In August 2026, the weighted average price of electricity purchased by Energocom rose to 156.8 euros per MWh, compared with 133.86 euros in July. Over the month, it increased by 22.94 euros, or 17.1%, although the volume of purchases decreased from 308,870 to 297,420 MWh: by 11,450 MWh, or 3.7%. So far, this spike has not led to a revision of regulated prices for consumers: ANRE has not yet published any new proposals to raise them. But August shows where pressure on future rates may be building up in the current energy supply model.
The increase did not begin in August. In May, Energocom purchased electricity at an average of 119.28 euros per MWh, in June—at 131.52 euros, in July—at 133.86 euros, and in August—already at 156.8 euros. Thus, over three months, the price increased by 37.52 euros, or 31.5%.
At the same time, the supply structure is changing. In August, domestic sources accounted for 21.64% of the volume purchased by Energocom—or about 64,400 MWh—while imports accounted for 78.36%, or approximately 233,100 MWh. Of the total portfolio, 72.47%, or about 215,600 MWh, was purchased under bilateral contracts with suppliers and producers from Romania and Ukraine, and only 5.89%, or about 17,500 MWh, was purchased on the "day-ahead" market.
Therefore, it would be incorrect to attribute the August price increase to Energocom's shift toward short-term exchange purchases. Their share is small. Another change is far more significant. New Electricity Market Rules have been in effect in Moldova since July 1. Energocom explains that under these conditions, it purchases less energy generated during the day and concentrates its purchases during peak consumption periods—from 7:00 a.m. to 11:00 a.m. and from 6:00 p.m. to 11:00 p.m. And the difference in the cost of electricity within a single day can be significant. For example, according to data from the Ministry of Energy, on July 13 on the Moldovan "day-ahead" market, between 11:00 a.m. to 4:00 p.m., the price dropped to approximately 1,000 lei per MWh, whereas in the evening, from 7:00 p.m. to midnight, it reached 3,383 lei per MWh. In other words, during certain hours, the difference was more than threefold.
However, the new market rules only partially explain the increase. August coincided with a deterioration in the regional power grid. The Ministry of Energy reported a reduction in available electricity due to a decline in hydropower and nuclear generation in neighboring countries, as well as unfavorable hydrological conditions. At the beginning of the month, authorities even restricted commercial electricity exports from Moldova from 6:00 p.m. to 10:00 p.m. to preserve available resources to cover the domestic evening peak.
Therefore, the current price of 156.8 euros per MWh cannot be called the "price of reform." The final cost is determined, among other things, by regional price trends, the terms of bilateral contracts, the availability of domestic generation, and the times when it becomes necessary to import the shortfall in electricity. Energocom does not disclose the cost of individual components of the August portfolio, so it is not yet possible to determine the contribution of each of these factors.
For consumers, the key point is this: 156.8 euros per MWh is not the rate shown on their bill. This price does not include taxes, transmission, capacity reserves, or other associated costs. Regulated prices are set by the National Energy Regulatory Agency (ANRE) based on a broader set of costs and calculations for the relevant period.
Currently, Premier Energy's low-voltage customers pay a regulated price of 3.56 lei per kWh excluding VAT, while FEE-Nord's customers pay 3.95 lei. The companies submitted their latest applications for a review of universal service prices back in February. As a result, ANRE set the current prices at 3.56 lei per kWh for Premier Energy and 3.95 lei for FEE-Nord. It is possible that, following the August spike in procurement costs, new applications to raise regulated prices for end consumers will be submitted.
However, a single expensive month in August does not, in and of itself, provide grounds for automatically passing on the increase in procurement prices to consumers' bills. More importantly, it remains to be seen whether last month's procurement price of 156.8 euros per MWh was a short-term result of a complex regional situation or whether the high cost of covering morning and evening peaks will persist through the fall and winter. In the first case, the spike may remain within the annual procurement balance. In the second, the issue of revising regulated prices will inevitably return to the NARE's calculations. //08.09.2026 – InfoMarket.