Moldova to plug power shortfalls with 6-month purchases from Moldovan HPP in Transdniestria

CHISINAU. March 31 (Interfax) - Moldova will buy whatever electricity it lacks in the next six months from the Moldovan hydropower plant (HPP) in Transdniestria, the Energocom state company, which has been authorized by the government to import gas and electricity, said on Friday.

"Energocom has signed a new contract with the Moldovan HPP to buy electricity for Moldova's needs. The contract runs for six months," a post on the company's social media account said.

About 282,000 megawatt-hours will be delivered monthly, or 90% of the shortfall needed on the right bank of the Dniester, for a price of $66 megawatt-hours, $7 cheaper than in the past four months, according to company data.

"The contract would provide the end consumer with electricity and ensure smooth running of the grid. And extending the contract until October 1 provides us with greater stability and predictability," Moldovan Energy Minister Victor Parlicov said.

On October 1, 2022, Gazprom [MOEX: GAZP] cut daily supplies to Moldova by 30% to 5.7 million cubic meters, versus of the demand for 8.06 million cubic meters. Gazprom cited technical issues relating to the limited gas transit via Ukraine. Gazprom has since shipped the same gas volume, 5.7 million cubic meters per day, less than 40% of what Moldova needs at this time of year.