Ministry of Ecological Transition answers CNMC

After the response of the Ministry of Ecological Transition, Enagas and REE remain underweight

Santander Corporate & Investment | The Ministry of Ecological Transition has published its response to the regulator´s (CNMC) proposals for changes to the rules on the gas and electricity transportation and distribution networks and gas storage installations. Based on the four documents presented in CNMC before the 9 August deadline, the Ministry values the regulator´s proposals favourably.

Enagas thinking about investing a billion euros in US listed company

Enagas Thinking About Investing €1 Bn In US Listed Company

The Spanish gas system operator, Enagas, is exploring its options of buying shares in the US listed company Tallgrass Energy. According to various sources in the sector, the public company, whose main shareholder is the state through SEPI, has been working discreetly on this operation since last November. In any case, the process is at a preliminary stage, and there are others interested in the US company.

Electricity futures predict energy prices in Spain will remain high in 2019, with a rise of 8%

Santander revises its recommendation for regulated companies with the new Spanish government

Santander | The arrival of the new government in Spain is good news for the gas and electricity markets, given that it is probable that it will respect the regulatory periods; it appears more focused on the spirit of the law (“fair returns”) than on the application of methodologies (differential over 10 year bonds) and it has the intention of reinforcing the role of the CNMC as an independent regulator.


Spanish consumers are paying the failure of Castor gas project

The Castor Project; Spaniards Are Paying For The Failure Of This Gas Storage Installation

The Constitutional Court has declared null and void the agreement reached by the Spanish government in 2014 to resolve the problem of the Castor gas storage warehouse, the biggest in Spain, and the subsequent controversial €1.350 billion compensation given to the concessionary firm Escal (in which ACS has 66%). The ruling also says the compensation system set up allowing Enagás to charge consumers for the cost of Castor via their gas bill is illegal.