The CAEs system, a future opportunity to transform energy efficiency in Spain.

The Energy Savings Certificates (CAEs) system is here to stay. In just two years since its launch, it has already proven to be one of the most effective tools for accelerating the decarbonization of the Spanish business landscape, mobilizing private investment, and turning energy savings into a strategic asset. But the most significant developments are yet to come. Official forecasts estimate that this system will mobilize over 6.4 billion euros in energy efficiency investments by 2027. Of that amount, more than 2 billion euros will correspond to obligations that can be covered through CAEs. In 2025 alone, the national savings target is 5,815 GWh, of which 85% could be covered through the CAE system. By 2026, the target will grow to 9,420 GWh, with coverage of up to 90%. We are talking about a growing market with enormous economic, environmental, and technological potential. This reality only reinforces the importance of having accredited and experienced agents who can truly energize the system. At Edison Next, we play a fundamental role as Authorized Delegated Entities by the Ministry for Ecological Transition and the Demographic Challenge to operate in this new market. Thanks to this distinction, we are qualified to manage CAEs comprehensively, supporting companies and public administrations in identifying projects, validating savings, certifying with the administration, and finally, monetizing those certificates. Our multi-sector experience and technical expertise allow us to manage CAEs from multiple technologies: from improvements in HVAC, lighting, or digitalization, to individual actions in industry, buildings, or public infrastructure. Furthermore, the CAE system offers a significant strategic advantage over other incentive schemes. Unlike traditional subsidies, whose payments can be delayed for more than a year, CAEs allow the economic value of savings to be recovered within an average period of three months. This represents a major step forward in the agility and speed with which clients obtain a return on their investment. The evolution of the system also presents challenges and opportunities. At Edison Next, we consider it key to continue improving and expanding the model’s scope. For example, by creating aggregating platforms that allow grouping small savings measures, thus facilitating access to this type of aid for individuals and SMEs as well. It is also important to make an effort to integrate the public sector into this system, where the savings potential is immense. For instance, more than 40% of outdoor lighting in Spain is still not LED. Another fundamental element that we should all work on is communication. Today, the lack of knowledge about the operation and advantages of the system remains high, which we observe daily with some of our clients. It is necessary to strengthen outreach efforts so that more agents, especially non-experts, can benefit from this tool that transforms energy savings into an economic asset. Due to its flexibility, agility, and adaptability, the CAE system is set to become one of the main levers for achieving the energy efficiency targets set by the EU for 2030. It is expected to channel more than 12.5 billion euros into actions included in the National Integrated Energy and Climate Plan (PNIEC), particularly in sectors such as industry, services, transport, or buildings. With a long-term vision and a collaborative approach, at Edison Next we will continue to drive this transition through our role as a Delegated Entity, reinforcing our commitment to sustainability, our clients’ competitiveness, and the country’s economic growth.