Energy market in the spotlight
The energy minister Sebastian Burduja has good news for Romanians: as of next month, energy prices, especially natural gas prices, are expected to go down.
Corina Cristea, 09.04.2024, 13:50
High energy costs affect the budgets of Romanian households, which are forced to pay the highest prices in the European Union. Whereas in Spain and Portugal, for instance, which have invested massively in green energy sources, energy prices may be as low as EUR 1 / MWh, in Romania, where traditional, more costly and polluting energy sources are still used extensively, prices reach EUR 69 / MWh. And this happens in spite of the country having the capacity and resources for a quick transition to renewable energy and for turning 100% green.
Decision-makers in Bucharest are considering all these aspects, and nuclear energy holds an important place in the energy equation. Romania is set to build two additional units at the Cernavodă nuclear power plant and is working on extending the lifespan of one of the existing units.
In fact, the country has an encouraging experience in terms of nuclear power, and the plant in Cernavodă has some of the best capacity factors in the world and a flawless track record in terms of safety. The statement was made by the head of the International Atomic Energy Agency (AIEA), Rafael Mariano Grossi, who has been in Bucharest these days and has had talks with PM Marcel Ciolacu, the foreign minister Luminița Odobescu and the energy minister Sebastian Burduja.
The talks focused on the close cooperation between Romania and the IAEA in developing a civilian nuclear programme and on the prospects for strengthening this cooperation in the energy sector.
The Agency director highlighted Romania’s international profile and its internationally acknowledged, responsible nuclear policy. He also praised Romania’s significant investments in the development of its nuclear programme, including the implementation of new nuclear technologies such as small scale modular reactors (SMRs).
For the time being, speaking about the existing situation, the energy minister Sebastian Burduja has good news for Romanians: as of next month, prices will go down, especially natural gas prices:
Sebastian Burduja: “For many Romanians, there will be cost decreases, especially in terms of natural gas, which will be evident as of next month. Electricity prices will also drop, especially for those consumers subject to a higher ceiling, the RON 1.3 / KWh, which is the current ceiling in the market.”
But, Mr. Burduja went on to explain, a supplier does not buy the entire amount of electricity it needs at market price; they have longer-term contracts, bilateral agreements and various other financial arrangements, which lead to a different average monthly price. (AMP)
