L 90/130
EN
Official Journal of the European Union
18.3.2022
(59)
The CRE set the projected authorised revenue by decision, initially for a regulatory period of 2 years.
This first storage tariff was valid in 2018 and 2019 (‘ATS 1’) (18).
The CRE then harmonised the regulatory framework for storage operators with that of other infrastructure tariffs.
The second storage tariff (‘ATS 2’) applies from 2020 for a period of 4 years (19).
(60)
The general approach to setting the projected authorised revenue is the same for the various storage tariffs.
The authorised revenue of storage operators was set ex ante by the CRE on the basis of forecasts sent by operators, which are then adjusted the following year and subject to ex-post audits.
The costs of storage operators are taken into account by the CRE to the extent that they are considered efficient.
(61)
However, given the particularly short deadlines for implementing the reform, a simplified framework was applied for 2018 and 2019.
For these first years, the CRE adopted a tariff framework in which the differences between the projected and actual level of all costs and revenue were adjusted retrospectively.
This mechanism guarantees a tariff level which is ultimately exactly the same as the operator’s actual expenditure and revenue.
For the period 2020-2023, the CRE wished to extend the regulatory principles incentivising storage infrastructure and, after completing its analyses, assumed a stable progression of operators’ costs in a context marked by a downward trend in natural gas consumption.
(62)
According to the method set out by the CRE, projected authorised revenue is equal to the sum of estimated net operating expenses, estimated regulatory capital costs and settlement of the balance of the previous year’s clawback account (‘CRCP’).
Authorised revenue = net operating expenses + regulatory capital costs + clawback account
(63)
Only activities falling within the scope of regulation are taken into account for the calculation of these components.
3.6.1.
Net operating expenses (64)
Net operating expenses correspond to the gross operating expenses (energy costs, external consumption, staff costs, taxes and charges) of an ‘efficient operator’ after deducting operating income (in particular, capitalised production, non-tariff income, profits or losses from the purchase/sale of stored natural gas).
(65)
Given the short deadlines for implementing the reform, the CRE could not determine for the period 2018-2019 whether the operators’ costs corresponded to those of an ‘efficient operator’.
As a result, the costs taken into account during this period ultimately correspond to the actual costs borne by the storage operators, as validated by the CRE.
For the ATS 2 tariff, the CRE implemented an incentivising regulatory mechanism for net operating expenses, with the exception of certain predefined items.
With a few exceptions, any deviation from the operating expenses projected for the ATS 2 period will thus be borne by the operator or accrue to the operator.
3.6.2.
Regulatory capital costs (66)
Regulatory capital costs comprise depreciation of and return on fixed capital.
This item thus corresponds to the sum of the depreciation of the regulated asset base (‘RAB’), the return on fixed capital calculated on the basis of the weighted average cost of capital (‘WACC’) for the RAB already put into service and the cost of the debt for assets under construction (‘AUC’).
Regulatory capital costs = RAB depreciation + RAB x WACC + AUC x cost of debt
(67)
The CRE confirmed that this methodology corresponds to the regulatory practice for regulated facilities in the natural gas and electricity markets in France and Western Europe (20).
(18) CRE decision No 2018-068 of 22 March 2018 on the tariff for the use of the underground natural gas storage infrastructure of Storengy, TIGF and Géométhane from 2018 (délibération de la CRE n°2018-068 du 22 mars 2018 portant décision sur le tarif d’utilisation des infrastructures de stockage souterrain de gaz naturel de Storengy, TIGF et Géométhane à compter de 2018).
(19) CRE decision No 2020-011 of 23 January 2020 on the tariff for the use of the underground natural gas storage infrastructure of Storengy, Teréga and Géométhane.
(20) The CRE bases this comparison on the study Methodologies and parameters used to determine the allowed or target revenue of gas transmission system operators (TSOs), carried out by Economic Consulting Associates (ECA) for the Agency for the Cooperation of Energy Regulators (ACER).