Electricity

Romanian Commodities Exchange to roll out platform for bilateral power supply contracts

Romanian Commodity Exchange bilateral power supply contracts platform

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Published

January 17, 2022

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Published:

January 17, 2022

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The Romanian Commodities Exchange (RCE or BRM) said its platform for negotiating and trading bilateral electricity supply contracts with a minimum delivery duration of one month would become operational on February 7. Power purchase agreements could so far only be clinched on Transelectrica’s OPCOM market.

The government in Bucharest issued an ordinance at the end of last year that liberalizes the electricity market, improves transparency in grid development and connection procedures, and defines the status of prosumers and energy communities with regard to supplying their renewable energy to the grid and storing it. The Romanian Commodities Exchange (RCE or BRM) was quick to announce the introduction of its platform for negotiating and trading bilateral electricity supply contracts for February 7.

The market operator said the scheme would apply for deals with a duration of at least one month. Such contracts between suppliers and consumers are also called power purchase agreements – PPAs. They were effectively banned by law in 2012. One year ago PPAs were reintroduced for production capacities commissioned after June 1, 2020.

Trading in bilateral wholesale power supply contracts has so far been limited to Romanian transmission system operator Transelectrica’s OPCOM platform.

DLA Piper’s lawyers explained in an article published by Lexology that the government’s directive opens up over-the-counter markets, trading in energy, capacity, balancing and ancillary services in all timeframes and that includes market derivatives for electricity. Still, the measures are yet to be voted on in parliament, which has the power to alter or reject them.

RCE said it applied again with the Energy Regulatory Authority (ANRE) for an electricity market operator license.

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