NERA supported a high-speed train operator in Spain in the regulatory review of network access tariffs. We showed the operator’s margins had suffered from a combination of unforeseen events, such as a demand reduction due to COVID, power price increase, and construction delays.

In the following year, the Spanish regulator CNMC revised the methodology for determining access tariffs. The new methodology is meant to mitigate the impact of such unforeseen events and is expected to considerably reduce tariffs, which, until then, had been among the highest in the EU.

Read the CNMC’s press release here.