The debt of the electric system was at the end of 2019 to 16.602 million euros, after having been reduced by 2.249 million euros over the past year. This drop implies a decrease of 11,93% with respect to the 18.851 million euros of 2018.
According to the report on the current state of the debt of the electric system of the Spanish National Commission of Markets and Competition (CNMC), since 2000 and until the financial year 2013, the revenue of the Spanish electrical system were insufficient to cover their costs, thus creating a debt that, at the end of last year, reached the figure of 16.602 million euros. In addition, the CNMC points out that deficit pending of 2005, which amounted to 291,4 million, will be definitely settled with the annuity of 2020.
At present, there are four categories of rights of collection of the debt of the electric system: the Deficit in 2005, the rights of collection of the successful bidders of the second auction of the deficit ex ante, the rights of recovery of the deficit in 2013 and the rights of recovery of the Securitisation Fund for the Deficit of the Electricity System (FADE). The right collection partner to FADE represents 82.8% of the total amount outstanding to 31 December 2019, followed by the right of recovery of the Deficit in 2013, with 13.5%.
For the typology of the holders of rights of recovery of the electrical system, 82.8% of the rights of recovery of the electric system at the end of 2019 corresponds to the FADE, 10.4% is in the hands of financial institutions, or 4.9%, corresponds to vehicles of asset-backed securities foreign and the remaining 2% of the Official Credit Institute (ICO).
In 2014, the system registered for the first time a surplus in the amount of 550,3 million, a situation that has been repeated for the years 2015, 2016, 2017 and 2018, while each year at a lesser amount. So, the surplus is added that has been generated from 2014 until 2018 is of 1.687,5 million euros. Of this total amount, have been used 649,8 million euros. In this way, there is currently a balance in the specific account of the deposit of the surplus of 1,037,7 million plus interest generated.
according To the Law 3/2017, various ministerial orders determined that part of the surplus is used to repay the amounts financed by the societies or groups of societies in the concept of social bond in execution of various statements anulatorias of the Supreme Court. Specifically, the amounts for 2014, 2015 and 2016 by a total of 518,5 million euros.
Equally, in accordance with the regulations, we have spent 120 million euros for aid for investment in facilities for production of energy from renewable sources in territories not peninsular, through the transfer of 60 million to the budget of the Institute for the Diversification and Saving of Energy (IDAE) with effect from the year 2017, and a further 60 million euros with effect from the year 2018.
the Order Also TEC/1303/2018, of 27 November, which is run by various judicial decisions, determined the payment with charge to the surplus of 11.3 million by the refusal of the payment of the add-on of efficiency to wastewater treatment plants, manure.Updated Date: 21 January 2020, 18:00