CNMC Sets Final O&M Remuneration for Gas Infrastructure 2020-2023: Key Points for Operators

Key data

The holders of singular installations of the gas transport system and the El Musel regasification plant now have the final amounts fixed that correspond to them for operation and maintenance costs for the years 2020 to 2023. The CNMC Resolution published on May 26, 2026 closes the regulatory settlement process for these costs, ending four years of provisional remuneration pending final confirmation.

For the affected operators, this is not a minor administrative procedure: it means knowing with precision whether the regulated income received during those four fiscal years matches what the CNMC considers correct remuneration, or if there are differences that must be regularized.

What does this regulation establish?

The resolution formally recognizes the final remuneration of two differentiated types of costs:

• Operation and maintenance costs of singular installations of the gas transport system for fiscal years 2020, 2021, 2022 and 2023.
• Ordinary operation and maintenance costs of the El Musel regasification plant for the same period.

The regulatory process in the gas sector operates in two phases: first, provisional remuneration is set that the holders receive during the fiscal year, and subsequently the regulator—in this case the CNMC—determines the final amounts by applying the corresponding remuneration methodology. This resolution executes precisely that second phase for a four-year period.

Singular gas transport installations are infrastructures of special relevance to the system, whose remuneration is determined individually by the CNMC, unlike conventional installations that follow general parameters. The El Musel regasification plant, located in Gijón (Asturias), is a strategic infrastructure of the Spanish gas system whose operation and maintenance is also regularized by this resolution.

Economic and operational impact

The economic impact of this resolution materializes in two areas:

For the holders of the installations: The setting of final remuneration can generate adjustments compared to the provisional amounts already received during 2020-2023. If the final remuneration exceeds the provisional, the holder has the right to receive the difference. If it is lower, they must return the excess to the system. These adjustments directly affect the treasury and accounting results of the operating companies.

For the gas system and consumers: The remuneration recognized to the holders of these infrastructures is financed through the tolls of the gas system, which are borne by end consumers of gas. The final settlement of these costs affects the financial balance of the system and, therefore, the future evolution of tolls.

From an operational perspective, the resolution closes four fiscal years with regulatory uncertainty. For the finance departments of the affected companies, this allows them to close accounting provisions related to possible adjustments of regulated income and have certainty about the final cash flows for that period.

Who does it affect?

• Companies holding singular installations of the gas transport system in Spain: operators managing natural gas transport infrastructures classified as singular due to their special relevance or technical characteristics.
• Holder of the El Musel regasification plant (Gijón, Asturias): the company responsible for the operation and maintenance of this plant sees its ordinary costs regularized for the period 2020-2023.
• Gas system managers: to the extent that the final settlement affects the financial balance of the system and the distribution of income among agents.
• Industrial consumers and gas distributors: indirectly, through the impact on gas system tolls that finance these remuneration amounts.

Practical example

Suppose that the holder of a singular gas transport installation received during fiscal years 2020-2023 provisional remuneration for operation and maintenance costs calculated based on regulatory estimates. Once the CNMC applies the final remuneration methodology and compares the audited actual costs with the provisional amounts paid, two scenarios can occur:

• Scenario A — Final remuneration higher than provisional: The company has the right to receive the difference through the gas system settlement mechanism. This additional income must be recorded in the fiscal year in which the resolution is recognized.
• Scenario B — Final remuneration lower than provisional: The company must return the excess received to the system. This may involve a provision or a negative adjustment in results if it was not already anticipated.

In both cases, the finance department must review whether the accounting provisions established during 2020-2023 to cover possible regulatory adjustments are sufficient or must be modified in view of the final amounts set by the CNMC.

What should companies do now?

1. Obtain the full text of the resolution: Access the Resolution BOE-A-2026-11396 and locate the final amounts recognized for each installation and each fiscal year (2020, 2021, 2022 and 2023).
2. Compare final remuneration with provisional remuneration received: The finance department must cross-reference the amounts set by the CNMC with the amounts actually collected during those four fiscal years to quantify the net adjustment.
3. Review accounting provisions: If provisions had been made to cover possible refunds or adjustments of regulated income, verify whether they are sufficient or must be modified based on the final figures.
4. Manage the collection or reimbursement of the adjustment: Depending on the result of the comparison, initiate procedures to receive the difference in favor or to regularize the excess received through the gas system settlement mechanism.
5. Update financial planning: Incorporate the impact of adjustments in the financial statements for fiscal year 2026 and review the assumptions for regulated remuneration for future fiscal years in light of the methodology applied by the CNMC.