SPAIN’S National Commission of Markets and Competition (CNMC) watchdog has drawn up 13 new regulations for the energy sector after lawmakers approved the creation of more rules last week.
CNMC is planning to introduce new rules on the calculation of energy transfer and distribution costs, the operation of the wholesale electricity market and the management of natural gas movements.
It comes as the Congress of Deputies approved a government decree granting the CNMC new powers to supervise energy markets that have broadened the scope of its remit. Its ability to sanction firms has also been strengthened.
The CNMC said it was aiming to submit its proposals for new energy regulations to lawmakers by the summer with a view to bringing them into force next year.
The decree which expanded the CNMC’s powers was designed to bring the regulator into line with EU rules which require internal energy market watchdogs to be completely independent.
It is set to see the CNMC oversee the payment, storage and distribution of electricity and natural gas throughout Spain and the internal markets for both.
The new rules propose standards for compensation methods for firms in the internal market, as well as remunerations.
Prices and tolls are set to be approved by the CNMC after it has approved methodologies, according to the regulator.
The CNMC was created in 2013 as the successor to the National Competition Commission. It regulates all markets to prevent them from being monopolised and supervises energy, electronics and communication, rail and airport prices and postal services.