Urgent measures for the power sector and the social electricity discount

Automatic summary, not yet reviewed

1. Caps the electricity system's tariff deficit: it sets annual deficit limits for 2009 to 2012 and requires that, from January 1, 2013, access charges cover all regulated costs. Deficits can be transferred to a Fund for the Securitization of the Electricity System Deficit, whose bond issues may be backed by State guarantees.
2. Creates the bono social: a discount on electricity bills for vulnerable consumers under the last-resort tariff, limited to individuals at their primary residence. Electricity generation companies pay for it, and it will be reviewed at least every four years.
3. Shifts the costs of managing radioactive waste, spent fuel and the dismantling of operating nuclear plants to the companies that own them, regardless of when the waste was produced. The electricity tariff stops carrying these costs, and two new fees are created to fund them.
4. Creates the pre-assignment remuneration register: special-regime power installations must register there to access their economic regime, meeting requirements such as guarantees and own funding. They have 36 months to complete final registration or lose the economic right. It does not apply to solar photovoltaic technology.
5. Gives the technical system manager of the gas sector direct authorization for primary transmission pipelines in the meshed network, acting as sole carrier. It also designates the last-resort natural gas suppliers for the peninsula, the Balearic Islands and the Canary Islands.
6. Provides that the extra generation costs of the island and non-peninsular electricity systems be funded through the State General Budget, on a stepped basis up to 100%. It also repeals earlier rules, such as Royal Decree-Lawroyal decree-law A rule with the force of law that the Government passes because it is urgent. It applies from its publication, but the Congreso must validate it within 30 days or it lapses. 11/2007 on emission allowances and the twenty-seventh additional provision of Law 55/1999.

Who it affects

• Vulnerable household consumers: Can qualify for the bono social and pay less on their electricity bill.
• Electricity generation companies: Fund the bono social according to set percentages and face limits in system settlements.
• Owners of nuclear power plants: Pay the costs of radioactive waste, dismantling and closure through new fees.
• Developers of special-regime installations: Must register in the new registry and meet requirements to receive their premiums.
• Last-resort gas consumers: Know which supplier companies must provide their gas.

Words worth knowing

Déficit tarifario (tariff deficit)

The gap between what electricity tariffs collect and the real costs of the electricity system.

Peajes de acceso (access charges)

Charges paid on the electricity bill to cover the system's regulated costs, such as networks.

Tarifa de último recurso (last-resort tariff)

A fixed electricity price set by the State for customers who did not sign up on the open market.

Régimen especial (special regime)

A payment scheme for installations using renewable energy or waste, which received premiums.

Fondo de titulización (securitization fund)

A financial vehicle that turns future collection rights into bonds sold to investors to raise money now.

royal decree-law

A rule with the force of law that the Government passes because it is urgent. It applies from its publication, but the Congreso must validate it within 30 days or it lapses.

decree-law

A rule with the force of law that the Government passes because it is urgent. It applies from its publication, but the Congreso must validate it within 30 days or it lapses.

It summarizes the law as published in the BOE. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries