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 Film Garden (Grădina cu Filme), the venue in Bucharest’s Alexandru Lahovari Square that hosts outdoor film screenings, will reopen for this year’s season on May 28, Creart, the Center for Creation, Art and Tradition of the Municipality of Bucharest, announced. The program opens with the DokStation Music Documentary Film Festival, the event dedicated to […]
The festival Weekend Sessions returns with another season of events in landmark gardens and museums in Bucharest and, for the first time, in Constanța, on the Romanian Black Sea coast. This year's program includes events dedicated to art, European cinema, dance, and literature, the organizers said. The first weekend of events takes place on May […]
Controversial influencer Andrew Tate, currently facing trial in Romania along with his brother Tristan, will be surrendered to Britain after the legal proceedings, according to the British government. Security minister Dan Jarvis confirmed, in a letter seen by The Telegraph, that Tate would be handed...
Hardliners, a banned motorcycle gang from the Netherlands, is allegedly involved in the theft of the Dacian gold bracelets and helmet loaned by Romania to the Drents Museum, according to RTL Nieuws. Sources in the criminal world and around the police investigation told the Dutch journalists that the...
The second edition of the She's Next program, aimed at supporting the development of women-owned businesses through personalized mentoring sessions, coaching, and grants, kicks off this month with a training phase consisting of free webinars on current topics. The new edition of the program, a project of ING Bank Romania and Visa in collaboration with […]
Early Game Ventures has invested EUR 1.2 million in Servo AI, a startup that transforms CCTV cameras into real-time data tools for retail, HoReCa, and other brick-and-mortar sectors. By applying computer vision and AI, the company helps businesses optimize operations, staffing, customer service, and compliance - insights that were previously only available to online platforms. […]
