Energy Companies' 2026 Obligation to Contribute 1.87 Billion Euros to National Energy Savings System
The government has recently announced a public consultation on the draft Order establishing energy savings obligations, compliance through energy saving certificates, and minimum contributions to the National Energy Efficiency Fund for 2026. This regulation defines the amount energy companies must save in the upcoming year, with a notable record of 1.871 billion euros in total contributions.
According to the proposed energy savings targets for 2026 within the National Energy Savings Obligation System (SNOEE), the collective contribution should amount to 810 kilotonnes of oil equivalent (ktoe) towards annual final energy savings goals. The programs funded through the Fund for Energy Efficiency (FNEE) and the Certification System of Energy Savings (CAE) fall under this framework.
Financial considerations reveal that for 2026, each kiltoe of energy saved is valued at approximately 2.31 million euros, or about 198,624 euros per gigawatt hour (GWh). This represents a 5% increase from the current year, reflecting intensified efforts towards energy efficiency objectives.
In total, energy companies are expected to save around 9,420 GWh, translating into a mandatory contribution of 1.871 billion euros. However, most of this obligation will be fulfilled through certificates of energy savings (CAEs), with only a minimum of 149.6 million euros allocated directly to the National Energy Efficiency Fund, depending heavily on CAE transactions.
During 2026, obligated entities have the option to fulfill up to 92% of their obligations via CAEs, provided they meet specific regulatory conditions. This flexibility underscores the essential role of CAEs in achieving energy savings targets efficiently and cost-effectively.
Large energy corporations are the primary stakeholders impacted by these regulations. Among them, Repsol faces a responsibility of over 400 million euros, making it the largest contributor, followed by Moeve with 212 million euros and Endesa with more than 200 million euros. Iberdrola and Naturgy also have significant shares but are positioned further behind in obligation size.
This regulatory framework emphasizes the pivotal role of major energy firms in national decarbonization and efficiency initiatives, aligning corporate strategies with government goals for sustainable energy development and climate action.