Market Access & Regulatory Compliance

The two main organised commodities market operators in Romania are BRM S.A. (the Romanian Commodities Exchange) and OPCOM S.A. (the Romanian Electricity and Natural Gas Market Operator).Both operate markets suitable for electricity and natural gas trading activities, including day-ahead, intraday and longer-term markets, as well as markets for bilateral contracts and other standardised products.

Regardless of the chosen market operator, the company must first obtain the relevant regulatory approval from ANRE, the Romanian Energy Regulatory Authority, either in the form of a confirmation decision or an ANRE licence.Once this has been obtained, the principal preparatory steps generally include opening a bank account in Romania, either with a Romanian bank or with the Romanian branch of a foreign bank, and putting the necessary TSO arrangements in place.For electricity-market access, the company must either register as a standalone Balance Responsible Party (BRP) with the Romanian TSO, Transelectrica, or transfer its balancing responsibility to an already registered BRP.For natural gas market access, the company must conclude the relevant balancing and Virtual Trading Point (VTP) access arrangements with the Romanian gas TSO, Transgaz.Only once these preparatory requirements have been addressed can the application for registration with the relevant centralised market operator be completed.

I can assist throughout the entire market-entry process, from the preparatory stages through to the final registration with the selected market operator.This includes support with ANRE licensing or confirmation procedures, banking arrangements, TSO registration and market admission.In particular, I can prepare and coordinate the complete documentation necessary for establishing the relevant arrangements with the Romanian TSO, namely Transelectrica for electricity-market participation and Transgaz for natural gas operations. This includes preparation of applications and supporting documentation, coordination of contractual documents, submission of the file, correspondence with the relevant TSO and assistance with any requests for clarification or remediation of deficiencies.I can also assist with identifying a banking institution suitable for the client’s intended operations and with navigating the KYC and onboarding process, as well as with arranging the necessary bank guarantees or letters of guarantee.Once the banking and TSO arrangements have been completed, I can assist in identifying the markets most appropriate to the client’s intended activities, including short-term and bilateral markets, and in preparing and submitting the registration application to the chosen centralised market operator.