CORRECTED-Spain proposes cutting fixed returns on gas and electricity transport, distribution [Reuters]
ENAGAS SA UNSP/ADR (ENGGY)
NASDAQ:AMEX Investor Relations:
enagas.es
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Source: Reuters
CORRECTED-Spain proposes cutting fixed returns on gas and electricity transport, distribution - Reuters 2 Min Read (Corrects paragraph 3 to clarify that it only refers to gas, adds cuts to returns on electricity distribution and transport in 4th paragraph) MADRID, July 5 (Reuters) - Spain’s competition regulator proposed on Friday cutting fixed rates of return on the transport and distribution of gas and electricity, calling for a “stable and rigorous” system to calculate how much money power companies can make. Spain regulates income from the transport and distribution of gas and electricity by fixing the rate of return that power companies can make on their investments. On Friday the regulator proposed cutting the returns on the transport of gas by 21.8% and slashing the rate for distribution by 17.8%. It suggested a 7% cut to returns on electricity distribution, and an 8.2% cut for electricity transport. Shares in gas companies Enagas and Naturgy fell 5.8% and 3.1% respectively by
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