CNMC adjusts gas remuneration 2024: coefficients and losses affecting your facilities

Key data

If you are a holder of a regasification plant, a transport network or a gas distribution network, this CNMC resolution directly affects you: it determines how much you earn —or fail to earn— based on the actual gas losses recorded in your facility during gas year 2024. The regulatory reference is the Resolution of September 18, 2026 (BOE-A-2026-20732), published and in force since October 5, 2026.

The review is based on corrected final data provided by the system technical manager in March 2026, which has allowed updating the energy balances of each segment of the gas system with greater precision than in the provisional settlement.

What does this regulation establish?

The Spanish gas system inevitably generates gas losses during its operation: in LNG regasification, in pipeline transport and in distribution to the end consumer. These losses are called losses.

The CNMC Circular 7/2021 establishes the methodology for calculating, supervising and valuing these losses, and links its result to the remuneration of facility holders: whoever reduces losses below the reference coefficient receives an incentive; whoever exceeds them sees their remuneration reduced.

This resolution approves an addendum —that is, a supplementary document that updates and corrects the initial calculation— for gas year 2024. The novelty is that it incorporates the corrected final data provided by the system technical manager in March 2026, replacing the provisional data used in the previous settlement.

The difference between the actual losses recorded and the retained losses (calculated with the reference coefficients) determines the net balance that is transferred to the remuneration of each holder.

Economic and operational impact

The economic impact of this resolution is direct on the income statement of gas facility holders. The logic is simple: if your actual losses are lower than the reference coefficient, you receive an economic incentive. If they are higher, your remuneration is reduced.

The coefficient of 0.00% in regasification implies that any gas loss in a regasification plant is considered above the reference threshold, which pressures operators to minimize losses in this segment as much as possible. In practice, it represents a very demanding incentive for operational efficiency.

The coefficient of 0.20% in transport from international connections sets the reference threshold for gas entries from abroad. Transport operators who manage to keep their losses below this level will obtain additional remuneration.

The update with final data from March 2026 can generate retroactive adjustments with respect to provisional settlements already made, both positive and negative, depending on whether the actual data differs from the initially estimated.

Who does it affect?

• Holders of regasification plants: Companies operating LNG terminals in Spain, where liquefied gas is converted into natural gas for injection into the network.
• Holders of transport networks: Companies managing high-pressure pipelines, especially at entry points from international connections.
• Holders of distribution networks: Natural gas distribution companies operating medium and low-pressure networks to the end consumer.
• Financial directors and CFOs of these companies, who must incorporate remuneration adjustments into their regulated income forecasts.
• Regulatory advisors and energy consultants who manage the relationship with the CNMC and gas system settlements.

Practical example

Imagine a company holding a transport network that receives gas from an international connection. During gas year 2024 (October 2023 – September 2024), its total entries from that connection amount to 10,000 GWh.

With the reference coefficient of 0.20%, the retained losses that are considered "acceptable" are 20 GWh (10,000 × 0.20%).

• If the actual losses recorded are 15 GWh (below the threshold), the company has a positive balance of 5 GWh that translates into a remuneration incentive.
• If the actual losses are 25 GWh (above the threshold), the company has a negative balance of 5 GWh that reduces its regulated remuneration.

With the approved addendum, these calculations are updated with the final data provided by the technical manager in March 2026, which can modify the balances with respect to previous provisional settlements. If your company had received a favorable provisional settlement, it is advisable to verify that the final data does not reverse it.

What should companies do now?

1. Review the actual loss data from your facility corresponding to gas year 2024 (October 2023 – September 2024) and compare them with the applied reference coefficients: 0.00% for regasification and 0.20% for transport from international connections.
2. Compare the provisional settlement with the final addendum: Identify whether the final data provided by the technical manager in March 2026 generates positive or negative adjustments compared to what has already been settled.
3. Update regulated income forecasts for fiscal year 2026 incorporating the remuneration adjustments derived from this resolution.
4. Review the internal loss control methodology in light of the applied coefficients, especially in regasification (0.00%), where any loss penalizes remuneration.
5. Consult with the regulatory team or external advisor if the revised balances generate significant discrepancies with respect to expectations, and assess whether it is appropriate to submit objections to the CNMC.
6. Review CNMC Circular 7/2021 to verify that internal procedures for measuring and reporting losses comply with the current methodology, for future settlements.

Official source

Consult complete regulation in official source

Disclaimer: This article is for informational purposes only and does not constitute legal advice. For specific decisions, consult a qualified professional. Source: https://www.boe.es/diario_boe/txt.php?id=BOE-A-2026-20732