Investment Return Remuneration CIn 2026: keys for electric companies in non-peninsular territories

Key data

Electric companies with assets in non-peninsular systems now have the remuneration parameters that will determine their profitability in 2026. The General Directorate of Energy Policy and Mines has published through the Resolution of April 30, 2026 (BOE-A-2026-10652) the values of the investment return annuity (CIn) for category A installations in the Canary Islands, Balearic Islands, Ceuta and Melilla.

Entry into force is retroactive to January 1, 2026, which requires affected companies to immediately review their financial models and investment planning for the current fiscal year.

What does this regulation establish?

The resolution sets the values of the CIn annuity (investment return remuneration) applicable during fiscal year 2026 to category A installations located in the electrical systems of Spanish non-peninsular territories.

The CIn mechanism is the economic compensation that the electrical system recognizes to companies for investments made in electrical infrastructure in isolated territories. These territories are not connected to the peninsular grid and require their own generation and distribution systems, with structurally higher costs.

The territories and electrical systems to which this resolution applies are:

• Canary Islands
• Balearic Islands
• Ceuta
• Melilla

The published values serve as the basis for the settlement of extra-peninsular electrical system costs during 2026. This means they are the reference parameter used by settlement organizations to calculate the compensation corresponding to each company.

Economic and operational impact

The publication of CIn 2026 values has direct consequences in two critical areas for companies in the sector:

1. Financial planning for fiscal year 2026

CIn values determine the level of remuneration income that companies can expect from their category A assets in non-peninsular systems. Since they have effects from January 1, 2026, any forecast prepared before the publication of this resolution must be reviewed and updated.

2. Asset profitability and investment decisions

Investment return remuneration is an essential component in the profitability analysis of electrical assets in isolated territories. The new CIn values directly affect:

• The expected return on investments already made in category A infrastructure
• The economic viability of new investments planned for 2026 and subsequent years
• Valuation models for assets in extra-peninsular electrical systems

Companies that do not update their financial forecasts with these parameters may incur significant deviations between their projections and actual income settled by the system.

Who does it affect?

This resolution directly affects:

• Electric distribution companies with category A installations in the Canary Islands, Balearic Islands, Ceuta or Melilla
• Electric generation companies with category A installations in non-peninsular electrical systems
• Financial and planning departments of electric companies operating in these territories, responsible for updating forecasts and profitability models
• CFOs and investment directors who must make decisions about new assets or maintenance of existing ones in extra-peninsular systems
• Financial advisors and consultants providing services to electric sector companies in non-peninsular territories

Practical example

A distribution company with category A installations in the Canary Islands electrical system plans to close fiscal year 2026 with a certain level of remuneration income based on estimates prior to the publication of this resolution.

With the publication of CIn values on May 16, 2026, and given that their entry into force is retroactive to January 1, 2026, the company must:

• Review the CIn values applicable to each of its category A installations in the Canary Islands archipelago
• Recalculate expected remuneration income for all 12 months of the fiscal year, not just for months after publication
• Adjust cash flow forecasts and asset profitability models to reflect the new parameters
• Communicate detected deviations to governing bodies or the board of directors if they are materially significant

The same process applies to companies with assets in the Balearic Islands, Ceuta and Melilla. If a company has presence in several of these systems, it must perform the update exercise for each territory independently, as CIn values may differ between systems.

What should companies do now?

1. Locate and review the published CIn values in the Resolution of April 30, 2026 (BOE-A-2026-10652) for each of the electrical systems where the company has category A installations.
2. Update financial forecasts for fiscal year 2026 with the new remuneration parameters, applying them retroactively from January 1, 2026.
3. Review asset profitability models in the Canary Islands, Balearic Islands, Ceuta and Melilla to detect deviations from previous estimates.
4. Adjust planning for new investments in electrical infrastructure in non-peninsular territories taking into account the CIn values in force for 2026.
5. Coordinate with the regulation department to ensure that CIn values are correctly applied in the settlement processes of extra-peninsular electrical system costs.
6. Document the changes made in financial forecasts and models to have traceability for possible regulatory reviews or audits.