Romania: Gas transaction at average price of 12,7e/MWh

, SEE Energy News

The first gas transaction was made with delivery for the entire year 2021. Transaction was made at an average price of 12.7 euros/MWh, which is 10% lower than the regulated price of 14.1 euros/MWh. Later a second similar transaction was made, further decreasing the price to 12.4 euros/MWh.

The traded volume was not insignificant in both cases, amounting to 401.5 GWh on Friday and 764.6 GWh on Monday, in total over 1.1 TWh, being probably the result of the introduction of the bidding program on the centralized markets, through which the Energy Regulatory Authority (ANRE) obliges the two major domestic producers, Romgaz and OMV Petrom, to auction different quantities of gas for different terms, at a starting price equal to 95 % of the price of similar products on Austrian CEGH. The average price was only 0.4 euros/MWh higher than the maximum starting price of the auction imposed by ANRE, of 12 euros/MWh.