Over 80% of the energy for 2009 is being traded in a transparent fashion

The year 2008 has placed OPCOM (the operator of the Romanian energy exchange) on the top position in Eastern Europe according to liquidity on the Day Ahead Market (PZU), which registered a quota of almost 10% of the total net consumption estimated. On the Centralized Market of Bilateral Contracts (PCCB), also managed by OPCOM, 10.475.242 MWh to be delivered in 2009 were traded, representing a quota of 20% of the estimated consumption for the current year.

The deals on all the platforms managed by OPCOM covered 25,1% of the electricity consumption for 2008, allowing for competition and transparency. Thus transactions with delivery in the year 2008 amounted to 13.819.635 MWh.

Ion Lungu, chairman of the Association of Romanian Electricity Providers (AFEER), stated: "OPCOM"s report for 2008 is encouraging, especially as over one fifth of the energy required for this year was traded on the PPCCB. This means an almost 5% increase in the volume of energy traded in 2008. In total, in 2009, we will have approximately 80% of the energy consumption will be traded : 50% represents the regulated market set by the ANRE, 20% represents the PCCB and another some 10% is traded on the Day Ahead Market (PZU). The remaining some 205 are the direct contracts, negotiated in the past years".

Mr. Lungu claims there is room for improvement, meaning increasing the transparency of the 20% percentage of the market for direct contracts, and also the improvement of the PCCB. Suppliers and authorities are now working on defining standardized products and contracts for the centralized market, which would improve the position of the operators in relation with the producers. The chairman of the AFEER added: "I hope that in 2009 this will lead to the application of these standardized contracts on the PCCB and I also hope that the creation of the national energy company, if it happens, will not distort the competition on the market. I also hope that the quota of energy traded transparently will grow significantly every year from now on".

2008 brought total transactions for OPCOM worth 11,5 TWh concluded by the PCCB and a quota of 15,66% of the PCCB of the national energy consumption.