Spain's gas industry calls for improved remuneration proposals
30/03/2026 15:17
MADRID, March 30 (Reuters) - Spain's gas industry body Sedigas called on Monday for "significant adjustments" to proposed remuneration rules for gas-related businesses through 2032, emphasising the need to guarantee "a sufficient and reasonable remuneration framework". The country's energy and competition watchdog CNMC released late on Thursday two sets of proposals: one for the remuneration of transport and regasification activities and another for gas distribution operations. The former affects mostly grid operator Enagas ENAG.MC, which manages the country's trunk gas network, while the latter is for companies operating local distribution grids, such as Naturgy NTGY.MC. Sedigas, which represents both companies and many others across the gas industry, called for a review of provisions tied to the consideration of the impact of inflation on costs and those tied to some incentives. Analysts have described the proposals as better-than-expected for companies. The draft regulation is "surprisingly positive," J.P. Morgan said in a note last week. "Our very preliminary assessment suggests that the proposed regulation is, in our view, a small positive surprise for Naturgy and a big positive surprise for Enagas," it said, estimating a much better impact on revenue for Enagas compared with J.P. Morgan's estimate. (Reporting by Pietro Lombardi) ((Pietro.Lombardi@thomsonreuters.com;))