French.

DCPBCFRESAJ_CI (h): Income in the hour h, in the daily market, recorded to the operator of the Spanish system as a result of the recasation of the daily Iberian Market and the process of separation of markets between the two bidding zones, Spanish and French.

OPPBFRESAJ_CI (h): Obligation to pay in the hour h, in the daily market, annotated to the Spanish system as a result of the recasation of the Iberian Market and the process of separation of markets between the two zones of offer, Spanish and

EPBCFRES (h): Exchange capacity effectively used in the framework of the market separation process in hour h between the Spanish and French offer zone.

PMH (h, z): Marginal time price corresponding to hour h in the daily market (PBC) in the z-bid area corresponding to the final result of the appeal.

PMH ' (h, z): Marginal time price corresponding to hour h in the daily market (PBC) in the area of supply z as a result of the appeal contained in the "Recorder of the Iberian Daily Market" rule.

z_1,z₃: Subindexes that refer to the Spanish and French offering zones respectively.

35.5.3 congestion income in the Daily Market in the interconnection between Spain and Morocco: The congestion income generated in the interconnection between Spain and Morocco will be settled down to the electricity system operator

The operator of the Spanish system will therefore be credited with a charging right in the hour h as:

DCPBCMAES_CI (h) = abs (EPBCMES (h)) * abs (PMH (h, z₁) -PMH (h, z₄))

Being:

DCPBCMAES_CI (h): Income in the hour h, in the daily market, annotated to the Spanish system, by the application of the process of separation of markets between the two zones, Spanish and Moroccan.

EPBCMES (h): Exchange capacity effectively used in the framework of the process of separation of markets in hour h between the Spanish and Moroccan zones.

z_1,z₄: Subindexes that refer to the Spanish and Moroccan zones respectively.

35.6 publication of the results of the Daily Market liquidation.

According to the general rules of confidentiality established in these rules, after each session of the daily market the Market Operator will make available to market players, through their systems of information, the results of the payment entitlements and the payment obligations arising from that market, for the daily programming horizon for each contracting session.

The log for each hiring session will be provisional if:

(a) The corresponding cassation is provisional according to the rule "Secuence of Daily Market Operations"

(b) The deadline for communication of disaggregations to the results of the appeal of the relevant markets is open.

(c) Asimilar, a posteriori, erroneous values in liquidation.

These entries will become final when none of the above circumstances are present, except where for any of those reasons a new settlement is necessary, in which case the new ones Entries shall be final when there is no provision for any provision of provisionality between those mentioned in the preceding paragraphs.

CHAPTER SEVENTH

Programs received after the Daily Market

Rule 36. The daily operating base program.

System Operators will make available to the Market Operator before the deadline set in these rules, the Daily Operating Base Program, as well as contract statement communications. for the purposes of compliance with existing legislation as regards the confirmation of compliance with the submission of tenders to the daily market. The Market Operator shall make available to the agents such information as well as the conversion of such information into units of offer.

Rule 37. Vable Daily Program.

The System Operators will make available to the Market Operator prior to the opening of the first session of the intraday market the Viable Daily Program, for the purpose of the realization of the validations to the offers of the Intraday market. The Market Operator shall make available to the agents such information as well as the conversion of such information into units of supply necessary for the validations and the conduct of the appeal process.

CHAPTER EIGHTH

Intraday Market

Rule 38. The object and basic concepts.

The intraday market is intended to cater for the sale and purchase of energy that may occur in the following hours, after the Viable Daily Program has been established.

The intraday market is structured in sessions according to the following rules:

(a) A viable daily programme shall be completed, intra-day market sessions shall be opened for the programming periods included in that viable daily programme and, where appropriate, in the previous one in progress.

(b) Each intraday market session may be subject to one or more programming periods, provided that these are available on a published, viable daily basis.

c) Each programming period may be the subject of successive intra-day market sessions.

(d) No programming periods for which there is no published viable daily programme may be included in intra-day market sessions.

e) The initial moment of submission of offers of sale and purchase on the intraday market, and the time limit of filing of the same, will be determined in these Rules of Operation and must ensure that any programming period with a published viable daily programme, at least the subject of an intra-day market session.

Intraday market sessions will be established as follows:

At least six daily intraday market sessions will be held. The Market Operator may establish and modify the schedules of the sessions and the distribution of internal times of each session, including the horizons of the sessions, if it is advisable, after consulting the Committee of Market Agents and to System Operators, and authorization from the Ministry of Industry, Energy and Tourism.

The extension of the number of sessions of the intra-day market, until the implementation of the call for sessions, will be determined by the Market Operator, after report of the System Operators, of the Committee of Market players and regulatory bodies concerned, and authorisation from the Ministry of Industry, Energy and Tourism.

Rule 39. Intra-day market offerings.

39.1 Object and content of sales and acquisition offerings.

Sales and acquisition offers can be simple or complex, because of their content. They are called complex offers to simple offers that additionally declare to the simple offer some of the complex conditions set forth in these rules.

Several offers of sale and/or acquisition may be submitted for the same programming period and one unit of sale or acquisition that will be treated independently.

The Market Operator will assign in each programming period to the generic sales offer unit the seller balance of the generic programming unit and the generic offer unit of purchase the buyer balance of the unit of generic programming, of the Viable Daily Program in the case of the first session and the Final Schedule Program of the previous session for the rest of the sessions.

In the horizon hours of each intraday market that is the last time they are traded, the agents that in the final schedule before the intraday session have program in the generic offer units of sale or purchase, they must be disposed of by the presentation of the corresponding simple offers at an instrumental price.

39.1.1 Simple Offers: They are those presented for one or more programming periods with an expression of a price, being zero, and of an amount of energy, being able to exist for each programming period object of offer up to a maximum of five tranches for the same offer, with a different price for each of these tranches. The simple offers do not include any additional conditions to be taken into account in the appeal.

39.1.2 Complex Offers: These are the ones that, meeting the requirements for simple offers, incorporate at least some of the conditions that are listed in the following sections.

The limitations arising from the treatment of complex offers presented on the intraday market will only affect the energies included in those offers, and not the energies previously allocated in the viable programme and in previous sessions of the intraday market.

39.1.2.1 Complex conditions common to sales and acquisition offerings.

39.1.2.1.1 Condition of production capacity variation or previously acquired power, or load gradient condition: Sellers and buyers may incorporate this condition into the set of bids that the the holders of the units of sale or the purchase of the units present for each of them. The load gradient condition consists in establishing a maximum variation of production capacity or acquired power, between two consecutive programming periods.

This condition shall be expressed in MW/minute of rise or drop, or start or stop, and its inclusion in the appeal process shall be performed in accordance with the rule on checking the gradient condition of the load. As a value to be taken into account in the appeal, the entry in the tender of the smallest identifying number corresponding to the unit shall be chosen.

The result of the appeal shall be, in any case, limited by the maximum and minimum capacity of production or purchase of pumping, or by the total of energy previously allocated in the viable programme and previous market sessions. intra-day to that unit of sale or acquisition, respectively. This condition shall in any event respect the continuous linear variation of the production of the unit of sale, or of the energy acquired by the unit of purchase, in each of the programming periods.

39.1.2.1.2 Full acceptance condition on the appeal of the first tranche of the offer: The sellers and buyers may include in the offers they submit for each unit of sale or purchase, the condition that, in case If the first tranche of your offer is not fully married, this offer will be removed.

39.1.2.1.3 Full acceptance condition in each hour on the appeal of the first tranche of the offer: The sellers and buyers may include in the bids they submit for each unit of sale or purchase, the condition of that, in the event of not being fully married the first tranche of its offer in one hour, all the tranches of the offer corresponding to that hour will be removed from the appeal, remaining the remainder of the offer valid.

39.1.2.1.4 Minimum condition number of consecutive hours of full acceptance of the first tranche of the offer: Sellers and sellers may include in the offers they submit for each unit of sale or purchase, the the condition that, in the event of not being fully married on the horizon of appeal the first tranche of its offer for the consecutive number of hours specified therein, this offer is eliminated.

39.1.2.1.5 Maximum power condition: The maximum power condition is the one by which the market operator's acceptance of an offer (for sale or purchase) for the programming horizon determines, if the offer is married, either by a total volume of energy, less than or equal to that indicated by the holder in its offer, and never by a higher volume.

39.1.2.2. Complex conditions of the sales offers.

39.1.2.2.1 Minimum income condition: Sellers may include as a condition in each sale offer that they present by a unit of sale or acquisition, that such offer is only understood to be presented for the purposes of the an appeal if it obtains a minimum income that will be expressed as a fixed amount in euro, without decimals and, as a variable amount expressed in euro per MWh, with a maximum of two decimal places.

The minimum income condition cannot be used in those sales offers where more than 50% of the energy is offered at zero price.

39.1.2.3. Complex conditions of takeover bids.

39.1.2.3.1 Maximum payment condition: Buyers may include as a condition in each takeover offer that they present by a unit of sale or acquisition, that such offer is only understood to be presented for the purposes of the appeal, if it produces as a result of its acceptance a payment of less than the maximum, which shall be expressed as a fixed amount in euro, without decimals and, as a variable quantity expressed in euro per MWh, with a maximum of two decimal places.

39.2 Format for the presentation of sales or acquisition offers.

The offers must have the form set out below, in relation to the content of the offers:

a) Sales or acquisition unit code.

b) The offer number. Offer number for the same offering unit.

c) Description of the offering. Alphanumeric field that does not use the algorithm.

d) Offer class: sale or acquisition.

e) Currency Unit: Euro.

f) Type of adjustment according to the codes defined in the Market Operator information system.

g) Economic conditions, minimum income condition for offers of sale by the unit of sale or acquisition, or maximum payment condition for the offers of purchase by the unit of sale or acquisition, which shall be expressed by the following two values:

-Fixed term (TF) for the same programming horizon, fixed in euro, without any decimal places.

-Variable term (TV), which will remain unchanged for the same programming horizon, fixed in euros per MWh, with two decimal places being included.

If no value is declared or a value equal to zero (0) is declared, it means that the offer does not incorporate the fixed term and/or the corresponding variable term of this condition.

h) Stop, start, upload, and drop gradient (MW/Minute, with a maximum of one decimal). If no value is declared or a value equal to zero (0) is declared, then the offer does not incorporate the corresponding gradient.

i) Technical minimum (MW with a maximum of decimals equal to that set in the hiring unit). If no value is declared or a value equal to zero (0) is declared, it means that the offer does not incorporate the technical minimum.

j) Indicator of the full acceptance requirement of the first tranche of the sale offer (S/N).

k) Maximum allowable energy by the offer in MWh with a maximum of one decimal place. If no value is declared or a value equal to zero (0) is declared, then the offer does not incorporate this condition.

l) Indicator of the full acceptance requirement at each hour of the first tranche of the offer (S/N).

m) Minimum number of consecutive hours required with the first tranche of the married offer in full. If no value is declared or a value equal to zero (0) is declared, then the offer does not incorporate this condition.

For each stretch and programming period:

Date that the offer covers.

Time that the offer covers.

The span number of the offering.

Amount of energy in MWh with one decimal maximum.

Price offered in euros per MWh, with a maximum of two decimal places.

39.3 Information received from system operators: inavailabilities, commercial capabilities of international interconnections, information on the allocation of capacity rights, limitations on the possibility of zonal offerings and limitations.

The sale and acquisition offer presentation is subject to the following limitations.

The sum of the energies assigned in the last schedule, or the daily viable program if it is the first session of the intraday market, together with the bidder, must be understood among the limits of energy higher and lower than the market operator information system has.

Without prejudice to the foregoing, subsequent information sent by the System Operators to the Market Operator's information system on the inavailabilities of sales units received in the system Market Operator information prior to the closing of the receipt of tenders for the session shall be held during the appeal process.

39.3.1 Definition and incorporation of information about inavailabilities: Information about inavailabilities sent by the System Operators to the Market Operator information system will be made through This will always contain for each system all the inavailabilities that the Operator of the corresponding System has confirmed of any of the physical units at the time of its shipment. The inavailabilities shall be sent per physical unit. Accordingly, the Market Operator will consider that all production units not included in the latest information received from the corresponding System Operator are available.

Information about inavailabilities will be incorporated into the Market Operator's information system, at the time of receipt in the Market Operator's information system, with the time limit of entry to The closing time of the session is an appeal.

39.3.2 Definition and incorporation of information on limitations to the possibility of offering and zoning limitations: Information about limitations sent by the System Operators to the Market Operator will contain always for each system all the limitations that the Operator of the corresponding System imposes on the possibility of offering in the intraday market of any of the units of sale or acquisition, at the moment of the sending of the information. There will be two types of limitations: unit limitations for units involving each limitation to a single unit, and zonal limitations involving multiple units. For the purpose of the receipt of tenders and the appeal process, only information on both types of limitations received per unit of sale or acquisition shall be taken into account.

Information on zoning and unit limitations will be incorporated into the Market Operator's information system at the time of receipt in the Market Operator information system, except during the trading sessions of the Intra-day market which will not be incorporated, the incorporation being made when the final schedule of the session is firm. Only limitations on the possibility of offering that are within the programming horizon of the next intraday market session will be used.

The System Operators will communicate to the Market Operator Zonal limitations to a set of units of sale or acquisition of their zone to be considered in the process of appeal. The zonal limitations may be the maximum sale balance of the sum of the accumulated programs of the units of sale by discounting the accumulated programs of the units of acquisition, or the minimum balance of those programs. Zonal limitations may also be the maximum amount of acquisition of the sum of the accumulated programs of the acquisition units by discounting the accumulated programs of the units of sale, or the minimum balance of those programs.

These zonal limitations will be communicated by the corresponding System Operator prior to the opening of the first session of the intraday market, and may be updated prior to the opening of each session. Intra-day market.

In case of non-compliance with zonal limitations, the outcome of the appeal process will be approximated to compliance with these limitations, in compliance with the other conditions of execution of the algorithm. In the event of inavailability of production units or of a pumping acquisition unit, such units shall be exempt from the limitation of the amount of unavailable energy.

39.3.3 Definition and incorporation of information on commercial capabilities of International Interconnections: Information about import and export capabilities sent by System Operators to the system Market Operator information shall be made through the Market Operator and shall contain the information on maximum import and export capacity at the border, in each hour, with each of the interconnections of the Spanish electricity system having a maximum limitation. As a result, the Market Operator will consider that all interconnections and sense of flow not included in the last information received from the System Operators will have zero value.

Capacity information will be incorporated into the Market Operator's information system at the time of receipt in the Market Operator's information system, with the time limit for incorporation into effect On the intraday market the closing time for the receipt of tenders to the intra-day market session.

39.3.4 Definition and incorporation of information on the allocation of capacity rights: Information on the allocation of physical rights of capacity in the interconnection with the French electricity system sent by the Operator of the Spanish System, the information system of the Market Operator, will be carried out through this and will contain the information on the allocation of physical rights of capacity, in each hour of the programming horizon, in each of the units of sale or acquisition with allocation of capacity rights. As a result, the Market Operator will consider that all sales or acquisition units not included in the latest information received from the Spanish System Operator have no allocation of capacity rights.

Capacity rights allocation information will be incorporated into the Market Operator's information system at the time of receipt in the Market Operator's information system, with the time limit of incorporation for the purposes of validation of offers and consideration in the process of cross-appeal on the intraday market, the closing time for the receipt of tenders to the intraday market session.

39.4 Verification of offers.

The sales and acquisition offers will be verified by the Market Operator as a precondition to their subsequent possible acceptance, according to the following:

39.4.1 Verifications common to sales and acquisition offerings.

39.4.1.1 Session status verification. The Market Operator will verify at the time of receipt of the offer in its computer system, according to the time of reception available in said computer system, that this time of reception is after the opening of the session in the case from the intra-day market and prior to the end of the offer acceptance period. In case of submission of offers per file, if this has started to be received in the system of information of Market Operator before the time limit of receipt of offers and the format of the file is correct, the process of validation of all the offers included in that file considering for the control effects of the time limit of submission of bids the time of the start of receipt of the file, inserting each offer with the result of the validation with the date and validation completion time.

39.4.1.2 Agent Verifications: The Market Operator will check, at the time of submission of the offer that the agent:

-You are discharged into the Market Operator system, being a market agent and not suspended by System Operators as a System Subject.

-Is enabled to present offers for the sale or acquisition unit. All offers from the agent that offers offers for sales or acquisition units for which it is not enabled will be rejected.

-That the agent presenting the offer of sale or acquisition of electrical energy has participated in the corresponding session of the daily production market.

By way of derogation from the previous paragraph, the units of production physics which have communicated the unavailability to the Operator of the corresponding System, prior to the closing of the daily production market and that they have recovered their availability, may submit sales offers in the relevant session of the intraday market.

They may also submit offers of sale or purchase of electric power in the intraday market all market players who have previously communicated to the Operator of the corresponding System, the existence of a a bilateral sale or acquisition contract of electrical energy for the hours covered by the relevant intraday market session in which they participate, and such energy would have been programmed into the Operational Base Programme, without need to have previously participated in the relevant session of the daily market.

The units with capacity rights, for the integration into the intraday market of the rights acquired in the explicit intra-day auctions of capacity rights on the border with the French system.

39.4.1.3 Verification of the unit of sale or acquisition: The Market Operator shall check at the time of the presentation of the offer of sale or acquisition, that the facilities or supply points that make up the unit For sale or purchase, respectively, for which such offer is presented, they are discharged in the system of information of the Market Operator and authorized to offer in the programming periods for which the offer is presented.

The Market Operator shall check at the time of the sale or acquisition offer that the unit of sale or acquisition by which it presents an offer belongs to the agent.

39.4.1.4 Verification of the adequacy of the sales or acquisition offer data with the information contained in the market operator information system as to the condition of variation in the capacity of the market Production: The Market Operator shall check, at the time of the submission of the tender, that the maximum difference between the production of electrical energy which in the case of the intraday market may be accepted by that unit of sale in two consecutive hours, is less than or equal to the one that could supply the unit of sale at most, according to the data recorded in the Market Operator information system.

39.4.1.5 Verification of the adequacy of the offer data with the information available to the market operator sent by the System Operators: The Market Operator will check, prior to the possible acceptance of the , that the electric power offered respects the unit constraints corresponding to the unit of supply made available to the Market Operator by the System Operators at the beginning of the session, according to the Rule " Limitations to the possibility of offering " and the specific rules according to the type of verification offer maximum power to be offered in a programming period.

In the bid validation process, the zonal limitations associated with the drives will not be taken into account.

39.4.1.6 Verification of the adequacy of the offer with maximum energy condition: The Market Operator will verify at the time of the insertion of the offer that the offer with maximum power condition:

-Does not incorporate the load gradient condition.

-This is the only offer submitted for the unit of sale or acquisition.

39.4.1.7 Verification of the periods offered: The Market Operator will verify at the time of the insertion of the offer that the periods offered must be included in the appeal horizon of the market session intraday for which the offers are validated.

39.4.2 Verifications specific to sales offers.

39.4.2.1 Verification of price adequacy: The Market Operator will verify at the time of the insertion of the offer that:

-The energy prices expressed in the offers are not higher than the price maximums adopted for these purposes and recorded in the Market Operator information system.

-The tranches included in the sales offers in each hour must have strictly increasing prices with the tranche number. Empty intermediate sections are allowed within each hour, without price and without power, but not with zero energy.

-In the tenders for the transfer of energy referred to in Article 24.1 (a) of Royal Decree 661/2007 of 25 May 2007 either directly or through a special scheme production representative, the price of the energy offered is zero.

39.4.2.2 Verifications of the maximum energy to be offered in a programming period: The Market Operator will check the adequacy of the offer data with the information contained in the Operator's information system of the Market. The maximum energy to be offered in a programming period:

For a sale offer from a unit of sale presented to a session, it will validate that the energy offered in total for each hour in that offer, plus the program of the unit in the PHF of the previous session, or in the PDVD for the the first session of the intraday market, for sales units does not exceed any of the following:

-The maximum power of the drive in the Market Operator database.

-The maximum available energy considering the inavailabilities in force.

-Energy limited by unit limitations communicated by System Operators prior to the opening of the intraday market session.

-For sales units with the allocation of physical capacity with the French electricity system, the time value of such allocation sent by the Spanish System Operator to the Market Operator, before closing of the period of receipt of offers to the intraday market.

In case of exceeding the energy offered the maximum value in any of the hours, the offer will be rejected in full.

For an offer of sale of acquisition units, presented to an intraday market session will be validated that the program of the unit in the PHF of the previous session, or in the PDVD for the first session of the intraday market, less the energy offered in total for each hour in that offer, is higher than the minimum between the energy limited by the unit limitations communicated by the System Operators prior to the opening of the intraday market session or the Available energy considering the inavailabilities in force.

39.4.2.3 Verification of the adequacy of the minimum income condition data for the sales offers: The Market Operator will verify at the time of the insertion of the offer that the offer of sale does not incorporate the minimum income condition in the event that more than 50% of the energy has been offered at zero price.

39.4.3 Verifications specific to takeover bids.

39.4.3.1 Verification of price adequacy: The Market Operator will verify at the time of the insertion of the offer that:

-The energy prices expressed in the offers are not higher than the price maximums adopted for these purposes and recorded in the Market Operator information system.

-The tranches included in the takeover bids in each hour must have strictly decreasing prices with the tranche number. Empty intermediate sections are allowed within each hour, without price and without power, but not with zero energy.

39.4.3.2 Verifications of the maximum energy to be offered in a programming period: For an acquisition offer of a unit of acquisition presented to a session, it will be validated that the energy offered in total for each hour in that offer, plus the program of the unit in the PHF of the previous session, or in the PDVD for the first session of the intraday market, for units of acquisition does not exceed any of the following values:

-The maximum power of the drive in the Market Operator database.

-The maximum available energy considering the inavailabilities in force.

-Energy limited by unit limitations communicated by System Operators prior to the opening of the intraday market session.

-For the acquisition units with the allocation of physical capacity with the French electricity system, the time value of the allocation sent by the Spanish Operator of the System to the Market Operator, before the closure of the period of receipt of offers to the intra-day market.

In case of exceeding the energy offered the maximum value in any of the hours, the offer will be rejected in full.

For an acquisition offer of sales units, presented to an intraday market session will be validated that the program of the unit in the PHF of the previous session, or in the PDVD for the first session of the intraday market, less the energy offered in total for each hour in that offer, is greater than the minimum between the energy limited by the unit limitations communicated by the System Operators prior to the opening of the intraday market session, or the Available energy considering the inavailabilities in force.

39.4.3.3 Verification of the adequacy of the maximum payment condition data for takeover bids: The Market Operator will verify at the time of the bid insert that the takeover bid is not incorporates the maximum payment condition in the event that more than 50% of the energy has been offered at the instrumental price.

39.4.3.4 verification of the guarantee compliance: The Market Operator will verify at the time of the insertion of the offer that the agent to be liquidated said offer unit has sufficient guarantees to the purchase offer, based on the simple price schedule including applicable taxes and fees.

The agent to be liquidated the offering unit will be unique except in the following two cases, which will act as follows:

1. The offer unit is shared ownership, or it groups shared ownership units all of them in the same percentage between different agents represented on behalf and for others. In this case each of the operators must have sufficient guarantees to support the percentage of the offer to purchase their ownership.

2. The unit of offer is of representation of units of different agents in name and for account of others with different percentages of property. In this case each of the agents must have sufficient guarantees to support the full purchase offer.

The value of the offer will be compared with the balance of surplus guarantees of the corresponding agents on the day to which the offer applies, with the best information available at the time of the insertion of bids. The offer will be accepted on a provisional basis, but the agent responsible for the offer unit will be informed of the outcome of this verification.

The offer will be validated again with the balance of surplus guarantees on the day to which the offer applies, with the best information available at the time of closing of the receipt of tenders, based on the simple price schedule offered, not incorporating the appeal process if one of the agents does not have sufficient guarantees.

For each acquisition offer incorporated in the appeal process, a reduction in the balance sheet of surplus securities of the relevant agents will be noted for the applicable value of such an offer as appropriate. Once the settlement is completed, the results of the billing will be listed instead.

39.5 Acceptance of Sales and Acquisition Offerings.

Valid sales or acquisition offers submitted by each unit of sale or acquisition will be firm at the time of the end of the offer acceptance period.

39.6 Effects of inclusion in the appeal of bids.

The participating agent in the intraday market must accept the result of the appeal in the terms set forth in these Rules.

Rule 40. Intraday Market Appeal Procedure.

40.1 Basic elements of the appeal procedure on the intraday market.

The Market Operator will make the appeal of the bids for the acquisition and sale of electricity by means of the simple appeal method, which is the one that independently obtains the marginal price, as well as the the volume of electrical energy that is accepted for each buyer and seller for each programming period. Such a simple appeal shall be adapted by means of the mathematical algorithms necessary to include in the procedure the possibility of making complex offers.

Only the characteristics of the complex offers referred to in these Rules shall be included in the matching algorithm. For the purposes of these Rules of Operation of the Market, it is understood by an algorithm of appeal to the ordered set and finite of mathematical operations that allows to obtain in each programming period the marginal price. This price corresponds to the cut-off point of the aggregate sales and purchase curves, except as indicated in the rule in which the conditions of appeal are specified for the case of market separation.

An appeal may be made by means of a simple procedure or a complex procedure when simple and complex tenders are submitted, in accordance with the provisions of this Rule. In any event, the criteria for the allocation of electricity for sale or purchase and for the fixing of the marginal price in cases of indetermination shall be common for simple and complex appeals procedures.

40.2 Simple appeal procedure.

The Market Operator will obtain the marginal prices for each of the programming periods of the same programming horizon, and will perform the distribution of the electric power offered in each programming period between offers for sale and purchase by means of a simple appeal consisting of the following transactions:

(a) Determination of the supply curve for the aggregate sale of electrical energy by adding, in ascending order, the quantities of electrical energy corresponding to the energy sales offers, irrespective of the unit of sale or acquisition to which they correspond.

(b) Determination of the aggregate power acquisition curve by adding in descending order of price, the amounts of electrical energy corresponding to the energy acquisition bids, irrespective of the unit of sale or acquisition to which they correspond.

(c) Determination of the crossing point of the aggregate sales and acquisition supply curves for each programming period of the marginal price, corresponding to the cut-off point of the aggregate sales curves and purchase, except as indicated in the rule in which the conditions of appeal are specified for the case of market separation.

d) Allocation to each seller, for each offer of sale of electrical energy which has been submitted in the same programming period, of the electrical energy which is the subject of the offer, provided that the price of such offer of sale is less than or equal to the marginal price of electricity for that programming period and sufficient electricity is required at that price.

e) Allocation to each buyer, for each offer of purchase of electrical energy that has been presented in the same programming period, of the electrical energy to be acquired during that programming period, provided that the price of such an acquisition offer is higher than or equal to the marginal price of electricity for that programming period, and there is an offer of sale of sufficient electric power offered at that price.

(f) Being the aggregate curves of sale and acquisition of electric energy curves discrete by steps, the crossing of the same can originate, within some or some programming periods of the same horizon of programming, an indetermination in the distribution of electricity, which may correspond to certain offers for the purchase or sale of such electrical energy. In this case, and where the crossing of the aggregate supply and demand curves for electricity takes place in a horizontal section of either of them or both, the Market Operator shall proceed as follows:

-In the event of excess supply of electricity sales, this excess will be deducted proportionally from the quantities of energy that appear in the sales offers of the sellers whose price matches the marginal price of the programming period concerned.

-In the case of excess takeover bid, this excess will be deducted proportionally from the amounts of energy incorporated in those takeover bids from buyers whose price matches the marginal price of the programming period in question.

In order to avoid any intakes due to rounding after the application of the energy deductions in case of excess supply or demand at marginal price, the following procedure shall apply:

1. Initially, the total power allocated after the cast that does not correspond to an integer value of the first decimal will be truncated to the lower integer value of that decimal.

2. The following is assessed in the case of the depopulation D, produced (in contrast to the total of the accepted demand in case the distribution affects the sales offers or the total of the offer allocated in case the distribution affects offers of purchase). The value of the neglect indicates the number of offers that must increase their allocation by 0.1 MWh during the programming period to correct the neglect.

3. Finally, the accepted energy is increased by 0.1 MWh to a number D of offers that entered the partition, choosing first those that were left with a higher residual value after the truncation to the lower integer value of the first decimal. On the basis of equality of value, tenders with the highest allocated energy will be chosen. In the case of new equality, tenders which have been submitted in advance shall be chosen.

g) If at the point of intersection of the aggregate acquisition and sales curves, the prices of the last accepted energy unit of sale and acquisition do not coincide (which is equivalent to the aggregate sales curves The market operator will apply the same criterion used in the daily market, and a different criterion for the market may be adopted. Intraday if experience so advises.

40.3 Appeal procedure when simple and complex sales and acquisition offers are available.

If simple and complex bids for the acquisition and sale of electricity in the same programming horizon are present, the Market Operator will incorporate in the appeal process the conditions which integrate these complex offerings as outlined in the following sections.

40.3.1 Search for a valid first solution: This search is intended to find a solution that determines the marginal prices for the programming periods of the programming horizon and an allocation of electricity to each of the units of sale and acquisition which have submitted bids for the purchase and sale of electricity in the programming period concerned, and which meets the conditions under the complex offers for the intraday market.

For this purpose the Market Operator shall apply the simple appeal method described in the above clause, which shall be incorporated as a condition for obtaining a solution that complies with the load gradient condition. This method shall be referred to as a simple conditional appeal.

To incorporate the treatment of the conditions derived from the complex offerings in the search for the first valid solution, the process will comprise the following steps:

1. All bids that have been presented in the intraday market session are selected.

2. A simple appeal is made with all the selected offers, incorporating the load gradient restriction and the full acceptance condition in each hour of the first leg.

3. It is checked whether all the offers assigned in the simple appeal fulfil the full acceptance condition of the first tranche.

4. All offers that do not comply with that condition are selected and are ordered as set out in the "Condition of full acceptance of the first tranche" rule, the last offer being withdrawn from the appeal. With the remaining set of offerings, step 2 is repeated.

5. Where all accepted tenders have been found to satisfy the full acceptance condition of the first tranche, steps 2 to 4 of the process are repeated with the minimum conditions number of consecutive hours of complete acceptance of the tranche first maximum power and minimum income/maximum payments, successively.

40.3.1.1 Check the load gradient condition during the conditional simple matching process.

40.3.1.1.1 General criteria: The load gradient condition is intended to limit the allocation of the load volume corresponding to an offer to purchase or sell a unit of sale or acquisition when the power variation between two consecutive programming periods exceeds the value declared in the offering.

For the purposes of this rule it is called the aggregate energy of a unit of sale or acquisition to the sum of the energies assigned under the viable daily program and intraday markets prior to the current session of the said market. the energy allocated in the appeal process of the current session of the intra-day market.

Also for the purposes of this rule, it is called:

-Maximum power: the lowest between the maximum power in the Market Operator information system, the maximum available power and the maximum power limited by the System Operators per criteria security.

-Minimum power: the highest among the minimum power in the Market Operator information system, and the minimum power limited by the System Operators per security criteria.

The fundamental criteria that are applied in the gradient condition check are as follows:

-The gradient declaration is optional. If no value is declared or a value equal to zero (0) is declared, then the offer does not incorporate this condition.

-Two sets of gradients may be used for each unit of sale, boot/upload and stop/drop when the unit increases/reduces its program in two consecutive periods.

-Increasing or reducing power for each hour will always be considered linear.

-The condition check will be performed first by analyzing each of the programming periods in the direct sense (i.e., checking each programming period based on the data corresponding to the previous programming period) and second in reverse (i.e. checking each programming period according to the data for the subsequent programming period).

-During the verification of the gradient condition no power allocation made previously in the daily market is modified, but only the bids that are presented in the intraday market session.

-In any case the Market Operator will assign to the holder of a sales unit that incorporates the sales or acquisition offers the condition of the gradient, a quantity of energy less than that expressed in an offer of acquisition or sale, which would have been the responsibility of not having incorporated such a condition.

40.3.1.1.2 Procedure: Following the criteria set out in the preceding paragraphs, to check the gradient condition, the Market Operator will follow the following procedure:

a) Checking the gradient condition in a clockwise direction. (Direct)

-First of all, the first hour of the horizon is made using all the offers presented by each unit, from which the total hourly values of energy are obtained for each unit at time 1 (E₁). The power allocated in the previous dispatch has already been accounted for in these values.

-Then the maximum (EM₁) and minimum (EN₁) power values are calculated for each drive in time 1. For this first hour, EM₁ takes the maximum power value for the drive at time 1, and EN₁ takes the value of the minimum power.

-Each unit is checked if E₁ is among the values obtained for EM₁ and EN₁. If not, it is checked if this problem can be fixed based on limiting the offers married to the unit. This is:

* If E₁ is greater than EM₁, it is checked whether "upload" offers (from acquisition or sale) to the unit are accepted. If so, these offers are limited so that, considering that they will be married the same offers "to go down" (buy back or resale) at that time, the new value of E₁ cannot exceed EM₁.

* If E₁ is less than EN₁, it is checked whether the sales or acquisition offers have been accepted by the algorithm for purchase or sale units respectively. If so, these offers are limited so that, considering that the same offers of sale or acquisition are to be married for units of sale or acquisition respectively, at that time, the new value of E₁ cannot be less than EN₁.

The way to perform such limitations on a unit's offers will be starting with the most expensive, in the case of sales, and starting with the cheapest ones, in the acquisition cases.

If any units have been limited, the appeal is repeated at that time and the previous restrictions are rechecked. If new limitations are required, these are added to those that would already have been imposed on previous casings of the same time.

If no limitations have been made (either due to compliance with gradient restrictions for all the units, or because of the impossibility of solving the default), the analysis of the zonal limitations is continued. existing.

To do this, it will be examined whether, with the energies married at that moment, all the zonal limitations are fulfilled. Otherwise, all units involved in the different limitations that are not met will be selected and will be limited to one until all zonal limitations are met.

The way to impose those limitations on the offers of the units involved will be starting with the most expensive offer blocks, in the sales cases, and starting with the cheapest ones, in the acquisition cases.

Between sales and acquisition offers that affect a zonal limitation, the block that is closest to the crossing of the aggregate acquisition and sales curves will be removed first.

Once a block of an offer is detected that causes a violation of a zonal constraint, its energy will be limited to the amount necessary to enforce the zonal limitation or limitations in which the unit was involved. Energy will not be limited in those blocks of takeover bids that will help to meet unavailability. The process will continue to analyze both curves until there are no zonal limitations that are not met or until there are no more units of units involved to examine.

Then, the individual limitations will be rechecked, the process described until either all individual and zonal limitations have been resolved or until there are no more block of drives. involved in limitations that are not met.

Once you get to this point, the time is temporarily appealed for temporarily.

-Once in this situation, and for all units that have declared gradients, the maximum and minimum power values are calculated at the end of time 1, as follows:

* If the power allocated at time 1 (E₁) is less than the technical minimum, the drive is assumed to be running, and is chosen as the ascending gradient (g_to) the gradient of boot, and as a descending gradient (g_d) the stop. In another case, you choose how g_a the upload gradient and how g_d the download gradient.

* With the chosen gradients, the maximum and minimum power values are obtained at the start of time 1 (PM₀ and PN₀) and at the end of time 1 (PM₁ and PN₁) assuming maximum linear slopes that enforce the E₁ power value obtained, this is:

PN₀ = E₁ -g_a * 30 PM₁ = E₁ + g_a * 30

PM₀ = E₁ + g_d * 30 PN₁ = E₁ -g_d * 30

* If PN₀ is less than the minimum or PM₁ exceeds the maximum power value of the unit of sale at time 1, the pending maximum is reduced to allow both values to be feasible. Similarly, the PM₀ and PN₁values are checked and recalculated, if necessary. The maximum and minimum values at the end of time 1 (PM₁ and PN₁) are stored for use back.

-Then, the appeal is made for hour 2, obtaining for each drive an E₂ value of the final power allocated at time 2.

-Then the maximum (EM₂) and minimum (EN₂) power values are calculated for each drive in time 2, as follows:

* If the drive has not declared gradients, EM₂ takes the maximum power value for the drive at time 2, and ON₂ takes the value of the minimum power.

* If the drive has declared gradients, the maximum power (PM₂) and minimum (PN₂) values are calculated at the end of time 2, as follows:

• To calculate PM₂, the ascending gradient value (g_a) is selected to be used. If the maximum power value at the end of time 1 (PM₁) is strictly less than the technical minimum declared by the drive, the declared boot gradient is selected, otherwise the upload gradient is selected.

• With the selected gradient value (g_a) you calculate PM₂= PM₁+ g_a* 60. If PM₂ exceeds the maximum power for the drive at time 2, then the maximum power is taken as the new PM value₂.

• Analogely, to calculate PN₂, a descending gradient value (g_d) is selected. If from the PN value₁ a value less than the technical minimum can be reached at the end of time 2 with the gradient of descent (that is, if PN₁ -g_d * 60 < MT) then the stop gradient is chosen. Otherwise the download is chosen.

• With the gradient value selected, PN₂ = PN₁ -g_d * 60 is calculated. If PN₂ is less than the minimum power value for that drive in time 2, then that value is taken as the new PN value₂.

Once obtained PM₂ and PN₂, EM₂ is calculated as the mean value of PM₁ and PM₂, and EN₂ as the mean value of PN₁ and PN₂.

-Each unit is checked if E₂ is among the values obtained for EM₂ and EN₂. If not, it is checked if this problem can be fixed based on limit the married offers to the unit, in the same way as the one explained for 1 hour. Any limitations that are required are made, and time 2 is remarried until further limitations are necessary or possible.

-Then it will be examined whether, with the energies married at that time, all the zonal limitations are fulfilled. Otherwise, all the units involved in the different limitations that are not met will be selected and will be limited to one until all the zonal limitations are met, operating in the same way as is done in the hour 1.

-With the E₁ and E₂ values obtained for each drive that has declared gradients, a single power value is calculated at the end of time 2 (P₂)

• In case the gradient constraint has been met (that is, E₂ is between EM₂ and EN₂), it will be about assigning an ascending or descending regime continued for the two hours. The formula for P₂ will be:

P₂ = E₁ + (E₂ -E₁) * 3/2

If the value of P₂ obtained exceeds the maximum of the drive for time 2, P₂ takes the value of this maximum. Similarly, if P₂ is less than the minimum of the drive at time 2, P₂ is given the value of that minimum.

• In another case, if E₂ is greater than EM₂, the maximum value between E₂ and PM₂will be taken as P₂ , and if E₂ is less than EN₂, P₂ will take the minimum between E₂ and PN₂.

-The following time (h) is then done in the same way, without any gradient constraints being taken into account. With the energy values obtained (E_h), it is passed to verify whether each unit meets the gradient constraints from the previous hour. To do this, the energy limits (EM_h) and lower (EN_h) are evaluated within which each unit can meet its limits. These values are calculated as follows:

* If the drive has not declared gradients, EM_h takes the maximum power value for the drive in hour h, and EN_h takes the value of the minimum power.

* If the drive has declared gradients, the maximum power (PM_h) and minimum (PN_h) values are calculated at the end of the hour h, as follows:

• To calculate PM_h, the ascending gradient value (g) is selected to be used. If the power value at the end of the previous hour (P_h-1) is strictly less than the technical minimum declared by the drive, the declared boot gradient is selected, otherwise the upload gradient is selected.

• With the selected gradient value (g) you calculate PM_h = P_h-1 + g * 60. If PM_h exceeds the maximum power for the drive in hour h, the maximum is taken as the new PM_hvalue.

• Analogely, to calculate PN_h, a descending gradient (g) value is selected. If the value of P_h-1 can be reached a value less than the technical minimum at the end of the hour h with the gradient of descent (i.e., if P_h-1 -g_b * 60 < MT) then the stop gradient is chosen. Otherwise the download is chosen.

• With the selected gradient value, PN_h = P_h-1 -g * 60 is calculated. If PN_h is less than the minimum power value for that drive in hour h, then that value is taken as the new PN_hvalue.

Once obtained PM_h and PN_h, EM_h is calculated as the mean value of P_h-1 and PM_h, and EN_h as the mean value of P_h-1 and PN_h.

-With the EM_h and EN_h values, it is passed to verify the compliance of the gradient constraints at that time in the same way as the explained for the first hour. If necessary (if any new limitations have been imposed on any unit), a new appeal is made and the verifications are repeated.

-Then it will be examined whether, with the energies married at that time, all the zonal limitations are fulfilled. Otherwise, all the units involved in the different limitations that are not met will be selected and will be limited to one until all the zonal limitations are met, operating in the same way as is done in the hour 1.

-Once an appeal has been obtained for hour h, which does not force new constraints to be imposed on offers, the new power values are obtained in hour h for each unit (E_h). The power value at the end of hour h (P_h) is obtained as follows:

* If P_h-1 is greater than or equal to E_h-1 and E_h is greater than P_h-1 (this is, an upward trend is followed from the previous hour), P_h = P_h-1 + 2 * (E_h - P_h-1).

* If P_h-1 is less than or equal to E_h-1 and E_h is less than P_h-1 (this is, a downward trend is followed from the previous hour), you get P_h = P_h-1 -2 * (P_h-1 - E_h).

* In another case, the P_h power level is set with the E_hvalue.

* In cases where it has not been possible to enforce the gradient constraint by the inability to achieve the E_h power value from P_h-1, if E_h is greater than EM_h, will be taken as P_h the maximum value between E_h and PM_h, and if E_h is less than EN_h, P_h will take the minimum between E_h and PN_h

-This process continues until the last hour of the session horizon.

b) Checking the gradient conditions to the contrary to the schedule. (Reverse).

Next, the time-in-time gradient check is performed, starting from the last hour of the horizon to the first, analogous:

-The energy values (E_n) obtained for the last hour of the horizon (n) are definitely given by valid.

-For all units that have declared gradients, the maximum and minimum power values are calculated at the start of the time n, as follows:

* If E_n is less than the technical minimum, it is chosen as the ascending gradient (g_a) the boot gradient, and as a descending gradient (g_d) the stop gradient. In another case, you choose how g_a the upload gradient and how g_d the download gradient.

* With the chosen gradients, the maximum and minimum power values are obtained at the start of the time n (PM_n-1 and PN_n-1) and at the end of the time n (PM_n and PN_n) assuming maximum linear slopes that enforce the E_n power value obtained, this is:

PN_n-1 = E_n - g_a * 30 PM_n = E_n + g_a * 30

PM_n-1 = E_n + g_d * 30 PN_n = E_n - g_d * 30

* If PN_n-1 is less than the minimum or PM_n exceeds the maximum power value of the unit of sale in the time n, the pending is reduced to the maximum that allows both values to be feasible. Similarly, the PM_n-1 and PN_nvalues are checked and recalculated, if necessary. The maximum and minimum values at the start of time n (PM_n-1 and PN_n-1) are stored for Subsequent use.

-The appeal is followed for the penultimate hour (n-1), obtaining for each unit an E_n-1 value of the final energy allocated at that time.

-Then the maximum (EM_n-1) and minimum (EN_n-1) power values are calculated for each drive in the n-1hour, as follows:

* If the drive has not declared gradients, EM_n-1 takes the maximum power value for the drive at time n-1, and EN_n-1 takes the value of the minimum power.

* If the drive has declared gradients, the maximum power (PM_n-2) and minimum (PN_n-2) values are calculated at the start of the n-1 hour, as follows:

• To calculate PM_n-2, the descending gradient value (g_d) is selected to be used. If the maximum power value at the end of time n-1 (PM_n-1) is strictly less than the minimum technical declared by the drive, the declared stop gradient is selected, otherwise the gradient of download.

• With the selected gradient value (g_d) calculated PM_n-2 = PM_n-1 + g_d * 60. If PM_n-2 exceeds the maximum power for the drive at the time n-1, the maximum is taken with muevo value of PM_n-2.

• Analogely, to calculate PN_n-2, an ascending gradient value is selected (g_a). If from the PN_n-1 value, a value less than the technical minimum can be reached at the start of the n-1 time with the boot gradient (that is, if PN_n-2 - g_a * 60 < MT) then the boot gradient is chosen. Otherwise the upload is chosen.

• With the selected gradient value, PN_n-2 = PN_n-1 - g_a * 60 is calculated. If PN_n-2 is less than the minimum power value for that drive in the time n-1, then that value is taken as the new PN_n-2value.

Once obtained PM_n-2 and PN_n-2, EM_n-1 is calculated as the mean value of PM_n-1 and PM_n-2, and EN_n-1 as the value PN_n-1 and PN_n-2. If EM_n-1 exceeds the value obtained in the one-way process, the old value of EM_n-1is taken, and if EN_n-1 is less than the value obtained in the first-round process, the old value of ON_n-1.

-Each unit is checked if E_n-1 is among the values obtained for EM_n-1 and EN_n-1. If not, it is checked if this problem can be fixed based on limit the married offers to the unit, in the same way as the one explained for 1 hour. Any limitations that are required are made, and the n-1 time is remarried until further limitations are not required.

-Then it will be examined whether, with the energies married at that time, all the zonal limitations are fulfilled. Otherwise, all the units involved in the different limitations that are not met will be selected and will be limited to one until all the zonal limitations are met, operating in the same way as is done in the hour 1.

-With the E_n and E_n-1 values obtained for each unit of sale that has declared gradients, a single power value is calculated at the start of the n-1 time (P_n-2)

* In case the gradient constraint has been met (that is, E_n-1 is between EM_n-1 and EN_n-1) it will be a continuous ascending or descending regime during the two hours. The formula for P_n-2 will be:

P _n-2 = E _n + (E _n-1 -E _n ) * 3/2

If the P_n-2 value obtained exceeds the maximum of the drive for the n-1time, P_n-2 takes the value of this maximum. Similarly, if P_n-2 is less than the minimum of the drive in the time n-1, the P_n-2 is given the value of that minimum.

* In another case, if E_n-1 is greater than EM_n-1, the maximum value between E_n-1 and PM_n-1is taken as P_n-2 , and if E_n-1 is less than EN_n-1, P_n-2 will take the minimum between E_n-1 and PN_n-1.

-Then the check is performed and, if necessary, new cassation of the previous hours. For each of them (h), the power limits (EM_h) and lower (EN_h) of energy are evaluated within which each unit can meet its limits at the time h from the value assigned in the time h + 1. These values are calculated as follows:

* If the drive has not declared gradients, EM_h takes the maximum power value for the drive at the time h, and EN_h takes the value of the minimum power.

* If the drive has declared gradients, the maximum power values (PM_h-1) and minimum (PN_h-1) are calculated at the start of the hhour, as follows:

• To calculate PM_h-1, the descending gradient value (g) is selected to be used. If the power value at the end of the hour h (P_h) is strictly less than the technical minimum declared by the drive, the stop gradient declared by the drive is selected, otherwise the gradient of download.

• With the selected gradient value (g) calculated PM_h-1 = P_h + g * 60. If PM_h-1 exceeds the maximum power for the drive in the time h, then the maximum is taken with muevo value of PM_h-1.

• Analogely, to calculate PN_h-1, an ascending gradient value (g) is selected. If from the P_h value you can get a value less than the technical minimum at the end of the h-1 time with the boot gradient (that is, if P_h - g_a * 60 < MT) then The boot gradient is chosen. Otherwise the upload is chosen.

• With the selected gradient value, PN_h-1 = P_h - g * 60 is calculated. If PN_h-1 is less than the minimum power value for that drive in the hhour, that value is taken as the new PN_hvalue.

Once obtained PM_h-1 and PN_h-1, EM_h is calculated as the mean value of P_h and PM_h-1, and EN_h as the mean value of P_h and PN_h-1. If EM_h exceeds the value obtained in the one-way process, the old EM_hvalue is taken, and if EN_h is less than the value obtained in the process First, the old value of EN_his taken.

-With the EM_h and EN_h values, it is passed to verify the compliance of the gradient constraints at that time in the same way as the one explained for in the one-way process. If necessary (if any new limitations have been imposed on any unit), a new appeal is made and the verifications are repeated.

-Then it will be examined whether, with the energies married at that time, all the zonal limitations are fulfilled. Otherwise, all the units involved in the different limitations that are not met will be selected and will be limited to one until all the zonal limitations are met, operating in the same way as is done in the hour 1.

-Once an appeal has been obtained for the hhour, which does not force new constraints to be imposed on offers, the new power values are obtained in the h hour for each unit (E_h). The power value at the start of the h time (P_h-1) is obtained as follows:

* If P_h is greater than or equal to E_{h + 1} and E_h is greater than P_h (this is, a downward trend is followed towards the next hour), it is obtained P_h-1 = P_h + 2 * (E_h - P_h).

* If P_h is less than or equal to E_{h + 1} and E_h is less than P_h (this is, an upward trend is followed from the previous hour), it is obtained P_h-1 = P_h -2 * (P_h - E_h).

* In another case, the P_h-1 power level is set with the E_hvalue.

* In cases where it has not been possible to enforce the gradient constraint by the inability to achieve the E_h power value from P_h, if E_h is greater than EM_h, will be taken as P_h-1 the maximum value between E_h and PM_h, and if E_h is less than EN_h, P_h-1 will take the minimum between E_h and PN_h

-This process continues until the first hour of the session horizon.

40.3.1.2 Full acceptance condition of the first tranche: For each offer that has incorporated this condition, it will be verified that the result of the appeal, includes the allocation of all the energy of the first tranche of offer.

Within the search process for the first valid solution, offers that do not meet this condition will be ordered from largest to lowest according to the percentage of total energy accepted for the entire programming horizon over the energy total corresponding to the first tranche of the growing offer. In the case of equality of that percentage, the tenders which have a higher amount of energy allocated shall be given priority. In the event of equality of the latter value, the tenders that have been received before in the Market Operator information system shall be given priority.

By following the order above and starting with the lowest percentage offer, the offers that do not meet the condition will be removed until all the offers in the solution are verified.

40.3.1.3 Minimum condition number of consecutive hours with all the energy of the first tranche married: For each offer that has incorporated this condition, it will be determined that the result of the appeal at the time of the checking, includes consecutive series of hours with all the energy accepted at the first tranche of that offer, with length greater than or equal to the specified minimum consecutive hours value.

Within the search process for the first valid solution, offers that do not meet this condition will be ordered from less to greater according to the number of consecutive hours specified in the offering. In the case of equal number of hours, priority shall be given to offers which have a higher amount of energy allocated. In case of equality of this value, the tenders that have been received before in the Market Operator information system shall be given priority.

Following the above order and starting with the highest number of hours offer, the offers that do not meet the condition will be removed until all offers in the solution are verified.

40.3.1.4 Maximum allowable energy condition per offer.

40.3.1.4.1 General criteria: For each offer that has incorporated this condition, the algorithm shall ensure that the total energy allocated to the unit of sale or acquisition in the offer in question does not exceed in any case the maximum power limit introduced by the agent.

The algorithm will assign power to the unit of sale or acquisition according to its offer, period-to-period, starting with the first of the appeal horizon. At the time when the energy allocated in any period, in addition to that of the previous period, exceeds the maximum quantity indicated, the energy allocated in the period in question shall be limited to the quantity that meets the total energy value. allocated to the offer in the periods analysed so far, is equal to the maximum permissible.

40.3.1.4.2 Procedure: At the beginning of the method of appeal, each offer will be given a null value of total allocated energy (E_tot = 0).

During the direct-felt-hours process, before the hour-hour appeal is performed, it will be verified if the total energy offered for that hour (EO_h) added to E_tot exceeds the maximum energy specified for the offer (EM). That is, if E_tot + EO_h > EM, the unit offer will be limited in hour h to a maximum of EM-E_tot. Then the appeal is performed at hour h, obtaining an energy E_h value accepted to the unit in that hour. The value of E_tot is updated by adding the new value E_h.

During the hour-in-reverse appeal process, before the hour-hour appeal is performed, it will be verified if the total energy offered for that hour (EO_h) added to the total allocated in the rest of the hours (E_tot -E_h) exceeds the maximum power specified for the offering (EM). That is, if E_tot + EO_h -E_h > EM, the unit offer will be limited in hour h to a maximum of EM-E_tot + E_h. Then the appeal is made in hour h, obtaining a new Eh value of energy accepted to the unit at the time. The value of E_tot is updated by subtracting the previous E_h value and sending it the new value E_h.

40.3.1.5 Joint treatment of minimum income conditions and maximum payments: For each tender, the result of the appeal shall be verified at the time of the verification of the minimum income conditions or maximum payments do not include sales offers that breach the condition of minimum income or takeover bids that breach the maximum payment condition.

An offer of sale is considered not to meet its minimum income condition, if the value of the expression TFI + TVI * Etot, representing the minimum income requested by the offer, (where TFI and TVI are respectively the fixed and variable terms of its minimum income condition and Etot is the sum of the energies accepted to the offer of sale along the programming horizon) exceeds the sum of terms Eh * Ph for all the hours of the horizon of programming (being the energy accepted to the unit for hour h, and Ph the marginal price at that time) representing the revenue from the sale of energy allocated over the above programming horizon.

An acquisition offer is considered not to meet its maximum payment condition, if the value of the TFP + TVP * Etot expression representing the maximum payments requested by the offer, (where TFP and TVP are respectively the fixed and variable terms of its maximum payments condition and Etot is the sum of the accepted energies to the offer along the programming horizon) is less than the sum of terms Eh * Ph for all hours of the programming horizon (being the energy accepted to the unit for hour h, and Ph the marginal price at that time) representing the payments that must be performed by the energy acquisition allocated over the programming horizon.

Sale offers that do not meet the minimum income condition will be removed from those included in the solution.

Acquisition offers that do not meet the maximum payment condition will remove those included in the solution.

40.3.1.6 Full acceptance condition in each hour of the tranche first: Before starting the treatment of the first full stretch condition per hour, the system has a solution in which there can be supply tranches partially accepted, either by distribution rules, by gradient limitation, or by maximum energy.

The procedure for checking the full first-leg condition will consist of verifying whether there is any partially accepted offer, which is marked as a first leg and where the check for that condition.

In the event that there is any tranche of offer under these conditions, the algorithm will cancel these tranches and repeat all steps of simple appeal, distribution, gradient verification and maximum energy.

The process will continue until there is no partially accepted offer first leg, whose overall offer has specified the first full stretch per hour condition.

40.3.2 Successive improvement of the first valid solution: Once a valid first solution has been found in which the offers included in it respect all the conditions that have been incorporated, a process of search for the final solution, defining as such, that for which all the tenders included in the cassation fulfil their complex conditions to the prices resulting from the appeal and there is no offer, among those excluded from the an appeal, which meets its complex conditions with the above mentioned prices. This process is called "expansion".

This search process has the objective that the sum of the margins of the acquisition and sale offers that have not been accepted and for which that margin is positive, is minimal or null according to the formulation that is develops later on. The margin of an offer to sell is the difference between the income you would obtain corresponding to the marginal price and the declared income/orders in your offer, either by means of the prices introduced (offer without minimum income condition) or by the minimum income condition (otherwise). The margin of an acquisition offer is the difference between the maximum amount to be met declared in its offer,-either by means of the prices introduced (offer without maximum payments condition) or by the maximum payment condition (in case of ), and payments for the marginal price.

An image appears in the original. See the official and authentic PDF document.

Where:

E (of, t, h): Energy of the tranche t of the offer of which was married in hour h at the price resulting from the appeal PM (h)

IMIN (of): One of two alternatives:

-Minimum income requested in the tender, in accordance with the energy that would have been married to the price resulting from the PM (h) appeal, for offers that have declared the condition of minimum income.

-Income that would have received the offer, according to the energies that would have been married to the price resulting from the appeal PM (h), to the prices included in the offer, otherwise.

PMAX (of): Maximum payment declared in the tender, in accordance with the energy that would have been married to the price resulting from the PM (h) appeal, for offers that have declared the maximum payment condition.

-Payment that would have made the offer, according to the energies that would have been married to the price resulting from the appeal PM (h), to the prices included in the offer, otherwise.

M (of): Bid margin.

For all offers whose entry margin M (of) is positive, the TMI variable will be calculated:

An image appears in the original. See the official and authentic PDF document.

Each time the Market Operator has married a combination of offers and is valid, it will check if the TMI of that combination is lower, higher than or equal to the TMI that exists for the best combination of sales offers. of known electrical energy.

* If the TMI is higher, the Market Operator will record the combination of offers as tested and valid.

* If the TMI is lower, the Market Operator will select the new combination of offerings as the best identified until that time.

* If the TMI is the same, the Market Operator will choose the combination that has a lower weighted average energy price. If equality persists, the combination that provides a higher average margin to the sales units will be chosen.

The process of finding the final solution will be limited in time, thirty (30) minutes and in number of iterations, three thousand (3,000), which the Market Operator will archive in its computer systems.

In case no solution is found in the process that meets the condition of being the final solution sought, the program will give a lower TM value as a solution. In the latter case the Market Operator will file the number of iterations in your computer system.

40.4 an appeal process where the net reference capacity of the exchange is exceeded in international interconnections.

Once the final interim solution has been obtained, without consideration of the maximum capacities in the international interconnections communicated by the System Operators prior to the closing of the market offers The interim final solution shall be calculated with interconnections.

The intra-day market appeal procedure is based on the existing market splitting mechanism between the energies offered in Portugal and Spain. In this sense, the process is constituted in two phases, the second being exclusively in the case of congestion in the Spanish-Portuguese interconnection (situation in which the separation of the markets itself is generated). ).

Phase 1: Home all energy offered in the intraday market as if there was no limitation in the Spanish-Portuguese interconnection (single market). All the energy blocks are introduced into the same sales and purchase curves, obtaining a single price for all the married energies.

Phase 2: In the event that there is a congestion in the Spanish-Portuguese interconnection in some hour, the market is divided into two zones (market separation), the energy being offered by the units located in Spain, France, Andorra and Morocco and the energy offered by the units located in Portugal in the Portuguese area, both of which take into account the energy flowing from one area to the other through the interconnection.

The following rules describe the complete simple and complex cassation process for both phases, phase 1 in single zone, and phase 2, in both zones, in case that phase 2 occurs.

In all the price references made in those rules it should be understood that they relate to the single market price in the case of phase 1 (there is no congestion in the interconnection and therefore no separation of markets), and the price corresponding to the area in which the unit, Portugal or Spain is located, in the case of phase 2 (the condition of separation of the markets has occurred).

40.4.1 Application: The Market Operator shall carry out the calculation of the final solution, which shall be considered provisional, when the following conditions are met:

-That the balance of energy resulting from the offers included in the final interim solution and the one committed in previous processes, exceeds for any of the international interconnections, in any of the periods of programming, the maximum or reference capacity established by the System Operators in any of the senses.

40.4.2 Predetermination of data to consider:

1. The Market Operator will obtain a solution in the appeal process, called the first interim final solution, considering an unlimited capacity for interconnections.

2. If, in the programming horizon, the conditions laid down in the previous rule "Apply" are given, the Market Operator will calculate for each of the international interconnections and programming period, the balance of the energy of the takeover and sale offers included in the final interim solution increased in the corresponding losses, with the consideration of the agreements of reciprocity communicated to the Market Operator by the Ministry of Industry, Energy and Tourism.

3. The Market Operator shall calculate the maximum capacity to be occupied by the balance determined in the previous paragraph, in all international interconnections, and in all programming periods. This maximum will be equal to the maximum capacity published by the System Operators, considering the programs committed in previous processes that affect the international interconnection. In case that balance has a negative value, it will be assigned a null value.

In the case of interconnection with the French electricity system, only the previous PHF programme, or the PDVD for the first session of the intraday market, shall be considered to be firm for the purposes of calculating the balance in the interconnection, of the units with capacity physical rights allocation.

40.4.3 Final Solution Determination Procedure: The Market Operator will perform the calculation of a new interim final solution with interconnections.

In the case of being the balance of energy flow married in the market in the first interim final solution, greater than the maximum balance allocated in the process described in the previous rule, for any of the interconnections with France, Andorra or Morocco, in some of the directions of flow and programming period, will continue the process of appeal by removing energies from the offers presented in the interconnection in the sense of flow in which there is excess, for the the corresponding programming period, until a result of the appeal is obtained in which the maximum energy balance values allocated to the set of market tenders or have been withdrawn from the appeal process all the energy offers presented in the sense of excess flow. This will be done as follows:

1. The energy of offers of sale or purchase of units with allocation of physical rights of capacity, shall be accepted in the process of cross-appeal of the intra-day market, provided that their offer price is lower, or higher, respectively, the marginal price resulting from the intra-day market, and this, irrespective of the other offers to the market which are intended to be carried out through the same interconnection and flow, being subject to its programming only to the existence of sufficient capacity for their individual performance.

2. The energy supply of the tranches corresponding to the programming period, in the interconnections and sense of flow in which excess flow exists, which have not been married in the first final solution, shall be withdrawn from the appeal process. provisional, except those for units with the allocation of physical rights of capacity which will continue to be considered in the appeal process. The withdrawn energies will not be considered in the following iterations of the process of appeal made in order to obtain a solution that meets the conditions of the offers and with the maximum exchange of balance energy of the offers market.

For the withdrawal of energy offers, the price of the lowest-priced married acquisition offer will be selected first for each programming period, which is in the sense of excess in any of the interconnections. international agreements with France, Andorra or Morocco, and the price of the highest selling offer will be selected, for each programming period, which is in the sense of excess in any of the international interconnections with France, Andorra or Morocco, without considering in both cases the offers of purchase or sale of the units with the allocation of physical capacity. Each programming period shall be calculated on the basis of the married energy of purchase offers at a price below the selected purchase price (C) and the married energy of sales offers at a price higher than the selected selling price (V). The value of the calculated energy, C or V, shall be started by acquisitions or sales in accordance with each programming period. In the case of equality in the value of such energy, C and V shall be started by acquisitions.

The value of energy to be withdrawn for each interconnection with France, Andorra or Morocco, will be the least among the excess in the interconnection and sense, and the value of the married energies at the same price in the selected interconnection and the sense in which excess exists, except for units with physical rights allocation of capacity.

-In the event that several offers are involved at the same price and different interconnection will be withdrawn simultaneously all the offers married at the same price regardless of the international interconnection with France, Andorra or Morocco, to which they correspond.

-If the energy corresponding to the offers of the units with the allocation of physical rights of capacity, they shall be exempt from the withdrawal of the appeal process.

-In the event of two or more offers of the same interconnection being involved from which energy can be removed at the same price and being the energy value of offers to withdraw less than the sum of the married energy of such offers, a pro rata pro rata shall be made to the energy married at that price of each of them.

-For the acquisition offers for the calculation of the value of the energy to be withdrawn from the market offers, the corresponding loss coefficient shall be considered.

Withdrawn offer energies will not participate in subsequent iterations of the algorithm performed to obtain a solution that meets the maximum balances across all international interconnections.

3. Once the energy offers have been withdrawn at the same price for each interconnection and meaning in which there is excess flow, the process of the cassation will be redone by checking again the maximum flow in each of the interconnections and periods. programming, in both directions of flow, repeating the process described.

In no case will it be possible to be withdrawn energies committed in markets or processes prior to the realization of the process of cross-appeal of the intra-day market.

4. In the event of excess in the balance of the energies married in the market in one of the periods of programming and interconnection with France, Andorra or Morocco, with respect to the calculated maximum, and not to exist any offer of energy in the sense the excess in the interconnection and the programming period in which excess exists except for the units with the allocation of physical rights of capacity, energy shall be withdrawn from the offers of the units with the allocation of physical rights of capacity if these are of the same sense of flow, programming period and interconnection, in which there is excess, up to the value required for there to be no excess, with the energy limit offered in the intraday market session.

As a result of the appeal process, considering the existence of the complex conditions of the tenders, the fact that there is free capacity or energy offered by the tenders can be exceptionally produced. units with the allocation of physical rights of unmarried capacity, the price being the result of an appeal higher or lower than the price offered in such contracts, depending on the units with the allocation of import capacity rights or export.

40.4.4 Market separation procedure when there is congestion in the Spanish-Portuguese interconnection: For the case of the Spanish-Portuguese interconnection, within the mechanism of separation of markets from the intraday market, In the event of an hour of congestion at the interconnection, the following shall be carried out:

The appeal process for the Spanish offer zone will be repeated in accordance with the Rule of "Procedure for determining the final solution" with the consideration of the export or import up to the maximum value (recital the occupation determined by previous programmes) with the Portuguese electrical system, as has been the sense of congestion. The appeal procedure will therefore be carried out in the light of all the valid tenders submitted except those for units of the Portuguese electricity system, plus an additional offer at an instrumental price. The additional offer will be of purchase at an instrumental purchase price in case of congestion in the sense of the Spanish system to the Portuguese system, and will be of sale at an instrumental sale price in case of congestion in the sense of the Portuguese system Spanish system. This additional offer will take precedence in the appeal process on the offer at an instrumental price.

The appeal process for the Portuguese area under the 'Implementing the appeal process' rule will be repeated with the consideration of the export or import up to the maximum value (considering the occupation determined by the previous programmes) with the Spanish electricity system, as it has been the sense of congestion. The appeal procedure will therefore be carried out in the light of all the valid tenders submitted for units of the Portuguese electricity system, plus an additional offer at an instrumental price. The additional offer will be for sale at an instrumental sale price in case of congestion in the sense of the Spanish system to the Portuguese system, and will be of purchase at an instrumental price of purchase in case of congestion in the sense of the Portuguese system to the system Spanish. This additional offer will take precedence in the appeal process on the offer at an instrumental price.

Rule 41. th Outcome of the Intraday Market.

41.1 Calculation of the incremental program result of the intraday market.

Once the tenders that enter the appeal process sent by the agents according to the Market Rules have been established, the Market Operator will perform the process of appeal obtaining the incremental program result of the intraday market.

41.2 Communication of disaggregations of the sales and conversion units to programming units of the system operators.

Market players with respect to the sales units with which they act on the market on behalf and on behalf of third parties, will send to the Market Operator, for the purposes of liquidations, the disaggregations of the result an incremental appeal for each of its sales units which are married in the process of the appeal of the intra-day markets.

The disaggregations of the sales units of the energies that have been married are reported either as energy sold or purchased by the sales unit.

1. Each agent, in the light of the result of the appeal, shall communicate to the Market Operator the expected disaggregations of the intraday market session, for each unit of sale that has more than one physical unit associated with it.

2. The files of the intended disaggregations will contain for each unit of sale the unbundling of each unit in physical units, in MWh with a maximum of one decimal place.

3. Disaggregations will be received for the result of the appeal before the time set in these rules.

4. Any disaggregations that are not received before the deadline, or the communication of which is not valid, shall be carried out in proportion to the maximum powers of the market operator's database.

5. In case of failure to communicate the agent the disaggregations valid before the established time, these will be calculated by the Market Operator as stable at the point of this rule, without the consideration of the installed power limits, power greater than zero, available or limited to each installation, being the agent responsible for the economic impact arising from the application of the default breakdowns applied by the absence of data, or by the erroneous communication of the data. The adjustment to the integer value will be performed according to the rounding rules.

However, in the case of a repeat of the appeal process, those disaggregations already sent by the agents that were valid at the time of their receipt and which remain valid with the the new result of the appeal. In another case, the agents must send the new disaggregations within the deadline that is established, proceeding according to the previous points.

41.3 Establishment of the order of economic precedence of the married bids in the result of the appeal.

The Market Operator will establish the order of precedence for married, partially married and unmarried bids, based on the energy tranches and their prices, without considering any complex condition of the offers. This order will have the following considerations:

• In case two offer tranches have the same price, these will be sorted by decreasing order of date, time, minute and second of insertion into the Market Operator information system.

• In the event that the mentioned date, hour, minute, and second also matches both bids, the bids will be ordered from greater to less energy in the span.

• In case the amount of energy also matches it will be sorted in alphabetical order, and numerical in its case, decreasing.

Rule 42. th Information of the process of acceptance, verification of offers and the result of the appeal of the intraday market.

As a consequence of the processes of acceptance, verification of offers and the result of the appeal of the intraday market the Operator of the Market will generate the following information, which will be made available according to describes:

Information for the offer acceptance and verification process:

-The result of acceptance or non-acceptance and verification both in the insertion of the offer and in the pre-appeal validation, will be made available to the market agent with the reasons for its exclusion in the terms set out in these rules when requested. Such information shall be available at the time it is generated.

-Valid offers of the acquisition or sale units that would have been submitted to the session.

It shall be made available to the Operators of the System with the corresponding confidentiality and market agents respecting the confidentiality established in these Rules, after the completion of the appeal of each intraday market, the set of valid sales and acquisition offers presented to each of the intraday market sessions.

Intraday market appeal information:

-Prices result of the appeal: They will be generated as a result of the process of cassation of each of the intra-day market sessions and will be public and will also be made available to the market players, being published after generation.

The System Operator will be made available as soon as the period of complaints to the result of the appeal ends.

-Interim Incremental Program Result of the Cassation: It will be generated as a result of the process of cassation of each of the intraday market sessions and will be made available to the market players with the confidentiality set in these Rules, immediately after generation.

The System Operator will be made available as soon as the period of complaints to the result of the appeal ends, with the corresponding confidentiality.

The Market Operator will make available to the System Operators with the corresponding confidentiality the Interim Incremental Program Result of the Cassation, assigning previously to a Unit of Generic Offering, the values for the Sales Generic Offering Unit and the values for the Generic Purchase Offering Unit, with its sign. The Generic Offer Unit will have positive and negative values and will serve exclusively to make available to the System Operators the result of the appeal.

-Accumulated program result of the Cassation: It will be generated as a result of the process of the cassation of each of the sessions of the intraday market and will be made available to the agents of the market with the confidentiality set out in these Rules immediately after their generation.

-The order of economic precedence: It will be generated as a result of the appeal process and for each programming period of the programming horizon of each of the intraday market sessions and will be made available to System Operators with the corresponding confidentiality, as soon as the period of complaints to the result of the appeal ends.

-Aggregate supply and demand curves: It will be generated as a result of the appeal process for each of the programming periods of the intra-day market sessions and will be public, being further made available to the market players with the confidentiality set out in these Rules and published after their generation.

-Occupation of each of the international interconnections per hour with indication of the maximum commercial capacity of import and export for each interconnection, the capacity occupied in each sense and interconnection and the free capacity in each sense and interconnection. It shall be generated as a result of the appeal process for each of the programming periods of the intra-day market sessions and shall be public.

Rule 43-Exceptional Situations in Intraday Markets.

These are exceptional situations that determine an impossibility of carrying out the process of submission and acceptance of offers or the process of appeal.

The situations referred to in the previous paragraph may be a consequence of some or some of the following assumptions:

a) Impossibility of performing the successive improvement process of the first valid solution.

In case the execution of the successful first-solution process of improvement is not possible, the first valid solution will be taken as a result of the appeal process.

b) Force majeure.

b.1 If it is foreseeable, but inevitable, the Market Operator will suspend the relevant intraday market session. From that moment on and until the next session of the intraday market, the System Operators will resolve the situation by applying the procedures of the system, to the programming periods of the session of the Intraday that has been suspended, until the beginning of the horizon corresponding to the next session of the intraday market.

b.2 If the intra-day market session is open, there are serious breakdowns in the IT or communications equipment of the Market Operator that prevent the proper functioning of the market operator, the Market Operator. may suspend the session by communicating to the System Operators the information available for it to resolve in accordance with the applicable system operating procedures.

(c) Impossibility of determination of the appeal as a result of the technical conditions and the complex offers.

When there is no possibility of finding a solution, as a result of the technical conditions and complex offers, the Market Operator will proceed to end the session without assigning any amount of energy to none of the offers of sale or purchase submitted.

43.1 Unavailability of the viable daily program.

If the System Operators have not published the viable daily program, the Market Operator may decide to suspend the intraday market session, modify the session's programming horizon, or either to make an appeal of the full programming horizon for that session, but considering all the effects of the outcome for, some or some, of the horizon hours due to force majeure.

Rule 44. Intraday Market Settlement.

The Market Operator will determine the energy clearance for each agent participating in the intraday market and in each programming period, for each acquisition unit, unit of sale and, if applicable, unit physical.

In the event that the settlement is completed before the end of the period of receipt of disaggregations, default disaggregations are considered for those units of sale that are obliged to send them and which would not have done so, as set out in the rule "Communication of disaggregations of the units of sale and conversion to units of programming of the system operators", without prejudice to the fact that, after the deadline for the receipt of disaggregations is completed, it is carried out a new settlement with the definitive disaggregations.

44.1 Determination of the remuneration for the sellers as a result of the settlement of the intraday market.

Sellers operating on the intraday market shall be charged for each unit of sale, purchase or, where applicable, physical unit, and for each programming period a remuneration that will incorporate the marginal price on the market intra-day of each programming period of the Spanish or Portuguese offer zone, where the unit is located.

The Market Operator shall conduct the daily settlement of the electrical energy for each vendor participating in the intraday market for each unit of sale or acquisition that has been incorporated in the resulting program the appeal.

To perform the above settlement, the Market Operator shall perform the corresponding entries in the register that will lead to such effects for each unit of sale or physical unit.

44.2 Prices to be considered in determining the price of the purchase of electrical energy in the intraday market.

Buyers operating on the intraday market will satisfy, for the electrical energy acquired, and for each programming period, an amount that will incorporate the marginal price on the intraday market of each period of scheduling of the offer zone, Spanish or Portuguese, where the unit is located.

44.3 Collection rights on the intraday market.

The seller whose sales offers have been married in the intra-day market contracting sessions and incorporated into the programme resulting from the appeal, shall have a right of recovery which shall be calculated as the product of the electrical energy for which the sale is allocated in each programming period to the production unit, or to the unit of purchase, which are holders, or not of their ownership but to which they represent in their own name and for hire or reward, for the price the marginal rate fixed for the same, in the corresponding contracting session, in the area of supply, Portuguese, where the unit is located.

Seller's right to collect will be:

DCI (u, h, s, z) = EPIBC (u, h, s, z) * PMHI (h, s, z)

Being:

DCI (u, h, s, z): Seller's right of charge on the intraday market for the offer corresponding to the unit of sale or acquisition or, located in the z-offering zone, for hour h, in the session "s".

EPIBC (u, h, s, z): Sales energy allocated to the unit of sale or acquisition or, located in the z-offering zone, for hour h on the intraday market in the session "s" (PIBC)

PMHI (h, s, z): Time marginal price corresponding to hour h on the intraday market in the "s" session in the z offering zone.

44.4 Payment obligations on the intraday market.

The buyer whose purchase offers have been married in the intra-day market contracting sessions and incorporated in the outcome of the appeal, shall have a payment obligation which shall be calculated as the product of the electrical energy the purchase of which is allocated in each programming period to the unit of sale, purchase or, where appropriate, the physical unit of which are holders, or not of their ownership but to which they represent in their own name and as an employed person, for the marginal price fixed for the same, in the relevant contracting session, for the area of offer, Spanish or Portuguese, where the unit is located.

The buyer's obligation for each takeover offer at hour h will be:

OPI (u, h, s, z) = ECPIBC (u, h, s, z) * PMHI (h, s, z)

Being:

IPO (u, h, s, z): Obligation to pay the buyer on the intraday market for the offer corresponding to the acquisition or sale unit or, located in the z-offering zone, for the hour h in the session "s"

ECPIBC (u, h, s, z): Purchase energy for the acquisition, sales, or, if any, physical unit, or, on offer zone z, unit of offer for hour h in session "s".

44.5 revenue in the intraday market by the process of separation of markets in the interconnection between Spain and Portugal.

The settlement of each trading session of the intraday market after the application of the market separation process will result in revenues that will be calculated as the product of the exchange capacity effectively. used in the framework of the process of market separation in each programming period for the difference in the marginal prices fixed for the same for that contracting session in each of the supply, Spanish and Portuguese areas. Such revenue, known as congestion income, shall be divided equally between the Spanish electricity system and the Portuguese electricity system.

Each system operator will therefore be logged a charging right in the hour h as:

DCPIBCPTES_CI (h, s) = 0.5 * abs (EPIBCPTES (h, s)) * abs (PMHI (h, s, z₁) -PMHI (h, s, z₂))

Being:

DCPIBCPTES_CI (h, s): Income in hour h, in the trading session "s" of the intraday market, noted to the Spanish and Portuguese systems, by the application of the process of separation of markets between the two bidding zones, Spanish and Portuguese.

EPIBCPTES (h, s): Exchange capacity effectively used in the framework of the market separation process in the hour h between the Spanish and Portuguese offer zone in the trading session "s" of the intraday market.

z_1,z₂: Subindexes that refer to the Spanish and Portuguese offering zones respectively.

44.6 Publication of the results of the intra-day market settlement.

According to the general rules of confidentiality established in these rules, after each session of the intraday market the Market Operator will make available to market players, through their systems of information, the results of the payment entitlements and the payment obligations arising from that market session, for the daily programming horizon for each contracting session.

The log for each hiring session will be provisional if:

(a) The corresponding cassation is provisional according to the rule "Sequence of Operations of the Intradiary Market"

(b) The deadline for communication of disaggregations to the results of the appeal of the relevant markets is open.

(c) Asimilar, a posteriori, erroneous values in liquidation.

These entries will become final when none of the above circumstances are present, except where for any of those reasons a new settlement is necessary, in which case the new ones Entries shall be final when there is no provision for any provision of provisionality between those mentioned in the preceding paragraphs.

CHAPTER NINTH

Programs received after the intraday market

Rule 45. th End-time program after each intraday market.

For the purposes of these Rules of Market Operation, it is understood by program final schedule, the programming established by the System Operators based on the appeal of the offers of sale and purchase of energy formalised electricity for each programming period as a result of the daily viable programme, resulting from successive intra-day markets performed by the Market Operator and the result of the restriction analysis process.

The final schedule program will incorporate, for each programming period, the following items:

1. The electrical energy corresponding to tranches to each unit of sale and acquisition whose offers of sale and purchase of electrical energy have been incorporated as a result of the casings, once modified, if necessary, to avoid technical constraints exist.

2. The energy associated with bilateral contracts.

System Operators will communicate to the Market Operator the final schedule once the redispatches determined in the constraint solution process are incorporated. The Market Operator shall make available to the agents such information as well as the conversion of such information into units of supply necessary for the validation and the appeal process.

The Market Operator will make available to the agents the final schedule, respecting the confidentiality established in the corresponding rule for the purpose of being the base on which the agents carry out the offers. for the next intraday market session.

CHAPTER DECIMAL

Liquidations, invoicing, charges and payments and guarantees

Rule 46. General Characteristics of the settlement.

In the settlement process, the receivables and the payment obligations resulting from transactions in the daily market, in the intraday markets as well as those other than those that are regulated by law, are determined. determine.

46.1 Elements of price determination.

These are operations for the determination of the price of the electrical energy of each unit of sale and of each unit of acquisition, the establishment of the energy programs assigned to each unit of production and acquisition that are listed below:

-Daily Program resulting from the daily market appeal (PDBC).

-The resulting intra-day market (PIBCI) appeal.

46.2 Liquidation.

The Market Operator shall conduct a daily settlement for each agent by aggregation of the hourly log for each day in accordance with these rules.

The liquidation of the flow in the interconnection between Spain and France and of the congestion income generated in such interconnection will be settled by the operators of the Spanish and French market or third party enabled by this. Each market operator shall be responsible for settling half of the congestion income of the interconnection between Spain and France to the operator of the system in his country, in accordance with the requirements of each of the electrical systems.

To perform the above settlement, the Market Operator shall perform the corresponding entries in the register that will lead to such effects at the following units:

1. Offer units for sale or purchase of each holder.

2. Units of offer of sale or purchase of each representative when in the unit are offered energy of holders represented in own name and for account of others.

3. Physical units associated with the sales offer unit of each representative with which the energy of holders represented in the name and on behalf of third parties is offered. To this effect the disaggregation of energies of such units of sale by physical units shall be considered.

4. The unit of acquisition of the represented in name and on behalf of third parties associated with the unit of offer of acquisition of its representative.

In the case of sales units corresponding to units of production participated by several market players, the annotations for the energies that form part of the programme resulting from the appeal of the daily market they will make each owner on the basis of the detailed assignment in the "Outcome of the Daily Market" rule.

In the case of sales units corresponding to units of production participated by several market players, the annotations for the energies that are part of the programme resulting from the cross-market appeal are perform each owner in proportion to their percentage of ownership.

Rule 47. th Settlement Process.

47.1 Daily Liquidation.

On the basis of the daily market and intra-day markets, the Market Operator shall make available to the agents the collection of payment entitlements and payment obligations corresponding to the resulting programme. of the appeal.

On the business day after each trading day, the Market Operator shall make available to market players, in the information systems of the market, the settlement corresponding to that daily programming horizon, with a distinction from each programming period, as well as information on payment entitlements and payment obligations arising therefrom. The non-working days shall be published as a draft settlement.

Such a settlement shall be performed in accordance with the rules set out in these rules and provided that the necessary information has been received.

Daily settlement will be considered provisional if any of the following reasons are present:

a) The existence of outstanding claims regarding the development of some contracting session of the electricity production market.

b) Be open the deadline for receipt of complaints by the agents.

c) The existence of outstanding claims regarding settlement.

d) The appearance, a posteriori, of erroneous values in a liquidation considered as definitive, which could not be detected at the time by the agents or by the Market Operator.

e) Any other cause determining insufficiency or inaccuracy in the information necessary to practice settlement.

Expressly, the cause or causes that determine the provisionality shall be stated.

The daily settlement shall be deemed to be final unless any of the grounds referred to in the preceding paragraphs are met.

47.2 Incident resolution.

Once the Market Operator has issued the daily settlement, the market players shall have three working days to make the claims relating to such settlement as they deem appropriate, as set out in the Royal Decree 2019/1997 of 26 December.

The Market Operator will have three business days to resolve the complaints filed.

Daily settlements may be modified as a result of complaints by agents and will be estimated by the Market Operator, or to include new information or modifications to the market. Market Operator initiative, or market players once accepted by the Market Operator.

The Market Operator will publish a new settlement of those days that would have been modified as set out above, with the agents of a new claim deadline available.

If, by reason of the time limit set in these Rules to effect daily settlement, there are outstanding claims to be settled, such daily settlement shall be provisional.

In the event that the market agent is not in compliance with the resolution adopted by the Market Operator on the complaint filed, it will have three working days to file a new complaint on the same facts contributing additional information.

In such a case and in accordance with the "Daily Settlement" rule, the settlement shall be maintained, on a provisional basis, until the final settlement of the claim.

In the event that the agent has recourse to a competent external body to resolve the Market Operator to the complaint, it must inform the Market Operator of this fact by submitting a new claim associated with it. file.

If the agent is disagreeing with the resolution of the Market Operator to the complaint, it does not open another complaint within the same file and does not present it to the competent body, after a period of 15 working days the complaint will be closed with the status granted by the Market Operator.

In the event that the market agent does not result in compliance with the resolution adopted by the Market Operator on the complaint filed, it will be in accordance with the transitional provision of the Royal Decree. 2019/1997, December 26.

In such a case, the settlement shall be maintained on a provisional basis until the final settlement of the claim.

Rule 48. First Transaction Billing Procedure in the Electricity Market.

48.1 Daily Production Market Agents to which they are billed.

The billing will be made to the agents who participate in the daily and intraday market for the set of production and acquisition units of which they are holders, considering their percentage of participation, and for the set of units not of their ownership but to which they represent in their own name and for others.

To agents who participate in the market by virtue of registration in the administrative register of production facilities and by virtue of their activity as a trader, Direct Consumer in Market or the Cargas Manager of the System, or representation of these activities, will be billed separately each of these activities. The Market Operator, if deemed appropriate, may also make separate invoices for the activities that result in entries in different sections of the registry.

The operator of the Portuguese electricity system will be invoiced for the congestion income corresponding to the Portuguese electricity system which has been taken into account in the process of separating markets in the interconnection between Spain and Portugal. Portugal.

The French electrical system operator or third party enabled by the latter will be invoiced for the congestion income corresponding to the French electricity system which has been taken into account in the process of separation of markets in the interconnection between Spain and France.

The Operator of the Spanish electricity system will be billed the congestion rents corresponding to the Spanish electricity system that have been taken into account in the process of separation of markets in the interconnections between Spain and Portugal and between Spain and France, as well as the congestion income that has been taken into account in the process of market separation in the interconnection between Spain and Morocco.

In the case of objective and duly justified situations, in the opinion of the Market Operator, in which an agent communicates his wish that the charges accrued by his sales units be made in separate accounts, the Market Operator will make separate invoices for each unit or set of units.

48.2 Determination of purchase-sale transactions in the electricity market.

The determination of the transactions that occur in the electricity market between market players is necessary to enable the billing to be carried out in an appropriate manner and to be able to inform the agents, in the cases where necessary, of the counterparty in its purchase or sale operations.

The billing object transactions are each of the transactions that occur in each billing period, in each market or settlement segment, and in each offering zone between the agents that are sellers and the agents that they are buyers, including those of each agent with themselves in the event that they intervene in the market by buying and selling.

Energy deliveries will be understood as applying proportionality criteria to the acquisitions made by the agents involved in the same billing and market period. This proportion will be applied to the energy and the amounts. Agents whose establishment is outside the territory of the MIBEL and which are liquidated at the price of the Spanish or Portuguese zone shall only buy and sell with agents located in that territory.

The Market Operator is not a counterparty in any of these transactions.

48.3 issue of invoice.

Electricity deliveries associated with the electricity production market, both in the Spanish zone and in the Portuguese area of the Iberian market, will be documented by the Market Operator through invoices issued by that operator in the name and on behalf of the energy supply entities.

Data regarding the identification of the recipient of the operation will be replaced by the identification of the Market Operator. The Market Operator shall retain the original of the issued invoice and forward the copy to the supplier.

The Market Operator shall issue an invoice for the deliveries made to each acquirer, in which the data relating to the identification of the shipper shall be replaced by the identification of the Market Operator.

The Market Operator will retain copies of such invoices and forward the original to the recipient of these invoices.

The documents referred to in the preceding paragraphs to be retained by the Market Operator shall be considered as an invoice for the purposes of the Billing Regulation, and shall be made available to the Tax administration during the limitation period for the carrying out of the checks which are necessary in relation to the electricity deliveries reflected in the corresponding invoices.

48.4 Concepts included in the invoice.

The invoice will include, in addition to the data of the supplier and the energy acquirer as indicated in the "Issue of Invoice" rule, the following concepts:

-Invoice series as an energy supplier for each supplier and correlative numbering agent.

-Invoice series as an energy acquiring entity, which will be the Market Operator series, with correlative numbering.

-Date of issue.

-Due date.

In the case of the invoice as an energy acquiring entity, the following invoice header data from the buyer agent, referring to the headquarters of the economic activity or permanent establishment to which the energy, in the case of a taxable dealer under Directive 2006 /112/EC, or the data of its establishment situated in the territory in which the energy is consumed in the case of other taxable persons:

Agent Social Reason, Person to whose attention the invoice is issued, Tax Identification Code (CIF), Address, Postal Code, City, Province, Country.

In the case of the invoice as an energy supplier entity, the same invoice header data as the invoice as a acquiring entity will be included as a general rule. Notwithstanding the foregoing, the agents who have communicated in such data a permanent establishment to which the energy located outside the Spanish territory is supplied, if they have a permanent establishment or tax domicile in the territory The Spanish authorities shall inform the Commission of the information referred to in Article 1 (1) of Regulation (EU) No. 61er of the European Union and of the European Council of the European Union. In this case, sales to individuals established outside Spain will be documented on another invoice whose header data will be those that have been reported for the invoice as an energy acquiring entity.

The invoice shall include the amount to be paid or to be charged for the purchase or sale transactions made in the electricity production market, which includes the liquidation of the daily and intraday markets as well as the concepts to be determined.

The amount that this concept figures in the invoice as a supplying entity matches the total amount of transactions in which the agent acts as a seller.

The amount that this concept figures in the invoice as an energy acquiring entity matches the total amount of transactions in which the agent acts as a buyer.

The invoice will also include the fees and regulatory taxes, which are detailed in the "Fees and taxes applicable" rule.

48.5 Applicable quotas and taxes.

48.5.1 Electricity tax: The Electricity Tax (EMI) must be satisfied by the direct consumers on the market for their purchases in the market for the production of electrical energy that they respond to in the Spanish territory as well as the agents it regulates shall be determined.

Those market players to whom the exemption provided for in Article 64 (5) of the Special Tax Act 38/1992 will apply, will present to the Market Operator the registration card in the territorial register. corresponding to the place of location of the establishment, in which the annual amount of electricity, expressed in megawatt hours (MWh), shall be recorded.

The market operator shall take into account, in the market billing, the exemption from the electricity tax to the net value of the agent's purchases from the third business day after receipt of the registration card. Any modification to the authorised amounts shall be communicated to the market operator and shall have effects within the same time limits as the previous notification.

48.5.2 Value Added Tax: Value Added Tax (VAT) will be passed on to the subjects according to the specific rules governing the deliveries of electricity.

Deliveries of electricity shall be understood as being carried out in the territory of application of the Tax in the following cases:

1. No to an employer or professional reseller, where he has the seat of his economic activity or who has a permanent establishment or, failing that, his domicile, in that territory, provided that such deliveries are to the registered office, permanent establishment or domicile.

For these purposes, it shall be understood by an employer or a reseller who is the principal activity of the purchases of electricity on his resale, provided that the actual consumption of such goods is negligible.

2. Other, other than when the acquirer carries out the actual use or consumption of the electricity in the territory of application of the Tax. For this purpose, such use or consumption shall be deemed to occur in the said territory when the meter on which the measurement is carried out is located.

Where the acquirer does not effectively consume the total or any part of the energy, the non-consumed part shall be deemed to be used or consumed in the territory of application of the tax where the said acquirer has in that territory the of its economic activity or has a permanent establishment or, failing that, its registered office, provided that such delivery of electricity has been addressed to that headquarters, permanent establishment or domicile.

As regards the determination of the taxable person of the tax, it shall be the agents who are the recipients of electricity deliveries which are understood in the territory of application of the tax provided that the an agent not established in that territory or whose permanent establishment in that territory does not intervene in the delivery of electricity. In such a case, the market operator shall not charge the VAT in that transaction on the basis of the criterion set out above, the investment of the taxable person.

Market players shall communicate the condition in which they operate on the market and the data relating to their establishment, as well as any variation in them, which shall serve as a basis for the determination of the system. of applicable taxation.

The Market Operator will only have VAT, in regulatory terms, on purchases made by agents established in the Spanish or Portuguese territory.

48.6 Agent data for billing.

It will be a prerequisite to obtain the high as a market agent to have contributed to the Market Operator, through the system established to this effect in the "Guide of Market Access", all the necessary data for This can be done on behalf of the agent. Any modification of such data shall be requested through the Market Operator Information System, being accepted by the Market Operator if the request is correct. The acceptance and processing by the Market Operator of the agent's application shall be governed by the time limits set out in the "Horarios and Plings for Agents ' Requests" rule.

Changes in such data when they affect billing, including changes in ownership of facilities, will not have an effect on dates whose appeal of the daily market would have been produced.

48.7 Billing Period.

The billing will be done in business days for the set of programming periods of a day whose daily settlement has been published. Also after each appeal and during the non-working days in the Madrid square or Saturdays the accumulated data of the daily billing that the draft consideration will have will be published.

48.8 Electronic Billing.

Invoices issued electronically in which the Market Operator has used an advanced electronic signature based on a certificate recognized and created by a secure signature creation device the same legal validity as invoices issued on paper, in accordance with the rules in force.

Agents may communicate to the Market Operator that they do not wish to dispose of electronic invoices through the available IT system.

Invoices issued electronically can be downloaded through the Market Operator's Computer System, which ensures confidentiality. Its content shall also be provided in a format that allows for its electronic processing.

Agents will be able to check, once the invoice is received, through the signature verification mechanism:

• The authenticity of the origin of the invoices, that is, that they have been issued by the Market Operator.

• The integrity of the content, that is, that they have not been modified

• That the Market Operator's signature creation certificate has not been revoked.

The agent must retain, as indicated in Royal Decree 1496/2003 of 28 November, approving the Regulation governing the obligations of invoicing, and amending the Tax Regulation on the Value Added, the file of the transmission containing the invoice and its signature, as received. You may also keep the invoice in paper form with the conditions laid down in Article 8 of Order EHA/962/2007 of 10 April or in place of replacement.

To facilitate this obligation, the Market Operator will keep the electronic billing files permanently available to the agent in its database.

All other documents that accompany the billing will be signed electronically. The agents will be able to download them through the Market Operator's Computer System.

48.9 Other billing information.

The Market Operator will make available to agents who have made transactions with agents established in or outside the European Union, in their computer system and signed electronically, certificates that document such exchanges of electricity and their amounts in order to identify the counterparty and facilitate compliance with the tax obligations of the agents.

48.10 Rectifying invoices.

In the event that a new settlement of a day is necessary, or by mistake in the invoice in the assumptions contained in the current regulations, the Market Operator will issue a letter of amendment, in which the rectification of the data which, in the case of rectification in amounts and energies, will be the differences with the above.

48.11 Market Operator Tax Obligations Regarding Billing.

The Market Operator will relate in its annual statement of operations to third parties, in the terms of Royal Decree 2027/1995 of 22 December 1995, the operations carried out by the suppliers of electrical energy and by its acquirers, which have been documented in accordance with the "Issue of Invoice" rule, indicating in respect of each supplier and of each acquirer the total amount of the operations carried out during the the period covered by the declaration, in which the deliveries of the goods shall be recorded as energy imputed to each supplier and as sales the energy purchases imputed to each acquirer.

48.12 Subject Obligations for Billing.

For billing purposes, agents expressly acknowledge and declare full knowledge of all of their tax obligations in reference to the activities by which the Market Operator will issue an invoice. on your behalf, in case of sales, or you will make your invoice available, in case of purchases. In particular, and without exhaustive encouragement, the rules concerning the value added tax and the special tax on electricity shall apply, without prejudice to other fees and charges which may be applicable. The Market Operator is in no way responsible and in any way responsible for any breach by the agents of the tax regulations applicable to them at any time.

Market players will provide the Market Operator with any necessary information that is required for the smooth operation of the billing system.

48.13 Request for billing information.

Agents may ask the Market Operator for information regarding their billing in the electricity market for their accounting audits through the market operator's computer system. No request made by other means will be accepted. The acceptance and processing by the Market Operator of the agent's application shall be governed by the time limits set out in the "Horarios and Timescales for Agents ' requests".

The Market Operator will comply with the confidentiality criteria set forth in these rules in particular for billing data, which will prevent agents from being sent by non-secure means, such as the fax or e-mail.

Rule 49. System of charges and credits.

49.1 settlement horizon.

L-settlement horizon is defined as the set of daily settlements whose collections and payments are made together.

The settlement horizon will initially be the natural week, that is, Monday to Sunday. The Market Operator may modify this parameter by means of Instruction and after consulting the Market Agents Committee, in any case the minimum settlement period of one day.

The charges and payments of the French market operator corresponding to the settlement of the flow in the interconnection between Spain and France and the congestion income generated therein will be carried out on a daily basis, according to the payment procedure and agreed payments, all working days for the Bank of Spain. Both market operators, Spanish and French or third parties enabled by the latter, will take over 50% of the cost of the financing required to deal with the payments between the two systems. The cost assigned to the Spanish market operator will be financed from the congestion income corresponding to the Spanish electricity system.

49.2 Cobros and Payments.

The following parameters are defined below:

N Day of publication of charges and payments to be made. It is defined as the business day after the last day of the settlement horizon.

P Day of payments, will be made two working days after day N. In those weeks in which three holidays coincide in the Madrid square from Monday to Friday, the day of payments will be the business day after day N.

C Day of charges, will be made the day after day P in case of being a business day, if the day after it is festive, the charges will be realized the same day P as the payments.

They are considered to be non-working days on Saturdays, Sundays and public holidays in the Madrid square, as well as on 24 and 31 December. The charges and payments shall not be carried out in any case on a day declared indeft by the Banco de España.

The Market Operator will publish to agents on day N the charges and payments of the settlement horizon L.

Daily liquidations that would have been modified as a result of the resolution of incidents, or for others of the reasons set out in these rules, and which would have been part of a previous settlement horizon, they shall have the same date of collection and payment as the settlement horizon to which the business day prior to their publication belongs.

Charges and payments that correspond to market players in accordance with the provisional daily settlement shall be considered as the final settlement.

The Market Operator may modify parameters N, P and C. by means of Instruction and with the agreement of the Market Agents Committee.

49.3 Features of the aggregate charge and credit notes.

49.3.1 Publication of the aggregate charge and credit note: The Market Operator, on the N day, will publish to market players who have acted as buyers or sellers, through the Operator's information systems of the market and electronically signed, the aggregated notes of charge and credit, which shall indicate the net amount to be paid or receivable resulting from the sum of the invoices corresponding to the same settlement horizon as well as the details of the invoices included.

The Market Operator shall publish to the market players its corresponding aggregated note of charge and credit, in which case the following shall be stated:

Name of the Agent.

Due Date.

Payment deadline and time.

Market Operator Account to receive payment in.

The account of the agent on which the payment will be made.

The detail of each invoice corresponding to the daily settlements belonging to the same settlement horizon shall be included in particular:

Date of daily settlement.

Reference to the issued invoice.

The result of that invoice.

The total amount to be paid or paid for the sum of these invoices will also be indicated.

The aggregate charge and credit note shall also include all corrections that may arise in the usual development of charges and payments, such as interest on late payment or overpayments, corrections for movements in the cash balances that the agents would have contributed or any other cash movement that was necessary to include in this note.

In particular the Market Operator will be able to integrate in the aggregate note of charge and credit of the market of each agent the payment corresponding to the financing of the Market Operator that is normatively determined. In the event that the agents are represented on the market on their own behalf and on behalf of third parties, their obligation to pay in respect of the remuneration of the Market Operator will be integrated into the aggregate note of charge and credit of their representative. minoring the collection or increasing the payment of the charge.

49.3.2 New publication of the aggregate charge and credit note: In certain assumptions, as indicated below, the Market Operator, upon notification to the agents, will publish a second version of the aggregate charge note and post to day N. These assumptions are as follows:

• If the day of payment, after verification of the non-compliance in the payment of an agent, the cession of payment rights granted by a third party is executed, the latter would have modified the result indicated in the aggregated note published the In this case the market operator shall publish a new note added to the transferor agent in which the result of the execution of the transfer of receivables shall be included. If the result of the aggregated note is a charge, the agent shall proceed to the account of the Market Operator immediately. In the event that the payment day has not been paid, the act shall proceed as indicated in the rule "Impayments and interest on late payment scheme".

• If the payment day occurs a default situation, the prorate will be carried out in proportion to the credit notes of each creditor agent without taking into account, where applicable, the consolidation of the charge or credit notes.

If the default of a business group that consolidates its charge or credit notes occurs, the Market Operator will arrange for the execution of the loan guarantees necessary to cover the debt.

If, as a result of the prorate, the consolidated note of a business group is a debtor, the Market Operator will issue a new note of charge that the agent will have to make effective immediately. Failure to do so will proceed as indicated in the "Demora and Interest Regime" rule.

• If the day of collection would have to retain an agent the receivables credited to the previous settlement horizon in order to guarantee the obligations of payment of the current horizon, the Operator of the Market will proceed to issue to the agent on the day of charges a new aggregate note in which the amount of receivables to be withheld in cash guarantees will be deducted. If the result of the aggregated note is a charge, the agent shall proceed to the account of the Market Operator immediately. In the event that the payment day has not been paid, the action shall be taken as stated in the rule of "Impayments and Demora Interest Regime".

49.4 Consolidation of collections and payments.

In the cases covered by these rules in which two or more invoices are issued to the same market operator on the basis of different activities, considering that these invoices correspond to the same CIF, the Aggregate credit or charge may be consolidated in one of them, which shall be indicated by the staff member himself. The Market Operator shall include in the aggregated note of charge and credit of that agent the set of daily credit and charge notes issued to the agent on the settlement horizon.

Market players belonging to the same business group may consolidate on a single aggregated note of charge or credit the relevant notes to all the companies in the group.

The set of companies that compose the business group will have to send to the Market Operator a document requesting the compensation of the charges and payments of all of them, signed by persons with sufficient powers. This document will indicate in which company you wish to consolidate the charge or credit notes. In those cases where the note is a creditor, the payment shall be made in the account corresponding to the undertaking in which the payments are consolidated.

For the purposes of defining the agents belonging to the same business group, the provisions of Article 42 of the Trade Code shall apply.

49.5 Obligations for market players that result as buyers.

The agent of the daily market must enter the amount that corresponds to you, including the Value Added Tax that is established at any time. You must also pay any other type of tax or surcharge to which you are legally obliged and, in particular and in your case, the Electricity Tax mentioned in the "Fees and taxes applicable" Rule. The costs arising from the payments shall be on behalf of the staff member.

The maximum period in which the payment is to be made may not be after 10 hours of the date of payment P indicated in the "Cobros and payments" Rule. Payment shall be made in the account designated by the Market Operator. The Market Operator will be able to enable other payment processes, such as home address or debit card payment, provided these solutions ensure payment security.

Agents accept that any payment issued to cover the obligations incurred on each settlement horizon has an irrevocable character.

The buyer will not be released from his or her payment obligation but when he/she is entered into the Market Operator account. The amount due, if any, will be a proportion of the sales rights of the sellers, by proceeding with the Market Operator to carry out the corresponding regularisation once the debt has been settled.

Debtors may make a partial or total payment on account of the date prior to the payment date, but in order for it to be taken into account by the Market Operator prior to the date of payment, the Agent must notify through the Market Operator Information System its performance. Once it is established that the entry is included in the market operator's account, the agent's notification will be accepted and, consequently, the agent's payment obligations will be released in that amount. In the event of no communication, payment obligations shall be released on the day of payment once it is established that the payment has been made. The acceptance and processing by the Market Operator of the agent's notification shall be governed by the time limits set out in the "Horarios and Timescales for Agents ' requests".

The banking transfers will have to include in these bank transfers, for their quick identification by the banking institution, the business-activity code that consists of the Market Operator's database.

49.6 Rights for market players that result as vendors.

The Market Operator will instruct the bank or savings bank in which the cash account will be held on the performance of the payments, in favour of the sellers who have participated in the production market. of electrical energy during the settlement horizon in question. The Market Operator will issue payments to the creditor agents on the account that they communicate.

Bank account data for collections may only be communicated and modified by request through the Market Operator Information System per person with sufficient permits, being accepted by the Operator. of the Market if the bank account details are complete and do not contain any errors. If the agent so wishes, it will be admitted that the account holder is not the agent himself. The acceptance and processing by the Market Operator of the agent's application shall be governed by the time limits set out in the "Horarios and Timescales for Agents ' requests".

The day the credit must be paid will be the same as the one defined in the "Cobros and Payments" Rule as the day of charge P for the market players that are liable to be debtors, only if any of the following occurs:

• That all payments have been received on the P day and there is useful time for the bank to order the payments from the creditor agents.

• If the Market Operator has an instrument that allows, in the event of default, to make the same day of payments, of the counter-guarantee type or line of credit guaranteed or guaranteed by the guarantees provided by the agents in favour of the Market Operator.

The payment against the said cash account will be made by the bank within the same day and the same value date on which the payments to be made by the market players acting on the account have been received in that account. buyers in the electricity production market as a result of the settlement horizon in question.

If none of the above mentioned circumstances occur, the day on which the payment is to be made shall be the day of payments C as defined in the "Cobros and Payments" rule for market players who are either debtors or on the same day if it is a public holiday on a later date.

The payment against the said cash account will be made by the bank within the same day and at the same time as the value indicated in the preceding paragraph.

This payment will include the Value Added Tax that the market agent must pass on, and any other taxes of any character that the legislation in force requires you to manage.

49.7 Account designated by the market operator for the realization of the credits and payments.

The Market Operator shall designate a cash account in a national savings bank or savings bank for the purposes set out in these Rules.

This account will be opened by the Market Operator in deposit regime, will be holder of it in the interest of the market agents and will apply the established regime for the management of foreign businesses, without in as a result, balances which may, exceptionally, be able to present such an account shall be integrated into the market operator's assets. In relation to such balances, the latter could only order the charges and credits in that account for the resulting liquidations of the market in the electricity production market, in the terms of the above paragraphs.

The Market Operator will be able to make the existing cash in this account profitable. The interest accrued on it, minus the possible costs of the same and less than a maximum of 25 basis points of interest rate, which may be retained by the Market Operator as a management fee, shall be returned to the agents who have (a) the amount of cash deposits in proportion to the cash deposits, without any negative balance. The relevant revenue to the staff member may include, at most, the interest generated in the account for three months, and shall be paid before 30 calendar days from the receipt by the Market Operator of the information. bank for the settlement period.

49.8 Impayment and default interest arrangements.

In the event of default, the buyer in the market for the production of unfulfilled electric power will be obliged to pay a penalty. The amounts due and unpaid shall bear interest on late payment, from the date on which the payment was payable without having been verified, until the date on which the outstanding amount has actually been paid, as determined by the continuation.

If at 11 hours of the payment date the Market Operator's bank has not received firm notification of the execution of the payment will issue a certificate, indicating the agent and the amount defaulted. Upon receipt of this notification, the Market Operator shall act in accordance with the following procedure:

-The Market Operator shall, after notification to the data subject, execute the security lodged, as set out in the Rule "Criteria for performance against non-compliances" If the execution of the guarantee allows recovery The market operator shall make the total of the payments provided for.

-If the performance of the guarantee does not allow the immediate recovery of the amount due, it shall be liable in proportion to the payment entitlements of the market players resulting from the creditors, resulting in a loan to the defaulting agent. agents. Such a sentence shall not in any event affect the liquidation of the French market operator or entity empowered by it.

-The amount due will accrue late interest to the EONIA rate plus three hundred basis points, with a minimum of 200 Euros, in charge of the delinquent agent, and will also produce a fixed penalty of 300 Euros.

The amounts due will be calculated according to the following formula:

D = Min [E * (1 + i *P/360); 200] + 300

Being:

D: Amount due including interest on delay.

E: Amount owed and unpaid, excluding interest on late payment.

i: late interest rate.

P: Interest Settlement Period.

The applicable default interest rate will be the one resulting from applying the inter-bank interest rate according to the average rate published by the Bank of Spain for one day deposits (EONIA) plus three percentage points.

Once the debt is settled, the Market Operator will proceed to regularisation of the debt, paying the amount that has been paid more the corresponding interest of late to the sellers as set out in the paragraphs above.

The amounts corresponding to the interest on late payment and the penalty indicated in this rule shall apply provided that the non-payment causes the application of the proportion of the amount paid by the agents creditors. The prorateos shall be carried out at the first hour of the day of collection after the process of withholding the collection rights described in the "Characteristics of the aggregated notes of charge and Abono" rule, except where the charges and payments are made on the same day, in whose case the prorratees will be held at 12h 30 in the morning.

Regardless of the above, the buyer in the defaulting electric power production market will be liable for all damages caused by the delay.

49.9 Cash Deposit for Payments.

The agent who wants it, as an alternative to the payment by bank transfer, can pre-make a cash deposit in the bank account designated by the market operator to make the payments and payments, and request that payments below a certain threshold are made from the deposit.

Also, the agent may request that the credits below a certain threshold be considered as an income in the cash deposit.

49.10 Payment and Payment Calendar.

Each year and after the publication of national holidays and the Autonomous Community of Madrid, the Market Operator will present to market players a schedule of payments for the following financial year, from 1 January to on 31 December of the following year. This timetable must specify the deadlines for the communication of the charges and credits and the payment deadlines for each settlement horizon. The Operator of the Market reserves the right to modify these dates, provided that there is a notice of at least one month, if by means of Instruction and after agreement of the Committee of Market Agents it was decided to modify the deadline of charges and payments weekly.

49.11 Prenda on receivables.

Market players who pledge the collection rights for their daily and intraday market sales to creditor entities through the market account may notify the Market Operator, which will it shall be considered whenever the following conditions are met:

• The application for a pledge shall be made by the authorized person of the agent or his representative through the Information System of the Market Operator on the account that the agent has discharged on the market.

• The application must be accompanied by document submission to the effect according to the model published by the Market Operator, and must be signed by the agent's agent and by the bank's proxy.

The garment establishment on the agent's bank account will have for the Market Operator two effects:

1. Subsequent modification of the bank account data will require the authorized person's request from the agent or its representative through the Market Operator's Computer System, being accepted if received at the Market Operator. document to the effect, according to the model published by this Operator, signed by the agent's agent and by proxy of the bank.

2. The withdrawal of the garment on the bank account will require the application by authorized person of the agent or its representative through the Informatic System of the Market Operator, being accepted if received in the Operator of the Market effect, depending on the model published by this Operator, signed by agent proxy and by proxy of the banking entity.

The acceptance of the account in garment does not imply for the Market Operator the obligation to credit the account of the agent's creditor balance, if any, for the sales on the market, but the rules regarding the market will prevail. representation, in such a way that the sales of the agent on the market through a representative acting in his own name and on behalf of the agent shall be made on the account of the representative.

Rule 50-Procedure concerning the provision of guarantees in favour of the market operator.

50.1 Guarantees Constitution.

Market players liable to be debtors as a result of their purchase operations in the electricity production market shall provide the Market Operator with sufficient collateral to cover the market. economic obligations arising from their transactions, in such a way as to guarantee to creditors the full collection of the electricity supplied, the price of the electricity and the other concepts included in the 'quotas and taxes' rule applicable " and on the same day as the settlement of the relevant period occurs.

The lack of provision of this guarantee, its lack of acceptance by the Market Operator as insufficient or inadequate, or its lack of maintenance and updating, will prevent the market player from intervening in the production market.

50.2 Subjects to provide collateral in the Market.

The collateral holder must be the agent himself, if he comes to the market on behalf and on his own account.

If the agent is represented by a subject acting on behalf and on behalf of the agent, the holder of the warranties shall be the agent himself for all purposes.

If the agent is represented by a subject acting in his/her own name and on behalf of the agent, the holder of the warranties shall be the representative for all purposes.

50.3 Guarantees Maintenance

The Market Operator shall release the security provided by the agent on the production market provided that it has fulfilled all obligations arising from its participation in the market.

50.4 Coverage of warranties.

The security to be provided by each agent shall be liable, without limitation, in accordance with the provisions of these Rules, of the obligations it assumes under its electric energy acquisitions on the market of production.

The collateral provided must also be in response to how many current taxes and fees are payable to agents at the time of payment for their purchases in the electricity production market.

This guarantee will not be liable for obligations incurred by clients, persons or entities other than agents acting as vendors in the production market. In particular, it shall not be liable for payments to be made for the settlement of tolls and for payments corresponding to the bilateral physical contracts concluded on the margins of the said production market.

50.5 Types of warranties.

Market players, if they wish to participate in the markets, must present:

• A guarantee of operation to cover the value of the offers of purchase of the units from which the agent is a holder, provided that the offer is made directly by the owner or his representative on behalf and by hire, and the value of the purchase offers of the units to which it represents in its own name.

In the event that the agent is represented in the name and on behalf of others and their units are offered jointly with other units of other agents, also represented in the name and in the account of others, without any constant proportion in the energy offered for each unit, each of the operators holding the units must have sufficient operational guarantees to support the full purchase offer.

The failure of this guarantee will prevent the agent from participating in the corresponding appeal process.

Market players are also required to provide the following guarantees:

• A credit guarantee that will be liable for payment obligations due and unpaid. This credit guarantee will not be fixed "a priori" by the Market Operator but will be calculated once the outcome of the liquidation is known. A staff member who has provided a guarantee of operation which has made it possible to appeal his tender shall be covered by the security of credit required as a result of the settlement of that transaction by automatic conversion into a guarantee of credit for the required operating guarantee part.

• A supplementary guarantee, which would be required of agents in those cases where, after consulting the Committee of Market Agents, the Market Operator deems it necessary, either because there is a higher risk than the the guarantee of operation, either by other special circumstances which objectively justify the requirement for additional guarantees.

In this respect, the Market Operator may ask a rating company to assess the risk of the agent acting as a buyer for purposes of objectively justifying the requirement of a supplementary guarantee with cost to the affected agent.

The Market Agents Committee may request at any time to be informed of the guarantees required of an agent and of the guarantees provided.

50.6 Formalization of warranties.

50.6.1 Guarantee formalisation instruments: The formalisation of guarantees should be done in favour of the Market Operator by means of the following instruments:

(a) Cash deposits in the account designated by the Market Operator for the realization of the charges and payments as set out in the Rule " Account designated by the Market Operator for the realization of the fertilizers and charges ".

b) Aval of a solidarity provided by bank, savings bank or credit union resident in Spain or branch in Spain of non-resident entity, which does not belong to the group of the endorsed or established, in favour of the Operator of the Market, and deposited with the bank, in which the guarantor or guarantor recognizes that his obligation to pay under the same is at first requirement, totally abstract, without the guarantor or guarantor being able to oppose any exception to avoid the payment to the Market Operator and, in particular, no information on the underlying relationships between the Guarantor or guarantor and the endorsement or entrench.

The payment from the guarantee executed must be made in such a way that the Market Operator can make it effective at first request and within the maximum period of one business day in the square of Madrid following the moment in which requires the payment of the guarantor.

The valid endorsement model will be available in the "Market Access Guide".

(c) Irrevocable authorisation of use, up to the maximum amount of payment obligations incurred in the period to be settled, of one or more credit lines subscribed by the energy buyer of an entity resident in Spain or branch in Spain of non-resident entity. The lines of credit referred to in this paragraph shall be a finalist and must be used exclusively as payment or hedging lines in respect of obligations under their payment obligations on the market production, with a minimum amount available at each time equivalent to the credit guarantee and, where appropriate, the additional amount corresponding to the supplementary guarantee.

d) Cession of the future payment entitlements pending payment of the production market, which the agent that is creditor as a result of its sales of electric power does in favor of the debtors agents. The amount recognised and, therefore, valid to formalise the required guarantees, shall be the value set out in the Rule 'Calculation of recognised collection rights which may be granted to third parties'.

Any agent, by default, will yield to itself its collection rights. In case you wish to give them to third parties, you must present to the Market Operator the document for which the model will be available in the "Market Access Guide".

Any transfer of receivables shall imply the consent of the transferor of the withholding of receivables credited to a settlement horizon, if necessary, as a guarantee of the payment obligations of the the next horizon up to the date of collection of the previous horizon. Such retained quantities shall be considered as a cash guarantee of the receiving agent. In addition, the receivables of an agent in the daily market on the first day of the horizon are considered to be valid as a guarantee of purchases on the last day of the previous horizon from the 6th intraday.

In the event that an agent cedes charging rights to third parties, it must indicate the percentage of the same that it assigns to each receiver through the System and Information of the Market Operator. In such a case, the staff member himself must indicate what percentage of his collection rights he or she spends for himself. Any changes to those percentages shall have no effect on dates whose appeal on the daily market has already occurred.

(e) Certificate of Insurance of Solidarity provided by insurance institution resident in Spain or branch in Spain of non-resident entity, authorized by the Directorate General of Insurance and not belonging to the group of the taker of the insurance, in favour of the Market Operator, as insured, in which the insurer recognises that its obligation to pay under it is at first requirement, totally abstract, without the insurer being able to oppose any exception to avoid the payment to the Market Operator and, in particular, no loss of the underlying relationships between the insurer and the policyholder. In particular, the non-payment of the premium will not entitle the insurer to terminate the contract, nor will it be extinguished, nor will the insurer's coverage be suspended, nor will it be released from its obligation to comply with the contract. the payment by the policyholder.

The payment from the guarantee executed must be made in such a way that the Market Operator can make it effective at first request and within the maximum period of one business day in the square of Madrid following the moment in which requires the payment of the insurer.

Even if guarantees are to be executed, the Market Operator will always have documents to formalize guarantees for the payment obligations due and the liquidation of which has not yet been carried out.

For these purposes, in the execution of guarantees, the Market Operator will always retain the original of the guarantees presented, which may be reduced in its amount by the guarantor in the part of the guarantees that it has been executed.

The Market Operator may reject or limit collateral, credit lines, credit lines or security insurance if the bank is a guarantor or, where applicable, the insurance institution does not achieve a minimum credit rating -granted by at least one of the following rating agencies, Standard & Poors, Moody's or Fitch-equivalent to the corresponding one given by the same credit rating agency to the Kingdom of Spain, in force at any time, minus one level.

The credit rating may be below that of the debt of the Kingdom of Spain minus one level provided that at least one "investment grade" rating is given by the same credit rating agency.

In relation to collateral, lines of credit or security of caution provided to the Market Operator that do not comply with the above condition, or those that cease to comply with a downgrade of their rating, The Market Operator may, where appropriate, require each of the agents who have formalised such security, by means of which it is satisfied, that they are replaced by another valid guarantee on the basis of the following criterion:

• Guarantees below the credit rating of the debt of the Kingdom of Spain minus two levels or without a credit rating: it must be replaced in 10 working days.

• Guarantees with the credit rating of the debt of the Kingdom of Spain minus two levels: it must be replaced within two months.

Any modification of a warranty already provided to the Market Operator will be considered as new for the purposes of applying this rule.

If the guarantor or insurer is declared to be in suspension of payments or bankruptcy, or the administrative authorization for the exercise of its activity has gone without effect, the obligation to provide security must replace the security by another, in the same or other form of the same as in this Rule within ten working days of the date of the change in the situation of the guarantor or insurer.

50.6.2 Period of validity of the guarantees: The Market Operator shall release the security provided by the agent on the production market at the time of request, provided that it has fulfilled all obligations arising from their participation in the market.

The guarantees of operation shall be considered valid only for the appeal corresponding to the day "d" if its validity is extended, at least, to the tenth calendar day after the end of the settlement horizon to which it belongs the day "d".

50.6.3 High, Low or Collateral Modification Communication: Agents will ask the Market Operator, through the Market Operator Information System, for any alteration of their warranties, whether they are in cash as they are through any bank or insurance institution document.

In case of high or upward modification, the Market Operator will proceed to its acceptance once verified that the data in the application match the guarantees effectively provided by the agent.

In the event of a request for a return or a change to the downside, the Market Operator will proceed to the same once it is established that the guarantee is surplus.

It is a prerequisite for the acceptance of any income, modification or return of the guarantees provided to the Market Operator that the corresponding application is made through the Information System of the Market Operator.

The acceptance and processing by the Market Operator of the agent's application will be governed by the deadlines set out in the "Horarios and Timescales for Agents ' requests" rule.

50.7 Arrangements for the determination of the amount of guarantees and method of their constitution.

50.7.1 Criteria for determining the amount of guarantees to be provided: On the basis of the provisions of the "Guarantees Coverage" Rule, the amount of guarantees each agent must provide at any time determine the Market Operator on the basis of its issued purchase invoices and outstanding drafts, and the issued sales invoices and drafts whose recovery is pending and the beneficiary is the agent.

The agent may also provide additional collateral in the light of the risk period to be covered by the collateral. This shall correspond to the remaining days of the settlement horizon plus the increase to consider the additional days until the effective payment and the next day of which the payment day of the debtors has occurred.

50.7.2 Information on guarantees made available to the agents: In order for the agents to know at all times the amount of credit guarantees that at each moment correspond, and they can estimate if they have enough guarantees of operation for its acquisitions in the market, the Market Operator, will make available to the agents through the information system of the Market Operator, the following permanently updated information:

a) Balance of collateral, or warranty of operation, for the following market sessions with the best information available so far.

b) Parameters for the estimation of the coverage of your offers. This value is indicative and does not assume any responsibility of the Market Operator with respect to the sufficiency or non-guarantees of the agent's operation.

50.7.3 Balance of guarantees: The Market Operator will have the balance of guarantees of each agent for the future days updated at all times, as a guarantee of operation to be considered in the following sessions of (i) an appeal against each market, both at the time of the insertion of tenders and in the case of the verifications prior to the appeal.

An agent's balance of warranties at a given time for a day's appeal shall be formed as the sum of the following seats:

(a) Guarantees presented and accepted by the Market Operator, the date of which is valid for the purchases of that day, in accordance with the rule "Period of validity of the guarantees", which have not been returned to the agent not executed.

b) Daily purchase invoices or, in default, drafts (with negative value), accumulated from the agent on the current horizon and on the previous horizon if day d is equal to or before the day after the payment of the said horizon.

(c) Payments made on account of the payment obligations indicated in the previous point.

(d) the collection rights of the agent itself or received from a third party, as a result of the sales invoices or, failing that, drafts, accumulated in the current horizon and in the previous horizon if the day is equal to or prior to the day of payments for that horizon.

e) Cobros received by the agent (with negative value) corresponding to the previous horizon if day d is equal to or before the day after the payment of that horizon. All charges to which the holder is entitled shall be taken into account irrespective of whether the prorations have been applied.

f) Cobros retained from the agent and which are part of their cash guarantees.

(g) Annotations, with a negative sign, by the value of the purchase offers incorporated in the daily market appeal process or from a session of the intraday market as long as the market is not liquorated, as set out in the 'Basic elements of the daily market appeal procedure' and 'Verification of the completion of guarantees'.

Also, as long as the deadline for disaggregations of a session that has been settled and invoiced is opened, as set out in the rules "Daily market settlement" and "Intraday market settlement", the balance sheet incorporate the following seats to the agents and the units referred to in the second paragraph of the first point of the "Types of Guarantees" rule:

h) Log, with positive sign, for the value of the payment obligations resulting from the settlement of each unit plus applicable taxes and fees.

i) Annotations, with a negative sign, equal to the energy acquired on the appeal by the unit of offer valued at the price of the appeal plus the applicable taxes and quotas.

j) Annotations, with a negative sign, for the value of the receivables resulting from the liquidation of each unit plus applicable taxes and fees.

Seats that originate from agents ' requests through the Market Operator Information System will be accepted and processed in accordance with the deadlines set in the "Horarios and Timescales for Applications" rule. the Agents ".

The seats in points (b) and (d) shall be entered as soon as the settlement is completed after each appeal of a market session.

Payment seats made on the day of payments will be recorded as soon as it is detected that the payment is made. The seats corresponding to the charges on the day of collection shall be recorded at the time from which the process of issuing the order to the bank to carry out the credits begins. At the same time, the charging retention seats shall be entered when they are instated by the Market Operator. This time is set out in the "Horarios and Timescales for Agents" rule.

50.7.4 Determination of warranties.

50.7.4.1. Guarantees of operation and credit: The Market Operator will make available to the agents in its computer system a simulator of the guarantees of operation and credit that the subject may need according to its intended activity in the the market and the recent prices. Such value shall be considered as an estimate being the responsibility of the agent for the appropriate safeguards.

This simulation will allow the subjects who wish to formalize this amount as a guarantee in advance of their participation in the market, and only if this amount becomes insufficient to cover the guarantees of operation necessary for their offers, they should provide additional guarantees.

The criterion for making such an estimate is as follows:

Sea:

CAdn= Daily market purchase forecast in N days with acquisition units

VPdn = Daily market sales forecast in N days with production units.

Cain = Intra-day market purchases forecast in N days with acquisition units. This forecast should take into account the mismatches with respect to the PBF.

VAin = Sales forecast in the intraday market in N days with acquisition units. This forecast should take into account the mismatches with regard to the PBF and, in the case of international programmes, the absence of energy rights to be exported.

CPin = Purchasing forecast in the intraday market in N days with production units. This forecast should take into account the possible failure of the facilities, the mismatches with regard to the PBF and, in the case of international programmes, the absence of energy rights to be imported.

VPin = Intra-day market sales forecast in N days with production units. This forecast should take into account the mismatches with respect to the PBF.

N = N. of days included in the settlement horizon plus additional days until payment plus 1 day.

Pd = Average daily market arithmetic price in the 30 days prior to the calculation day.

Pi = Arithmetic average price of the intraday market in the 30 days prior to the calculation day.

IE1 = Electricity tax, in unit value. It will apply to the company billed under the established rules, which are detailed in the "Electricity Tax" Rule.

IE2 = Coefficient that raises the basis for application of electricity tax.

VAT = Value Added Tax, in unit value. It will apply to the company billed according to the established rules, which are detailed in the "Value Added Tax" Rule.

GC = Credit Guarantee.

The value is calculated:

PA = (CAdn * Pd + (Cain + CPin) *Pi) * (IE2 *IE1 + 1) * (1 + VAT)

PV = (VPdn * Pd + (VAin + VPin) *Pi) * (IE2 *IE1 + 1) * (1 + VAT)

The agent maximum credit guarantee estimate will be:

GC= PA,

and if you give up your charging rights to yourself, it will be:

GC = Max (PA-PV, 0)

Pins = Minimum price between the reference price and the maximum price that the agent expects to offer its purchases

Eofn = Maximum purchase power that the agent expects to bid for day-to-day or intraday market sessions

GO = Operation Warranty

Agent operation guarantees will be:

GO = Eofn *Pins * (IE2 *IE1 + 1) * (1 + VAT)

The total guarantees will be GC + GO.

50.7.5 Cession of receivables: Market players will be able to transfer their receivables from the production market as a guarantee of the payment obligations of any market players as they know. sets the "Warranties formalization" rule.

The Market Operator will make available to the agents in its computer system a simulator for the rights of the subject in accordance with its intended activity in the market and the recent prices. This value shall be considered as an estimate that does not commit the Market Operator to its veracity.

This simulation will allow the agents themselves and those in favor of which they have been formalized a document of cession of collection rights, to estimate the guarantees to contribute by discounting this amount.

The estimated collection right for the agent will be the PV value calculated in the "Operation and Credit Guarantees" rule.

50.7.5.1 Calculation of recognised collection rights which may be transferred to third parties: The charging rights which a market agent may assign to another agent and which shall be considered as valid for the provision of securities shall be the which are in the sales invoices or drafts of the invoices for which it has not yet been recovered.

In the balance sheet of the guarantees, the receivables resulting from the liquidations of the production market of an agent shall be taken into account as a valid and effective instrument of guarantee of a third party.

50.8 Management of warranties.

The Market Operator shall be responsible for the management of the collateral provided, in the interest of the market players, both for the purpose of monitoring the obligations for the establishment and maintenance of the updated guarantees, as from the ordinary property management to which it gave rise or, where appropriate, to the provision of the amounts necessary to meet the guaranteed obligations. The Market Operator shall bear a record in which the rights and obligations relating to those guarantees shall be included in separate headings.

50.9 Performance criteria against defaults.

In the event that an agent in the electricity production market fails, in whole or in part, to any of its payment obligations arising from the transactions carried out on the energy production market The Market Operator shall execute with the utmost diligence and as soon as possible the guarantees constituted in order to ensure compliance with the obligations of the defaulting market agent.

Also, for the purposes of Article 52 of Law 24/2013 of 26 December of the Electrical Sector, if the defaulting agent is a direct consumer on the market, the Market Operator shall immediately communicate such failure, to the Ministry of Industry, Energy and Tourism and to the National Markets and Competition Commission.

50.10 Extended default on payment.

In the event of a prolonged non-performance of the payment obligations by an agent, which is not covered by the guarantees provided by that agent, the Market Operator will address the judicially or by any other means admitted by the legal system, in the name and representation of the sellers in the market. The defaulter will be obliged to pay the overdrafts, with their interests, and all damages caused, which will be distributed among the vendors on a pro rata basis of the charging rights of each seller on the market.

The economic results of such a claim will be delivered by the Market Operator to the sellers, in proportion to the bankruptcy suffered by each of them.

For these purposes, it is considered that there is a prolonged non-performance of the payment obligations by an agent if it takes more than three days from the date the payment is due without having been verified.

50.11 Extended warranty failure.

In the event that the offers for purchase of an offer unit are rejected for lack of guarantees in at least 3 market sessions, either daily or intraday, within a period of 30 consecutive days, it is understood that The application of the treatment to "Prolonged Impairment".

In this case the Market Operator will urge the agent (s) to which the unit of offer is liquidated to increase its warranties by e-mail sent to its contact persons and to those of the operator of the market. offer unit. To this effect, contacts are considered for the issues of Liquidations and Billing or, failing that, the general contacts of the agent.

If, after 10 working days since the sending of such communication, any offer of such unit was again rejected due to lack of guarantees, the Market Operator, prior to the communication to the operator of the unit of (i) an offer by e-mail, may suspend the unit of offer of its participation in the following market sessions until the agent (s) to which that unit of supply is liquidated increase its guarantees in at least 10% of the pre-formalized quantity at the time of the offer unit rejection, including in the computing the rights to be transferred.

The suspension of the offering unit and its subsequent enablement, if any, will be communicated to the System Operator corresponding to the offer zone where the unit is located.

50.12 Lack of constitution or lack of updating of warranties.

The lack of constitution, replacement or update by any agent in the electricity production market of any of the guarantees provided for in these Rules of Market Operation, The market operator will be understood as a settlement order for all transactions in which it has intervened, for all intents and purposes, and the Market Operator will close the transactions in the market. defaulter.

CHAPTER ELEVENTH

Final Rules

Rule 51. th Description of the sequence, schedules, and information exchanges of the hiring sessions.

51.1 Sequence of daily market operations.

The sequence of the daily market operations is set out below, where the indicated hours correspond to the European Central Time (CET).

(a) Before 10:30 hours, the Spanish System Operator will have made available to the Market Operator the notified nominations for the use of capacity rights at the border with the French electrical system prior to the Daily auction of physical capacity rights, to be taken into account by the Market Operator in the bid validation process.

b) Before 10:30, the Spanish System Operator will have made available to the Market Operator the allocations of the daily auction in the interconnection with the French electrical system of physical capacity to take into account the Market Operator in the bid validation process, in case such explicit daily auctions are held.

c) Before 10:30 hours, the System Operators will have made available to the Market Operator information on:

• The best forecast of the demand, referred to complete months and published in the first fifteen days of the month preceding the one to which the forecast refers,

• the situation of the transport network and the partial or total inavailabilities of the units of production or acquisition of electrical energy,

• the maximum import and export capacity in each of the international interconnections, with a weekly horizon, with hourly values,

• the available import and export capacity on each of the international interconnections, for the following day, for consideration in the daily market appeal process,

• the execution of national bilateral contracts with physical delivery or with generic programming units, at their disposal, in order to correctly validate the maximum available supply units.

This information will be made available to market players in terms of their sales and acquisition units.

Information on inavailabilities may be updated at any time until the instant of closing of acceptance of offers on the daily market, in the event of changes in the data.

Capacity information in international interconnections may be updated thereafter, at any time up to 11:40 hours for consideration in the daily market, in the event of modifications to the international interconnections. data.

d) Before 10:30 the Operator of the Spanish System will make available to the Market Operator the information about:

• The execution of bilateral contracts across the international borders of the Iberian system with external systems, at its disposal, with the agreement of the operators of the system involved.

e) Agents may claim the result of the validation of the sales and acquisition offers up to 5 minutes after the closing of the offer acceptance for the corresponding session.

(f) The Market Operator shall carry out the analysis of the claims submitted to the validation process upon receipt of the tenders and the solution thereof, in case the claim is binding, and may be remedied in useful time.

g) At 12:00, the Market Operator will close the period of receipt and validation of the sales and acquisition offers made by the market players for the daily market.

h) From 12:00 hours, and once the analysis of the complaints submitted to the process of validation of bids has been carried out, the process of the appeal will be initiated, unless it is determined in the aforementioned process of analysis that the period of acceptance of bids for some justified cause should be extended.

i) During the process of preparation of bids for the appeal, the validations defined in these rules will be carried out, including the verification of the existence of guarantees that support each offer economically tabled. In the event that the aforementioned validations are not exceeded, the corresponding offer will be cancelled, which will not be considered in the appeal process.

j) Once the previous validations have been made, the appeal of the bids submitted with the Euphemia algorithm shall be executed.

k) Before 13:00 hours, the Market Operator will make available to the System Operators and agents the provisional result of the appeal process with the corresponding confidentiality. At the same time, the information relating to its sales and acquisition units shall be made available to the agents.

(l) Market players will have ten (10) minutes from the date of the release of the provisional result of the appeal process by the Market Operator to make complaints to the Market Operator, which will be processed according to the established procedure. The Market Operator, during this period of time, will be able to raise the incidents that, in his opinion, have occurred in the process. The operators of the system may also raise the existence of one of the established incidents within 10 minutes of the date on which the system operators have been made available of the provisional outcome of the appeal process. by market operators to the outcome of the appeal.

m) Before 13:00 hours, if the results of the daily market appeal have been confirmed by all market operators, they will be firm.

n) The Daily Market Operator will make available to the Market Operator a Deadline before 14:00 hours of each day the prices and volumes of contracts negotiated in each hour in the Daily Market for the day next, as well as the result of the physical delivery process.

or) Before 14:00 hours the Market Operator will communicate to the agents, if any, the existence of any outstanding claims of resolution, or any incidence raised by the Market Operator, which may cause the repetition of the appeal. In this case the sequence of the sequence may be altered as specified in the Schedule Override Rule.

p) Before 14:00 hours, once the process of incorporation of the declared energies by the agents as bilateral contracts to the System Operators has been carried out, these will communicate to the Market Operator the daily program operating base.

q) Before 45 minutes after the publication of the results of the appeal, the agents will have communicated to the Market Operator the disaggregations of the units of sale of those units designated for this purpose.

r) Market players will have fifteen (15) minutes from the end of the communication period for disaggregations to make complaints to them, which will be processed according to the established procedure.

s) In the event that it was necessary to repeat the appeal process, for the reasons set out in previous points, and that, as a result, the basis of the appeal is not consistent with the operational programme, the System operators will repeat the process of incorporating energy from bilateral physical contracts to generate a new operational base programme, based on the new base programme of appeal.

t) Before 16:00, the System Operators will make available to the Market Operator the provisional viable program, which will have solved the technical restrictions foreseen in the system, informing the operator of the market to the data agents for their production and acquisition units.

51.2 Intraday market operations sequence.

Regardless of the daily market's appeal process, the intraday market sessions will be held. At the end of each session of the intraday market, the Market Operator will make available to the System Operators with the corresponding confidentiality the result of the appeal, informing the agents of the data corresponding to its sales and acquisition units. At the end of the technical restrictions solution process, the System Operators will communicate to the Market Operator and the market players the final schedule once the redispatches determined in the process of the process are incorporated. solution of restrictions to the outcome of the appeal.

The sequence of processes at each intraday market session will be as follows:

As long as there are six intraday markets, the opening hours will be 1 7: 00, 21:00, 01:00, 04:00, 08:00 and 12:00, for the first to sixth sessions respectively. In the case of the third intraday market on the day of spring time change, the opening time of the day will be 00:00 instead of 01:00.

The period of receipt of tenders shall be opened according to that timetable and with the sole condition of the prior publication of the final schedule corresponding to the previous intraday market session, for the second sessions of the second the sixth, and in the case of the first session, subject to the publication of the provisional viable programme for the following day.

Prior to the closing of each intraday market session, the Spanish System Operator will communicate the physical rights allocations of capacity to be taken into account by the Market Operator in the process prior to completion. of the appeal proceedings. In the case of non-receipt, it is understood that there is no change in the allocation of capacity rights of the international units compared to the previous market.

The first programming period of the session horizon will start three hours after the scheduled time for the opening of the session, except in the first session of the intraday market, which will start four hours later. of the scheduled time for the opening of the session. The programming horizon shall be extended to all programming periods for which there is a provisional viable programme published.

The duration of the tender receipt period will be forty-five (45) minutes, except for the first intraday that will be one hundred and five (105) minutes.

Agents will be able to claim the result of the validation of the offers of sale and acquisition, which occurs at the time of receipt of the offers, up to five (5) minutes after the closing of the acceptance of bids for the appropriate session.

The Market Operator will have forty-five (45) minutes to publish the provisional outcome of the appeal process; pending complaints or incidents, as indicated in the following point.

The Market Operator shall make available to the system operators the result of the appeal of the intraday markets after the end of the period of claims.

According to the provisions of Royal Decree 2019/1997 of 26 December, market players will have fifteen (15) minutes from the date on which the result of the appeal process by the Operator of the Market for making complaints to the market, which will be processed in accordance with the procedure laid down. In the event of no complaints being received after that period, and without prejudice to any complaints which may be made by the market players, the result of the appeal shall be final. The Market Operator, during this period of time, may raise the incidents that, in your opinion, have occurred in the process.

In the event that there is any outstanding claim for resolution, or any incident raised by the Market Operator, which may cause the appeal to be repeated, the Market Operator may report it up to 15 (15). minutes before the start of the programming horizon for the corresponding session. In this case the sequence of the sequence may be altered as specified in the present rules.

System Operators will have up to fifteen (15) minutes before the beginning of the relevant session horizon to proceed with the resolution of the identified technical restrictions. Immediately thereafter the System Operators shall publish the final schedule, which shall include the result of the resolution of restrictions, and shall communicate it to the Market Operator.

Before twenty (20) minutes after the publication of the results of the appeal, the agents will have communicated to the Market Operator the disaggregations of units of sale of those units designated for this.

Market players will have fifteen (15) minutes from the closure of the disaggregations communication period to make complaints to them, which will be processed according to the established procedure.

51.3 Hourly overrides.

In the event that incidents arise which alter the normal course of any of the mechanisms that make up the appeal proceedings of the daily and intra-day markets, or claims are lodged by the the agents involved in the repetition of any part of the processes, the Market Operator may modify the timing of the sequence of the operations corresponding to these markets, and shall take their best efforts to ensure that this programme is available to market players and System Operators as soon as possible. possible, communicating the new schedules to the market players and the System Operators.

In the event of incidents in any of the processes entrusted to the System Operators, they may modify the schedule of the sequence in the operations after the establishment of the base program, for They shall take their best efforts to ensure that the information on the viable programme to be provided to the agents, in relation to their procurement and production units, is available to them and to the Market Operator prior to the time limit set in Rule 51.1. In the event that this is not possible, they will take their best efforts to ensure that such a viable programme is available to the Market Operator and the relevant information to the market operator at their disposal as soon as possible, communicating the new schedules to market players and the Market Operator. When this situation arises, or the existence of incidents in the Market Operator's processes, and a delay in the time of publication set for the final schedule is foreseeable, the Market Operator may take the decision of suspend the session of the intraday market, or to make an appeal of the full programming horizon for that session, but considering the outcome for some or some of the hours of the horizon to be invalid. by force majeure. The decision to be taken will be communicated to the market players and the System Operators through the Market Operator information system.

When problems with System Operators processes are expected to be delayed by the time of publication set for the final schedule, the system operators will be able to make the decision not to consider the result of the intra-day market appeal for the first or first hours of the programming period. The decision to be taken shall be communicated as soon as possible to the market players and to the Market Operator by means of the means by which the System Operators are established, which is aware of such communication.

51.4 Coordination between market operator and system operators.

For the purposes of complying with the provisions of the legislation in force, both subjects must supply each other with the information listed below through their information systems. Such information shall be contained in files and their format and communication shall be defined by both subjects and made available to market players.

The Market Operator in conjunction with the Spanish and Portuguese system operators will design an emergency mechanism for the exchange of information between System Operators and the Market Operator.

All the information to be exchanged will be made available to the other party as soon as the corresponding market claims process ends, and as soon as the process is finished to the agents, in the part of the information for your acquisition and sales units.

The Market Operator will perform validation of the format and information contained in the files received prior to their incorporation into the Market Operator's information system, so that they are detected. errors in them will be returned to their source for correction.

All information exchange must include the corresponding explanatory detail of the detected error. The deadline during which the corrected file will have to be sent will depend on the file in question, although both the Market Operator and the System Operators will take their best efforts to make the information available immediately for the actual processing of the appeal or process that needs it.

For the relevant information exchanged between the Market Operator and the System Operators, regardless of the system's origin, a confirmation mechanism of information validity is established for each type of market. The mechanisms established will be those agreed between the Market Operator and each of the system operators, and will be published by the Market Operator in the document " Process of confirmation of validity of information exchanged between the market operator and the system operators in a normal and emergency situation with regard to the detection of errors. ' This document shall contain at least the following mechanisms:

-The validity confirmation mechanism of the information in normal situation.

-Emergency mechanism for detecting errors in the daily market information already sent and confirmed.

51.4.1 Information to be provided by system operators to the market operator: The Spanish System Operator will make available to the Market Operator the information necessary for the performance of the processes of the market by means of the methods and formats established in the current version of the document "File model for the exchange of information between OS and OM", agreed between the two operators in relation to the files exchanged between the two, and published by the System Operator.

Likewise the Operator of the Portuguese System, will make available to the Market Operator the necessary information for the realization of the market processes by means of the methods and formats established in the current version of the information exchange agreement agreed between the two operators.

Within the validations that will be carried out, in addition to the above, it will be verified that the submitted programs meet the general-demand balance in each programming period. It will be verified that the program files correspond to the accumulation of the program prior to the redispatches of the program. Any information relating to the energy of a unit, either for purchase or production, shall be verified to be included in the maximum and the minimum declared in the Market Operator information system.

The information sent by the System Operators will be listed below:

51.4.1.1 Daily Market:

-Information on the result of the allocation of capacity rights to the auctions prior to the daily auction of international units in each hour of the programming horizon and in each of the sales units or acquisition with allocation of capacity rights.

-Information on the notifications of capacity usage rights of the pre-market auctions of international units, in each hour of the programming horizon and in each of the units of sale or acquisition with capacity rights allocation.

-In case of being held, information of the result of the allocation of capacity rights of the daily auction in the interconnection with the French electric system of international units in each hour of the horizon of programming and in each of the units of sale or acquisition with allocation of capacity rights. This information will be sent by the Spanish System Operator.

-Information regarding the inavailabilities of the production units. This information will be sent by System Operators whenever this information is updated.

-Demand Forecast File. This file will be sent by System Operators every time your information is updated.

-Information regarding the execution of international physical bilateral contracts and notifications of the use of capacity rights. This information will be sent by the System Operators in the following instants:

• After the pre-market nomination process, the Spanish System Operator will send the accepted executions of bilateral physical contracts that cross the border of France with Spain.

• After the pre-market nomination process, as soon as it is available, and before the closing of the offer acceptance period for the daily market, the System Operators pre-agree with each other, send the accepted executions of international physical bilateral contracts and the notifications of the use of the corresponding capacity rights for the purpose of being able to validate the energy offered by the participating supply units at the same time on the execution of such bilateral contracts.

-Information regarding the execution of national physical bilateral contracts. This information will be sent by the corresponding System Operators.

-Information regarding the nominations of the execution of bilateral contracts as a result of the nominated energies of the actual units and the generic programming units. This information will be sent by the Spanish System Operator.

-Information regarding the nominated energies of the actual units and the generic programming units. This information will be sent by the Spanish System Operator.

-The Daily Operating Base Program (PBF). This file will be the result of the sum to the Basis programme (PBC) and of the bilateral contracts communicated before the closing of the receipt of offers to the daily market, and of the national bilateral contracts communicated to the Operators of the System after closing of receipt of offers to the daily market.

51.4.1.2 Technical constraint solution processes in the operating base program:

-Interim Viable Daily Program (PVP). This file will be the result of the sum of the operating base program (PBF), the alterations to the program due to the technical constraints and their recuse.

51.4.1.3. Definitive viable daily schedule:

-The Definitive Viable Daily Program (PVD). Final programme resulting from the daily market. This program will coincide with the provisional viable daily program (PVP)

51.4.1.4 Intraday Market: Information sent at the time the information is modified:

-Demand Forecast File. This file will be sent by the System Operators when your information is modified.

-Information regarding the inavailabilities of the sales units. This file will be sent by System Operators whenever this information is updated.

Information submitted prior to the opening of the bid acceptance process for the first session of the intraday market, and subsequent sessions whenever you modify your information regarding the previous session:

-Limitations to the possibility of offering to each intraday market: This file contains the limitations to the possibility of offering to the intraday market, in order to meet the security criteria, of each unit of offer separately. The information contained in this file will be consistent with the information contained in the inavailabilities file.

-Zonal limits to the result of the appeal: The System Operators will communicate to the Market Operator Zonal limitations to a set of sales or acquisition units to be considered in the process of appeal.

The procedure used for the communication, at least the files corresponding to the inavailabilities, and the limitations to the possibility of offering in the intra-day market, must be such that it allows to assure System Operators that the file has been validated and received by the Market Operator, according to the time of the Market Operator information system. The Market Operator must also be able to record the contents and time of receipt of the files.

Information submitted prior to the closing of acceptance of bids for the first session of the intraday market, and subsequent sessions whenever you modify your information regarding the previous session:

-Information on the result of the allocation of capacity rights of the international units with the allocation of physical capacity, in the case of the Operator of the Spanish System. This file shall contain the information on the allocation of physical capacity in each hour of the programming horizon and in each of the units of sale or acquisition with allocation of capacity rights.

Information sent after session cassation:

-The final schedule result of each intraday market session (PHF). This file matches the sum of the accumulated program result of the appeal, plus the redispatches of technical restrictions.

-Hours in intra-day market sessions. This file contains the information of the hours in intraday market sessions whose transactions have been cancelled by the System Operators for not having been able to program them for any reason.

51.4.1.5 Coordination of production and acquisition unit information: Any change in information associated with system subjects and programming units managed by System Operators which may affect the processes of the markets must be made available to the Market Operator to act accordingly. The communication procedure for such information shall be agreed between the Market Operator and the System Operators, together with the date of entry into force of the changes considered.

51.4.1.6 Market separation revenue settlement information: The Market Operator will receive from the System Operators the information, per programming period, of the capacities allocated in auctions in the Portugal-Spain interconnection which have not been nominated, with an indication of the holder to which they correspond. Such information shall be received within the reporting process for the daily market.

51.4.2 Information to be provided by the market operator to the system operators: The Market Operator will make available to the System Operator with the appropriate confidentiality the necessary information for the performance of its management processes using the methods and formats set out in the most up-to-date version of the document "File model for the exchange of information between OSs and OM", agreed between the Market Operator and both System operators as regards the files exchanged between them, and published by System Operators.

The Market Operator will make available to the System Operators with the appropriate confidentiality, the following information:

51.4.2.1 Daily Market:

-Basis Program (PBC). This file contains the program resulting from the appeal of the daily market. This information shall be made available to the system operators at the time of publication of the provisional results of the appeal.

-Daily market marginal prices. This information shall be made available to the system operators at the time of publication of the provisional results of the appeal.

-Flows in international interconnections. This information shall be made available to the operators of the system at the time of publication of the provisional results of the appeal.

-Daily market offerings. This file contains all valid offers that have entered the cassation process. This information will be made available to the system operators after the confirmation of the base programme of the appeal by OMIE and by the market operators coupled to the Iberian market in the execution of the appeal.

-Order of economic precedence of the daily market. This file contains the relevant information regarding the energy, prices and instants of the reception of the married offers totally, partially married and not married. This information will be made available to the system operators after the confirmation of the base programme of the appeal by OMIE and by the market operators coupled to the Iberian market in the execution of the appeal.

51.4.2.2. Intraday market:

-Incremental result of the cassation of each intraday market. This file contains the incremental result of the intra-day market appeal, in respect of the PVD in the case of the first session or with respect to the previous schedule of the previous market in the rest of the sessions.

-marginal prices resulting from each session of the intraday market.

-Intraday market offerings. This file contains all valid offers that have entered the appeal process.

-Order of economic precedence of each session of the intraday market. This file contains the fully-married, partially married, and unmarried offerings ordered according to the criteria set out in the corresponding rule.

51.4.2.3. Settlement results:

-In compliance with point 1 of the Annex to Royal Decree 1623/2011 of 14 November 2011 regulating the effects of the entry into operation of the link between the peninsular electrical system and the Balearic Islands, and amending other provisions of the electricity sector, the Market Operator shall provide the System Operator with the result of the liquidation of the daily and intraday market that it requires for its consideration in the settlement of the energy in the system electric tile.

Rule 52. The Market Operation Regime.

Corresponds to the OMI, Polo Español, S.A. as Market Operator, the realization of all the necessary functions for the efficient development of the market of electric power production, in particular, of the market daily and the market (i) an intra-day and its corresponding liquidations and, in general, those which are assigned to it by the laws and regulations on the matter.

The Market Operator shall perform its duties in compliance with the laws and regulations governing the electricity production market. In addition, in the operation of the market, it shall act in accordance with the provisions of these Rules of Market Operation and with the information and communication systems integrated into the Market Operator information system.

Market players shall act on the market by complying with the laws and regulations, and in accordance with the provisions of these Rules of Procedure and the information systems and integrated communication in the market operator information system.

For the purposes of compliance with these Rules of Operation and, in particular, in this Rule, the Market Operator will make available to market players the documentation associated with the Market Operator information, to be used by the Market Operator, as well as modifications and new releases that are published.

The Market Operator will not be responsible for the consequences of the actions involving market players or third parties, nor for those arising from the application of these Rules of Procedure and the systems. information and communication integrated into the market operator information system. Nor will the Operator of the Market be liable for consequences arising from circumstances outside its direct control, cases of force majeure or fortuitous nature, the indirect consequences of the actions and operations developed in the electricity production market and the risks arising from the operation of the electricity production.

52.1 Claims to market processes, to liquidations and to billing.

52.1.1 Notifications: Any notifications other than the normal market operation based on the information system, to be made by virtue of these Market Operating Rules will be in the direction of the parties listed in the heading of the relevant Accession Contract. However, the parties may vary the place of receipt of the notifications by means of the notification to the other with seven (7) working days in advance of such a change.

Notifications must be made by any means that are aware of the content of the communication and its receipt.

52.1.2 Market Operator Claims Presentation: Market players will be able to claim both the result of the validations and the outcome of the different markets, as well as the liquidations, in accordance with the set in these rules in each case.

The claims submitted by the agents, integrated within the sequence of the Market Operator's processes, will have the effects set out in the corresponding rules. The other claims will be equally answered by the Market Operator, but will not have the above effects.

The claims process will be as follows:

Claims will be made through the IT application of the Market Operator system intended for this function.

Claims will be known to all agents, except those who for their sensitive information content, the agent decides to establish as confidential. The claimant agent at any time can change the degree of confidentiality of a claim. The Market Operator shall respect the confidentiality character stated in the complaint, but may request that it be justified.

Adopted by the Market Operator the decision arising from the complaints and information received from the agents, will continue the process until its completion, without prejudice to the reiteration of the complaint by the agent interested at a later time, with the corresponding effects.

Agents will have at all times access to claims made by themselves and those declared as non-confidential by the other agents.

The Market Operator information system will indicate the date and time of each writing on the claim text, as well as the identification of who made it.

The Market Operator's information system will ensure that neither the agent nor the Market Operator can alter information previously entered into the claim.

The Market Operator maintains vigilance for the proper participation of the agents in the market. The use of these control or surveillance mechanisms does not imply exoneration for the performance of bad or improper operations by the agents.

52.2 Horarios and deadlines for Agents ' requests.

The Market Operator will publish the following schedules in the Market Operator Information System:

1. Receipt and record of entry of warranties and requests documents.

2. Processing of the requests of the agents made through the Market Operator Information System.

3. Start of the process of communication to the bank of the credits to be made on the day of collection.

You will also publish the maximum processing deadlines for the various agents ' requests made through the Market Operator Information System.

Rule 53. th Entry into force, duration, and modifications of the market operating rules.

1. The Rules of Operation of the Market shall enter into force on the date set forth in the resolution of the Ministry of Industry, Energy and Tourism which approves them, in the terms laid down in Article 27.3 of Royal Decree 2019/1997, of 26 of December, by which the market for the production of electrical energy is organized and regulated and shall remain in force for an indefinite period without prejudice to the amendments referred to in this rule, except that the Law or its implementing rules establish a term of duration for the same or have its termination.

2. Without prejudice to the proposed capacity of the National Commission for Markets and Competition, by virtue of the provisions of Article 27.3 of Royal Decree 2019/1997 of 26 December 1997 on the organisation and regulation of the production market It is up to the Market Operator to present to the Ministry of Industry, Energy and Tourism, for approval, proposals for modifications to the Rules of Market Operation that it considers appropriate for the best implementation of the provisions of the Law of the Electrical Sector and its implementing rules.

The Operator of the Market will be obliged to present to the Ministry of Industry, Energy and Tourism proposals for modification of the present Rules of Operation of the Market in those cases where it is necessary to comply with What is established by the Law or its implementing rules in force at any time, who will decide on the report of the National Commission on Markets and Competition.

Similarly, the Market Operator, on its own initiative and after report of the Market Agents Committee will review these Rules when appropriate. The report of the Committee of Market Agents shall be issued within 15 days of the time limit being reached. Similarly, the Market Operator will present to the Ministry of Economy the proposed changes to the Rules of Market Operation that the Committee of Market Agents will present.

In any case, the adherence of each market player to the Market Operating Rules is, also, to all modifications that may be made to them under the terms of this Rule.

3. In any case, the Market Operator may issue the instructions necessary for the best application of the Rules of Market Operation, which must be met by the sellers and buyers participating in the production market. of electric power. In particular, the Market Operator may develop user guides for the effective use by the market players of the IT systems that the normal operation of the electricity production market requires. It may also make public, for general knowledge, practical or technical criteria for the application of the current regulation.

Rule 54. The applicable law and conflict resolution.

Spanish laws will apply to these Rules of Market Operation.

The conflicts which may arise in the application of these Rules of Market Operation shall be resolved in accordance with the provisions of Article 12.1.b.2. of Law No 3/2013 of 4 June of the establishment of the Commission National of Markets and Competition. Disputes, disagreements, complaints and differences that may arise in this field, which should not be the subject of a conflict of economic and technical management, due to their indisponible and public order, respecting the powers of the National Commission of the Markets and the Competition, they submit, with renunciation to any other judge or tribunal that may be competent, or to the arbitration of the said Commission, in accordance with the provisions of article 5.1.b) of Law 3/2013, 4 of June, the creation of the National Commission of the Markets and the Competition, or the arbitration of law that held in the city of Madrid by three arbitrators, in accordance with the rules of the UNCITRAL and with Law 60/2003, of 23 December, of Arbitration, and, therefore, with submission to the award that is given. The parties shall agree on the system of arbitration to be followed, that is to say, if the National Commission of the Markets and the Competition or the three arbitrators are present in accordance with the rules of the UNCITRAL for such an arbitration process. Where it is not possible to reach such an agreement after six months, the court shall issue the court for the interested party. The parties agree to submit any differences between them which, by legal imperative, cannot be submitted to arbitration, to the Courts and Tribunals of the City of Madrid, with the resignation of any other judge or tribunal that may result competent.

ANNEX II

CONTRACT OF ADHERENCE TO THE RULES OF OPERATION OF THE DAILY AND INTRADAY MARKETS FOR THE PRODUCTION OF ELECTRICAL ENERGY

From an IMO part-Polo Español S.A. (OMIE)

On the other hand, the Market Agent, which is identified below:

Market Agent Identification

1. Name or social name: .....................................................................

2. CIF: .....................................

3. Address: ..................................................................................................

4. Representation: D. ..............................................................................................., representing ....................................................................., by virtue of powers and powers expressly declared valid, sufficient, current and not revoked.

5. Character: (Holder of Production/Marketer/Consumer Units in Market/Cargas Manager/Representative)

6. Production units ratio: (Applicable only for production unit holders)

EXPOSE

The supradicas, under the provisions of Articles 18.3, 28 and 29 of Law 24/2013, of 26 December, of the Electrical Sector, and of Article 7.1.a) of Royal Decree 2019/1997, for which the Electricity Production market agree to subscribe to the following contract of accession according to the following

CLAUSES

First. Subject of the contract: Acceptance and adherence to the rules of operation of the Market.

This contract is subject to the adherence of the Market Agent referred to above to the Market Operating Rules.

The Agent in the Market declares to know and accept freely, irrevocably and unconditionally the Rules of Operation of the Market, approved by the corresponding Resolution of the General Secretariat of Energy, as well as all of its terms and conditions, it undertakes to comply with them without reservation, restrictions or conditions.

In particular, and without prejudice to the other obligations which, if any, correspond to the Market Agent as established in the applicable regulations, the Market Agent declares to be expressly aware and commits to the compliance with the requirements laid down in the field of guarantees to be provided by those who carry out electrical energy acquisitions and the execution of electricity; the characteristics of the offers for the sale and purchase of electricity; the format and the means of communication of offers for the sale and purchase of electrical energy; of the method of appeal for tenders for the sale and purchase of electricity, all in the daily and intraday markets; and the determination of the final price of the electricity, its liquidation and payment, as well as the corresponding obligations administrative and tax authorities resulting from their participation in the market.

Second. Confidentiality.

The Market Agent and the Market Operator are obliged to observe confidentiality with respect to information that has such a character and to which they may have access as a result of their participation in the Market. Production of electrical energy in terms and with the scope collected in the corresponding Market Rules.

Third. Processing of personal data.

The personal data provided and those that the Agent at any time provides, as a consequence of the contractual relationship established with the Market Operator will be included in an automated data file ownership of the Company and held under its responsibility. The purpose of this file is to register and track the market players, ensuring the connections within the electricity market, as well as the security in the commercial traffic of the company.

The market participant is informed that, among the aforementioned personal data, a recording of the security of the telephone conversations of the natural persons can be carried out at each moment representation of the Agent.

The Agent expressly authorizes the Market Operator for the remission of commercial communications by electronic means or analogous means. The Agent may revoke your authorization through a letter addressed to the company's registered office at the address below, or via the following e-mail address: info@omie.es. consent so that the Market Operator can give its data to Red Electrica de España, S.A. (REE) and the National Energy Networks (REN) and, eventually, other System or Market Operators for the purpose of optimal management of their respective information systems.

The Market Agent may, at any time, access this file in order to exercise the rights of access, rectification, cancellation and opposition regarding your personal data. These rights may be exercised by written communication to the headquarters of OMI-Polo Espanol S. A., in Calle Alfonso XI, 6, 28014 Madrid.

Fourth. Applicable legislation and jurisdiction.

The Spanish Laws will apply to this contract of accession. The parties agree to submit any differences between them to the Courts and Tribunals of the City of Madrid, with the waiver of any other judge or tribunal that may be competent.

Acceptance by OMI-Polo Español S. A. (OMIE) of the Market Agent's adherence described in the heading of this document to this Agreement and to the Rules of Market Operation.

OMI-Polo Español S. A. (OMIE), located in Calle Alfonso, XI, No 6, 28014 Madrid, accepts the adhesion that the Market Agent identified in the heading of this document to the Rules of Operation of the Market, in the terms and conditions expressed in this contract of accession.

Madrid, ......................................... de ......... de 201 ....

IMO Market Agent-Spanish Polo (OMIE)