The European Commission warned Romania on Wednesday to remove its cap on gas prices or potentially face legal action over the policy, which the EU executive branch said violates the bloc's energy market rules. Gas and power bills for Romanian households, small businesses and public institutions have been capped up to certain monthly consumption levels since November 2021, with suppliers compensated for the difference. In a notice published on Wednesday, the European Commission said the policy violates EU rules on the free formation of wholesale gas prices, since Romania's measure obliges firms to sell part of their production at a fixed wholesale price. "Regulated prices at the level of the EU-wide wholesale market distort price signals and effective market functioning," the Commission said. European wholesale gas prices began climbing in 2021 after Russia limited deliveries. Prices soared to record highs the following year when Moscow further slashed supplies after its February 2022 invasion of Ukraine. Romania's government has two months to respond to the EU warning, after which the Commission can refer the case to the EU's top court, if the matter is unresolved. Ahead of its May 18 presidential election run-off, Romania currently has an interim government which cannot issue decrees or introduce policies. Former Prime Minister Marcel Ciolacu resigned on Monday after hard-right eurosceptic George Simion won the first round of the presidential election re-run. The president elected this month will appoint a new prime minister. In February, the former government extended the gas price cap for a year, and prolonged the power price limits until June, to rein in consumers' bills. Romania produces almost all the gas it consumes domestically, through producers OMV Petrom, state-owned Romgaz and offshore producer Black Sea Oil & Gas.
The Patriarch of the Romanian Orthodox Church, Daniel, congratulated Pope Leo XIV for succeeding Pope Francis on Thursday, May 8. He expressed confidence that the new pope will continue to promote "the spirit of dialogue, peace, and cooperation between the Roman Catholic Church and the Orthodox Church." "In a world facing multiple spiritual, economic, and […]
The organizers of the Untold festival announced they will offer a RON 150 (EUR 30) voucher toward the purchase of a festival pass to anyone who votes on May 18, during the second round of the presidential elections. In an online message, Untold representatives emphasized the connection between civic participation and the future of every […]
The Open Streets program, which sees the city's major arteries close for car traffic and become pedestrian areas, returns this weekend with a program of exhibitions, concerts, and a Festival of Lights. On Saturday, May 10, at 2:00 p.m., the public is invited to the Made in Romania exhibition, which presents a selection of civilian […]
Joseph Stiglitz, the famous economist and professor at Columbia University in New York, and winner of the Nobel Prize in economy in 2001, told an audience in Cluj, Romania, that governments must stimulate exports and key sectors when facing deficits. Stiglitz was in Romania on Thursday, May 8, to receive the title of Doctor Honoris […]
The Constitutional Court unanimously validated on Friday, May 9, the results of the first round of the presidential elections. It also rejected as unfounded a request to annul the elections filed by Sebastian-Constantin Popescu, the presidential candidate of the New Romania Party, it announced. The runoff, set for May 18, will see ultranationalist leader George […]
Bucharest's culinary scene welcomes back OLEA, the JW Marriott Bucharest Grand Hotel's celebrated Mediterranean destination, now reimagined with a fresh concept that blends authentic coastal flavours with contemporary sophistication. Following an extensive transformation, OLEA reopens its doors to offer guests a refined journey through the Mediterranean's sun-drenched culinary traditions, right in the heart of Romania's […]
