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Romanian National Regulatory Authority for Energy (ANRE) has launched an investigation into 26 electricity traders for alleged market manipulations aimed at artificially increasing electricity prices. If found guilty, these traders face fines between 5 to 10 % of their annual turnover .
ANRE President Dumitru Chirita confirmed that 26 entities are under investigation. According to him, the alleged scheme is as follows: entity A sell certain amount of electricity to entity B, while entity B sells electricity back to entity A at higher prices. And through this market manipulation, the final price of electricity increases.
He stressed that, so far, the fines have been symbolic, but ANRE will enforce maximum fines in this case.
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