The Iberian Electricity Market Regulatory Council (CR MIBEL) held a meeting to assess its activities in 2025 and to discuss and approve its work plan for 2026. The meeting featured key figures from various regulatory bodies, including José Miguel Almeida from the Comissão do Mercado de Valores Mobiliários (CMVM) and Ángel García Castillejo from the Comisión Nacional de los Mercados y la Competencia (CNMC).

One of the highlights of the 2025 activities was a webinar on financing the energy transition, which took place on December 15, 2025. This event included participation from the Executive Vice President of the European Commission, Teresa Ribera, and involved discussions with representatives from the electricity sector and public-private financial entities from Spain and Portugal.

The council also reviewed public-private initiatives related to an electrical incident that occurred on April 28, 2025, and updated its guide on financial regulation and derivative contracts in the MIBEL, reflecting changes in financial regulations impacting electricity derivatives.

Furthermore, the CR MIBEL engaged in discussions with market participants regarding the design of the electricity market, focusing on flexibility markets and the integration of renewable energy sources. The council monitored the evolution of the MIBEL and the management of interconnections between Spain and Portugal throughout 2025.

In addition to these activities, the CR MIBEL continued its studies on flexibility instruments and the profiles of market participants, with plans to publish findings in 2026. The meeting concluded with the approval of the work plan for 2026.