Overview
- The regulator sent the definitive circulars to the Economy Ministry and filed them with the Council of State under an urgent procedure that shortens the opinion window to 15 days.
- The financial return for electricity networks in 2026–2031 is set at 6.58%, up from 5.48% in the current cycle yet below the roughly 7% utilities had sought.
- The framework widens the types of investments eligible for remuneration, including projects that optimize existing assets rather than only new infrastructure.
- The cost-of-debt calculation shifts to a forward-looking approach that uses interest-rate forecasts and recognizes financing expenses such as bond-issuance costs.
- Implementation will be phased over the six-year period to limit the near-term impact on consumer bills, and the same methodology will later be applied to the gas network cycle for 2027–2032.