Key data
| Regulation | Order HAC/725/2026, of July 7 |
|---|---|
| Publication | July 14, 2026 |
| Entry into force | Not specified |
| Affected parties | Contractor companies with works, supplies or services contracts with Public Administrations subject to price revision |
| Category | Public Sector / Administrative Contracting |
| Period covered | Fourth quarter of 2025 (October-December) |
| Legal basis | Article 103 of Law 9/2017 on Public Sector Contracts |
Contractor companies with public contracts subject to price revision now have available the official indices for the fourth quarter of 2025 (October, November and December). The Order HAC/725/2026, of July 7, published on July 14, 2026, sets the references that must be used to calculate the economic adjustments corresponding to that period, under Article 103 of the Law 9/2017 on Public Sector Contracts.
Ignoring or misapplying these indices has direct consequences: receiving less payment than due, or generating discrepancies with the Administration that delay payments. The time to act is now, with the data already published.
What does this regulation establish?
The Order approves four blocks of price indices applicable to the revision of public contracts for Q4 2025:
- Labour cost indices: salary and labour costs applicable to works and services contracts.
- General materials indices: aluminium, cement, copper, energy and other materials commonly used in works and supplies contracts.
- Specific indices for weapons and equipment materials: for defence material manufacturing contracts.
- Component indices for regular passenger transport by road: personnel costs, fuel and other components applicable to transport concessions.
The most relevant values published for Q4 2025 are detailed below:
| Component | Value / Trend Q4 2025 | Observations |
|---|---|---|
| Copper | 160.44 | Notable increase compared to previous quarters |
| Personnel in transport (December) | 126.37 | Component of personnel costs in passenger transport |
| Aluminium | Included in general materials | Index published for the October-December period |
| Cement | Included in general materials | Index published for the October-December period |
| Energy | Included in general materials | Index published for the October-December period |
| Bituminous materials | Significant decline | Relevant reduction in Q4 2025 |
| Weapons and equipment | Specific indices published | Only applicable to defence material manufacturing contracts |
These indices are published quarterly and are mandatory when the contract includes a price revision clause. They are not advisory: they are the legally valid values for calculating the adjustment.
Economic and operational impact
The impact varies depending on the type of contract and the predominant materials in the agreed revision formula:
- Contracts with high copper proportion (electrical installations, telecommunications, industrial plumbing): the index 160.44 means that the reference price of copper has increased considerably from the base 100. This translates into a significant upward adjustment in the revision.
- Regular passenger transport contracts by road: the personnel index of 126.37 in December reflects the accumulated increase in labour costs. Concessionaires must apply this value to claim the corresponding adjustment for Q4.
- Works contracts with bituminous component (roads, paving): the significant decline in bituminous materials can reduce the amount of the revision or even generate a downward revision if the formula has a high weight of this component.
- Defence contracts: the specific indices for weapons and equipment allow calculating adjustments in military material manufacturing contracts, with differentiated own formulas.
The net effect depends on the polynomial formula agreed in each contract: the weighting of each component determines the final impact on the revised price.
Who does it affect?
- Construction companies with works contracts with Public Administrations that include a price revision clause.
- Material or equipment supply companies to public bodies with multi-year revisable contracts.
- Regular passenger transport concessionaires by road with contracts with price revision.
- Defence sector companies with weapons and equipment manufacturing contracts for the Administration.
- Service companies with multi-year public contracts that include a revisable labour component.
- Financial and legal advisors managing the settlement of public contracts for their clients.
- CFOs and financial directors of business groups with an active portfolio of public contracts.
Practical example
An electrical installation company has a supply and installation contract with a municipality worth €2,000,000 annually, with a revision formula in which copper represents 30% of the total weight.
With a copper index of 160.44 in Q4 2025 compared to a reference base index of, for example, 130 at the time of bidding, the variation of the copper component is approximately 23.4%. Applied to the 30% weight in the formula, the adjustment for this component represents an increase of approximately 7% on the contract price for that quarter.
In absolute terms, on the €500,000 invoiced in Q4 (one quarter of the annual contract), the adjustment for price revision only for the copper component would be around €35,000. Without correctly applying the published index, the company would fail to collect that amount.
For a passenger transport concessionaire, the personnel index of 126.37 in December allows calculating the adjustment of the salary portion of the contract in an analogous manner, applying the weighting agreed in the revision formula.
What should companies do now?
- Identify which contracts have an active price revision clause for Q4 2025 (October-December). Not all public contracts include it: review the specifications and signed contract.
- Locate the polynomial formula agreed in the contract and determine which components (copper, cement, energy, labour, bituminous...) and with what weighting are involved in the calculation.
- Apply the indices published in Order HAC/725/2026 to each component of the formula to calculate the revision coefficient for Q4 2025. The value of copper (160.44) and personnel in transport (126.37 in December) are the most relevant for the affected sectors.
- Prepare the price revision request with supporting documentation and submit it to the corresponding contracting body within the timeframe established by the contract.
- Review the impact of the decline in bituminous materials if the contract has a high weight of this component: the revision could be downward and it is advisable to anticipate it in financial planning.
- Keep documentary evidence of the indices applied and the calculation performed, in case the contracting body requests justification or a discrepancy occurs in the settlement.
Frequently asked questions
What copper index applies to revise public contracts in Q4 2025?
The copper index published by Order HAC/725/2026 for the fourth quarter of 2025 is 160.44. This is the official value that must be used in the price revision formula of public contracts that include this component for the October-December 2025 period.
How is the price revision of a public contract calculated with these indices?
The revision is calculated by applying the polynomial formula agreed in the contract: each component (copper, cement, energy, labour...) has a percentage weight. The index published for the corresponding quarter is taken, divided by the index at the time of bidding, and the weighting of each component is applied. The sum of all components gives the revision coefficient, which is multiplied by the contract price to obtain the revised amount. The legal basis is Article 103 of Law 9/2017 on Public Sector Contracts.
What happens with bituminous materials in Q4 2025?
Bituminous materials register a significant decline in the fourth quarter of 2025 according to Order HAC/725/2026. For works contracts with high weight of this component (roads, paving), this can reduce the amount of price revision or even generate a downward adjustment. It is advisable to calculate it before submitting the revision request.
Do Q4 2025 indices also affect passenger transport contracts?
Yes. Order HAC/725/2026 publishes specific indices for components of regular passenger transport by road. The index of personnel costs in transport reaches 126.37 in December 2025. Transport concessionaires with contracts subject to price revision must apply these values to calculate the Q4 2025 adjustment.
Which public contracts are required to apply these indices?
Only contracts that expressly include a price revision clause in accordance with Article 103 of Law 9/2017 on Public Sector Contracts. Not all public contracts incorporate it. It is essential to review the specifications and signed contract to confirm whether it applies and what the agreed formula is.
Official source
Consult complete regulation in official source
Notice: 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-2026-15367