Moldova and the European Bank for Reconstruction and Development (EBRD) have amended the loan agreement regarding the country’s gas supply security to allow the first tranche of 100 million euros to be used for the purchase of electricity. The repayment period and financial terms of the loan remain unchanged.
Since 1 January, Moldova has been sourcing part of its electricity from the European Union’s power market, with the state-owned energy trader Energocom purchasing electricity on energy exchanges, as well as through bilateral contracts with Romanian and Ukrainian suppliers and producers, and from local renewable sources.
The EBRD is providing a total loan of 300 million euros for gas supply security between 2022 and 2025, with the company now using around 48 million euros of the first tranche.
At the same time, the period during which Energocom purchases electricity centrally to meet the needs of final consumers has been extended until 31 December. The centralisation of electricity purchases helps Energocom avoid constraints related to the use of interconnection capacity and prevent congestion that could negatively influence the final price.
Moldova has also recently received EU backing for a two-year energy strategy.