Electricity price to rise substantially in Romania in 2019

The electricity price [on the wholesale market] will increase by 40% next year compared to 2018, which will also result in higher prices for end-users, Petre Stroe, CEO of the energy and gas supplier MET Energy Romania, commented at a press conference. He pointed out that the regulations in this sector are not well set up, so some traders may unilaterally terminate contracts, preferring to pay penalties, local Economica.net reported. "It just happened to us in November. A supplier from which we buy energy, EFT, cancelled the contract that it had signed with us for 2019, for a quantity of 5 MW. So we had to buy energy at a higher price, from the market. EFT paid the penalties, but they were better of anyway. They observed the regulation, but it was not moral," Stroe commented. MET Romania is one of the top five energy suppliers on the competitive market, with a 9% share this year, rising from 0.8% in 2016. Some of its biggest customers are Dacia Renault and Pirelli factories. editor@romania-insider.com (photo source: Pexels.com)