The Company is working in an Efficiency Plan 2014-2020 that will intensify the effort made in cost reduction since 2008.
Enagás has made a first calculation of the impact after the publication of the Royal Decree 8/2014, of July, 4th, of urgent measures for growth, competitiveness and efficiency, in which the gas reform is included.
This RD comes into effect as of the date of publication and Enagas calculates an impact of €120 million on average in the revenues of the Company until 2020.
The Company considers that the announced reform will eliminate the existing gas tariff deficit and guarantees the regulatory stability of the sector, with the main objective of reducing the energy prices in Spain and increase the competitiveness of the Spanish companies. In addition, the new regulation guarantees an economically sustainable gas system for the future.
Enagás is already taking the necessary measures with the aim of offsetting the significant impact of the reform on its revenues. The company has been working on its new efficiency plan 2014-2020 since few months ago, and represents an intensification of the effort to reduce and rationalize costs that started in 2008.