Energocom Accused of Exposing Citizens to Gas Price Fluctuations

Members of parliament in Moldova are questioning the business practices of Energocom, the state-owned energy company responsible for purchasing natural gas for the entire population. According to Constantin Cuiumju, a member of parliament and a member of the Parliamentary Committee on Economy, Budget, and Finance, Energocom does not use financial instruments to protect consumers from fluctuations in natural gas prices.

Cuiumju noted that international energy companies widely use mechanisms such as financial options to manage price risks, allowing them to fix the cost of gas purchases in advance. However, Energocom's current procurement model involves determining gas volumes in advance and setting the price later based on market conditions.

This approach can lead to higher costs for consumers when prices rise and lower costs when prices fall, without any control mechanism in place. Cuiumju emphasized that current legislation requires Energocom to ensure maximum efficiency at minimum cost and to use tools to protect against market fluctuations.