Issuing the strategy that guides companies belonging to OMI Group to be on the cutting edge in terms of innovation in the sector for managing power product markets
This policy applies to all employees, directors, and administrators that perform their professional activities as members of OMI Group's organizational structure, regardless of their position, seniority, or geographical location. To this end, the following will be considered to be companies pertaining to OMI Group: Operador del Mercado Ibérico de Energía Polo Español, S.A., OMIP-Operador do Mercado Ibérico (Portugal), SGPS, S.A., OMI-Polo Español, S.A., OMIClear, C.C.S.A., OMIP-Polo Português, S.G.M.R., S.A., OMIP, S.A., OMEL Diversificación, S.A., and any other of their member companies.
This Innovation Policy outlines and issues the strategy that guides companies belonging to OMI Group to be on the cutting edge in terms of innovation in the sector for managing power product markets and their proper settlement and compensation. To this end, it aims to lead the processes for change in the energy markets by providing new forms of access and participation to different agents that allow them to optimize the processes associated with its performance on the markets and the subsequent settlement and compensation of its transactions on them.
The intent of this policy is to guide technological innovation within OMI Group so that it may contribute to meeting strategic goals and strengthening the positioning of the different companies in their areas of activity. OMI Group understands innovation to be a continual process that is collaborative and held in common, both internally and externally. The process is held in common among the Group's different companies because they must participate in it actively. It is collaborative from an internal point of view because it is a process in which different companies, units, and staff must work together closely in order to achieve the objectives set. It is collaborative from an external point of view because the Group understands innovation to be a process in which different entities in its field must also be involved, especially the suppliers, manufacturers, and consultants who collaborate with the Group's companies and the different universities and technological centers with which it works.
The Innovation Policy is based on the following principles of action:
a) Leading innovation in the processes and activities carried out by OMI Group's companies (market execution mechanisms, settlement processes, compensation processes, and warranty management…), Including the development of tools that allow agents to interact with the markets in a simple, efficient way.
b) Promoting research, development, and innovation (R+D+i) activities within OMI Group in looking toward continual optimization of the activities and processes carried out by the Group's companies.
c) Innovation will also extend to OMI Group's internal corporate processes with the aim of improving coordination of operations and collaborations among the different areas of the Group's companies.
d) Encouraging new ideas and innovative practices, incentivizing and rewarding creative contributions, and developing appealing, motivating work environments.
e) Accepting the risks associated with innovation, assuming the existence of implementations whose final result will be acquiring knowledge and exploring alternative paths for development. Obtaining improvements as a result of innovations carried out that may favor the development of new markets, additional methods of hiring, new attitudes, and more efficient ways for agents to access information, which may contribute to social and economic development of the field in which OMI Group operates.
f) Developing innovative projects to create new market models that favor the development of renewable technologies and the transitional process in energy and the environment.
g) Promoting a technological prospective and surveillance system that, from an external point of view, permits identifying new technologies or advances that can add value to OMI Group; and from an internal point of view, may identify opportunities and challenges for the Group's businesses and detect innovation needs in processes or services that allow it to anticipate technological changes in the market.
h) Encouraging collaboration with tech companies on the cutting edge. Promoting cooperation with universities and the academic world at large, fostering connections that expand OMI Group's capacity for innovation.
i) Expanding on knowledge generated and sharing it within OMI Group so that employees know best practices applicable in their area.
j) Protecting the results of the innovation process, managing intellectual property ethically and sufficiently.