Recently the Russian investors announced that they would bid for the construction of two new reactors for the Romanian nuclear plant in Cernavoda.
In another development, Romanian President Traian Basescu urged the new Romanian Minister of Economy Varujan Vosganian to make public the contracts regional energy traders have with state-owned electricity producers. Basescu said that not even he as president can get access to these contracts right now.
Pressure from the Presidency has prompted changes in the way regional energy traders work on the Romanian market. Energy Financing Team (EFT), the biggest trader in the region, told reportingproject.net that: “Energy traders with export contracts from Romania were approached by the Romanian government with a request to accept a substantial reduction in the deliveries of export energy from the Romanian utilities during the last quarter of 2006, so that the domestic demand for energy could be met.
“EFT has accepted this request, which means that our off-take from Romania during this period has been reduced by 50 percent of the contracted quantities.“This has a negative commercial effect on EFT Group as a whole, in that during this period we are obliged to source more expensive energy from other producers in order to meet our delivery obligations to various clients around Europe.”
