Enagas jumps on positive regulatory framework for Spanish gas companies

Enagas SA

27/03/2026 09:02

** Shares of Spain's Enagas rise around 13%, top performer on Europe's STOXX 600 .STOXX, after Spanish competition watchdog CNMC released a "surprisingly positive draft regulation for gas companies"

** J.P. Morgan says the new regulatory framework for gas companies for 2027-32 is a "big positive surprise for Enagas"

** The broker estimates that on a net basis, Enagas could benefit from as much as €650 mln-€750 mln of incremental revenues in 2027, vs JPM's estimate of a c.€7 mln drop

** JPM also says the proposal would mean a rise of regulated revenues for gas distribution of 3% in the low demand scenario and a 5.5% rise in the central case scenario, vs. the broker's assumed 0.7% drop

** Shares on track for best day since October 2008

 (Reporting by Tiago Brandao)

 ((Tiago.Brandao@thomsonreuters.com;))