Energie: Netzagentur kommt Gasnetzbetreibern entgegen – Renditen sollen steigen

The Bundesnetzagentur plans to grant gas network operators higher interest rates on their capital invested in the networks from 2028 onwards, resulting in more earnings than previously anticipated for over 700 companies operating in Germany. This move by the regulatory body stems from the rising interest rates on the capital market.

Netzagentur President Klaus Müller emphasized during an interview with the Handelsblatt that the agency is observing a dynamic increase in interest rates, and they intend to account for this development when setting the future capital interest rates for gas network operators starting 2028.

For the industry, this is a significant turning point as network operators have complained about insufficient financial flexibility granted by the authority. Under these conditions, they may struggle to upgrade the gas networks for the future. The transformation process is complex: operators must retrofit parts of their networks to allow climate-friendly hydrogen to flow through, while larger parts would have to be dismantled and dismantled.

In the meantime, they need to maintain these structures to keep serving the remaining gas customers.

The agency presented its plans for the capital interest rate in August, which will apply to gas network operators starting 2028. The Netzagentur has considerable influence in this matter: following a consultation phase with the industry, it sets the values. To determine these rates, the authority makes an assumption about the cost for network operators to provide the necessary funds for investments in the networks. These costs can subsequently be charged to the network customers.