On 1 September 2022, Emergency Ordinance No. 119/2022 (“GEO 119/2022”) amending Emergency Ordinance No. 27/2022 on measures applicable to final customers in the electricity and natural gas market in the period between 1 April 2022 and 31 March 2023, as well as for amending certain regulatory acts in the energy field (“GEO 27/2022”) was published in the Official Gazette of Romania no. 864 and entered into force on the same date. Below is a selection of the provisions set forth under GEO 119/2022.
The period of application of the final price cap scheme has been extended until 31 August 2023 for both gas and electricity consumption.
From 1 September 2022 to 31 August 2023, natural gas producers carrying out both onshore and/or offshore extraction activities and natural gas sales activities are obliged to sell, at a price of 150 RON/MWh (compared to 250 RON/MWh under the previous version of GEO 27/2022), the necessary quantities of natural gas resulting from current domestic production activity.
During the period from 1 September 2022 to 31 October 2023, in case of natural gas producers carrying out both onshore and/or offshore extraction activities and electricity production activities using natural gas, the transfer price of natural gas used for electricity production shall not exceed 100 RON/MWh.
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