Naturgy Capital Markets S.A. Statement re draft gas/electricity regulations (3331T)
November 13 2019 - 11:50AM
UK Regulatory
TIDM43XA
RNS Number : 3331T
Naturgy Capital Markets S.A.
13 November 2019
For immediate release 13 November 2019
Naturgy Finance B.V.
(Formerly Gas Natural Fenosa Finance B.V.)
and
Naturgy Capital Markets, S.A.
(Formerly Gas Natural Capital Markets, S.A.)
as issuers under the
EURO 15,000,000,000 Guaranteed Euro Medium Term Note
Programme
guaranteed by Naturgy Energy Group, S.A.
(Formerly Gas Natural SDG, S.A.)
On 5 July 2019, the National Commission on Markets and
Competition (Comisión Nacional de la Competencia) (the "CNMC")
published first drafts of the regulations that will establish the
remuneration methodology for the transportation and distribution
regulated activities of electricity and gas, including its
estimation of the economic impact of such regulations during the
six-year regulatory period. The new regulation will establish the
remuneration framework from 2020 to 2025 for electricity and 2021
to 2026 for gas.
On 31 October 2019, the CNMC published new drafts of the
regulations regarding electricity transportation and distribution.
On 6 November 2019, a new draft of the regulation for gas
transportation remuneration was also approved and published
thereafter.
The revised drafts of the regulations were published after the
statements made during the consultation period had been reviewed by
the CNMC. The variation of the new impact estimation in the revised
draft of the gas transport regulation has been relevant. All three
draft regulations may still evolve until these are finally
approved, which is expected to take place during the first half of
December 2019.
On 5 July 2019, the CNMC published an estimation of the impact
of the gas distribution remuneration methodology which was
material. The revised version of the draft regulation for the gas
distribution remuneration methodology is still in the review period
and the new draft has not been published as of the date of this
Supplement. Once the CNMC publishes the new version of the draft
regulation, it is expected to update its estimation as it has done
with the three draft regulations mentioned above.
***
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END
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