Extreme temperatures have caused the electricity purchased from Romania during peak hours to quadruple in price to 800 euros per MWh, announced Energocom in a press release.
According to the state trader, extreme temperatures in recent days have caused a record demand for electricity in Moldova, particularly during peak hours from 8:00 PM to 9:00 PM and at night, when air conditioning is heavily used for room cooling.
Due to the absence of a functional electricity exchange in Moldova, Energocom has had to purchase the necessary surplus from the Romanian market OPCOM, where prices have significantly increased during these peak periods. For example, the cost of electricity purchased from OPCOM during peak hours has risen from around 200 euros/MWh in early July to approximately 800 euros/MWh on July 16.
Despite fluctuations in the OPCOM market, Energocom’s purchases from Romania cover only 5-8% of Moldova’s total needs, with prices varying depending on the hourly interval and market conditions. Recently, Energocom has also benefited from negative prices for surplus energy from renewable sources.
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In addition to fluctuating energy costs, Energocom faces increased expenses for reserving transport capacities, given that Moldova’s power system connects to the European system through interconnections with Ukraine and Romania.
To safeguard the domestic market, Moldova’s operator, Moldelectrica, has suspended energy transfers from Moldova to Ukraine. Meanwhile, Energocom has begun direct negotiations with Romanian producers to ensure a stable and competitive supply, despite Romania’s price ceiling conditions.
Energocom encourages the population to use electricity rationally, advising the use of household appliances outside peak hours to reduce consumption and balance demand throughout the day.