October 31, 2019 / 2:39 PM / 20 days ago

Spain's watchdog takes another step toward cuts on returns for energy regulated activities

MADRID (Reuters) - Spain’s competition regulator proposed on Thursday cuts of 1.6 billion euros ($1.78 billion) on accumulated returns for power distributors, as well as cuts of 672 million euros on returns from power transport, to come into effect in 2020 and last until 2025.

The measures are still pending final approval and are part of a wider package that could also include further cuts to gas grid returns.

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.

Reporting by Andrés González, writing by Ashifa Kassam; Editing by Ingrid Melander

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