On Friday, the ANRE (the regulator of the energy market) has granted the licenses requested by the OPCOM (the operator of the Romanian energy exchange) and the Romanian Commodities Exchange (BRM) for the management of the centralized natural gas markets. Also approved were the trading regulations for the two operators.
On Thursday, BURSA exclusively announced that the natural gas exchanges would become functional starting in August. The OPCOM began the testing of the trading platform in June.
Approximately half of Romania's natural gas consumption is currently being sold at a regulated price, far below the international quotations, because we have the advantage of a plentiful domestic production (which covers 70% of the consumption). In the coming years, domestic gas will need to reach the average of prices practiced in the region, which means a 160% price increase. The increase in the transparency of transactions, through the creation of the natural gas exchanges, is very important, in this context, for consumers, who need to have the certainty that the price they pay to their supplier is fair. An exchange will not only ensure the transparency of the traded quantities and trading prices, but the indiscriminate access to natural gas as well.
This year's first trading months will only bring small volumes of natural gas on the stock exchanges. Most likely, it will be Romgaz, the state-owned natural gas producer which will "break the ice" with smaller quantities in the beginning, according to market sources.
Private operators are more cautious when it comes to the trading platforms. Silvia Vlăsceanu, the executive director of the ACUE (The Association of the Utility Provider Companies), said: "There is anxiety when it comes to the regulated market. Obviously everyone likes selling the natural gas on the open market, where they earn more. Thus, th
