Regulatory Alerts2013-02-02
Royal Decree-Law 2/2013 of 1 February on Urgent Measures in the Electricity System and the Financial Sector
The Spanish Government issued Royal Decree-Law 2/2013 to address critical imbalances in the electricity system by replacing the Consumer Price Index with a stable index excluding unprocessed foods and energy products for regulatory updates. The decree eliminates premium payments for special regime electricity installations, forcing them to sell energy on the market or accept regulated tariffs, while also adjusting specific tariff structures for innovative solar thermal and other technologies. In the financial sector, the law regulates the treatment of assets issued by the SAREB bank asset management company, allowing them to cover technical provisions up to a 3% limit and excluding unrealized capital gains or losses from solvency margin calculations for insurance entities.