Oil & Gas

Lowest Price of Natural Gas in the Last 6 Months on the Spot Market in Romania

The spot gas market in Romania, operated by the Romanian Commodities Exchange (BRM), recorded the lowest price of the last 6 months, i.e. RON 67/MWh. Thus, the spot gas price fell below the regulated price of RON 68, witnessing a downward trend lately.

Thus, on October 20, 2019, 300 MWh were traded at the price of RON 67 on the Intra-Day Market, and at the total quantity traded on this market (990 MWh) resulted in a weighted average price of RON 68.12.

The total quantity traded on October 20, 2019 on SPOT markets of BRM was 990 MWh on the Intra-Day Market and 2,074.603 MWh on the day ahead market for natural gas.

On October 20, 2019, weighted average prices for day ahead (RON 78.65/MWh) and intraday (RON 68.12/MWh) were below RON 80/MWh, witnessing an obvious downward trend.

Following the introduction of the gas price of RON 68/MWh both suppliers and producers, waiting for a better price, in the cold season, preferred to store significant gas quantities from the domestic production.

 

About BRM

The Romanian Commodities Exchange is a private company of public interest, established in November 1992, the first trading session taking place on December 10, 1992. Currently, BRM’s activity is regulated under Law no. 357/2005 on commodity exchanges and under Law 297/2004 on the capital market. BRM organizes several types of markets of public interest, the main activity being focused on the cash market and the auction market. In the Cash Market, the commodities traded are: natural gas, electricity, petroleum products, coal, fuel processing, CO2 allowances, general merchandise, building materials, vegetables, fruits, grains.

In 2007, BRM issued for the first time for the Romanian market the first quotations for petroleum products, and in late 2013 it issued the first quotations for grains.

In the Auction Market procedures carried out are of acquisition, sale, rental, BRM being the most important consultant in the area of public procurement for products, services and works for any type of contracting authority.

BRM’s activity is carried out at the headquarters in Bucharest and through the territorial network that includes 20 terminals.

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