Correggio Digest Archive
GAS RELEASE PROGRAMME AND QUASI GAS MARKET LIBERALISATION
The Romanian regulator ANRE published an Order establishing an obligation for natural gas producers in Romania to offer 30% of their production on centralised markets in Romania (such as the Romanian Commodities Exchange and OPCOM) until 31 December 2022.
The stated aim of this ‘gas release programme’ is to ensure that natural gas suppliers have access to gas, in light of the (re-) liberalisation of the natural gas market in Romania as of 1 July. The regulator also seeks to foster a liquid gas market in Romania and to have a reference price for the local market.
At first, the maximum starting price for gas will be formed taking into consideration 95% of the previous month’s settlement price published by CEGH (Baumgarten Hub). This price is low compared to the market price, being even lower than the current regulated price of 68 lei/MWh (14 EUR/MWh). This measure is likely to put further downward pressure on the price of Romanian gas in the coming months, especially considering that gas storage facilities in Romania are almost full at the beginning of June (2 bcm of a maximum total storage capacity of 3 bcm).
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