The CNMC alleviates the financial pressure of electricity marketers in the face of high market prices

MADRID, 26 Sep. (EUROPA PRESS) -

The National Markets and Competition Commission (CNMC) has approved new measures to alleviate the financial burden faced by electricity marketers and direct consumers when they buy electricity on the wholesale market in the face of high market prices.

Specifically, the regulator has given the green light to a procedure that will reduce the guarantees that must be presented to the system operator -Red Eléctrica de España- and will simplify the procedures.

In this way, it is avoided to request some daily monitoring guarantees when the monthly requirement is already met and the intra-monthly additional operation guarantee is eliminated once the procedures approved by the Resolution of August 8, 2022 of the Secretary of State for Energy, reported the agency.

The calculation of monthly energy is also modified for the purposes of calculating guarantees, so that in both cases the most up-to-date consumption information available at any given time is used.

In the last twelve months, the body chaired by Cani Fernández has adopted several resolutions in this regard aimed at reducing the impact of the current context of high electricity prices on the economic solvency of these companies.

In this regard, on November 11 last year, a resolution was adopted modifying the rules of the daily and intraday markets and incorporating a mechanism for advance payment, prior to the issuance of weekly settlements, which allows marketers who buy energy on the market release their payment obligations before the due date of the bills.

Likewise, at the end of November 2021, changes were made to the operating procedures of the electricity system operator to avoid putting the solvency of the market at risk and facilitate the early detection of problems.

The approved proposal has undergone the respective public consultation process by the REE and the CNMC. In addition, it was sent for comments to the General Directorate of Energy Policy and Mines.