OMV Petrom and Romgaz, forced to sell 30% of the domestic production in the centralized markets

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OMV Petrom and Romgaz will be obliged to auction for 3 years about 30% of the production in the centralized markets – the Romanian Commodity Exchange (RCE) and OPCOM, in monthly, quarterly, seasonal and annual products, decided the Regulatory Committee of the Authority National Energy Regulatory Authority (ANRE), which approved an order in this regard on Wednesday. The percentage is higher than the one in the draft order put up for public debate by ANRE at the end of April, a project that aimed at an offer obligation of only 20%, according to Profit.ro.

If in the draft normative act ANRE proposed that, at the first auction, the maximum starting price of the sale offers be 95% of the last known price published by Central European Gas Hub AG (CEGH) in the first session, that of June 2020, the order adopted on Wednesday provides for a combination of 95% of the last known price for similar products on the Austrian ECHR stock exchange, with a share of 20%, and the average price on domestic stock exchanges, with a share of 80%.

Starting next year, the maximum price would be set only on the basis of the average price on domestic stock exchanges, and the price on the CEGH would be dropped.

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