Do we pay more up to date? ANRE wants advances to stop specula

The National Energy Regulatory Authority (ANRE) proposes to introduce the obligation of an advance of 30% of the value of the contract for electricity buyers on the wholesale markets, in an attempt to reduce the risks of non -payment and the speculative behaviors in the sector. The measure concerns the contracts with a delivery period of at least three months and with a deadline for more than one month from the time of signing.

According to a project prepared by ANRE, the anticipated payment would be made at the time of the transaction, following the rest of the contract value to be paid according to the deadlines between the parties.

« In the context of the volatility of the market and the financial risks associated with the non-payment of the contractual obligations, it is necessary to strengthen the mechanisms of guarantee of transactions, » says ANRE in a foundation document. The institution specifies that the current regulations, which provide for various forms of financial guarantees, are not always sufficient to prevent non -payment risks or to discourage purely speculative transactions.

Objective: More predictability and stability in the market

ANRE argues that the introduction of a mandatory advance would contribute to improving cash flows in the wholesale energy market, offering better financial predictability. « This can lead to a decrease in capital costs and more stable prices for consumers, » the institution points out. Also, the measure would align the Romanian market to the European standards on Forward transactions and contribute to the professionalization of participants’ behavior.

At the same time, ANRE also proposes that the price of the transactions concluded can no longer be modified later according to the variations of the transport component for the introduction of electricity on the network.

Stimulants for Market Makers and measures to increase liquidity

In addition to the introduction of the mandatory advance, ANRE also has a complementary preparation for the stimulation of liquidity on the wholesale markets: the designation of some market maker – market trainers between producers, suppliers or traders – to ensure liquidity from their own funds, for financial incentives.

The initiative comes against the background of a very low long -term contracting level of electricity consumption. According to the data presented by Profit.ro, less than 30% of the estimated consumption of Romania for 2025 had been contracted in advance after the first 11 months of 2024. The suppliers reported almost total liquidity in the term markets, the transactions being predominantly spot and performed for small quantities.

In this context, the representatives of the industry have repeatedly asked the authorities to implement a mandatory long-term energy bidding mechanism, to ensure a minimum volume of energy available in the market and allow the planning of purchases in a sustainable way.

The measures proposed by ANRE are to be subject to public consultation before adoption.