Gas Losses 2025: CNMC coefficients and their impact on distributor and transporter remuneration

Key data

Distributors, transporters and regasification plants that operated during gas year 2025 (October 2024 – September 2025) already know the result of the loss settlement: the CNMC has approved by resolution the final balances and their impact on the regulated remuneration of each holder. The regulatory reference is the Resolution of 18 September 2026 (BOE-A-2026-20257), which applies the methodology established in CNMC Circular 7/2021.

The mechanism is simple in its logic: each holder has the right to retain a quantity of gas to cover their inevitable technical losses (the retention coefficient). If actual losses exceed that threshold, the balance is negative and is deducted from remuneration. If they are lower, the balance is positive. The economic incentive is clear: reducing actual losses directly improves the regulated result.

What does this regulation establish?

The resolution calculates, for each holder of a gas installation, the difference between the gas actually lost during gas year 2025 and the gas that can legally be retained according to its assigned coefficient. That difference is the "loss balance" and has a direct effect on regulated remuneration.

The retention coefficients applied in each segment of the system are as follows:

A coefficient of 0% in regasification means that any gas loss in the plant is considered an uncovered excess and penalizes remuneration entirely. At the other extreme, low-pressure networks and those fed by satellite plants have the widest margins, recognizing the greater technical difficulty of those segments.

When a distributor's balance is negative (actual losses exceeding the permitted coefficient), that deficit does not fall solely on the holder: it is distributed proportionally among the network users. This mechanism of socializing the negative balance is relevant for traders and large consumers connected to distribution networks.

Economic and operational impact

The economic impact of this resolution materializes directly in the regulated remuneration of each holder. A negative balance is equivalent to a reduction in regulated income: the company receives less than it would have if it had controlled its losses within the permitted threshold.

The segments with the greatest economic exposure are:

• Regasification plants: 0% coefficient, meaning zero tolerance for losses. Any actual loss translates into full penalty on remuneration.
• High-pressure distribution networks (>16 bar): also with 0% coefficient, with no retention margin.
• Transport: reduced margin of 0.20%, covering minimal technical losses in large transported volumes.

Conversely, low-pressure networks (up to 4 bar) and those fed by satellite plants have coefficients of 1.50% and 2% respectively, providing a larger cushion against technical losses inherent to those infrastructures.

The system also generates a positive incentive: if actual losses are lower than the permitted coefficient, the balance is positive and improves the holder's remuneration. This makes loss management a lever for profitability within the regulated framework.

Who does it affect?

• Holders of regasification plants: with 0% coefficient, any loss directly impacts their regulated remuneration.
• Natural gas transport companies: apply the 0.20% coefficient to entries from international connections and regasification plants.
• Natural gas distributors: affected with differentiated coefficients depending on the type of network they operate (low, medium or high pressure, and satellite networks).
• Distribution network users: in case of negative distributor balance, part of the deficit is distributed proportionally among them.
• Traders and large industrial consumers: connected to distribution networks, may be affected by the distribution of negative balances.

Practical example

Imagine a distributor operating a pressure network of up to 4 bar with a gas entry volume of 100 million kWh during gas year 2025. Its retention coefficient is 1.50%, allowing it to retain up to 1.5 million kWh as acceptable technical losses without penalty.

If its actual losses have been 1.8 million kWh, the loss balance is negative by 0.3 million kWh. That excess is valued economically at the regulated gas price and deducted from its remuneration. Additionally, that negative balance is distributed proportionally among its network users.

If, on the other hand, actual losses were only 1.1 million kWh, the balance would be positive by 0.4 million kWh, improving the holder's remuneration. This scenario illustrates why investment in leak reduction and technical control has direct economic return within the regulated framework.

What should companies do now?

1. Review the assigned loss balance: each holder must locate their balance in the resolution and verify whether it is positive or negative, and in what amount it affects their regulated remuneration for gas year 2025.
2. Compare with own actual loss data: compare the gas actually lost with the retention coefficient applicable to each type of installation or network operated.
3. Evaluate the impact on remuneration settlement: quantify the economic effect of the balance (positive or negative) on the regulated income for the exercise.
4. Plan investments in loss reduction: if the balance has been negative, analyze the technical causes and assess investments in leak detection, network renewal or measurement improvement to improve the result for gas year 2026.
5. Inform users affected by negative balance distribution: if the company is a distributor with negative balance, communicate to affected users the proportional distribution mechanism applied.
6. Consult Circular 7/2021: to verify that the methodology applied by the CNMC is correct and, if applicable, exercise the rights of hearing or appeal that correspond.

Official source

Consult complete regulation in official source

Disclaimer: This article is purely informative in nature 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-2026-20257