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October 5, 2022

MEASURES PLAN PROPOSED BY THE EU FOR THE ENERGY CRISIS

  1. Mandatory reduction of electricity consumption at peak consumption.
  • Changing the working schedule of commercial companies, so as them change the consumption
    profile
  • The introduction of taxes on transactions made on electricity delivered during peak
    consumption hours, which will be passed on to consumers and which will reduce their
    consumption (possible only for those with smart meters)
  • Interruption of energy delivery at the peak of consumption, according to the model existing
    before 1989 in Romania
  • 2. Regulation of the Commercial Margin for energy producers with reduced costs
    (renewable energy) that make high profits, the exception being the profits that will be
    reinvested
  • The Intelligent Energy Association requests this from 2021 in the open letter addressed to the
    Government
  • 3. Overtaxing oil and gas companies to support companies and households.
  • Romania has applied this method since 2013, without having real market protection
  • 4. The provision of financial sources (most likely government guarantees) to ensure the
    necessary support for supply and trading companies, so that they continue futures trading,
    respect their forward contracts, maintain the increased liquidity of the energy and natural gas
    markets, thus avoiding market blockages.
  • Romania has just developed a plan of measures that deepens the risk of financial blockade and
    discourages suppliers and traders from transacting in Romania. The implementation of this
    measure determines de facto the cancellation of the recently approved GEO 119/01.09.2022.
  • 5. Capping the price of Russian gas
  • probably by compensating from EU funds the difference between the capped price and the
    market price, or
  • by refusing to take over some quantities above this ceiling. Russia reacted and showed that they
    will take the first step and stop deliveries to Europe.