In Moldova, electricity tariffs were reduced for the 4th time in 2023

Electricity tariffs in Moldova will be reduced by 7% for residents of the central and southern parts of the republic and by 10% for residents of the north of the country.

This decision was made at a meeting of the National Energy Regulatory Agency (NERA), the regulator’s press service reported.

As the NERA press service noted:

At an open meeting, NERA approved a reduction in regulated prices for the supply of electricity to end consumers:

- residential consumers served by Premier Energy will pay 2.39 lei/kWh (0.13 US dollars), which is 18 bani/kWh (7%) less than the current price,

- residential consumers served by Furnizarea Energiei Electrice Nord will pay 2.88 bani/kWh ($0.16), which is 32 bani/kWh (10%) less than the current price.

Previously, Premier Energy customers paid 2.57 lei/kWh ($0.14) and FEE Nord customers paid 3.2 lei/kWh ($18).

Among the factors that influenced the decision to reduce tariffs:

- reduction in the average purchase price of electricity by approximately 3-4%,

- changes in forecasts for the volume of its purchases,

- strengthening the average exchange rate of the national currency in comparison with that included in the tariffs.

The changes will come into force after publication of the NERA decision in the Official Monitor of Moldova.

On October 25, 2023, it became known that the Moldovan company Energocom extended the contract for the supply of electricity with the Moldavian State District Power Plant (MGRES) owned by Inter RAO until the end of 2024.

In the winter months, with the launch of Moldovan thermal power plants, which also produce electricity, the volumes of electricity purchased from the Moldavian State District Power Plant will decrease to 230-250 thousand MWh, which will amount to approximately 65% of Moldova’s needs.

Moldova produces about 20% of the electricity consumed, the rest has recently been purchased from the Moldavian State District Power Plant.

A relatively low price for purchased electricity was achieved due to the fact that all gas supplied to Moldova from Russia (5.7 million m3/day) is sent to the needs of Transnistria.

Let us remind you that since February 24, 2022, a state of emergency has been in force in Moldova due to the rapid rise in energy prices, as well as shortage of energy.