Reform of the Energy Savings Certificates: auctions, fewer intermediaries, and more control over operations

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The Government is preparing a deep reform of the Energy Savings Certificates Market (CAE) after three years of operation.

Ecological Transition released a draft decree for public consultation last week that maintains the ordinary buying and selling of certificates as the main mechanism, but incorporates new rules to organize a market that has grown rapidly and opens a second avenue to mobilize investments: energy savings auctions.

The participation process will be open until September 23.

Convert savings into certificates

The system allows converting the savings achieved with an energy efficiency action into certificates that can subsequently be acquired by companies required to meet annual savings targets.

Since its launch, more than 9,400 applications have been submitted, about 7,000 have been resolved favorably, and the certified savings exceed 7,700 GWh, according to data from Ecological Transition. The growth has led the Ministry to review the rules regarding intermediaries, contracts, certificate transmission, deadlines, inspections, and the operation of the registry.

Two auction modalities

The main novelty is the creation of two auction modalities, which will coexist with the ordinary CAE market and in which obligated subjects and delegated subjects can participate.

The first will be the energy savings commitment auctions. The awardee will receive an additional economic premium for executing the committed actions and, once the savings are certified, will retain the generated CAEs, so they will be able to market them later in the ordinary market until their settlement.

The second modality will be the energy savings needs auctions. In this case, an economic amount will be awarded for carrying out a specific action, and the generated certificates will be settled directly, so they cannot be marketed later.

The difference allows the Government to use the auctions to direct investments towards projects that may be less attractive under normal market conditions. Ecological Transition cites as examples actions with long payback periods, electric mobility projects, comprehensive rehabilitation of housing blocks, investments aimed at SMEs or vulnerable populations, and actions that significantly reduce emissions as long as they generate energy savings.

The calls may define which product is auctioned and will use a "pay as bid" allocation system, by which each awardee receives the amount corresponding to their own bid. There will also be reserve and risk prices to limit, respectively, excessively high costs and reckless bids. OMIE will organize the auctions and the CNMC will act as supervisor.

Mobilizing investments that the market does not activate

The reform thus introduces a tool with which the Administration can direct resources towards certain types of savings without replacing the ordinary market.

The auctions may be financed from the National Energy Efficiency Fund (FNEE) and the General State Budgets. Precisely because of the possibility of using public resources, the Ministry plans to request the European Commission to confirm the compatibility of the model with community regulations on state aid.

In the needs auctions, the savings obtained will also be additional to the volume that is distributed annually among the obligated subjects. This allows the new mechanism to be used to increase the savings achieved without deducting it from the ordinary obligations assigned to the companies.

Fewer links between those who save and those who buy the savings

The project also seeks to organize the intermediation that has developed around the CAE. To this end, it expressly incorporates the figure of the savings aggregator, who may acquire ownership of the savings generated by an action and then transfer it to an obligated or delegated subject.

The reform, however, limits to one the number of aggregators that can exist between the original owner of the savings and the obligated or delegated subject that requests the issuance of the CAE. With this restriction, the Government aims to reinforce the traceability of the ownership of the savings before it ends up being converted into a certificate.

The draft also regulates the contract for the assignment of savings, which will serve to document the transmission. The regulation defines final energy savings as an intangible, transferable good with economic value, reinforcing the regulation of a market in which the savings obtained by a company, a community of property owners, or another holder can end up being acquired by agents who need to meet their efficiency obligations.

More requirements for delegated subjects

The reform also raises the requirements to operate as a delegated subject, one of the central figures of the system because it can assume the commitment to obtain and liquidate CAE in front of the obligated subjects.

The project specifies requirements for legal, technical, and economic-financial capacity and expressly prohibits sub-delegation. In this way, a delegated subject will not be able to transfer to another delegated subject the responsibility it has assumed to liquidate certificates.

The minimum content of delegation contracts and the communication obligations to the National Coordinator when modifications or early resolutions occur is also developed. The objective is to identify more clearly who is responsible for the committed savings in each operation.

Operations will leave more trace

Traceability extends to the very buying and selling of certificates. When a transmission of CAE occurs, it must be communicated to the National Coordinator within five business days.

The National Register of Energy Savings Certificates will reinforce its role as a public register and will allow tracking the operations carried out during the life cycle of the certificate. The draft also sets a three-year limit from the completion of an action to be able to register it in the system.

The reform will be accompanied by a comprehensive electronic platform to manage the National Register and the different procedures of the system. OMIE and MIBGAS are authorized to develop and implement this tool and, temporarily, to exercise the functions of operator until the National Coordinator has the necessary means.

More control over an expanding market

The growth of the system will be accompanied by a strengthening of supervision. The project incorporates a specific chapter on inspection, control, and sanctioning procedure, with powers to check files and verify compliance with the obligations of the participants.

Administrative procedures are also modified. The regional managers will have 25 business days to validate standardized actions and 40 days for singular ones, while the deadlines for national resolution and registration will be 30 and 45 business days, respectively. The project also incorporates estimatory administrative silence in the certification and registration procedure.

The result will be a more regulated market than that which emerged with the implementation of the system in 2023: there will still be negotiation of CAE between operators, but it will coexist with publicly funded auctions, greater requirements for certain participants, limits on intermediation, and new tools for traceability and supervision.

More key points, information and questions with FREN

AI-GENERATED CONTENT

What is the parliamentary processing status of the new decree on Energy Saving Certificates and what steps remain for its final approval?

The “new decree on Energy Saving Certificates” you refer to is not, as of today, a royal decree-law subject to validation in the Cortes, but a draft royal decree amending Royal Decree 36/2023, which established the Energy Saving Certificates (CAE) system. This draft is currently in the public consultation and information phase at the Ministry for the Ecological Transition and the Demographic Challenge (MITECO), so it does not yet have parliamentary processing.

According to official information from MITECO itself and the publications found:

  • The CAE system was initially regulated by Royal Decree 36/2023, of January 24, whose text can be consulted in the BOE.
  • In 2026, MITECO promoted a draft royal decree amending that RD 36/2023, to strengthen the CAE system, introduce energy saving auctions, and adapt the regulation to Directive (EU) 2023/1791.
  • This draft has been subjected to prior public consultation and, already in September 2026, to public consultation and information. MITECO's own press release of September 2, 2026, explains that the public consultation of the draft royal decree is open until September 23 (MITECO note).
  • Parliamentary databases do not show any specific royal decree-law on CAE nor a bill on Energy Saving Certificates under processing; only the already effective general framework (RD 36/2023 and development orders) and other royal decree-laws of different content appear.

Therefore, strictly speaking, as of September 8, 2026: there is no ongoing parliamentary processing of a “decree on Energy Saving Certificates”. What exists is a regulatory reform in processing within the Government, still in the public participation phase.

What steps remain for its final approval

Since it is a royal decree (regulation) and not a royal decree-law, the procedure is governmental, not parliamentary. The remaining steps, summarized, are:

  • Closing of the public consultation and information: until September 23, 2026, objections to the draft royal decree amending RD 36/2023 can be submitted.
  • Incorporation and analysis of objections: MITECO must study the contributions received (companies, associations, autonomous communities, citizens, etc.) and, if applicable, modify the draft to reflect the changes it deems appropriate.
  • Mandatory reports and opinions: in this type of regulation it is common to obtain:
    • Internal reports (Technical General Secretariat, other affected ministries).
    • If applicable, opinion of the Council of State, when required by Government and administrative procedure laws.
  • Approval in the Council of Ministers: once the final text is closed, the draft is submitted to the Council of Ministers for approval as a royal decree. This is when the decree is formally adopted by the Government.
  • Signature and publication in the BOE: after approval, the royal decree is signed and published in the Official State Gazette. From that publication, the regulation enters into force on the date provided in its final provision (usually the day of publication or 20 days later).

Throughout this process, the Congress and the Senate do not vote on the royal decree, because royal decrees are government regulatory norms, not laws. Parliamentary control is exercised by other means (control sessions, non-legislative motions, questions, etc.), but there is no “validation” nor “final parliamentary approval” as such.

Only if in the future the Government or groups decide to bring part of this CAE regime to a formal law (for example, through a specific bill or the validation of a possible royal decree-law on the matter) would a full parliamentary process open: validation or repeal in Congress, possible processing as a bill with amendments in Congress and Senate, and final approval of the legal text.

What powers and functions does the Ministry for the Ecological Transition have regarding energy efficiency according to Spanish legislation?

In Spanish legislation, the energy efficiency powers of the Ministry for the Ecological Transition and the Demographic Challenge (MITECO) are mainly articulated through its role as the state energy authority, the role of the Secretary of State for Energy, and the Institute for Diversification and Energy Saving (IDAE), regulated by Royal Decree 18/2014 (IDAE Statute) (BOE), as well as specific regulations such as Royal Decree 390/2021, on energy certification of buildings (BOE), Royal Decree 36/2023, on the Energy Saving Certificates System (BOE), and various ministerial orders for development (for example, Order TED/845/2023 on the catalog of standardized efficiency measures: BOE).

In summary, these regulations assign MITECO the following major functions in energy efficiency:

  • Definition of energy efficiency policy and planning: through the Secretary of State for Energy, the Ministry directs the policy of saving, diversification, and energy efficiency. The IDAE Statute (Royal Decree 18/2014) establishes among its purposes the proposal, adoption, and, if applicable, execution of guidelines, measures, and studies to achieve the appropriate level of conservation, saving, and energy diversification in various economic sectors, in close coordination with MITECO.
  • Normative development and elaboration: MITECO promotes and proposes the basic state standards on energy efficiency in buildings, industry, transport, or energy systems. Clear examples are:
    • The approval of the basic procedure for energy efficiency certification of buildings (Royal Decree 390/2021), which assigns the Ministry and its Directorate General for Energy Policy and Mines competencies to define technical requirements, update calculation criteria, and coordinate the certificate registry.
    • The creation of the Energy Saving Certificates System (CAE) through Royal Decree 36/2023, where MITECO designs the system, establishes the rules for calculating savings, and enables the regulation of catalogs of measures and procedures, developed by orders such as TED/815/2023 and TED/845/2023.
  • Management of energy efficiency programs and aids: the regulations assign MITECO and, very importantly, IDAE the technical and economic management of numerous support programs:
    • The IDAE Statute entrusts it with the allocation and control of subsidies and financial incentives aimed at conservation, saving, and energy diversification, and the possibility to act as own means and technical service of the General State Administration.
    • Various royal decrees (for example, Royal Decree 263/2019, on aids for energy efficiency actions in SMEs and large industrial companies, or Royal Decree 149/2021 for agricultural holdings, cited and developed in IDAE resolutions) designate the Ministry and the Institute as responsible for designing regulatory bases, coordinating with autonomous communities, and monitoring execution.
    • The annual orders on the National Energy Efficiency Fund (such as Order TED/296/2023 or Order TED/197/2025) set the contribution obligations of energy companies, whose management corresponds to MITECO/IDAE.
  • Certification and energy audits: Royal Decree 390/2021 places the Ministry as the reference authority in energy certification of buildings, defining:
    • Basic calculation methodologies and minimum contents of certificates.
    • Requirements for competent technicians and admitted software programs.
    • Coordination of the certificate registry and the centralized registry of energy evaluation reports, developed by resolutions of the Directorate General for Energy Policy and Mines.
    Additionally, the IDAE Statute enables it to provide technical assistance in energy audits and other diagnostic instruments.
  • Monitoring, control, and evaluation of efficiency measures: although immediate inspection authority largely corresponds to autonomous communities, the regulations grant MITECO competencies to:
    • Define basic control procedures (for example, in building certification or CAE).
    • Collect information from energy operators (Order TED/445/2023, on information of charging points).
    • Evaluate results of plans and programs, relying on IDAE as a specialized body in analysis and monitoring of energy saving policies.
  • Coordination with the European Union and autonomous communities: the sectoral efficiency regulation largely responds to the transposition of European Directives. MITECO acts as:
    • Responsible authority before the EU for the application of saving obligations, operation of the CAE System, and reporting of results.
    • Inter-administrative coordination body, through sectoral conferences, mixed commissions, and the very design of aid programs executed by autonomous communities with state or European funds.
  • Energy efficiency in the General State Administration itself: the AGE energy saving and efficiency measures plan is approved by Agreement of the Council of Ministers published by Order PCM/466/2022 (BOE), assigning MITECO a central role in the technical proposal of measures, monitoring compliance, and preparing evaluation reports.
  • International representation and technical support: Royal Decree 18/2014 foresees that IDAE provides technical assistance to MITECO in renewable energies, energy efficiency, and energy transition, which includes participation in international forums, cooperation projects, and contribution to climate and energy commitments assumed by Spain.

Overall, the legislation configures MITECO as responsible for the state strategy and regulation of energy efficiency, while IDAE acts as the technical and managerial arm of programs, subsidies, and specific actions that materialize that policy in various economic sectors and in the public administration itself.

What legal requirements must companies currently meet to operate as delegated entities in the Energy Saving Certificates system?

In the Energy Saving Certificates System (CAE), the figure of the delegated entity is mainly regulated by Royal Decree 36/2023, of January 24, which creates the CAE system, and by Order TED/815/2023, of July 18, which develops its articles 8 to 17 and 20. These regulations set out in considerable detail the legal, technical, and economic requirements for a company to be accredited and operate as a delegated entity throughout the national territory.

Royal Decree 36/2023 defines a delegated entity as any legal person, public or private, accredited by the National Coordinator of the CAE System (Directorate General for Energy Policy and Mines) that can assume, totally or partially, the delegation of obtaining energy savings from one or more obligated parties. Order TED/815/2023 specifies that:

  • The delegated entity must necessarily be a legal person, with a commercial corporate purpose.
  • It must have Spanish nationality, that of another EU member state, or of a third country with a permanent establishment in Spain.
  • It is prohibited to accredit as delegated entities legal persons that may directly or indirectly participate in the design, organization, or management of the CAE System itself, to avoid conflicts of interest.

Regarding technical capacity, the order requires a significant internal structure:

  • At least six professionals with official university degrees (MECES level 2–EQF 6: bachelor's degree, engineering, architecture, etc.) who:
    • either meet the requirements to act as energy auditors according to Royal Decree 56/2016,
    • or hold a valid certificate as energy auditor or manager issued by a certification entity accredited by ENAC (or by a national accreditation body of another member state).
    At least three of these six must demonstrate three years of experience in energy efficiency.
  • Two additional professionals with university degrees in fields of economics, business, marketing, commerce, accounting, tourism, or law, of whom at least one has three years of experience in energy efficiency.
  • Alternatively, if the company can demonstrate three years of prior experience as a delegated entity in another certified savings system of the EU, a staff of eight university graduates is required, four of them with at least three years of experience in certified savings systems. In no case may that experience have been interrupted more than two years before the application.
  • All this capacity must be own personnel on staff; meeting requirements through external personnel is not allowed.
  • The company must have a UNE-EN ISO 9001 quality management system, certified by ENAC (or equivalent European body), whose scope explicitly covers the activity as a delegated entity.

On the economic-financial and solvency level, the order requires:

  • Being up to date with tax and Social Security obligations.
  • Not having filed for bankruptcy, not being declared insolvent, nor being in bankruptcy or disqualified according to the consolidated text of the Bankruptcy Law.
  • Demonstrating own funds exceeding 500,000 euros.
  • For entities with at least three years of prior experience:
    • turnover in energy efficiency services or trading of certified savings of at least 1,000,000 euros in the last three years;
    • a civil liability insurance or financial guarantee with minimum coverage of 1,000,000 euros, covering at least 10% of the total economic value of the commitments and savings needs assumed.
  • For entities with less than three years of experience, the insurance or guarantee must cover at least 2,000,000 euros and 20% of the economic value of the commitments and savings needs.

This civil liability insurance is not a mere formal requirement: its amount determines the maximum capacity of savings commitments that the delegated entity can assume. The National Coordinator controls that accepted delegations do not exceed that available capacity.

Accreditation requires submitting to the National Coordinator, electronically, a formal application accompanied by the deed of incorporation, powers, documentation of the technical staff, ISO 9001 certification, insurance policy, financial statements, and various documents proving experience and solvency. If the company is a category 3 investment energy services company, certified according to UNE 216701 standard, it may substitute much of these specific technical requirements.

Once accredited, the delegated entity is registered in the system's public list and can only fulfill its commitments through CAE settlement (it cannot contribute directly to the National Energy Efficiency Fund). It is obliged to:

  • Maintain at all times its legal, technical, and economic capacity, providing documentation when requested by the Administration.
  • Communicate within a maximum period of ten or fifteen days (depending on the case) any relevant change: modification in delegation contracts, variations in submitted data, etc.
  • Inform the National Coordinator of the execution and modification of delegation contracts with obligated parties, including the volumes of savings delegated per year and other essential aspects.

Loss of any of these conditions implies loss of the status of delegated entity, with a transitional regime to manage CAEs in portfolio and specific obligations to transfer to obligated parties or delegates. Additionally, a reform of Royal Decree 36/2023 is underway to introduce savings auctions and adjust requirements, but, as of today, the criteria described in Order TED/815/2023 remain the core of the current regime.

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