Gas price in Romania soars to 2-year record on cold weather and export to Moldova

The price of gas increased significantly on February 10 on the most important market in Romania, the day-ahead market operated by the Romanian Commodity Exchange (BRM), reaching over RON 450 (EUR 90) per MWh, a level not seen since December 2022 according to Profit.

A volume of 1.2 GWh was traded, also a record for the past two years.

The cold weather, which leads to an increase in domestic consumption, additional demand from the Republic of Moldova and the low degree of filling of storage facilities contributed, according to Profit.ro.

The average price of energy for delivery on February 11 increased by 22.8% d/d to RON 414.48 (EUR 83) per MWh (more than EUR 20 per MWh above the price on the most important regional exchange, the Austrian CEGH).

Romania imported, according to Transgaz data, 14.8 million cubic meters of gas on February 10, to cover domestic consumption, which could not be supported only by domestic production (of 24.1 million cubic meters) and extractions from deposits (of 19.2 million cubic meters), and exports to the Republic of Moldova (of 7.3 million cubic meters).

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