According to the provisions of the primary and secondary legislation in force, of the applicable orders and regulations of the relevant ministries / authorities, as well as according to the provisions of the European legislation with direct applicability, the company Operatorul Pietei de Energie Electrica si de Gaze Naturale “OPCOM” S.A. fulfills the role of organizer and administrator of the centralized markets for electricity (excepting the balancing market), natural gas and green certificates, the role of single purchaser function in the electricity market during the period of use of the electricity centralized single purchasing mechanism, providing an organized, viable and efficient framework for the commercial trades’, complying with the consistency, correctness, impartiality, independence, equidistance, transparency and non-discrimination conditions.
The main activities performed by OPCOM according to the primary and secondary legislation and of the elements of the mentioned legal framework in force:
- Performing the organization and administrating activities of the centralized electricity markets;
- Performing the Settlement Operator function by performing the settlement operations for Day-Ahead Market for electricity respectively natural gas and Intraday Market for electricity;
- Performing the role of Nominated Electricity Market Operator (NEMO);
- Performing the role of single purchaser function in the electricity market during the period of use of the electricity centralized purchasing mechanism, as well as determining the payment obligations/collection rights for the performed trades;
- Performing the function of organizer and administrator of the Green Certificates Market;
- Performing the administration activity of the centralized markets in the natural gas sector;
- Performing the activities as Registered Reporting Mechanism (RRM);
- The activity of the administered markets’ surveillance;
- Collects and publishes the statistical market data, according to the provisions of the Energy Law.
- Active participation within the European energy market aiming the creation of the European single market;
- Performing the role of CfD counterparty under the Contracts for Difference support scheme for low carbon technologies.
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The objective of public policy of the Company
OPCOM is performing its activity in full compliance with the Law No. 123/2012 related to electricity and natural gas, the Law No. 220/2008 (republished) setting the promotional system for production of energy from renewable sources, with the further modifications, of the secondary legislation issued and approved by the Romanian Energy Regulatory Authority (ANRE), with the provision of the licenses granted by ANRE, respectively the License No. 407 for the administration of the centralized markets for electricity and License No. 2270 for the administration of centralized markets in the natural gas sector. Also, the activity and the development of OPCOM are performed so to assure the fulfillment of the company’s objectives and responsibilities according to the governing program, the national energy strategy, the governmental memorandums and decisions, the agreements undertaken by the Romanian state with the international financing institutions.
OPCOM assures an organized, viable and efficient framework for the deployment of the commercial trades in the organized centralized markets, in conditions of consistency, correctness, impartiality, independence, equidistance, transparency and non-discrimination.
At the same time, in its activity and development, OPCOM complies with the provisions of the European legislation applicable to its role and responsibilities (among others the Regulation (EU) 2015/1222 on establishing a guideline on capacity allocation and congestion management, the Regulation (EU) No 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and transparency and the Regulation (EU) No 1348/2014 on data reporting implementing Article 8(2) and Article 8(6) of Regulation (EU) No 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and transparency).
It should be mentioned that OPCOM is Nominated Electricity Market Operator (NEMO) for the Day-Ahead and Intraday Electricity Markets for the bidding zone Romania, in the sense of the provisions of the Regulation (EU) 2015/1222 with applicability to the coupling of these markets and participates to the implementations of the provisions of this Regulation.
OPCOM had been qualified by ACER as Registered Reporting Mechanism, in order to report the offers and trades performed by the participants to the Romanian wholesale market.
From the perspective of its domain of activity and responsibilities, OPCOM is member of the international association of energy exchanges (APEx, Association of Power Exchanges), of the European association of energy exchanges (Europex, Association of European Energy Exchanges), other national committees and associations.
In order to guarantee towards the third parties and the involved authorities on the quality of the services provided based on the gained licenses, OPCOM applies a Quality Management System according to ISO 9001:2015. Also, in order to guarantee the security, confidentiality and availability of the information of the interested parties, OPCOM applies an Information Security Management System according to ISO/IEC 27001:2022. Both systems are certified by LRQA.
OPCOM performs the needed actions for fulfilling its mission to provide reference prices for electricity and natural gas as well as term price signals for electricity and natural gas and assuring the market conditions as a whole, needed for the achievement of the objectives of the national energy strategy and aimed for increasing the general transparency and integrity of the Romanian energy wholesale market, supporting the process for completing the market liberalization process and its integration in the European single market.
OPCOM performs, through a sustained, consistent and active approach, in co-operation with the involved Romanian entities as well as the European partners, the needed actions in the the context of implementation of the provisions of the European legislation and decisions dedicated to the establishing and opeartion of the electricity sigle market, including the participation to the bilateral, regional and pan-European co-operation processes dedicated to the coupling of the electricity markets on the crossborder day-ahead and intraday time horizons.
OPCOM evolves from corporate, technical and technological point of view so to permanently, reliably and safely fulfill the responsibilities attributed by the applicable primary and secondary legislation and European legislation and seeks the harmonization of its own evolution process with the evolution of the market commercial mechanisms, of its trends and risks, as well as with the maturity level of the market.
At the same time, the company applies modern management measures in conditions of superior quality and assures the company’s administration from economic and financial point of view with complete compliance with the legislation in force and in conditions of efficiency and effectiveness.