The ANRE regulatory committee approved in Wednesday’s meeting Order no. 26/2021 on amending and supplementing some orders of the President of the National Energy Regulatory Authority, which provides that the duration of long-term electricity supply contracts defined in art. VII of the Order of the President of ANRE no. 65/2020, changes from one year to a period greater than or equal to one month, the institution announced.

Thus, the regulatory framework for power market has transposed the European Commission’s recommendation to reduce the delivery time provided for long-term electricity supply contracts.

This measure will have a significant impact on the electricity market due to the fact that it is allowed to negotiate supply contracts on over-the-counter markets. In terms of competitiveness, the change will generate increased competition, the possibility of contracting flexible products adapted to production and consumption profiles, as well as reducing balancing costs for participants in the energy market, say ANRE officials.

“We specify that all long-term supply contracts must comply with competition rules and be reported according to REMIT. The measure also brings benefits to producers, especially those from renewable sources that depend on atmospheric conditions, as well as to suppliers and final customers, especially domestic ones, which have a variable consumption profile.”

At the same time, the ANRE Order no. 27/2021 was approved, amending nine regulations establishing trading rules on centralized markets for electricity approved by order of the President of the National Energy Regulatory Authority, in which the reference to the duration of one hour to be replaced by the reference to the duration of the settlement, and this duration of the settlement interval should be one hour until July 1, 2021, respectively 15 minutes, starting with July 1, 2021.