Increased Demand for Electricity Due to Extreme Temperatures
In the last few days, extreme temperatures have led to an increased demand for electricity on the domestic market, a phenomenon that is visible during peak hours from 8:00 PM to 9:00 PM, as well as during the night when air conditioning units are running to cool the rooms. Since the Republic of Moldova does not have a functional electricity exchange, Energocom purchases the necessary surplus from the Romanian exchange OPCOM, a country where the company holds licenses for trading in electricity and natural gas.
Challenges in Meeting the Demand
However, Romania is also experiencing a growing demand for electricity and record-high prices. During those hours, when “the sun goes down,” we cannot rely on solar energy. Due to the heatwave, there is no wind energy production across the Prut River, and the hydroelectric power generated is below normal levels due to a decrease in water flow. As a result, Romania is importing electricity from neighboring countries with which it is interconnected,” explained Energocom today.
The Impact of Market Trends on Electricity Prices
Electricity prices purchased by Energocom from OPCOM during peak hours, from 8:00 pm to 9:00 pm, where consumption is highest, have quadrupled from the beginning of July until today, July 16th, from around 200 euros/ MWh to approximately 800 euros/ MWh.
However, according to Energocom, trends on the Romanian market have a low impact on the final price, as the energy purchased from OPCOM covers only 5-8% of the Republic of Moldova’s right bank needs. “It is important to mention that recently Energocom has bought energy from the same Romanian market at prices of 0 euros/ MWh or even negative prices, when there was an excess of electricity from renewable sources,” Energocom stated. In addition to the fluctuations on the OPCOM market, there are also increased costs for capacity reservation.
Energocom has announced that they have started direct negotiations with electricity producers in Romania, in order to
Secure and Competitive Energy Acquisition in Romania
With energy prices remaining capped in Romania, it can be challenging to find a reliable and competitively priced energy provider. However, Energocom offers a solution for those looking to acquire safe and affordable energy.
Rational Energy Consumption
In the midst of increasing energy consumption, Energocom is encouraging people to consume electricity rationally. For example, they suggest starting up appliances that are not necessarily needed (such as the washing machine, etc.) during lunchtime rather than in the evening when consumption is at its highest.
