Energy Minister Sebastian Burduja tried to explain energy price differences in the EU

The problem of the big differences in energy prices in the EU and the need for a functioning market will be discussed at a ministerial meeting of Member States' officials, at the request of Romania, Bulgaria and Greece, Energy Minister Sebastian Burduja said.

He explained that, a month ago, this region had the highest prices in Europe, 234 euros per megawatt-hour in Romania, with similar levels in Bulgaria, Greece and Hungary, while in western Europe the price was less than half that, 104 euros in France and 116 euros in the Iberian peninsula, compared with 115 euros in Germany.

The countries that have asked for the situation to be reviewed believe that the lack of cross-border interconnection prevents efficient energy flows to south-eastern Europe at critical times, with the effect on prices, which rise significantly, especially in the evening when renewable generation drops.

Sebastian Burduja spoke today about the proposals to be presented to the Council of Ministers on October 15:

"One of the common demands of Romania, Bulgaria and Greece is to continue to overtax the profits of some producers, some traders, who, by exploiting these market differences, of course have higher revenues and higher profits. This is a form of continuing a compensation-capping scheme. Let's see to what extent we will be able to keep the caps on the final consumer. For vulnerable consumers in the energy sector there will definitely be some form of support and we don't expect bills to go up, which currently for those with a small consumption of less than 100 kilowatt hours per month, are somewhere between 42-45 lei, so it seems a reasonable amount for most of us", says Sebastian Burduja.

Translated by: Radu Matei