PwC calls for legal certainty in Spain to prevent the flight of energy investment


The famous consulting firm based in the United Kingdom and the United States, PwC, sent a message to Spain in a report to which this medium has access. In this he showed his concern about the state of investments in our country’s electrical network, and asked to make a predictable and stable framework WHAT provide legal certainty of investors so that an adequate environment is created that allows all investments to be made. Otherwise, they predict – without the network and access to it – “the new investments expected to be made in the coming years will go to other countries.”

The distributors – namely Iberdrola, Endesa, EDP, Naturgy and Viesgo – have been waiting for a long time for the new financial remuneration of the networks in Spain. An announcement that does not come from the National Markets and Competition Commission (CNMC) and that postpones its investment interest because interest rates are too high and cost inflation This affects all equipment that needs to be introduced to the network. Therefore, a new salary adjusted to that fact is required in the third regulatory period (2026-2032) and, therefore, improves the previous one (2019-2025).

Read Also:  The ELA law continues to contain the deaths and deaths of 2,200 people

The consulting firm warns in its study that “a wage rate that does not reflect the risk of the activity and the current macroeconomic context. putting network investments at risk and therefore the economic opportunity of the ecological transition, as well as the realization of the goals.

But emphasize of obstacles which will prevent the creation of investor appetite for electrical networks in our country. First, now the CNMC does not recognize all the regulated costs and investments declared by distribution companies in their audits and, therefore, they are not included in their salary. If the unit values ​​are updated (investment processes, operation and maintenance and other regulated tasks) in 2025, the network fee will increase by approximately 26%.

In the second place, a law prevents full development in networks. “Royal Decree 1048/2013 limits the annual amount of investment of all electricity distributors that show that not more than 0.13% of GDP every year provided by the Ministry of Economic Affairs and Digital Transformation. In this sense, it is difficult to project large investments in decarbonization while limiting investment in electrical networks, which is the main lever to electrify and decarbonize the economy,” the report said.

Read Also:  'Aftershock' puts human face to maternal health crisis in US

Investment in electrical networks occupies the center of the debate in each of the energy events organized in our country in recent months. In any work – in any sector – it can be seen. Therefore, the study itself defines them as “the main element of the electrical system because it has the capacity to unite all factors and agents: GENERATION traditional, generation from renewable energy, hydroelectric pumping, batteries, NEED industrial and domestic and the supply of electric vehicle charging points. For this the modernizationTHE automation and the digitization in networks.

Investment of 584,000 million

This Tuesday, the European Commission published a document calling for an investment of 584 billion euros in electricity networks. The reason is none other, according to the institution, than the more than visible increase in electricity consumption in the EU, which they estimate will increase by 60% until 2030. ‘Grids must accommodate a more digitized, decentralized and flexible system with millions of rooftop solar panels, heat pumps and local energy communities sharing their resources, including renewables in the ocean, electric vehicles to recharge and growing needs for hydrogen production, “they pointed out. .

Read Also:  The regions criticized the Government for canceling the Sectoral Immigration Conference

Finally, they justify this investment because it is a core plan of the European energy policy: «The networks the backbone of the EU’s internal energy market and the key to enabling the green transition. To help deliver the European Green Deal, the Commission is proposing an action plan with the aim of ensuring that our electricity networks work as they should. more efficient and spread more and faster.”