site.btaRomania with Worst Electricity Price to Purchasing Power Ratio in EU - Report

Romania is the EU Member State with the highest electricity price relative to purchasing power, Digi24 reported on Friday, citing the latest report of the Romanian Court of Accounts.

According to the report, Romania saw the highest electricity price increase at the EU level in the second half of 2022 with +112.35%. As of 2019, Romania has become a net importer of electricity, and the trade balance registers a deficit of EUR 735.8 million in this sector in the period 2019-2021.

The report reads: "Romania has set a target to increase its renewable energy generation capacity by 1,816 MW in 2022, however, only 0.64% of the target has been met. In the last six years, only two new renewable-based power generation facilities have been commissioned, with an installed capacity of just 15.56 MW. The average unit costs recorded by Romanian renewable electricity producers registered significant increases, even though there is a downward trend worldwide."

In June 2023, Romania dropped out of the Renewable Energy Country Attractiveness Index, which includes the 40 most attractive countries in terms of investment in the energy sector. Electricity consumption, reported at national level, decreased by 6.32%.

Among the report's findings is that Romania does not have a national energy strategy, a key document that sets out the sector's medium- and long-term objectives and how to achieve them.