Electricity distribution remuneration 2023: what CNMC sets and how it affects your tolls

Key data

Spanish electricity distributors now have their regulated remuneration set for the 2023 fiscal year, although the resolution arrives with a delay of almost three years. The CNMC Resolution of September 18, 2026 closes the remuneration framework for that year by applying Circular 6/2019 and also incorporates retroactive corrections for the fiscal years 2020, 2021 and 2022 derived from Supreme Court rulings.

For electricity-consuming companies, this resolution is not an unrelated matter: the remuneration that distributors receive is one of the components that make up network access tolls, that is, part of what appears on each electricity bill.

What does this regulation establish?

The resolution regulates how much money companies that own and operate electricity distribution networks in Spain can receive (the medium and low voltage lines that carry electricity to homes and businesses). This is regulated income, set administratively by the CNMC, not by the market.

The key elements established by the resolution are as follows:

• Regulated remuneration for 2023: set by applying the methodology of CNMC Circular 6/2019, which is the current regulatory framework for calculating these revenues.
• Retroactive adjustments for 2020, 2021 and 2022: corrections are incorporated for the remuneration of those three previous fiscal years, motivated by Supreme Court rulings that have modified the amounts previously approved.
• Supply quality incentive pending: the remuneration component linked to improving supply quality for 2023 is not included in this resolution. It remains pending a specific subsequent resolution, because the General Directorate of Energy Policy and Mines has not provided the updated data necessary to calculate it.
• Amounts subject to review: the resolution itself expressly warns that the approved amounts may be modified if court rulings or new judicial decisions alter the remuneration of previous fiscal years on which retroactive adjustments have been applied.

The resolution does not publish itemized global amounts in the official summary, but its economic effect is passed on to the electricity system and, ultimately, to the tolls paid by all consumers connected to the network.

Economic and operational impact

The three-year delay in approving this remuneration has relevant practical consequences for all system actors:

• For distributors: uncertainty about their regulated revenues extends for years, making it difficult to plan finances and invest in network infrastructure. Retroactive adjustments for 2020-2022 can result in either additional payments or refunds, depending on the direction of the Supreme Court rulings applied.
• For business consumers: distributor remuneration is a structural component of electricity tolls. Although the impact on bills is not quantified directly in this resolution, any upward variation in regulated remuneration puts pressure on tolls upward.
• For the regulatory system: the pending supply quality incentive for 2023 adds another future resolution to the regulatory calendar, keeping open the uncertainty about the definitive remuneration framework for that fiscal year.
• Risk of further modifications: the approved amounts are not final. If there are new rulings or court decisions affecting 2020, 2021 or 2022, the 2023 amounts will also be recalculated.

Who does it affect?

• Electricity distribution companies: all holders of distribution installations in Spain. They are the direct affected parties, as this resolution determines their regulated revenues for 2023 and adjustments for 2020-2022.
• Large industrial consumers: companies with high energy intensity that pay significant tolls and for whom any variation in regulated remuneration has direct impact on costs.
• CFOs and financial directors of companies with high electricity consumption: must incorporate the evolution of regulated tolls in their energy cost models.
• Energy advisors and energy procurement consultants: need to know the current remuneration framework to correctly advise on contracts and hedging strategies.
• Electricity consumers in general: indirectly, through the impact on network access tolls that appear on the electricity bill.

Practical example

An industrial company with an annual consumption of 10 GWh connected to the distribution network at medium voltage pays each year part of its electricity bill for access tolls. These tolls include, among other components, the remuneration of distributors set by the CNMC.

If the 2023 resolution incorporates upward retroactive adjustments derived from Supreme Court rulings on 2020-2022, the electricity system must absorb those differences, which can translate into pressure on future tolls. For this company, an increase of just a few cents per kWh in the toll component means thousands of additional euros per year in energy costs.

Additionally, the fact that the supply quality incentive for 2023 remains pending a specific resolution means that the definitive remuneration framework for that year is not yet closed, and could generate a new adjustment once the General Directorate of Energy Policy and Mines provides the necessary data.

What should companies do now?

1. Review the impact on energy costs: if your company has relevant electricity consumption, analyze what part of your bill corresponds to access tolls and how it may be affected by changes in the regulated remuneration of distributors.
2. Monitor pending resolutions: the supply quality incentive for 2023 is pending a specific resolution. Track CNMC publications to learn about the definitive remuneration framework for that fiscal year.
3. Watch for possible new rulings: the amounts approved in this resolution may be modified if there are new Supreme Court rulings on 2020-2022. Keep your analysis of regulated costs updated.
4. Consult with your energy advisor: if you are a distribution company or a large industrial consumer, assess with a specialist the specific impact of retroactive adjustments for 2020-2022 on your financial position.
5. Update cost forecasting models: incorporate regulatory uncertainty (pending resolutions and possible reviews) in your energy cost projections for 2024 and 2025.

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-2026-19941