Chisinau has the first electricity exchange, which offers advantages for both consumers and businesses, according to the director of ANRE's Board of Directors, Constantin Borosan.
Chisinau has the first electricity exchange. PHOTO: Shutterstock
With the launch of the first electricity exchange, Chisinau managed to make the first electricity transaction on the Market for the Next Day (PZU), which took place on the platform of the Electric Power Market Operator of Moldova (OPEM) and was carried out by the Energocom Joint Stock Company (SA).
“SA Energocom has symbolically purchased 1 MWh. The purpose of the test is to verify the operability and functionality of the new market, as well as to evaluate how it can support the diversification and transparency of electricity procurement mechanisms. Through this operation, a new beginning was given for the national energy sector”stated the representatives of the Ministry of Energy.
According to officials from the ministry, PZU “represents an essential step in the development of a competitive, sustainable system aligned with European standards. Its operation allows the price to be formed transparently, based on demand and supply, in short time intervals, and will also allow the implementation of differentiated tariffs according to the hour. The launch of PZU is not only a technical reform, but also a strategic one: it contributes to the consolidation of the country's energy security, stimulates investments in production and infrastructure and paves the way for coupling with European energy markets”.
Constantin Borosan's explanations
The current director of ANRE's Board of Directors and former secretary of state of the Ministry of Energy from Chisinau, Constantin Borosan, wanted to detail the benefits that the electricity exchange brings. These include the fact that consumers can receive better offers from suppliers if they adjust their energy consumption.
“Suppliers on the free market can make offers for consumers and propose, for example, a lower price than the regulated one, if they consume most of their energy at midday and do not consume during peak hours, by adjusting the way they operate or behave, or by changing the way they organize consumption processes (energy efficiency measures, etc.). This is the biggest benefit for consumers.” stressed Constantin Borosan.
Electricity producers can sell the energy produced every hour, the sale being possible depending on “demand and supply. We have about 1,000 MW of installed capacity in renewable energy. They are all potential sellers of electricity.”
And when the Moldovan market will connect to the single European energy market, the price of electricity at a certain time, on the same day, in the Republic of Moldova and in Romania will be the same, Constantin Borosan says.
“The operation of the electricity exchange, with transactions carried out every hour, leads to competition between participants, and competition leads to the improvement of the quality of services and the reduction of prices. The price of electricity on an exchange is formed transparently, under market conditions and competition”concluded the Moldovan official.
The exhortation of the management of the Moldovan Ministry of Energy
Meanwhile, Chisinau purchases emergency electricity from Romania, the decision being taken against the background of Russian attacks on the energy infrastructure in Ukraine. Moldovan Energy Minister Dorin Junghietu has repeatedly urged Moldovans to save energy, which people have done, he says.
“Dear Moldovans, thank you for supporting the stabilization of the energy system. On Wednesday, the energy consumption was noticeably lower and it was only necessary to access the emergency power for two hours. Even if it seems to you that one person cannot change things, every kilowatt/hour saved counts”, emphasized Dorin Junghietu in a video message posted on the afternoon of Thursday, December 11, on his Facebook page.
On December 6, the company Moldelectrica announced that “requested emergency aid from Romania”, action that was repeated in the following days.
