Moldova reduces regulated electricity tariffs 12%-15%

CHISINAU. July 29 (Interfax) - Moldova's National Agency for Energy Regulation (ANRE) has lowered regulated electricity prices for end consumers, the ANRE said, citing a decision by its board of directors.

The tariff adjustment affects two main electricity suppliers to end consumers - Premier Energy (serving central and southern Moldova) and Fee Nord (serving northern Moldova).

According to ANRE's decision, electricity prices for Premier Energy consumers have decreased 12.5%, while Fee Nord consumers will pay 14.6% less than current rates.

The reduction in electricity tariffs for end consumers is linked to an approximately 11% decrease in the average electricity purchase price, the ANRE said.

Moldovan Prime Minister Dorin Recean said on Tuesday that necessary conditions exist for reducing electricity tariffs.

"There were months when purchases were made at higher prices, followed by several months at lower prices. Now the market has stabilized, and we have the necessary prerequisites to implement this electricity tariff reduction," Recean was quoted as saying by the state news agency Moldpres.

The share of renewable energy in consumption has increased approximately eightfold, reaching record levels of 30%-40% of daily consumption in recent months, he said.

It was previously reported that at the beginning of this year, due to the cessation of Russian gas supplies to Transdniestria, right-bank Moldova lost access to cheap electricity that Chisinau had been purchasing from the Moldavskaya GRES (MoldGRES) power plant located in Transdniestria. As a result, Moldova sharply increased imports of more expensive electricity from Romania, leading to a 1.8-fold increase in domestic electricity tariffs and a spike in inflation.