Gas prices have risen in Romania above the level in the European market, on the threshold of market liberalization
Gas meters in winter. Photo: Jzehnder1 | Dreamstime.com
The price of gas at the Romanian Commodity Exchange has increased significantly recently, by 35% compared to the first days of the year, reaching levels above those in the European market. It happens especially because of the frosty period that Romania is going through. The final price paid by consumers is capped, but the market is preparing for liberalization from April 1.
The frost of the last few weeks caused the increase in gas consumption in Romania, which reached the highest levels in recent years. For example, on Monday and Tuesday, our country consumed over 58 million cubic meters per day. Higher levels were also reached in 2018, but then industrial consumption was much higher than now.
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Consumption could not be fully covered by domestic production and warehouses, so imports were resorted to. The Transgaz data, analyzed by HotNews, showed that on Thursday at 8:00 a.m. Romania consumed 7.5 million cubic meters per day from imports, at a consumption of 55 million cubic meters per day.
In this context, prices on the Bucharest stock exchange also increased by 35% in just one week, from 153 lei per MWh on January 6, to 206 lei per MWh (40 euros) on January 13. For Thursday, the price dropped slightly, up to 198 lei (38 euros) per MWh.
At the same time, gas is traded at 32 euros per MWh on the Amsterdam stock exchange and at 35 euros per MWh in Vienna, these being the reference markets for the European gas price.
The Ministry of Energy has a plan B for liberalization from April 1
The price of gas for Romanian consumers is capped as early as 2022, and the market will be liberalized on April 1, 2026.
Last week, the Minister of Energy, Bogdan Ivan, announced that the Government is working on a plan B regarding the liberalization of the gas market, scheduled for April 1, 2026. If prices will increase more than the ceiling that is currently in place, a gradual liberalization calendar is being considered that also includes the winter of 2026-2027.
“From the predictions we have, we do not see an increase in the price of gas after March 31, 2026. Even now there are operators who supply below the price capped by law,” said Ivan.
“We want to make sure that during the next winter (2006/2027 – no) we will not have disruptions and increased prices. Now we are working on this scenario, which should extend for a period of one year, because we are interested in the cold season when we have a peak of consumption, especially in the area of household consumers. (Liberalization – no) It can be done gradually, monthly, until 2027, for the whole market”, continued the minister.
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