An increase of 25% for electricity and 25-30% for gas against September 2021 would lead to values to +50 – 60% against last year, states Claudiu Cazacu, consulting strategist with XTB, brokerage house listed with Warsaw Stock Exchange. In Europe, the quotations of the gas and electricity have registered record values, day in day out. Similarly, such an acceleration of the prices is unprecedented in history. The environment does not look at all like the previous one, and things change in a rapid rhythm. Every day the balance of the market may change, he says. ‘What is in store for the consumers of Romania? As there is no capping of prices, very painful growth of the cost of utilities, not good news in the conditions where inflation, announced as 6.29% surpasses the official estimates at the beginning of the year and could continue. Spain and other states together with Romania require a joint approach at European level as regards the purchase of natural gas and a mechanism of compensation – in the present situation capping interventions would be accepted by the European authorities only through waiver. Subscriptions and compensations already accepted (0.21 lei/kWh for energy and 25% of a key price of125 lei/MWh for natural gas) have an estimated impact of 1.3 billion lei, and can cover only partly the increase of the bills for this winter, if the basic prices for electricity and gas do not come back close to the levels of last year’ he adds. A medium scenario which takes into consideration a moderate slowdown following the surpassing of the present disparities, balancing of the offer/request ( a severe way of doing it would be through the reduction of consumption, of industrial activity or rationing) and increased offer from the producing states would induce bills higher by two figures during the winter months. The inflation data show, in September, growth of 24.65% for electricity and 20.55% for gas.
Romania’s government adopted in its January 10 meeting a decision granting an extra day off to public sector employees at the beginning of May. Thus, Friday, May 2, will be an official day off for public sector workers, linking the legal holiday of May 1 (Labor Day) with the weekend (May 3-4). This...
The Ministry of Environment announced that 2024 was the hottest year in the history of Romania's meteorological records. Red alerts for heat waves began in June of 2024, with the longest consecutive periods of persistent and intense heat waves, six consecutive days, between July 13-18 and August 15-20. "The year 2024 is the hottest year...
Supporters of former presidential candidate Călin Georgescu gathered outside the Parliament Palace in Bucharest, which houses the Constitutional Court, on January 10, demanding a rerun of the second round of the presidential elections. The protest, dubbed "The Great Judicial Union," was initiated by Georgescu, who called on his supporters to challenge the election annulment, as […]
International Workplace Group, a provider of hybrid working solutions, recently announced the opening of a modern flexible workspace in Bucharest. Located in the Vastint Business Garden building, this new location comes to meet a demand for shared workspace in the area. The new Spaces center also offers a variety of amenities, including restaurants, fitness centers, […]
Over 7,800 lighting fixtures on 34 boulevards in Bucharest are set to be replaced by summer to more energy-efficient options, according to mayor Nicușor Dan. The general mayor mentioned that so far, 4,830 public lighting sources have been renewed with the help of funds from the Environmental Fund Administration. Additionally, the Bucharest City Hall managed […]
Romanian prime minister Marcel Ciolacu announced during the first government meeting this year that over 200 kilometers of highways and express roads are planned to be inaugurated in 2025. Among the key projects highlighted was the Focșani-Brăila expressway, valued at over EUR 1 billion, for which multiple bids have been submitted,
