The King approves the 2026 rules of the capacity remuneration mechanism

King Philippe signed, on August 5, 2026, at L’Île-d’Yeu, a royal decree amending the royal decree of May 30, 2021, approving the operating rules of the capacity remuneration mechanism (CRM). The text, referenced C-2026/006449, is published in the Belgian Official Gazette of September 7, 2026, page 48290, and enters into force on the day of its publication.

The decree completes Article 2 of the royal decree of May 30, 2021, as amended by the royal decree of July 4, 2025, by approving the “2026 Operating Rules of the Capacity Remuneration Mechanism,” attached in Annex 6. The minister responsible for Energy is charged with the execution of the text.

A consultation and decision process

The new rules fall within the framework of Article 7undecies, § 12, of the law of April 29, 1999, relating to the organization of the electricity market. They were established by the Electricity and Gas Regulatory Commission (CREG) based on a proposal from the SA Elia Transmission Belgium dated February 1, 2026, following consultation with market participants from November 21, 2025, to January 5, 2026.

The CREG decision, referenced (B) 3167 of May 12, 2026, was preceded by a new consultation of market participants from March 19 to April 9, 2026. The opinion of the Finance Inspector was given on July 15, 2026, and the decree was adopted on the proposal of the Minister of Energy.

Renewed technical rules

The 2026 Operating Rules (version 6) govern the entire Belgian capacity remuneration mechanism, which aims to guarantee the security of electricity supply. They notably cover:

• the prequalification procedure for capacities (standard, specific, and “fast track”);
• the organization of three auctions per supply period, four years (Y-4), two years (Y-2), and one year (Y-1) before the period concerned;
• the remuneration of bids according to the “pay-as-bid” method;
• the duration of capacity contracts, from 1 year to 3, 8, or 15 years depending on the category;
• pre-supply control, the availability obligation, and unavailability penalties;
• the secondary market and financial guarantees.

By way of derogation, the provisions of chapters 9 and 12 (availability obligation and reimbursement obligation) apply only from November 1, 2026; until that date, the previous version of the rules continues to apply.

Strengthened CO2 emission limits

To participate in the 2026 Y-4, Y-2, and Y-1 auctions as well as the secondary market in 2026, production units must comply with CO2 emission limits from fossil fuels:

• units whose commercial production began on July 4, 2019, or later must not emit more than 550 g of CO2 per kWh of electricity;
• older units must not exceed 550 g of CO2 per kWh or 306 kg of CO2 per year per kWe if their specific emission is between 550 and 600 g/kWh.

These thresholds, revised downwards compared to the European requirements of Regulation (EU) 2019/943, aim to accelerate the energy transition while maintaining the adequacy of the fleet. Furthermore, a trajectory for reducing thresholds is being studied for auctions starting from 2028.

A direct impact for market players

By approving the 2026 rules, the King provides a stable legal framework for producers, capacity holders, and suppliers participating in the Belgian CRM. The new provisions apply immediately to capacity contracts to be concluded, while Annex 18.8 identifies the provisions from previous versions that remain applicable to contracts already concluded. This text thus constitutes a major milestone for Belgium’s security of electricity supply and for the predictability of investments in the production fleet.