The Romanian Commodities Exchange starts its operations in Moldova and will contribute to the creation and development of a competitive energy market, especially in the natural gas sector.
As noted in its report, the Romanian Commodities Exchange, the oldest private operator of commodity trading platforms in Romania, officially opens its operations in Moldova, wishing to contribute to building a competitive, transparent and non-discriminatory energy market, including in the natural gas sector, in the interests of household or industrial consumers. “With its presence, the Romanian Commodities Exchange (RCE) will contribute to strengthening energy security in Moldova, helping to form the best price for the end consumer and, thus, preventing any crises in the energy market. Thus, RCE will help Moldova to fully fulfill its obligations related to its participation in the European Energy Community, for the benefit of its citizens,” the Romanian Commodities Exchange said in a statement. It notes that today RCE is the largest commodity exchange operator in Romania, managing an average annual volume of more than 5,000 transactions of more than 65 TWh, inter alia, with natural gas, electricity, petroleum products, CO2 certificates, building materials or grain. RCE is the market leader in natural gas trading in Romania, offering over 70% of national domestic consumption, and in 2018 and 2020 it sold about 90% of national consumption. In 2017-2019 RCE sold a total of 65 TWh in the natural gas market and 71 TWh in 2020. By the end of 2021, the volume of transactions on RCE is expected to exceed 65 TWh. More than 1,500 clients use RCE services in Romania every year. President of the Romanian Commodies Exchange, Gabriel Purice, said that in November the Romanian Commodities Exchange will celebrate 29 years since its foundation. “During this period, we have continuously improved our activities, adapting to new technologies and the development of free markets for trade in goods, including energy. By expanding RCE to Moldova, we want to lend a hand of support to the national authorities in the formation and consolidation of a competitive energy and electricity market, providing transparent and non-discriminatory mechanisms for the purchase and sale of energy products. The main advantage of transparent energy trading in a regulated market is that prices are set according to supply and demand and information about market participants and trading volumes is available to the general public, which can only benefit end users, citizens or businesses,” he said. The Romanian Commodities Exchange, founded in 1992, sees its mission as securing transactions for all interchangeable goods, and in the energy sector, RCE is regulated by ANRE and the Romanian Financial Supervisory Authority. RCE is a permanent dialogue partner of the European Energy Community and its initiatives in Central and Eastern Europe with the aim of diversifying energy sources and supporting consumers by creating fair prices, economic efficiency, competitiveness, transparency and integrity in the national gas and electricity sectors. Information about the markets operated by RCE is publicly available, and the correctness of operations and compliance with ethical standards are fully ensured by the reliable rules of the stock exchange. // 20.10.2021 – InfoMarket
