The Ministry of Energy published, on Friday evening, the draft Emergency Ordinance on the extension of the price cap for electricity until June 30, 2025 and for natural gas until March 31, 2026. "This normative act aims to establish the following temporary measures: granting support measures similar to those included in Emergency Ordinance no. 27/2022 on the measures applicable to final customers in the electricity and natural gas market during the period April 1, 2022 - March 31, 2023, with subsequent amendments and completions, respectively capping the final invoiced prices and compensating the difference from the budget, for electricity consumers, during the period April 1, 2025 - June 30, 2025; granting support measures similar to those included in Emergency Ordinance no. 27/2022 on the measures applicable to final customers in the electricity and natural gas market during the period April 1, 2022 -March 31, 2023, with subsequent amendments and completions, respectively the capping of final invoiced prices and the compensation of the difference from the budget, for natural gas consumers, during the period April 1, 2025 - March 31, 2026", the draft's substantiation note reads.Thus, the three maximum price caps for electricity will be maintained until the end of June 2025, of 0.68 RON/kWh, 0.80 RON/kWh and 1.3 RON/kWh, VAT included, depending on consumption, and of 0.31 and 0.37 RON/kWh, VAT included, for natural gas.At the same time, the document stipulates that the Ministry of Labor, Family, Youth and Social Solidarity will be obliged to develop, together with other relevant institutions, a methodology for establishing the criteria for identifying and qualifying energy consumers for the application of appropriate social measures and/or financial support and to issue, by June 15, 2025, a Government Decision on the implementation of that methodology and on the amount of support granted.The draft emergency ordinance mentions that the extension of the application of some of the protection measures included in Emergency Ordinance no. 27/2022 on the measures applicable to final customers in the electricity and natural gas market during the period April 1, 2022-March 31, 2023, with subsequent amendments and completions, was necessary given the existing situation at national and international level, determined by the still high level of electricity and natural gas prices, mainly due to the current geopolitical context, so that the prices for electricity and natural gas paid by final customers do not affect economic competitiveness and do not aggravate the level of energy poverty.
Romanian prosecutors conducted house searches in 12 locations in Bucharest and two in Târgu Mureș on Wednesday, November 26, in a case targeting former employees of bankrupt insurer Euroins. Specifically, the searches targeted 10 individuals who held executive management positions within Euroins, as well as the headquarters of legal entities controlled by the Bulgarian shareholders […]
Prices in Bucharest’s premium residential market have doubled over the past few years, reaching record highs amid a severe shortage of supply in the city’s most exclusive neighborhoods, Cushman & Wakefield Echinox said. Areas such as Primăverii, Kiseleff, Aviatorilor, and Dorobanți continue to dominate demand. Over the past 2 or 3 years, prices for premium […]
The Romanian Consulate in New York shared on social media the story of George Pomuț (George Pomutz, born Gheorghe Pomuț), the Romanian-American who facilitated the sale of Alaska to the US. Despite his role in US history, the Romanian is largely unknown today, the Consulate noted. Pomuț was born in the Hungarian town of Gyula, […]
Shares of Cris-Tim Family Holding (BVB: CFH) began trading on the Bucharest Stock Exchange on November 26 after an IPO worth RON 454.35 million (EUR 89.3 million) conducted last month. Cris-Tim is now the largest entrepreneurial company in the food sector on the BVB Main Market. The funds raised from institutional and over 8,000 retail […]
The Fabrica de Glucoză area is undergoing one of the fastest urban transformations in Bucharest, strengthening its position as one of the most dynamic residential and investment hubs in the northern part of the city. The modernization of infrastructure, the reconfiguration of the Dimitrie Pompeiu – Fabrica de Glucoză – Pipera axis, and the overall […]
Furnica Hotel, located near the famous Peleș Castle in the mountain town of Sinaia, and one of the landmark buildings of the Peleș Royal Domain, has been officially put up for sale by the Royal House of Romania. The hotel, whose initial purpose was to serve as housing for the staff employed by the Royal […]
