Pedro Amaral Jorge heads central institutions of the Iberian Electricity Market

• Portuguese citizen takes on the lead of the institutions that play a fundamental role in price formation and the progressive integration into the European energy market

• Iberian Electricity Market faces major challenges given the energy transition, the growing electrification of the economy and the large-scale integration of renewables.

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Maria da Graça Carvalho: "The OMIP and OMIE market operators are essential to allow increasingly competitive electricity prices"

The Portuguese and Spanish Governments gave the name Pedro Amaral Jorge the green light to take over as President of the Iberian Market Operator (OMIP and OMIE) following his election by the Iberian Market (OMI) shareholders (OMI).

Pedro Amaral Jorge takes on as of now the head of these institutions, which are crucial to the Iberian Electricity Market (MIBEL)’s functioning. They are also responsible for the electricity negotiation platforms for the spot and forward markets, which play a crucial role in the efficient price formation and the European energy market’s progressive integration, specially focusing on electric.

In the current context, where the energy transition, the economy’s growing electrification, and the large-scale integration of renewables are deeply transforming the way in which the energy markets operate, Pedro Amaral Jorge will play a decisive role in staking the Iberian and European energy system’s competitiveness.

Pedro Amaral Jorge, A mechanical engineer by training, has been in top leadership roles for over 25 years. In the last eight years, he was Chairman of the Portuguese Renewable Energy Association (APREN), while also Vice-President of the European Renewable Energies Federation (EREF), Vice-President of the Portuguese Entrepreneurial Confederation’s Energy Board (CIP), Vice-President of the Portuguese Energy Association (APE), Executive Member of the Board of Directors of the Centre for Training for the Energy Transition (CTE), and Executive Member of the Board of Directors of the Lusophone Renewable Energy Association (ALER)

According to the Minister of Environment and Energy Professor Maria da Graça Carvalho, "the OMIP and OMIE market operators are essential instruments to deepen a true European electricity market, allowing companies and citizens to benefit from increasingly competitive electricity prices". Pedro Amaral Jorge’s election is "great news and shows the reinforcement of the role of market operators at the centre of the energy system’s evolution, offering them the opportunity to promote new products and solutions that respond to the Iberian market’s needs".