February 26, 2021

The electricity deficit stood at 1,070 million euros at the end of 2020 after falling 56.8%


MADRID

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The deficit of the Spanish electricity sector stood at 1,070 million euros in December after falling 56.8% compared to the registered in the same period of 2020 (2,476 million), according to the latest settlement by the CNMC, published this Friday. The Total revenue was 14,858.1 million euros, while costs rose to 16,434.6 million. Given that the income was not sufficient to cover all the recognized costs, the coverage ratio (the ratio between the costs that can be paid with the disposable income and those that should be paid from provisional settlements) was 92.2 %. Consumer demand stood at 208,655 GWh, 7% less in relation to the forecast (225,256 GWh).

In renewable energies, 63,872 installations were liquidated. The accumulated provisional settlement already accounts for the energy generated in the year 2020 (January 1 to December 31) amounts to 6,222.5 million euros (before VAT or equivalent tax).

As a consequence of the temporary mismatches between revenues and costs of the system, the same coverage coefficient of 92.2% has been applied. The amount that must be paid on account to the producers amounts to 693.9.7 million euros (before VAT or equivalent tax).

The provisional settlement on account corresponding to the same period charged to the General State Budgets is 76.8 million euros (before VAT or equivalent tax).

As of the closing date of this settlement 12/2020, revenues have been received from the Public Treasury that allow 100% of this item to be paid to producers from renewable energies, cogeneration and waste located in non-peninsular territories. The amount to be paid on account to these producers in the 12/2020 Settlement amounts to 6 million euros (before VAT or equivalent tax).

Gas sector

Regarding the gas sector, the total payable income declared by the companies fell to 2,646 million euros, 7.1% lower than the same period in 2019. For their part, the payable costs have been 34 million euros, 25.8% lower than those of settlement 12 of 2019.

Additionally, the settlement system has considered the payments derived from articles 66.a and 61.2 of Law 18/2014, 444 million euros, which include the complete amortization of the temporary mismatch of 2016 and the partial amortization of the accumulated deficit of 2014.

Consequently, taking into account the income associated with the 2019 surplus (354 million euros), there is a total net liquidable income of 2,523 million euros. These revenues are 11.6% lower than the revenues from the 12/2019 settlement, which amounted to 2,853 million euros and which included the reimbursement to the gas system of 185.70 million euros of payments related to storage Castor underground.

The total remuneration accredited was 2,787 million euros, 3.3% lower than the previous year. If the credited remuneration and the net payable income are considered, a deficit of 264 million euros is obtained in this provisional settlement 12/2020, compared to the deficit of 31 million euros in the same period of the previous year.

The number of consumers declared by the distribution companies as of December 31, 2020 has risen to 7.98 million, with a year-on-year increase of 36,223 consumers (+ 0.5%), of which 1.59 million are supplied with a tariff of last resource.

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