Spanish regulator sets 6.46% return for trunk gas network, regasification

Sept 18 (Reuters) - Spain's energy and competition watchdog CNMC on Friday approved the remuneration framework for gas transport, regasification and distribution for 2027-32, including a financial return of 6.46% for core gas network activities.

• Industry group Sedigas had previously called for changes to the draft remuneration rules.

• Analysts viewed the proposals as more favourable than expected, particularly for Enagas, which runs Spain's trunk gas grid.

• The 6.46% rate will apply to regasification, transport and system operation, while a different rate of 6.87% is set for gas distribution operations related to meter activities.

• The new rate is 12 basis points below the 6.58% return set for electricity transport and distribution for 2026-31.

• The CNMC said the lower gas-sector rate reflects a one-year lag in the calculation period, and factors such as lower investment needs and a declining asset base.

• The gas meter distribution activities rate of 6.87% is 20 basis points above the level initially proposed.

• New gas rules will take effect on October 1, 2026.

(Reporting by Mireia MerinoEditing by Pietro Lombardi and David Goodman)