The joint stock company Energocom has extended the contract for the purchase of electricity at the price of 59.90 USD/MWh with the Kuchurgan Power Plant (MGRES) for one more month. Furthermore, a contract for the supply of 30% of the electrical energy needed by Moldova will be signed with the Ukrainian state-run company EnergoAtom. The average price of electricity for June will be about 65.03 USD/MWh, Deputy Prime Minister Andrei Spînu, Minister of Infrastructure and Regional Development, has announced.

The new electricity market rules take effect on June 1. “We are aligning ourselves with the European practice concerning the organization of the wholesale electricity market. The novelty resides in the organization of a balance market and a mechanism for paying imbalances. These mechanisms are applied between the participants in the wholesale electricity market and do not directly affect the end users. After a series of delays, we can now say that we are coming closer to the European standards in this sector. We are determined to implement reforms till the end,” stated Andrei Spînu.

At the end of April, Energocom signed a contract for the purchase of electricity to satisfy 70% of the country’s needs at the price of 59.5 USD/MWh with MGRES following direct negotiations, IPN reports.