Energocom's Gas Prices Spike in August

Energocom, a company responsible for managing Moldova's gas supply, has purchased natural gas at a price of 57.80 euros/MWh in August. This is a significant increase from July, when they paid 50.12 euros/MWh, which is almost 8 euros cheaper.

The gas was procured under previously concluded forward contracts that guarantee deliveries within agreed timeframes and set the price for the month of delivery as the weighted average of daily prices in the previous month.

Forward contracts help avoid costs associated with transporting, storing, and extracting gas from underground storage facilities in neighboring countries. During procurement, Energocom considers the movements of the main European natural gas price index - the Title Transfer Facility (TTF) in the Netherlands.

Energocom's procurement process involves competitive tenders based on a strategy approved by their Board of Directors. The pre-qualification process assesses suppliers' financial capacity, experience, and operational capabilities.