Romania, Tinmar Energy to terminate contracts with subsidized commercial consumers
, SEE Energy NewsRomanian electricity and natural gas supplier Tinmar Energy has notified some of its non- residential customers, which are subject to the Government’s “cap and subsidy” support scheme, that it is planning to terminate their electricity supply contracts starting mid-September, after which these consumers will be taken by the suppliers of last resort.
According to the statement from the company, this is not planned for any of its residential customers, and it plans to purchase electricity and gas on the market in order to provide continuous supply for its residential customers within limits of the company’s financial resources.
The problem was generated by the latest amendments to the “cap and subsidy” support scheme, which create financial risks for energy suppliers that serve customers at the capped price expecting to be reimbursed the differential by the Government. Not only have the payments been delayed so far, but the formula used to calculate the subsidy and thus, the price differential, does not guarantee that the supplier recovers its expenditures for the purchase of energy.
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