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The Iberian Electricity Market (Mercado Ibérico de la Energía Eléctrica (MIBEL)) was established according to an agreement signed by Spain and Portugal in 2004 that came into force the 10 of April 2006. The Technical Committee assists the regulators Council (formed by energy and stock Exchange regulators from Spain and Portugal) and the presidents Committee. The CNMV, within the Spanish Energy Commission, is in charged of the spot market supervision set in Spain and is, also, permanently in contact with the Portuguese Stock Exchange Commission who supervises the futures market established in its territory.