From the beginning of 2025, the Moldovan energy system is undergoing a transition from de facto dependence on the Cuciurgani power plant to a market architecture that is open, competitive and European. The reality on the ground is still far from this vision, says Marcela Lefter, CEO and founder of Sedera Group.
“Unfortunately, we still don’t have a functioning electricity market. The dominant player until 1 January 2025 – the Cuciurgani power plant – was impossible to compete with. It had a 70% market share,” Lefter explained at the conference “Regional approach: Chisinau 2025”, organised by Energynomics.
The problem was not just one of market concentration. By purchasing electricity from the power plant in the Transnistrian region, the Moldovan state was indirectly fuelling a hostile regime, not recognised internationally, by paying not only for the energy but also for the gas used to produce it. “We were inadvertently supporting a state of non-peace. A situation that has become unsustainable, especially in the context of the aspiration towards European integration,” she added.
As of 1 January 2025, delivery contracts from Cuciurgani have been suspended. Moldova’s energy system has entered a new phase – a tense one, but one freed from a historical dependence. “Since 1 January we have finally learned that we can live without the Cuciurgani power plant. There is life without it. Yes, prices are higher, but we are starting to build a real market,” Lefter said.
However, swapping one monopoly for another does not guarantee a functioning market. According to Lefter, Energocom – the state-owned company that has taken over the leading role in energy supply – tends to replicate some of the hegemonic features of the old system: ‘Energocom has created another monopoly. It acts as a sole supplier and grants preferential tariffs to some players. This distorts competition and discourages the entry of new suppliers”.
Despite declared intentions to reform and integrate into the European market, the lack of a functioning balancing market, the absence of an active energy exchange and legislative uncertainties discourage private players. From Sedera Group’s perspective, only the entry of more energy companies – in generation, supply and balancing services – can support the emergence of a real market based on competition and transparency. “We are being forced to do some things, even if they are tough. But it is precisely these decisions that can lead us towards normality. Change does not come easily, but it is necessary,” Lefter concluded.
In parallel, the Moldovan authorities are taking steps towards liberalisation – either by launching auctions for large renewable capacity or by reforming ANRE’s regulatory framework, which covers day-ahead and intra-domestic markets. For these steps to have an impact, more than political will is needed – what is needed is legislative coherence, functional interconnections and equal treatment for all market players. Otherwise, the risk is that Moldova will change only the form while keeping the substance: a controlled market, vulnerable to political influence and economically inefficient.
The conference “Regional Approach Chisinau 2025” was organised by Energynomics with the support of our partners Elektra Renewable Support, Adrem Asset Management, Boglight Gaz Moldova, Siemens Energy, Simtel, SolaX Power, SolarToday.