Romania will extend its energy price cap and compensation scheme for at least three months for electricity and 12 months for natural gas, energy minister Sebastian Burduja announced following an interministerial meeting on Monday, February 17. 

The measure aims to shield consumers from price hikes and ensure energy affordability amid ongoing market volatility. 

"We are committed to keeping energy accessible without sudden price increases. After extending the price cap, we will introduce new support mechanisms, including energy vouchers for vulnerable consumers," Burduja said, as quoted by News.ro. 

The proposal for the new emergency ordinance will be made public by the end of the week, with the government expected to adopt it next week. 

Burduja emphasized that Romania currently has the fourth cheapest natural gas and the fifth cheapest electricity in the EU, according to Eurostat, thanks to the current price cap scheme. However, recent market fluctuations remain a concern, with gas prices rising 40% and electricity prices increasing 25%. 

"Without the cap, these price hikes would have directly impacted consumer bills. We are taking proactive measures to prevent uncontrolled increases," the minister explained. 

Burduja stressed that boosting domestic energy production is the only sustainable solution to lower bills. 

"Last year, we commissioned over 1,200 MW of new energy projects, including coal, solar, wind, and battery storage. This year, we aim to double that figure," he said.

andrei@romania-insider.com

(Photo source: Facebook/Sebastian Burduja)