Romanian gas and electricity market operator to set up subsidiary in Chisinau

Chisinau, Dec. 15 /MOLDPRES/- General meeting of Romanian Gas and Electricity Market Operator - OPCOM SA has approved setting up a subsidiary company in Chisinau for electricity operations. It will be called OPEM - Energy Market Operator M and will be registered with the Public Services Agency with a capital of 500 thousand lei.

The decision comes following the signing of a Memorandum of Understanding between the governments of Moldova and Romania on Monday regarding the implementation of the projects necessary to interconnect the gas and electricity networks. The parties agreed to ensure the conditions for the designation of OPCOM as the electricity market operator in the Republic of Moldova, including the electricity market operator designated for the integration of the Moldovan electricity market into the EU electricity market through market coupling.

"Thanks to OPCOM's experience, we will have a functional energy exchange next year. We will make the coupling of the Moldovan and Romanian markets naturally, which means that the operators on our market will have de facto access to the Romanian energy exchange as well", Minister of Energy Victor Parlicov said.

According to the minister, the energy market of the Republic of Moldova will integrate more easily into the common energy market at the European level. As a result, a good part of the problems faced even by renewable energy producers will be solved just like in mature markets.