Spain | Urgent measures on energy: Royal Decree-Law 23/2021

Main amendments affecting the mechanism to reduce over-remuneration implemented under Royal Decree-Law 17/2021.

Spain | Urgent measures on energy: Royal Decree-Law 23/2021
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October 28, 2021

On October 27,2021, the Official Gazette of the Spanish State published RoyalDecree-Law 23/2021, of October 26, adopting urgent measures to protect energy consumers and bring transparency into the wholesale and retail electricity and natural gas markets, which introduces significant developments affecting consumers and companies in the sector (“RDL 23/2021”). Below we set out the main amendments affecting the mechanism to reduce over-remuneration implemented under Royal Decree-Law 17/2021.

In view of the pressure placed on the energy markets and the rising prices, RDL 23/2021 is put forward as a follow-up to Royaj Decree-Law 17/2021, of September 14, on urgent measures to mitigate the impact of rising natural gas prices in gas and electricity retail markets (“RDL 17/2021”).

Key aspects

> It strengthens the mechanism to reduce over-remuneration introduced under RDL 17/2021.

> It increases social discount rates on electricity bills.

> It increases a minimum aid extended to beneficiaries of the social discount rates on heating bills.

> It imposes and reinforces information and advertising obligations concerning electricity suppliers.

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October 28, 2021