Banc Sabadell | Gas and electricity suppliers and oil companies will have to contribute €1.871 billion to the National Energy Efficiency Fund (FNEE) in 2026, which represents an 83% increase compared to 2025, according to press reports.
Of the listed companies, Repsol will make the largest contribution (€440 million), followed by Endesa (€223 million), Iberdrola (€163 million) and Naturgy (€161 million), representing 52% of the estimated contribution between the four. The proposal will be in the consultation phase until 16 January 2026.
We would like to remind you that the FNEE was created in 2014 to meet energy saving targets, and it means that companies with polluting emissions have to contribute an annual fee based on their sales. However, up to 92% of this fee can be offset by the purchase of Energy Saving Certificates, in addition to the subsidies granted by the fund itself to renewables covered by the subsidy scheme.
Assessment: Negative news that we do not expect to have an impact until it is confirmed.
