Bogdan Tudorache

Romania needs more investments in production, otherwise it risks becoming a long-term net energy importer, says Corina Popescu, general manager, Electrica.

Already in 2019 there was a deficit on the electricity balance, imports increasing above the level of exports. “But I think it was due to commercial purchases, because we lost competitiveness,” says Popescu, explaining that the local high prices caused the players to make more, cheaper, import purchases.

The new European Directive 943 will finally introduce the long-awaited direct bilateral contracts (purchasing power agreements, PPAs) to the market, but Electrica will prefer transparent transactions, on the OPCOM platform, in order to ensure a fair benchmark price to the market. “It seems to me fair to use the trading mechanisms of the platform, which is a great advantage in establishing a fair price, a correct benchmark price,” says Popescu, explaining that in the case of bilateral contracts the trading details are not always transparent.

“It is very important for Romania to have a liquid market and a fair price mechanism.” At the same time, direct bilateral contracts will be of major importance in attracting new investments, said Popescu.