Spanish Legal Framework on Renewable Energies. Madrid Energy Meeting June, 2003 Raimundo Ortega Bueno
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1 Spanish Legal Framework on Renewable Energies Madrid Energy Meeting June, 2003 Raimundo Ortega Bueno
2 The Special Regime Framework The Act 54/97, developed by the Royal Decree 2818/98, established a special regime under which renewable energies are included. The special regime differs from the ordinary regime on the following issues: (i) the renewable energy generators are entitled to incorporate their power directly into the system without any obligation to bid into the pool as the distributors have an obligation to acquire their power. (ii) the price for the special regime generators is set up according to the market plus an incentive (premium). 2
3 General Conditions for Wind Plants Non-consumable renewable energies must be used as primary energy. The installed power must be below 50 MW. In insular systems, the Administration may limit the total capacity of producers to a percentage of the corresponding hourly capacity demanded by the isolated system. 3
4 Authorisation procedure Electricity generation under the special regime is subject to authorisation procedure. Authorisations will be granted by the Comunidades Autónomas or, failing those, by the Central Government. Authorisation procedure includes: Declaration of environmental impact. Previous general administrative authorisation. Declaration of public use. Registration in the special regime register. Project performance authorisation. 4
5 Delivery conditions The plant has to enter into a standard contract with the nearest distributor with a minimum term of five years. Most significant rights of the power plants in their relationship with the distributors: (i) to connect their generating sets up in parallel to the distribution company network; (ii) to have access to the pool or to enter into physical bilateral contracts with eligible consumers; (iii) to transfer their output into the system and to receive in return the pool price plus the premium. Plants with an installed power greater than 50 MW must bid into the pool. Wind plants are allowed to incorporate into the system all the power produced by their facilities. 5
6 Economic arrangements Fully registered plants are entitled to sell their electricity production to the distributors at the pool average final hourly price, supplemented by a premium. Facilities whose capacity is under 10 MW may take as the market price the off-peak and the peak prices. The wind plants may choose between the market price plus a premium of 0, Euro/kWh or a total and fixed price equal to 0, Euro/kWh (as of 2003). 6
7 The market in Spain Leading players in wind plants IBERDROLA 48%. Iberdrola will invest more than 2.4 billion Euros over the period , to reach a capacity from this source of 3,800 MW. Following the strategic agreement signed with Gamesa in September 2002, Iberdrola will raise 3,030 MW by December ENERGÍA HIDROELÉCTRICA DE NAVARRA 25%. The EHN group has planned to complete the production of 439 MW of wind power in Spain. It plans to have almost a further 400 MW under production in early And it has confirmed rights for a further 1,094 MW. ENDESA 20%. Endesa currently has 86 projects in operation and 18 under construction. Endesa has foreseen that it will have a stake in an additional 1,700 MW project, of which 93% belongs to renewable energy. UNIÓN FENOSA 7%. ENEL SpA and Union Fenosa have recently reached an agreement under which ENEL will buy an 80% stake in the Spanish company's renewable energy unit Union Fenosa Energias Especiales for 168 million Euros. 7 Breakdown of energy supply & breakdown within renewable Oil Electricity Gas Renewab. Coal Wind Minihidra Biomass Solar
8 Key issues for the future (I) Some Comunidades Autónomas have suspended the concessions of authorisations to install wind plants (i.e. Canarias, Aragón). Are problems with green associations expected to become a major concern in wind plant development (i.e. UK)? Green certificates? More a EU issue. Iberian market delayed due to i) interconnection grids problems and ii) unequal liberalization stage in both the electricity and the natural gas markets. 8
9 Key issues for the future (II) Are premiums still necessary? Some wind plant developers consider premiums only necessary for the start up period. However, the sector seems displeased with the new premiums (which have dropped for the first time, 8%;APPA info/ the premium has lost 30.5% of its value in 5 years). The CNE has advised that the decrease in premiums was not necessary (as it has not yet had an important impact on the tariff), however, it considers advisable: i) to modify the premium calculation system in order to introduce market elements and ii) to increase the incentives to bid into the pool. 9
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