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Romania energy report

Romania energy report
Update
Format
4 files (PDF report, 3 Excel files)
Pages
45 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY COMPANIES
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

This analysis includes a comprehensive Romania energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

  • Romania targets 31% of renewables in its final energy consumption in 2030.
  • Most power generation is 100% state-owned.
  • Romgaz and OMV Petrom account for 90% of the gas production and dominate the wholesale market.
  • Production covers 90% of the gas consumption and 93% of lignite consumption (2022).
  • CO2-free sources represented 63% of the power mix in 2022. Wind and solar capacities have barely increased since 2015.
  • Electricity and gas prices have surged in 2022 for industry, as have gas prices for households despite the introduction of a price cap.
  • Total energy consumption decreased by 5.6% in 2022, in a context of surging energy prices.
  • The energy intensity is decreasing rapidly (twice the EU pace).
  • OMV Petrom and Romgaz plan to start producing gas from the 100 bcm Neptun Deep gas field in 2027.
  • Two new nuclear units could be commissioned in Cernavoda by 2031.
2nd
largest gas producer in the EU (2022)
63%
carbon-free sources in the power mix (2022)
-4%/yr
decrease in energy intensity since 2010
  • Institutions & Energy Policy

    The energy sector falls under the responsibility of the Ministry of Energy.

    ANRE, the Romanian National Energy Regulatory Authority, regulates the electricity and gas sectors. Since 2010, it is also in charge of energy efficiency policies.

  • Energy Companies

    Gas:

    According to Transgaz, gas consumption should decline until 2030, stabilise until 2040 and decline again until 2050, as new nuclear and renewable capacities should reduce gas demand. Gas production should increase by 1.6%/year between 2022 and 2031 thanks to the Neptun Deep gas project coming on stream in the Black Sea.

  • Energy Supply

    Resources:

    Energy resources are rather abundant. Natural gas reserves are declining (from nearly 390 bcm in 1990 to 74 bcm in 2022). Oil reserves amount to 82 Mt. The country's hydroelectric potential is also substantial (estimated at 70 TWh). Lignite proved reserves are also significant, at 280 Mt.

  • Energy Prices

    Electricity:

    Electricity prices, which had increased regularly between 2012 and 2020 (+3.4%/year for industry and +4%/year for households), were impacted by rising European wholesale prices since 2021. Soaring gas-fired power production costs contributed to raising the average electricity price on the Romanian day-ahead market by 169% in 2021 and by 147% in 2022 to €270/MWh.

  • Energy Consumption

    Energy consumption per capita is about 1.7 toe (2022), which is 42% below the EU average, and electricity consumption amounts to 2 400 kWh/cap (57% below the EU average).

    Total energy consumption decreased by 5.6% in 2022, reaching 32 Mtoe, after a 6.2% rebound in 2021. It decreased by 1.9%/year between 2018 and 2020, after a 1.5%/year increase over 2014-2018.

  • Issues & Prospects

    To boost its production, the country is increasingly opening up to foreign companies. Romania is a net energy importer (net imports covered 32% of its total consumption in 2022) and the Government aims to reverse that dependence.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2022, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2022, %)
  • GRAPH 5: Gasoline & diesel prices (€/l)
  • GRAPH 6: Electricity prices for industry and households (€c/kWh)
  • GRAPH 7: Gas prices for industry and households (€c/kWh GCV)
  • GRAPH 8: Consumption trends by energy source (Mtoe)
  • GRAPH 9: Total consumption market share by energy (2022, %)
  • GRAPH 10: Final consumption market share by sector (2022, %)
  • GRAPH 11: Oil consumption (Mt)
  • GRAPH 12: Oil consumption breakdown by sector (2022, %)
  • GRAPH 13: Electricity consumption (TWh)
  • GRAPH 14: Electricity consumption breakdown by sector (2022 %)
  • GRAPH 15: Natural gas consumption (bcm)
  • GRAPH 16: Gas consumption breakdown by sector (2022, %)
  • GRAPH 17: Lignite consumption (Mt)
  • GRAPH 18: Lignite consumption breakdown by sector (2022, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

The Romania energy market data since 1990 and up to is included in the Excel file accompanying the Romania country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Romania Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Romania energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Romania country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.