Bucharest, 12 August 2022 (TDI): Moldova and Romania signed a contract for electricity trade on Thursday. The Transmission and System Operators (TSOs) of Romania and Moldova, Transelectrica and Moldelectrica respectively, signed the contract.
The Deputy Prime Minister of Moldova took to his Twitter and shared this good news.
Electricity trade between #Moldova and #Romania is good news for our energy security and is part of the continuous effort to diversify energy sources. https://t.co/FBON6Eeooc
— Nicu Popescu (@nicupopescu) August 11, 2022
This contract will allow the allocation of capacity for electricity trade on the interconnection line between Romania and the Republic of Moldova.
Romania will begin the electricity trade with Moldova immediately after the completion of the entire process involving the harmonization of technical details and commercial aspects.
According to that, the first electricity trade between the states is estimated for October this year.
Transelectria and Moldelectrica
Transelectrica is the Romanian transmission and system operator, with a key role in Romania’s electricity market.
It manages and operates the power grid and ensures electricity trades between the countries of Central and Eastern Europe. It is also a member of ENTSO-E (European Network of Transmission System Operators for Electricity).
Moldelectrica is the transmission and system operator of the Republic of Moldova. One of the main tasks is to ensure the energy security of the Republic of Moldova.
The successful process of electricity trading between the states is a commitment between the two Transmission and System Operators. This commitment also contributes to the development and proper operation of the European energy market.
Due to the cooperation between the two transmission system operators, there will be a dynamic flow of electricity transactions between the players in the energy markets of both states.
Also Read: President of Moldova visits Romania
Romania and Moldova’s Bilateral Relations
Moldova and Romania, share exceptional bilateral relations since Moldova’s independence in 1991. During the interwar period, most of Moldova was a part of Romania.
The people of the two countries share common traditions and folklore, including a common name for the monetary unit – the leu.
Both states share excellent bilateral trade relations. In 2020, Moldova exported $791M to Romania. The main products that Moldova exported to Romania were Insulated Wire ($250M), Sunflower Seeds ($67.7M), and Hot-Rolled Iron Bars ($55.8M).
During the last 25 years, the exports of Moldova to Romania have increased at an annualized rate of 8.16%, from $111M in 1995 to $791M in 2020.
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