Marina Serrano (Zaragoza, 1957), president of AELEC (representing Iberdrola, Endesa and EDP) ensures in an interview with El País and Fifodies that the remuneration methodology proposed by the National Market and Competition Commission (CNMC) for electrical networks in the 2026-2031 period “could complicate” real estate development, which is a capital issue. In the main problem for the Spanish economy.
The capacity of the networks are a key piece to prevent a bottleneck from hindering the expansion of new housing, the key element to end the mismatch between supply and demand that has triggered prices. The saturation of the lines leaves little space to connect new real estate developments, as Aelec and Asprima itself denounced in July, which assured that 6.7 GW requested had not been connected and that prevented progress towards the objective of building at least 250,000 homes per year.
But in addition, Marina Serrano now emphasizes that for electricity the regulator’s proposal is a handicap. “The methodology posed by the CNMC still makes it more complicated by defending the recovery of investment to the invoiced power.” The current proposal of the agency chaired by Cani Fernández, explains the president of Aelec, only remains investment in networks for these urban developments once the contracted power begins to be billed. That is, when these homes are busy and already pay their light bills. Serrano emphasizes that “urban projects have a different complexity from that of other sectors” and “since urbanization begins to live until the houses are inhabited a long period of time.”
“Insufficient” remuneration
But this is just part of the problem for electricity. The president of Aelec points out that the methodology proposed by the CNMC and the financial remuneration rate (TRF) for networks does not accommodate the current financial situation. .
“The formula used to calculate the TRF, which comes from an anterior circular, includes elements that do not accommodate either the reality of the financial sectors or to the comparison with other sectors,” says Serrano and adds that “they should adapt to what other European regulators that pay the networks are doing, and what is applied in other sectors regulated by the CNMC itself, such as telecommunications or Aena ”.
In addition, the president of AELEC points out that in her opinion, the proposal of the regulator “does not meet the government’s energy policy, which said it had to be an incentive for electrification.” “It should be separated from the rates other fossil fuels that emit,” in reference to the retribution proposal for gas networks. To the above adds that the TRF proposal for next year offers much less profitability with respect to the Spanish debt than what contemplated the previous proposal of 2019 and is open to the new remuneration contemplating revisions previously set by inflation and other elements.
In line with the government proposal
As regards the Ministry for Ecological Transition as an energy regulator, it has been much more satisfied. He sees a “good news” the current decree proposal that raises the limits to investment for networks and ensures that its central scenario coincides quite a lot with the investment of 13,500 million euros proposed this month by the department led by Sara Aagesen. Avoid describing irresponsibility that: “Parliament is sovereign.” However, he believes that he should have been validated because it was “positive” and contained “necessary measures”, since it expedited the planning of Electricity and took measures to avoid speculation with the accesses to the network, among other measures.
The president of AELEC recognizes that the increase in the volume of investment in networks and raising their remuneration rate is an increase for the electrical invoice, but ensures that they have analysis that make the increase in electrical demand allow neutralizing said increase. In this sense, he believes that it is key that ripe projects that represent an impulse for job creation and economy are substantiated, but also make the increase in electrical demand – stable in recent years – contributes to dilute the payment of tolls among more future consumers. Not only that, but it allows renewables to avoid discharges, since clean energies are finding that lack of demand sinks the prices of the electricity produced and makes them more unsustainable.
Nuclear and blackout
With regard to nuclear debate, it goes on tiptoe, since that work is done directly by companies and other associations. However, the potential increase in demand also affects the generation. In full debate for the closure of Almaraz planned for 2027, the president of Aelec ensures that the world context has changed radically with respect to the 2019, when the road map of the atomic closures in Spain was agreed. “Due to this change of context, it could be perfectly understood that there was a dialogue in relation to the issue” that “also includes the economic issues to be considered in it.” “There is concern that, as happened with Garoña, Almaraz’s closure can occur irrationally due to a stubbornness or a political pulse, despite being working properly.”
Finally, . In addition, it ensures that all the documentation required by the CNMC has been sent to companies. According to it, it confirms that the entire problem came from a planning failure and that it cannot take responsibility for such a serious incident to the failure of a single center. “It was a hard blow to the sector and for the country,” concludes Marina Serrano.
