The Spanish National Commission on Markets and Competition (CNMC) has sparked tensions between electricity and gas companies over the proposed remuneration rates for their network operations. The regulator approved a distribution business remuneration rate significantly lower than what the electricity sector had requested, a move reportedly influenced by the Basque Nationalist Party (PNV). This decision has led to a sharp decline in the stock prices of major utilities, with Endesa experiencing the largest drop on the Ibex 35 index. Overall, the electricity sector lost nearly 2 billion euros in market value following the CNMC's proposal. Both electricity and gas companies, including Endesa and Enagás, saw their shares fall by more than 2%. The dispute has also heightened tensions between the CNMC and the Ministry of Energy. Meanwhile, ten publicly traded companies, including Repsol, Redeia, and Acciona, are distributing over 1.5 billion euros in dividends this week, despite the market volatility. In Portugal, PSI shares remain under pressure, influenced by EDP Renováveis.