The Executive and the CNMC shield electrical energy remuneration at 6.58% till 2031 | National and worldwide financial system | EUROtoday

The Official State Gazette has printed this Wednesday a collection of extra provisions that regulate the remuneration of electrical energy corporations within the Canary Islands, Balearic Islands, Ceuta and Melilla for the third regulatory interval, which covers the years 2026 to 2031. According to the official textual content, the monetary remuneration price for manufacturing exercise in these methods has been set at 6.58%, a determine calculated based mostly on the Electricity Sector Law and which seeks to ensure the financial stability of the amenities that function below the extra remuneration regime as a result of particularities of those territories.

This price of 6.58% just isn’t an remoted determine for the island territories because it coincides with that permitted on December 22 by the National Markets and Competition Commission (CNMC) for transport and distribution actions all through the nationwide territory. By unifying this profitability, the regulator and the Government set up a typical monetary framework that represents a rise of 1 proportion level in comparison with the 5.58% in pressure within the earlier interval.

This enhance responds to the calls for of the sector to offset the rise in financing prices and be certain that Spain continues to be a gorgeous vacation spot for the billion-dollar investments vital within the electrical energy grid.

This choice is framed in the necessity to compensate for the additional price of producing electrical energy in remoted and small methods, the place it isn’t doable to reap the benefits of the economies of scale of the peninsula. Historically, producing a megawatt-hour within the Canary Islands or the Balearic Islands is considerably dearer than doing so within the interconnected peninsular system due, amongst different elements, to the dependence on imported fossil fuels and the smaller measurement of the vegetation. This differential, often known as the “extra-peninsular generation extra cost”, is roofed by 50% by the General State Budgets and the opposite 50% by the tolls and fees that every one shoppers pay on their electrical energy invoice, thus guaranteeing {that a} citizen in Las Palmas or Palma de Mallorca pays the identical for power as one in Madrid or Barcelona.

As an distinctive measure for the start of this cycle, the Ministry has determined to increase till February 28, 2026 the deadline to approve the ministerial order that should element all the particular remuneration parameters. Despite this administrative delay, the rules assure that the brand new values ​​may have retroactive impact from January 1, 2026. To keep away from treasury tensions in corporations within the sector throughout the first months of the 12 months, it has been established that the amenities proceed to obtain present settlements on account, continuing to make the pertinent changes and regularizations as soon as the ultimate order comes into pressure.

The setting of this price of 6.58% comes at a time of particular sensitivity for the sector, marked by the transition in the direction of a cleaner power mannequin. Non-peninsular methods are thought of “laboratories” for the power transition, however in addition they current the best technical challenges for the combination of renewables as a result of weak point of their networks. A secure remuneration framework is crucial to draw the mandatory investments in storage – equivalent to hydraulic pumping or large-scale batteries – that may scale back dependence on standard thermal energy vegetation that in the present day nonetheless act as an important backup.

Finally, the regulatory framework reinforces surveillance of the price of power in these territories by a direct mandate to the National Markets and Competition Commission. The CNMC should perform periodic evaluations, not less than each three years, on technology further prices and provide situations for native shoppers. This evaluation is not going to solely search to make sure that the system operates on the lowest doable price, however will even embody regulatory proposals to make sure that {the electrical} methods of the islands and autonomous cities meet nationwide decarbonization goals.