*3.7. Transmitter*

This agen<sup>t</sup> is in charge of carrying the electricity from the bulk generation to the distribution system. The activity that it performs is to transport the electricity throughout the assets that it owns. Moreover, the transmitter has to plan and build (usually in a regulated framework) new lines, as well as reinforce the ones to account for future demand perspectives. It also verifies the connection procedure of new-generation capacity.

This agen<sup>t</sup> has a physical infrastructure between the large generators and the distribution grid or large consumers. This includes high-voltage transformers and transmission lines.

This agen<sup>t</sup> is highly regulated since it is a natural monopoly [54]. Therefore, the only transactions of this agen<sup>t</sup> are the received fees from generators, storage, and consumers. The users of the transmission system bear the costs of its maintenance and modernization via taxes.
