Press Release

(Bucharest, August 14, 2019)

OPCOM - projects launched or in implementation process in the 19th year of operation

A year of operation in which OPCOM, besides the daily operational activity of organization and administration of the centralized energy markets as well as surveillance and reporting, was involved in projects aimed at supporting the development of the energy market in Romania at national and European level, for the benefit of the market participants and, last but not least, of the final consumers.

The Day-Ahead Market for Natural Gas project, with the first transactions established on the platform provided by OPCOM, as well as the provision of specific trading mechanisms for market participants for standardized products markets for medium and long term delivery of the natural gas, represent implemented objectives, whose maturity is expected to accumulate gradually, at the rate sustained by market participants. The intraday market for natural gas project has gone through the development stages according to the requirements of the competent Authority, the implementation and launching of this market being expected for the immediately following period. A trading horizon characterized by liquidity in all European natural gas trading environments and expected to serve to the same extent also to the interests of the natural gas market participants from Romania, in a context characterized by the growing needs of market participants to adjust their positions and thus economically diminishing the imbalances.

In the electricity area, the centralized market for electricity from renewable energy sources supported by green certificates has also passed through the phases of design, development and implementation, the production launch being expected until the end of this new anniversary period of OPCOM. During this period was also developed the project of implementing the provisions of ANRE order no. 31/31.01.2018 regarding the approval of the Regulation for the operation and settlement of the balancing market and of the Regulation for calculation and settlement of the BRP imbalances.

Also, continuing its European course and actively contributing to the implementation of single coupling of day-ahead and intraday electricity markets, OPCOM has undertaken activities within regional and European projects, details regarding the recorded evolutions being permanently brought to the attention of the participants by informing on the significant achievements in the development and implementation of Core FB MC, Interim Coupling, XBID, active involvement of market participants being foreseen in a first stage for the autumn of 2019 for the intraday market horizon, respectively in 2020 for the day-ahead market horizon.

In the green certificates area, the year 2019 marks the moment of the implementation of the green certificates anonymous centralized spot market, with the first trading sessions and absolute records that have exceeded monthly transactions of more than 1 million certificates.

Last but not least, a project in the process of implementation in the 19th year of operation is the one dedicated to launching futures contracts with the underlying asset price indices established on the administered energy markets, the involvement of OPCOM from this perspective being decisive and supporting the development of a central counterparty in Romania, as a viable solution for the guarantee, clearing and settlement of term transactions and derivative financial instruments.

Also, correlated with its participation in all European projects being in the process of implementation and aiming to create single coupling of electricity markets, OPCOM has continuously carried out activities in coordination with other nominated electricity market operators as defined in the provisions of the relevant European regulations in order to ensure the fulfilment of the objectives regarding the terms, conditions and methodologies related to the markets coupling, permanently informing the market participants on recorded developments.

The REMIT reporting remains one of the permanent objectives of OPCOM, the accuracy of the data and timely submission of data being permanently in our attention.

These are the challenges that we have had this year of OPCOM’s existence, the achievements and the expected developments determining us to look confidently towards the future of the energy market in Romania and of the market participants and, last but not least, of OPCOM, from the perspective of its decisive role in the national and pan-European energy market.

About OPCOM
OPCOM is the Romanian Electricity and Gas Market Operator. Since 2000, OPCOM has been committed to strengthen a marketplace where energy and environmental certificates are traded in conditions of transparency and integrity. Today, the trading portfolio offered by OPCOM ranges from electricity products to gas products, as well as green certificates. More than 900 companies are using the products available for trading on short-term electricity, gas and green certificates markets as well as on term markets for electricity, gas and green certificates bilateral contracts. In addition to this role, OPCOM is responsible for settlement of the transactions concluded on short-term energy markets, Balancing Market as well as the Imbalances of the Balancing Responsible Parties. OPCOM also manages the Green Certificates Register. Today, OPCOM is acting as Registered Reporting Mechanism under REMIT for more than 460 companies active on its electricity and gas markets. OPCOM was designated by the Romanian Energy Regulatory Authority as Nominated Electricity Market Operator (NEMO) in accordance with the Regulation (EU) 2015/1222 for fulfilling tasks related to the coupling of the day-ahead and intraday markets.
OPCOM applies the Quality Management System complying with ISO 9001 - SR EN ISO 9001, respectively the Information Security Management System complying with ISO/IEC 27001 - SR EN ISO/IEC 27001, both systems being certified by Lloyd's Register LRQA. 
For more information about OPCOM, please visit us at www.opcom.ro.

PRESS RELEASE 14.8.2019