Constantin Cuiumju
Energocom does not use financial instruments that could protect consumers from fluctuations in natural gas prices. This was stated by Constantin Cuiumju, a member of parliament and a member of the Parliamentary Committee on Economy, Budget, and Finance. According to him, he intends to appeal to the Ministry of Energy, the Chamber of Accounts, and the National Energy Regulatory Agency (ANRE) to review the procedures by which the company purchases natural gas.
The lawmaker noted that mechanisms such as financial options are widely used by international energy companies to manage price risks. They allow the cost of gas purchases to be fixed in advance.
“In the business world, there is a mechanism that allows gas to be purchased at a favorable price fixed in advance. All major European gas traders use it. However, Energocom—the company that purchases gas for the entire population of the Republic of Moldova—does not use this tool at all,” stated Constantin Cuiumju.
According to the lawmaker, the current procurement model involves determining gas volumes in advance, while the price is set later—depending on market conditions.
“Essentially, they don’t care how much gas costs. If the market rises, we pay more; if it falls, we pay less. But there is no control mechanism in place,” he emphasized.
Constantin Cuiumju also cited current legislation, which requires Energocom to ensure maximum efficiency at minimum cost and to use tools to protect against market fluctuations.
According to the lawmaker, the use of risk-hedging mechanisms could reduce the costs currently borne by consumers.
“The public should not have to pay for missed opportunities and for a model in which companies are, in essence, indifferent to how much citizens pay for gas,” concluded Constantin Cuiumju.
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