The CNMC approves a Circular to establish a new remuneration structure for natural gas distribution

On 3 April 2020, Spain’s Official State Journal (Boletín Oficial del Estado) published Circular 4/2020, of 31 March, of the National Markets and Competition Commission, which establishes the methodology for remunerating natural gas distribution (the “Circular”). In the Circular, the Spanish National Markets and Competition Commission (Comisión Nacional de los Mercados y la Competencia, or “CNMC”) establishes the remunerative framework applicable to the distribution of natural gas for the second regulatory period (beginning on 1 January 2021 and ending on 31 December 2026), replacing the framework applicable up to that date, as established in Annex X of Law 18/2014, of 15 October, on the approval of urgent measures for growth, competitiveness and efficiency (“Ley 18/2014”). Read more