On 10 February, natural gas prices on Romania’s day-ahead market, operated by the Romanian Commodity Exchange (BRM), spiked to over 90 euros/MWh, reaching the highest level since December 2022. The surge also saw a two-year record for transaction volume, with 1.2 GWh traded.
The price increase was driven by several factors, including colder weather raising domestic consumption, higher demand from the Republic of Moldova, and low gas storage levels. For delivery on 11 February, the average price rose by 22.8%, reaching 83 euros/MWh, which is more than 20 euros/MWh higher than prices on Austria’s Central European Gas Hub (CEGH).
Data from gas transmission operator Transgaz shows that on 10 February, Romania imported 14.8 million cubic meters of gas, while domestic production provided 24.1 million cubic meters and 19.2 million cubic meters were drawn from storage. Romania also exported 7.3 million cubic meters of gas to Moldova.
