- This new methodology, which improves the company’s cash generation for the year and aligns it with the accounting result, demonstrates the Ministry of Ecological Transition’s firm commitment to renewable energy and, especially, biomass.
- The company estimates a positive impact of up to €62 million on cash generation in 2024 compared to what it would have generated with the previous regulation.
On May 31, 2024, the Ministry for the Ecological Transition and Demographic Challenge (MITECO) approved the new methodology for updating the operating remuneration (Ro) of biomass electricity generation plants.
This new methodology, which improves the company’s cash generation for the year and aligns it with the accounting result, demonstrates the Ministry of Ecological Transition’s firm commitment to renewable energy and, especially, biomass.
Ence Energía y Celulosa estimates that the application of this new methodology will have a positive impact of up to €62 M on cash generation in 2024 (depending on the energy finally produced in the year) compared to what would have been generated with the previous regulation. .
This regulation will apply from January 1, 2024, with retroactive effects, both from an accounting and cash point of view. These changes will, therefore, affect the results of the first quarter and the company will reflect them in the presentation of its accounts for the first half of the year.
