AmCham Moldova is concerned about ANRE’s financial sanctions of 38.5 million lei against Rotalin Gas Trading and is in favor of reconsidering the case
AmCham believes that these sanctions will affect the liberalization of the gas market and attracting investment into the sector. In particular, the American Chamber of Commerce in Moldova (AmCham Moldova) expressed deep concern about the decision of the National Energy Regulatory Agency (ANRE) to impose a 38.5 million lei financial sanction on Rotalin Gaz Trading. As noted, created in 2003, Rotalin Gaz Trading invested, according to the company, about $30 million in the gasification of 44 urban and rural settlements, providing natural gas to 22 thousand end consumers. As one of the largest private investors in the natural gas sector of Moldova, the company played an important role in the development of the country's energy infrastructure and actively supported the demonopolization of the natural gas market and the integration of Moldova into the European gas market. However, the company is now faced with an unprecedented situation that could lead to its insolvency. The imposed penalty, amounting to 17.5% of the company's annual turnover and half of its regulated asset base (ARB), threatens the future of the company. This could lead to the operator exiting the market, laying off around 150 employees and significantly reducing investment in the sector. As AmCham Moldova notes, liberalization of the natural gas market is necessary to develop competition, ensure fair prices and strengthen energy security. Opening the market to multiple suppliers provides consumers with more competitive prices and better services, stimulates innovation and investment in infrastructure, and reduces dependence on individual suppliers. “Given the above, we hope that the authorities will carefully consider the Rotalin Gaz Trading case, taking into account the overall impact on the gas market and the predictability of the business climate, thereby protecting the legitimate interests of investors and promoting sustainable development of the energy sector of Moldova. Unfair and unjustified treatment can harm both the image of Moldova and the operating activities of the company, violating international treaties on the promotion and protection of foreign investment,” AmCham Moldova emphasized. // 12.07.2024 — InfoMarket
