ACER Opinion 11-2026 on the derogation request submitted by the Spanish National Markets and Competition Authority (CNMC) from the application of the network codes and guidelines

No 11/2026

OPINION

on the derogation request submitted by the Spanish National Markets and Competition Authority (CNMC) from the application of the network codes and guidelines, referred to in Article points from and the exit points to the Medgaz pipeline and the Maghreb-Europe Gas pipeline

30 April 2026

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Executive summary

Pursuant to Article 70(3) of Regulation (EU) 2024/1789 (‘Gas Regulation’), ACER is required to provide the European Commission with a reasoned opinion within three months of the date of receipt of a request for a derogation, submitted by a national regulatory authority (‘NRA’) in line with the aforementioned provision, from the implementation of network codes or guidelines, referred to in Article 70(1) of the Gas Regulation, or specific elements of them. On 4 February 2026, the Spanish National Markets and Competition Commission (‘CNMC’) submitted to the European Commission and ACER a request for a derogation (in Spanish and English) from the application of specific provisions of Commission Regulation (EU) 2017/459 (‘CAM NC’) regarding the Almería and Tarifa entry points from and exit points to third countries (‘network points connected to third countries’). The request concerns a derogation from the application of several provisions of the abovementioned Regulation until 31 December 2032. Specifically, CNMC requests a derogation from the provisions of the CAM NC related to the type of products offered in addition to the CAM NC’s standard products, the provisions on interruptible capacity, the number of products offered in each auction date, the methodology for capacity calculation, the auction calendar, the timings for the notification of capacity offered in the gas yearly auctions, and the publication provisions.

The Spanish gas network connects several types of points. The provisions of the CAM NC fully apply to the Spanish network points with EU Member States. For all other points , CNMC introduced a standardised allocation methodology in 2019. Specifically, the allocation rules for LNG terminals, storage facilities, and network points connected to third countries are aligned to the greatest possible extent to maximise the utilisation of the Spanish gas network. The design and continued implementation of this capacity allocation framework have been endorsed by stakeholders. Furthermore, CNMC has not received any complaints regarding this mechanism since its introduction nor has it received any requests to implement the CAM NC at these points.

This capacity allocation framework was established before the publication of the Gas Regulation. The Gas Regulation, under Article 70(2), includes the entry points from and exit points to third countries in the scope of network codes and guidelines as of 5 August 2026.

The Gas Regulation also acknowledges that specific circumstances may prevent the effective application of network codes and guidelines in the short term, allowing NRAs to submit a request for a derogation to the European Commission, which shall adopt a decision. The Gas Regulation also clarifies that a derogation shall be limited to the specific provisions that cannot be effectively implemented and shall be granted for a limited period of time, i.e. the minimum necessary period to remove the existing obstacles for the application of the network codes or guidelines.

CNMC carried out a public consultation on its draft derogation request in December 2025, which received support from stakeholders.

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The request for derogation of CNMC is of temporary nature, i.e. CNMC requests to continue applying the specific allocation mechanisms for the Almería and Tarifa network points connected to third countries after the legal deadline of 5 August 2026 and until 31 December 2032.

Conclusion

ACER acknowledges the predominant role of LNG in the Spanish gas market and the rationale that brought CNMC to align the capacity allocation design of the Tarifa and Almeria points to the allocation design for LNG and storage infrastructure, set up based on the CAM NC principles. However, based on the elements of the derogation request, ACER considers that it is not possible to objectively assess whether the CAM NC can be fully implemented at these points, nor to assess the potential impact of such implementation on the market after 5 August 2026.

In Section 4 of this Opinion, ACER has analysed the derogation request of CNMC to assist the European Commission in its decision. In this context, and noting that this aspect may be taken into account in the decision of the European Commission, ACER further notes that, taking into consideration the European Commission’s decision and in light of the design established by the European Commission, it will be important for CNMC to conduct a comprehensive public consultation, once the CAM NC is amended, with the results duly published. ACER notes that CNMC agrees with the need to conduct such consultation. This process should focus on the implementation of the revised CAM NC, duly ensuring a timely alignment with the Union gas market.

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1. Background

1 Regulation (EU) 2024/1789 (‘Gas Regulation’) extends the application of network codes and guidelines, referred to in Article 70(2) of the Gas Regulation (‘network codes and guidelines’), to the entry points from and exit points to third countries, namely countries that are not members of the European Union. The principle embedded in the Regulation at issue is the enhancement of the internal gas market by supporting cross-border trade and efficient operations also at the borders with third countries. Applying network codes at these border points helps to avoid market fragmentation and ensures the seamless functioning of the internal market, in particular by guaranteeing consistent rules, non-discriminatory access and efficient cross-border trading conditions, even at the borders of the Union.

2 Article 70(2)(d) of the Gas Regulation lays down that network codes and guidelines, adopted in accordance with paragraph 1 of the same provision, shall apply to all interconnection points within the Union and to entry points from and exit points to third countries from 5 August 2026.

3 Furthermore, Article 70(3) thereof states that until 5 February 2026 national regulatory authorities (‘NRAs’) may submit a request to the European Commission and ACER for a derogation from the application of the network codes and guidelines, referred to in the aforementioned Article 70(1), at entry points from and exit points to third countries pursuant to Article 70(2)(d).

4 ACER shall provide a reasoned opinion to the European Commission within three months of the date of receipt of the request for a derogation. In its reasoned opinion ACER provides an assessment on the request submitted by the NRA. The European Commission shall adopt a decision on the request for a derogation, taking into account ACER’s reasoned opinion and after assessing the existence of the conditions listed in Article 70(3)(a), (b) and (c).

5 Notably, whether the NRA has demonstrated that provisions of a network code or guideline cannot be effectively implemented at an entry point from or exit point to a third country; has taken measures to alleviate obstacles to such implementation; and has shown that the derogation is not detrimental to the internal gas market or to the security of supply of the Union or of a Member State. The derogation shall be limited to specific provisions that cannot be effectively implemented and shall be granted by the European Commission for a limited period of time.

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6 Furthermore, Recital 95 of the Gas Regulation acknowledges that specific circumstances, including the existence of long-term contractual arrangements or legal difficulties in establishing dispute resolution procedures with transmission system operators or natural gas suppliers established in third countries, may prevent the effective application of network codes in the short term.

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2. Procedure

8 On 4 February 2026, ACER received from the Spanish National Markets and Competition Commission (‘CNMC’), in written form (in Spanish and English) via electronic post, a request for a derogation from the application of network codes and guidelines at entry and exit points with third countries pursuant to Article 70(3) of the Gas Regulation. 9 Upon the submission of the derogation request, and after an in-depth analysis thereof, ACER has interacted with the involved NRA to further clarify elements included in the derogation request. ACER took due account of the additional information provided by the NRA in its assessment. 10 On 1 April 2026, ACER shared the draft version of the reasoned opinion with CNMC for a factual check and to verify the completeness of the information provided. 11 On 30 April 2026, ACER adopted this reasoned opinion and sent it to the European Commission in accordance with Article 70(3) of the Gas Regulation following the prescribed timeline.

3. Summary of Derogation Request

12 The derogation request submitted by CNMC refers to the application of Commission Regulation (EU) 2017/459 (‘CAM NC’) at the following entry points from and exit points to third countries (‘network points connected to third countries’): 1) Almería point from the Medgaz pipeline. 2) Tarifa point to the Maghreb-Europe Gas pipeline. 13 For both points, CNMC requests a derogation from the following CAM NC Articles: • Article 6(1)(a) concerning bundled capacity. • Article 6(4) concerning the inclusion of changes on bundled capacity in ACER report on contractual congestions. • Article 8(2), (6), (7), (8) concerning the start of auctions, the reservation of capacity for shortterm and long-term products, and the reservation of incremental capacity. • Articles 11(1), (4), (6), (8) and (9), concerning the auctions of yearly capacity. • Article 12(3), (4) and (7), concerning the auctions of quarterly capacity. • Article 13(2), (3), (4), (6) and (7), concerning the auctions of monthly capacity. • Article 14(2), (3), (4), (5), (6) and (9), concerning the auctions of daily capacity. • Article 15(2), (3), (9) and (10), concerning the auctions of intraday capacity. • Article 19, concerning bundled capacity products. • Article 21, concerning the bundling of capacity in the case of existing transmission contracts.

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• Chapter V (Articles 22 to 31), concerning the offer of incremental capacity .

• Chapter VI (Articles 32 to 36), concerning the offer of interruptible capacity.

14 CNMC derogation request is aimed at maintaining at such points the existing allocation methodology established under CNMC Circular 2/2025, and under CNMC circular 8/2019 earlier, performed via the booking platform ‘SL-ATR’ operated by the Spanish transmission system operator (‘TSO’), Enagás.

15 CNMC states that the reasons for the derogation request are the following:

• As Algeria and Morocco are not bound by the Union energy acquis, mandatory bundling of capacity or coordinated incremental capacity procedures cannot be effectively implemented in the absence of voluntary cooperation by the respective pipeline operators.

• The allocation of capacity at such points is based on the CAM NC but adding more capacity products, which are allocated through the same CAM NC auction design but offering the standardised products in more frequent auctions. Therefore, the capacity allocation mechanism in place improves the one defined in CAM NC in favour of the market and security of supply. It is also fully integrated with the allocation of capacity at LNG terminals and underground storage facilities since 2020. This alignment allows network users and market participants to manage their supply portfolios efficiently, switching between LNG and pipeline capacities in a coordinated and consistent way.

• The allocation methodology follows the same principles and present reduced differences compared to the CAM NC. Nevertheless, it satisfies better market’s needs, as it has been designed based on several consultation processes and offers more products and more frequent auctions than those established in the CAM NC, providing the market with more instruments to respond to volatility.

• CAM NC implementation would lead to users’ confusion and possible mistakes, since different products and calendars would coexist at the same time on the same platform (only interconnection points between EU Member States are offered in a different platform, i.e. PRISMA).

• The design and continued implementation of this capacity allocation framework have been endorsed by stakeholders. Furthermore, CNMC has not received any complaints regarding this mechanism since its introduction nor has it received any requests to implement the CAM NC at these points.

• As for the entry point of Almería, CNMC states that Algeria has become a key and reliable source for the diversification of gas in Europe.

• Implementing CAM NC would require IT and logistical adjustments for regulated operators and network users, which would ultimately be passed on to Spanish and European consumers with no market benefit.

• The request is of temporary nature.

• The CAM NC implementation (which would imply reduction in products and auctions) will result in less user flexibility, potentially impacting on security of supply. This, together with the misalignment and lack of coordination between LNG and IP products, will lead to negative economic consequences for Union and Spanish consumers.

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4. ACER assessment

4.1. Application of CAM NC at the Almería and Tarifa network points connected to third countries

16 The Spanish gas network connects several types of points: interconnection points with EU Member States, network points connected to third countries, biomethane and renewable hydrogen plants, LNG terminals, storage facilities, and domestic points.

17 In 2019 the Spanish Government transferred to CNMC the responsibility to establish methodologies for network access and connections.

18 The provisions of CAM NC fully apply to the Spanish interconnection points with EU Member States. For all other points of the Spanish gas network (LNG terminals, storage facilities, domestic points, and network points connected to third countries), CNMC introduced a standardised allocation methodology in 2019.

19 The allocation framework at the Almería and the Tarifa points differs from the CAM NC provisions with regard the types of products offered (in addition to the CAM NC’s standard products), the provisions on interruptible capacity, the number of products available at each auction date, the capacity calculation methodology, and the auction calendar, the timings for the notification of capacity offered in the gas yearly auctions, and the publication provisions.

20 Specifically, the allocation rules for LNG terminals and network points connected to third countries are aligned to the greatest possible extent to maximise the utilisation of the Spanish gas network. Such rules are not fully aligned with some provisions of the CAM NC as they were first established in 2019, when there was no obligation to apply CAM NC provisions to network points connected to third countries. Stakeholders have unanimously expressed their support in setting up such standardised rules in dedicated public consultations and workshops.

21 The obligation to apply all network codes and guidelines at entry points from and exit points to third countries from 5 August 2026 is established in Article 70(2)(d) of the Gas Regulation, which was published on 15 July 2025. The Gas Regulation establishes a regulatory framework fully aligned with the provisions of the network codes and guidelines to avoid market fragmentation and to ensure the good functioning of the Union energy market.

22 The capacity allocation rules for Almería and Tarifa were confirmed by CNMC Circular 2/2025, issued on 9 April 2025, and further confirmed by CNMC in January 2026, following a public consultation launched on 19 December 2025 . This section provides an overview of the main provisions differentiating the capacity allocation framework included in CNMC’s derogation request with the provisions of the CAM NC, as well as an overview of the capacity booked at those points since this framework is in operation, i.e. since 2020.

Product definition

23 CAM NC includes in the list of yearly standard products only the gas year product, i.e. with delivery from 1 October to 30 September the following year. At the Almería and Tarifa points, in addition to the yearly gas product (October-September), three more types of yearly products are offered: calendar year (January-December), storage year (April-March), July-to-June year.

24 The quarterly, monthly, daily, and within-day products are aligned with those of the CAM NC (however offered differently from CAM NC, as explained in the paragraph below).

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Products offered

25 The gas year products are offered in the gas yearly auctions starting with the next gas year and th until the 15 following gas year, whereas the calendar, storage, and July-to-June years are auctioned only for the upcoming year.

26 The next three quarters are offered in each quarterly auction, i.e. unlike CAM NC provisions, establishing that the quarters shall be offer only for the same gas year.

27 The next three months are offered in the monthly auctions, whereas in the CAM NC only the next month is offered. Furthermore, the next three months do not stop within the same gas year, i.e. they are offered rolling at each of auction.

28 In each daily auction, not only the next day but all the days until the last day of the calendar month are offered.

Auction calendar

29 The auction calendar differs from the one established in the CAM NC.

30 The yearly gas products are offered in September (i.e. two months after the corresponding auction based on the CAM NC), the calendar year product is offered in December, the storage year product is offered in March, the July-to-June year product is offered in June.

31 Short-term products, like quarterly products, are offered in March, June, September, and December (i.e. one month after the CAM NC calendar), and monthly products are offered on the third Thursday of the month preceding the delivery month at the earliest (i.e. three days after the CAM NC calendar).

Notification of the amount of capacity to be offered

32 The TSO notifies network users of the amount of capacity to be offered in the gas yearly product auctions with a shorter notice period than that foreseen in CAM NC and notifies network users of the amount of capacity to be auctioned for each month for the upcoming monthly capacity auction with a longer notice period than that foreseen in CAM NC .

Derogation from the ‘set-aside’ rule

33 Article 8(6) and (7) of the CAM NC establish that at least 20% of technical capacity must be reserved to certain products to limit up-front bidding capacity by any single network user: 10% shall be reserved for products from the year ‘Y+1’ to the year ‘Y+5’ and further 10% shall be reserved for quarterly products. At the Almería and Tarifa points, such provisions do not apply, as 50% of capacity is reserved for the auctions of yearly products from the year ‘N+2’ to the year ‘Y+15’ .

Derogation from the ‘cascading’ principle

34 CAM NC Article 8(3) is not listed in CNMC’s derogation request. ACER notes that the current framework for capacity allocation implies also a derogation from the provisions of CAM NC Article 8(3), according to which capacity products shall follow a logical order by which products covering yearly capacity shall be offered first, followed by the product with the next shortest duration for use during the same period.

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Publication of auction results

35 Following the conclusion of the auction, results are available via the ‘SL-ATR’ platform of Enagás, accessible to natural gas system users holding SIFCO and EIC codes and to Spanish regulatory bodies Such results are not made public. Whereas there is regulatory oversight, as CNMC published and analyses all the results in dedicated annual reports .

36 CAM NC Article 11(11), Article 12(9), Article 13(9), Article 14(10), Article 15(13), Article 17(18), and Article 17(21) establish the obligation for the TSO to publish aggregate information on the auction results, by ensuring unrestricted access to these results .

Provisions requiring mutual implementation with the adjacent TSO

37 CNMC also asks for a derogation from some CAM NC provisions requiring mutual implementation with the adjacent TSO, namely CAM NC Article 6(1)(a), Article 6(4), Article 19, and Article 21.

Interruptible capacity products

38 CNMC asks for a derogation from all the provisions on interruptible capacity established in CAM NC Chapter VI. Most provisions of Chapter VI are implemented by CNMC. Those not implemented by CNMC are the offer of interruptible within-day capacity via renominations and the provisions on the minimum lead time for interruption .

Historical capacity booking levels

39 At both Almería and Tarifa, no capacity was successfully allocated in the yearly auctions held for the gas years from the year ‘Y+6’ to the year ‘Y+15’.

40 As regards the bookings of year-ahead products:

• At the Almería entry point, the gas-year-ahead product emerges as the most requested product, i.e. approximately 62% of the total capacity offered across all the auctions held since 2020 was successfully allocated. A comparable trend is observed for the calendar-yearahead product, which saw an allocation rate of around 61% over the same period. In contrast, the storage-year-ahead product exhibited significantly lower demand, clearing in four of the five auctions it was offered, with total allocated capacity remaining below 27% of the volumes made available. The least requested annual product over the last five years was the July-to- June year-ahead product; it was successfully allocated in only two of the five auctions in which it was offered, averaging 14% of the total capacity offered.

• At the Tarifa exit point, no year-ahead capacity was ever allocated in the auctions held from 2020 to 2025.

Regarding the allocation of quarterly products offered beyond a gas year:

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• At the Almería entry point, quarterly capacity for products beyond the same gas year cleared in only three auctions between 2020 and 2025 (out of a total of 20 auctions held). The average requested capacity in these instances was less than 14% of the total volume offered.

• At the Tarifa exit point, quarterly capacity was never allocated.

Regarding the allocation of monthly products currently not covered by standard CAM NC rules, i.e., the ‘rolling’ next three months:

• At Almería, this capacity was allocated in nine auctions (out of a total of 60 auctions held in the observed five years), with the total allocated volume representing approximately 25% of the corresponding capacity offered.

• At Tarifa, this capacity was allocated in one auction, with the total allocated volume representing around 31% of the total capacity offered.

41 No data on interruptible capacity is included in the CNMC annual reports or was provided from CNMC to ACER; therefore, ACER cannot assess this element.

42 Finally, the yearly, quarterly, and monthly products are allocated via ascending clock auctions, while daily and within-day products use a uniform price methodology, in line with the CAM NC provisions, using the TSO’s electronic platform.

4.2. ACER considerations

43 The request for derogation of CNMC is of temporary nature, i.e. until 31 December 2032.

44 The current framework for capacity allocation in the Spanish gas system is the result of important and market-based regulatory developments established by CNMC. As explained in Section 4.1 above, following the market requests expressed in public consultations processes and in dedicated open discussions, the allocation rules at network points connected to third countries have been aligned to the maximum possible extent to the capacity allocation rules of the LNG terminals to maximise the utilisation of the Spanish gas network.

45 Specifically, in 2019 the Spanish Government transferred to CNMC the responsibility to establish methodologies for network access and connections.

46 While the CAM NC provisions apply to the interconnection points ‘VIP Iberico’ (with Portugal) and ‘VIP Pirineos’ (with France), different capacity allocation rules apply at all the other points of the Spanish network (Almería, Tarifa, storage, LNG, distribution).

47 The design and continued implementation of this capacity allocation framework have been endorsed by stakeholders. Furthermore, CNMC has not received any complaints regarding this mechanism since its introduction, nor has it received any requests to implement CAM NC at these points.This design has been developed by CNMC when there was no obligation to apply CAM NC provisions to network points connected to third countries and, while maintaining the basic principles of the CAM NC, it presents differences from the CAM NC.

48 The Gas Regulation enlarges the scope of application of the network codes and guidelines to entry points from and exit points to third countries to promote regulatory alignment and seamless application of the Union energy market rules and establishes a limited time for the validity of a derogation, i.e. the minimum necessary period to remove the existing obstacles for the application of the network codes or guidelines.

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49 Capacity allocation rules within the Spanish system include additional features compared to the provisions of the CAM NC, therefore it presents varying degrees of alignment with the framework of the CAM NC. The allocation algorithms are fully consistent with CAM NC. Specifically, the ascending clock auction is applied to yearly, quarterly, and monthly products, and the uniform price auction allocation is used for daily and within-day capacity. While all standard CAM NC products are offered, the Spanish system includes additional features, such as three extra types of yearly products and specific provisions regarding interruptible capacity. Several elements differ from the CAM NC provisions, i.e. the provisions on interruptible capacity, the auction calendar, the notification timings, the number of products offered in the auctions, the publication of the results, the deviation from the ‘set-aside’ rule, the deviation from the ‘cascading’ principle.

50 Data on capacity bookings at the Almería and Tarifa points included in Section 4.1. above show that the additional features provided by this allocation mechanism to the market appear not to be fully utilised by the network users:

• Regarding the Almería point, ACER notes the interest of network users mostly focused on purchasing the gas-year-ahead products, the gas year products three or four years prior to the relevant delivery period, the ‘next gas-calendar-year’ product, and quarterly products covering the winter period.

• Regarding the Tarifa point, despite a wide range of products offered (from ‘Y+15’ to withinday, including storage and calendar years), only monthly products, in particular month-ahead products, have been successfully allocated since the implementation of these rules. This point is at present solely used to export gas from Spain towards Morocco.

• This shows that rules for standardised CAM products could be aligned with the corresponding CAM NC provisions. However, ACER considers that:

o It is not possible to objectively assess whether capacity would have been booked, for each product, at the same or different levels than those recorded since 2020, had the Spanish allocation rules been fully aligned with the CAM NC. This is due to several factors: the non-application of the ‘set-aside’ rule and of the ‘cascading’ principle; the offering of additional types of yearly products; the offering of quarterly products beyond the gas year of the auction date; and the different auction calendar.

o The rules set out in the CAM NC provide flexibility for network users to acquire transmission capacity rights according to their commercial strategies. Furthermore, ACER highlights the benefits of applying the standardised CAM NC rules at all the network points established in Article 70(2) of the Gas Regulation to ensure transparency, predictability, and the presence of competitive and integrated markets across the Union. However, to objectively quantify this element with reference to the Almería and Tarifa points, specific feedback would be needed more market participants, including feedback on their expectations.

o Therefore, ACER will not conclude on the potential impact on the capacity bookings deriving from the full application of all CAM NC provisions.

• In relation to the predominant role of LNG in the Spanish gas imports and exports and the benefits of aligning the LNG points with the network points connected to third countries under the current flexible allocation design, ACER considers that it is not possible to objectively assess the effects on the Union and Spanish market, after 5 August 2026, in case of a misalignment between the CAM NC provisions and the provisions to allocate capacity for LNG terminals and the other points of the Spanish network.

• Furthermore, ACER is of the opinion that, from a legislative perspective, there are no critical obstacles preventing the full implementation of all CAM NC provisions at these points over a reasonable time that allows CNMC to carry out a public consultation and discussions with the relevant stakeholders to collect specific feedback. ACER acknowledges that ITinvestments would likely be needed by Enagás in case of full implementation of CAM NC.

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• ACER acknowledges the existence of specific circumstances at such points, which are connected through international pipelines to markets at a different level of development than the Union gas internal market. ACER has no full visibility on supply arrangements concerning Algerian production and capacity contractual access in Algeria and Morocco, therefore ACER is not in a position to assess the impact of these contracts on an alignment with CAM NC auctions or their possible impact on the Spanish market and, consequentially, on the Union gas market .

51 ACER notes that some of the proposed amendments to the CAM NC, if confirmed in the current comitology process, would be beneficial for network users at such points, e.g. the TSO could offer the non-allocated yearly and quarterly capacity volumes in subsequent auctions to be held later; the monthly auctions will allocated the next three months; ‘balance of the month’ products will be offered. ACER is of the opinion that a consultation shall be carried out by CNMC once the new provisions of the amended CAM NC enter into force, in view of finding a suitable alignment with the provisions of the revised CAM NC.

52 Furthermore, ACER notes the gas of Algerian origin accounts for approximately 35% of the Spanish demand, is a key source of gas for Spanish customers, supporting Spanish security of supply with significant volumes. At the same time, a different regime than the CAM NC may reduce the benefits of the functioning of the internal market. The Gas Regulation establishes the obligation to implement network codes and guidelines at network points connected to third countries from 5 August 2026. Applying network codes and guidelines at the network points connected to countries, given the integration of all EU gas markets and the associated interdependencies, supports the avoidance of market fragmentation and ensures the seamless functioning of the Union’s internal market.

5. Conclusions

53 ACER acknowledges the predominant role of LNG in the Spanish gas market and the rationale that brought CNMC to align the capacity allocation design of the Tarifa and Almeria points to the allocation design for LNG and storage infrastructure, set up based on the CAM NC principles. However, based on the elements of the derogation request, ACER considers that it is not possible to objectively assess whether the CAM NC can be fully implemented at these points, nor to assess the potential impact of such implementation on the market after 5 August 2026.

54 In Section 4 of this Opinion, ACER has analysed the derogation request of CNMC to assist the European Commission in its decision. In this context, and noting that this aspect may be taken into account in the decision of the European Commission, ACER further notes that, taking into consideration the European Commission’s decision and in light of the design established by the European Commission, it will be important for CNMC to conduct a comprehensive public consultation, once the CAM NC is amended, with the results duly published. ACER notes that CNMC agrees with the need to conduct such consultation. This process should focus on the implementation of the revised CAM NC, duly ensuring a timely alignment with the Union gas market.

A C E R O P I N I O N N O 1 1 / 2 0 2 6 This Opinion is addressed to the European Commission. Done at Ljubljana, on 30 April 2026. — SIGNED — V. ZULEGER, ACER Director ad interim