Thu. Oct 17th, 2019

The CNMC sets the methodology that will cut the remuneration for gas and electricity companies

The advice of the National Commission of Markets and Competition (CNMC) approved late last Wednesday the methodology which will set the retribution rate financial of the activities of transport and distribution of electrical energy and regasification, as well as the transport and distribution of natural gas, as advanced last night The country on your website This is a regulation that will fully affect the electricity and gas companies, which have already announced that they may jeopardize their investments for the future.

The new rule that sets the remuneration will affect the electrical companies from next year until 2025 and from 2021 to 2026 in the case of gas. In principle, it was planned to give the green light only to the regulations that affect the electricity sector because the deadline for its entry into force is shorter.

The modifications have been sent to the Government for the valuation, but its decision is not binding because from now on the criteria set by the regulator. President José María Marín Quemada's mandate, which was placed by the PP, the manager no, has expired. He wanted to leave the post because he was forced to publish these circulars that have raised huge complaints throughout the summer of the two most affected sectors.

The modifications have been sent to the Government for the valuation, but its decision is not binding because from now on the regulator sets the criteria

In principle, it was expected that the remuneration for electricity companies would be reduced by 7% and that of gas, by 17.8%. As for the operators of the system, Red Eléctrica de España was going to suffer a 8.2% cut and the gas operator, Enagás, 21.8%.

Yesterday, the president of Aelec (electrical employer), Marina Serrano, warned of the need for the regulatory conditions that are now set by the CNMC to be “effective for the next six years, and cannot jeopardize the investments of some 30,000 million euros from distributors to achieve the objectives in the year 2030 ”. Those 30,000 million euros, he recalled, "represent almost 2.5% of Spanish GDP."

Serrano also considered that the deadline, with January 1 as the horizon for the entry into force of the new regulatory framework of the CNMC, "is short" for "such an important regulation", although he indicated that Aelec does not ask to extend the deadlines. "The royal decree-law has given a deadline and the regulator wants to comply, as is logical," he said.

The power company asks that the regulatory conditions be “effective for the next six years, and cannot jeopardize investments

For his part, the CEO of CEOE, Antonio Garamendi, stressed the importance of power grids in the energy transition and called for a regulation for the sector that is “predictable, stable and has legal certainty”. Garamendi stressed “the neutrality” of the CEOE in regard to the circulars of the CNMC, but said that such stability in the regulation is necessary to give signals to investors. “For someone to want to invest those millions they have to have some security. We are on that wave, ”he said. In addition, the president of the employers' association also considered it a priority that “political costs” be taken out of the tariff, since they increase the energy bill.

The National Integrated Energy and Climate Plan (PNIEC) of the Government foresees total investments of 236,000 million euros until 2030, of which 42,000 million euros will be in networks and electrification.

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