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CNMC Releases Provisional Settlements for Electricity and Gas Sectors

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The Spanish competition authority has published provisional settlements for the electricity and gas sectors, revealing significant financial discrepancies and trends in energy consumption.

03.02.2026 | Spanish competition authority


The Comisión Nacional de los Mercados y la Competencia (CNMC) has announced the provisional settlements for 2025 in the electricity sector and the gas sector, highlighting key financial figures and trends.

In the electricity sector, the provisional settlement 11/2025 showed a temporary deviation of -1,542.57 million euros, with total revenues of 11,669.32 million euros against costs of 13,211.89 million euros. This resulted in a coverage coefficient of 86.2% due to temporary mismatches between income and costs.

For renewable energies, cogeneration, and waste, the total settlement from January to November 2025 amounted to 4,175.6 million euros, with 4,130.3 million euros covered by the electricity sector and 45.3 million euros from the state budget for specific installations in non-peninsular territories.

In the gas sector, the provisional settlement 14/2025 reported total liquid revenues of 2,004.17 million euros, which is 10.6% lower than the previous year's comparable period. The demand for gas in 2025 reached 311.9 TWh, an increase of 18.8 TWh from 2024.

The second provisional settlement for gas in 2026 indicated revenues of 168.60 million euros, 16.3% higher than the previous year, with a total gas demand of 28.8 TWh, marking a 5.4 TWh increase from 2025.

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