Friday, March 23, 2007

Romania: First transaction w/electricity conducted on BRM

23 March 2007

The first transaction with electricity was adjudicated in the Romanian Commodities Exchange (BRM), the contract being concluded between TEN Transilvania and Beny Alex, at a price of 161.48 MWh for a quantity of 54,600 MWh, ACT Media news agency reports.

The opening price for all the bidding, stood at 170 lei/MWh and the winners were SC Ennet Grup SRL (165.5 lei/MWh), SC Ezpada SRL (162.9 lei/MWh), SC Grivco SA (168 lei/MWh) and SC CEZ Romania SRL (162.9 and 169.25 lei/MWh).

Starting with April, the Order issued by the Minister of Economy and Trade through which electricity producers were constrained to maintain or prolong their contracts with Electrica comes to an end.On July 1, 2007 the local electricity market is going to be fully liberalized.

Starting with February 22, 2007 BRM has launched the energy trading rink. The solution proposed by BRM and through which it wishes to participate in reconfiguring the electricity market is represented by forward contracts (with 10 day - 18 month delivery deadline) on the available market.

BRM is a private institution set up in 1992 that functions on the basis of Law No. 357/2005 regulating commodities exchanges and has 120 shareholders amid which Electrica, Nuclearelectrica, Transelectrica, Termoelectrica and Hidroelectrica.

Source: ACT Media News Agency

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