The CNMC has determined the use of congestion rents generated by the electricity interconnection between Spain and France via the Bay of Biscay for the 2024 financial year. These rents are specifically allocated to fund the interconnection project, following the regime for singular investments with special technical characteristics (Resolution of 20 April 2023). The mechanism allows for the shortfall to be covered by rents from subsequent years if current rents are insufficient, or for any surplus to be incorporated into the calculation of access tolls (Resolution of 20 April 2023).
For the electricity sector and user companies, the resolution ensures continuous funding for the Bay of Biscay interconnection project through the channeling of congestion rents (Resolution of 20 April 2023). The impact on access tolls will depend on whether the collected rents exceed the projected amount, potentially generating surpluses that are integrated into the tariff calculations (Resolution of 20 April 2023).
The tax team reviews your specific situation.