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.
Exim Banca Românească continues the savings campaign under which it pays attractive interest rates, above the market average, for new deposits in lei and euro, over 7 months: interest rates of up to 7.20% per year for lei and 2.50% per year for euro. The offer is available both for the PLUS deposit in lei, […]
In a telecom market shaped by economic pressure, fierce competition, and rapidly evolving consumer habits, Orange Romania is betting heavily on network leadership as its defining advantage. With the largest 5G spectrum investment in the country’s history - around EUR 265 million - the company is doubling down on speed, coverage, and long-term infrastructure at […]
The Romanian job market was marked by extremes in 2025, according to an analysis by employment platform BestJobs. In some sectors, job-seekers dictated the rules, while in others they fiercely competed for a limited number of positions, giving employers the upper hand. In the IT sector, the limited number of available positions led to a […]
Poiana Brașov, a popular mountain resort in central Romania, will host a new winter event format starting in 2026, as Untold Universe launches Massif Week, scheduled to take place between February 27 and March 8. The initiative is designed to diversify the resort’s winter offering and extend the tourist season through a series of indoor […]
A memorial march will take place in central Bucharest on December 21 to mark the victims of the 1989 Revolution, which led to the fall of communism in Romania. The march will follow the Victory Square – University Square – Revolution...
Cushman & Wakefield Echinox announced the completion of the sale of the Zenith Conference & Spa hotel in Mamaia, one of the top hospitality units on the Romanian seaside, to the owners of Steaua de Mare Hotels & Resorts, based in Eforie Nord. The property was previously controlled by the RC2 investment fund and Antares […]
