Apollo Trading

𝗥𝗼𝗺𝗮𝗻𝗶𝗮’𝘀 𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿𝘀 𝗖𝗮𝗻 𝗡𝗼𝘄 𝗕𝗲 𝗣𝗮𝗶𝗱 𝗳𝗼𝗿 𝗘𝗹𝗲𝗰𝘁𝗿𝗶𝗰𝗶𝘁𝘆 𝗙𝗹𝗲𝘅𝗶𝗯𝗶𝗹𝗶𝘁𝘆

New rules approved by ANRE will allow eligible consumers to be paid for temporarily and voluntarily reducing their electricity consumption when flexibility is needed.

Transelectrica determines when flexibility is required and organizes auctions, where consumers, suppliers and aggregators can offer how much consumption they can reduce and at what price. There is no fixed payment for reducing consumption: 𝘁𝗵𝗲 𝘃𝗮𝗹𝘂𝗲 𝗼𝗳 𝗳𝗹𝗲𝘅𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝘀 𝗱𝗲𝘁𝗲𝗿𝗺𝗶𝗻𝗲𝗱 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝘁𝗵𝗲 𝗮𝘂𝗰𝘁𝗶𝗼𝗻.

The timing is particularly relevant after Romania’s experience this summer, when consumers were encouraged to shift electricity use away from peak periods during tighter system conditions.

The new mechanism takes that idea a step further by giving voluntary demand reductions an actual market value. When the system needs flexibility, reducing or shifting consumption can become part of the solution alongside generation and storage.

𝗙𝗹𝗲𝘅𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝘀 𝗻𝗼𝘁 𝗼𝗻𝗹𝘆 𝗮𝗯𝗼𝘂𝘁 𝗵𝗼𝘄 𝗺𝘂𝗰𝗵 𝗲𝗹𝗲𝗰𝘁𝗿𝗶𝗰𝗶𝘁𝘆 𝘄𝗲 𝗰𝗮𝗻 𝗽𝗿𝗼𝗱𝘂𝗰𝗲, 𝗯𝘂𝘁 𝗮𝗹𝘀𝗼 𝗮𝗯𝗼𝘂𝘁 𝘄𝗵𝗲𝗻 𝘄𝗲 𝗰𝗵𝗼𝗼𝘀𝗲 𝘁𝗼 𝗰𝗼𝗻𝘀𝘂𝗺𝗲 𝗶𝘁.

𝗥𝗼𝗺𝗮𝗻𝗶𝗮’𝘀 𝗲𝗻𝗲𝗿𝗴𝘆 𝗺𝗶𝘅 𝗶𝘀 𝗰𝗵𝗮𝗻𝗴𝗶𝗻𝗴 𝗶𝗻 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗵𝗮𝗹𝗳 𝗼𝗳 𝟮𝟬𝟮𝟲.

While domestic energy production declined by 𝟮.𝟲%, renewable electricity generation increased significantly.

Solar led the growth:

☀️ Solar: 𝟯.𝟮𝟱𝟵 𝗧𝗪𝗵, up 𝟰𝟮.𝟭%
💧 Hydro: 𝟳.𝟰𝟴𝟵 𝗧𝗪𝗵, up 𝟭𝟳.𝟵%
🌬️ Wind: 𝟯.𝟮𝟳𝟯 𝗧𝗪𝗵, up 𝟵%

Meanwhile, thermal generation fell by 𝟱.𝟵% and nuclear production by 𝟭𝟭.𝟳%.

Solar’s rapid growth follows the addition of around 𝟮,𝟮𝟬𝟬 𝗠𝗪 of photovoltaic capacity in 2025, including approximately 𝟭,𝟬𝟬𝟬 𝗠𝗪 from prosumers.

Electricity consumption also declined, with final consumption down 𝟯.𝟯% and household consumption down 𝟭𝟭.𝟴%. The rapid growth of prosumers likely contributed to this decline, with installed capacity rising from around 𝟴𝟱 𝗠𝗪 at the end of 2021 to more than 𝟯,𝟱𝟬𝟬 𝗠𝗪 by early 2026.

The numbers show a Romanian power system that is gradually shifting toward a larger renewable contribution, even as overall production and consumption patterns continue to change.

Source: Business Review, based on provisional INS data
https://business-review.eu/energy/renewables-gain-ground-in-romanias-h1-energy-mix-299483

𝗛𝗼𝘄 𝗟𝗼𝗻𝗴 𝗖𝗮𝗻 𝗕𝘂𝗹𝗴𝗮𝗿𝗶𝗮 𝗞𝗲𝗲𝗽 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝗶𝗻𝗴 𝗳𝗿𝗼𝗺 𝗥𝗼𝗺𝗮𝗻𝗶𝗮’𝘀 𝗖𝗵𝗲𝗮𝗽 𝗘𝗹𝗲𝗰𝘁𝗿𝗶𝗰𝗶𝘁𝘆?

When Romanian electricity is cheaper, part of that advantage can reach Bulgaria through cross-border trade.

But the connection between the two markets is not unlimited.

For 2026, the Romania-Bulgaria border has a minimum cross-border capacity trajectory of around 𝟮,𝟱𝟱𝟬 𝗠𝗪.

As long as enough capacity is available, electricity can continue flowing toward the higher-priced market. Once the interconnection becomes congested, additional cheap Romanian electricity cannot fully reach Bulgaria and the two prices can begin to separate.

As Romania adds more solar and other renewable generation, this becomes increasingly important. More low-cost electricity only benefits neighbouring markets if the grid has enough capacity to carry it across the border.

𝗔𝘁 𝘀𝗼𝗺𝗲 𝗽𝗼𝗶𝗻𝘁, 𝘁𝗵𝗲 𝗹𝗶𝗺𝗶𝘁 𝗶𝘀 𝗻𝗼 𝗹𝗼𝗻𝗴𝗲𝗿 𝗵𝗼𝘄 𝗺𝘂𝗰𝗵 𝗲𝗹𝗲𝗰𝘁𝗿𝗶𝗰𝗶𝘁𝘆 𝗰𝗮𝗻 𝗯𝗲 𝗽𝗿𝗼𝗱𝘂𝗰𝗲𝗱, 𝗯𝘂𝘁 𝗵𝗼𝘄 𝗺𝘂𝗰𝗵 𝘁𝗵𝗲 𝗴𝗿𝗶𝗱 𝗰𝗮𝗻 𝗺𝗼𝘃𝗲.

Bulgaria is likely to continue benefiting from lower-priced Romanian electricity, but toward the end of the decade the ability of the grid to keep pace with Romania’s renewable growth could become increasingly important.

Source: Transelectrica network development and congestion data; ACER.

🎉 𝗔𝗽𝗼𝗹𝗹𝗼 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝘁𝘂𝗿𝗻𝘀 𝟯!

Three years of projects, partnerships and shared successes.

Today, we want to thank all our partners and collaborators for the trust and support that have accompanied us along the way.

We look forward to continuing this journey together and to everything the years ahead will bring.

𝗕𝗲𝗰𝗮𝘂𝘀𝗲 𝘀𝘂𝗰𝗰𝗲𝘀𝘀 𝗶𝘀 𝗯𝘂𝗶𝗹𝘁 𝘁𝗼𝗴𝗲𝘁𝗵𝗲𝗿. 💙

𝗖𝗼𝘂𝗹𝗱 𝘁𝗵𝗲 𝗗𝗮𝗻𝘂𝗯𝗲 𝗘𝗻𝗲𝗿𝗴𝘆 𝗖𝗿𝗶𝘀𝗶𝘀 𝗖𝗿𝗲𝗮𝘁𝗲 𝗮𝗻 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗳𝗼𝗿 𝗥𝗼𝗺𝗮𝗻𝗶𝗮’𝘀 𝗦𝗼𝗹𝗮𝗿 𝗣𝗿𝗼𝗱𝘂𝗰𝗲𝗿𝘀?

Historically low Danube levels have put pressure on Romania's electricity system this summer, affecting hydropower production and creating constraints for Cernavodă.

At the same time, average OPCOM Day-Ahead Market prices during the first ten days of each summer month increased:

June: 𝟱𝟲𝟳.𝟬𝟬 𝗹𝗲𝗶/𝗠𝗪𝗵 (€108.20/MWh)
July: 𝟲𝟯𝟳.𝟮𝟵 𝗹𝗲𝗶/𝗠𝗪𝗵 (€121.62/MWh)
August: 𝟳𝟴𝟱.𝟱𝟵 𝗹𝗲𝗶/𝗠𝗪𝗵 (€149.92/MWh)

The increase cannot be attributed to the Danube crisis alone, but reduced generation availability has played a role in tightening Romania's power balance.

For solar producers, this can have an important side effect.

When strong solar production meets high generation elsewhere in the system, midday prices can fall toward zero or even become negative. At 0 lei/MWh, electricity can still be sold, but there is little economic incentive to inject additional production. 𝗧𝗵𝗲𝘀𝗲 𝘇𝗲𝗿𝗼-𝗽𝗿𝗶𝗰𝗲 𝗵𝗼𝘂𝗿𝘀 𝗼𝗳𝘁𝗲𝗻 𝗶𝗻𝗱𝗶𝗰𝗮𝘁𝗲 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲𝗿𝗲 𝗶𝘀 𝗺𝗼𝗿𝗲 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗴𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗼𝗻 𝘁𝗵𝗮𝗻 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗰𝗮𝗻 𝗮𝗯𝘀𝗼𝗿𝗯, leaving part of that production curtailed or limited. When conventional supply tightens, that previously constrained generation has more room to enter the market and meet demand.

𝗪𝗶𝘁𝗵 𝗹𝗲𝘀𝘀 𝗴𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗼𝗻 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗲𝗹𝘀𝗲𝘄𝗵𝗲𝗿𝗲, 𝘁𝗵𝗼𝘀𝗲 𝘀𝗮𝗺𝗲 𝘀𝗼𝗹𝗮𝗿 𝗵𝗼𝘂𝗿𝘀 𝗰𝗮𝗻 𝗯𝗲𝗰𝗼𝗺𝗲 𝗺𝗼𝗿𝗲 𝘃𝗮𝗹𝘂𝗮𝗯𝗹𝗲.

Source: OPCOM Day-Ahead Market data. Analysis: Apollo Trading.

𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐚𝐫𝐛𝐢𝐭𝐫𝐚𝐠𝐞 𝐢𝐬 𝐛𝐞𝐜𝐨𝐦𝐢𝐧𝐠 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠𝐥𝐲 𝐬𝐞𝐚𝐬𝐨𝐧𝐚𝐥 𝐢𝐧 𝐑𝐨𝐦𝐚𝐧𝐢𝐚.

Romanian Day-Ahead Market prices from 2021 to 2025 show a clear change between hot and cold periods.

In 2021–2023, the difference was limited or even favoured colder months. From 2024, a much stronger seasonal divergence appeared.

For a 2-hour battery, average daily spreads reached:

2024: 1,065.08 lei/MWh (€214/MWh) hot vs 639.74 lei/MWh (€129/MWh) cold
2025: 869.83 lei/MWh (€175/MWh) hot vs 652.03 lei/MWh (€131/MWh) cold

For 4-hour storage:

2024: 867.08 lei/MWh (€174/MWh) hot vs 541.72 lei/MWh (€109/MWh) cold
2025: 729.13 lei/MWh (€147/MWh) hot vs 568.14 lei/MWh (€114/MWh) cold

This is where seasonal cannibalization becomes relevant. Stronger solar production during sunnier periods can push prices lower during solar hours, reducing the value captured by solar while creating wider price differences that batteries can use for arbitrage.

That creates an interesting seasonal relationship.

In colder periods, batteries have capacity available, but lower solar generation and narrower spreads can leave fewer opportunities to use it. In sunnier periods, abundant solar creates stronger storage opportunities, but more batteries are needed to shift that energy toward higher-value hours.

Batteries need solar, and solar increasingly needs batteries.

High temperatures can also affect battery performance when thermal limits are reached, adding another consideration during the warmer months.

As Romania adds more solar and storage, the relationship between the two will become increasingly important.

Source: OPCOM Day-Ahead Market (DAM) prices, 2021–2025. Analysis: Apollo Trading.

𝐑𝐨𝐦𝐚𝐧𝐢𝐚'𝐬 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜𝐢𝐭𝐲 𝐬𝐲𝐬𝐭𝐞𝐦 𝐥𝐨𝐨𝐤𝐬 𝐯𝐞𝐫𝐲 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭 𝐭𝐨𝐝𝐚𝐲 𝐭𝐡𝐚𝐧 𝐢𝐭 𝐝𝐢𝐝 𝐬𝐞𝐯𝐞𝐧 𝐲𝐞𝐚𝐫𝐬 𝐚𝐠𝐨.

Between 2018 and 2025, coal capacity fell from 5,920 MW to 2,520 MW, while renewable capacity more than doubled, increasing from 4,420 MW to 9,520 MW.

Coal generation also declined from 15.65 TWh to 7.56 TWh, while renewable generation increased from 8.09 TWh to 10.84 TWh.

Installed capacity and electricity generation do not grow at the same pace. Adding renewable capacity does not translate into the same increase in electricity generation, as each technology contributes differently to the power system.

The shift is visible not only in generation, but also in consumption. Romania consumed less electricity in 2025 than in 2018, falling from 61.53 TWh to 53.60 TWh. The transition is therefore not only about replacing coal with renewables, but also about changing electricity demand.

The numbers show how Romania's electricity mix continues to evolve, bringing new opportunities while increasing the importance of flexibility, storage and system balancing.

Source: Ember electricity data; ANRE prosumer

🌬️ 𝐖𝐞 𝐛𝐮𝐢𝐥𝐭 𝐭𝐡𝐞 𝐧𝐞𝐱𝐭 𝐭𝐨𝐨𝐥 𝐢𝐧 𝐭𝐡𝐞 𝐀𝐩𝐨𝐥𝐥𝐨 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐟𝐚𝐦𝐢𝐥𝐲.

Meet 𝐀𝐩𝐨𝐥𝐥𝐨 𝐖𝐢𝐧𝐝𝐑𝐞𝐯𝐞𝐧𝐮𝐞, a free calculator that estimates how much a wind energy installation could have earned if its production had been sold on Romania’s Day-Ahead Market.

Select the location, analysis period, turbine model and number of turbines, and the app estimates:

✅ wind energy production
✅ potential market revenue
✅ results for the selected period
✅ a downloadable report

Apollo WindRevenue is designed for investors, developers, operators and anyone interested in understanding the potential market value of a wind energy project.

Cannot find your turbine model? Write to us at [email protected] and we will look into adding it.

Try it for free:

🇷🇴 https://www.apollotrading.ro/wind-revenue/
🇬🇧 https://www.apollotrading.ro/en/wind-revenue/

𝐖𝐡𝐞𝐧 𝐏𝐞𝐨𝐩𝐥𝐞 𝐓𝐫𝐚𝐯𝐞𝐥, 𝐓𝐡𝐞𝐢𝐫 𝐄𝐧𝐞𝐫𝐠𝐲 𝐅𝐨𝐨𝐭𝐩𝐫𝐢𝐧𝐭 𝐅𝐨𝐥𝐥𝐨𝐰𝐬

NIBIRU, a Romanian festival on the Black Sea coast, can temporarily change where electricity is consumed.

As visitors arrive, demand shifts toward accommodation, cooling, restaurants, event infrastructure and local transport, concentrating energy use in one region.

Travel and temporary infrastructure also add to the wider carbon footprint.

For the regional power system, the impact is shaped by both the volume of consumption and where and when it appears.

People change location, and their energy footprint follows.

𝐒𝐩𝐚𝐢𝐧 𝐢𝐬 𝐥𝐚𝐮𝐧𝐜𝐡𝐢𝐧𝐠 𝐚 𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐦𝐚𝐩 𝐨𝐟 𝐚𝐠𝐫𝐢𝐯𝐨𝐥𝐭𝐚𝐢𝐜 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬.

The platform will bring together operational and planned projects, providing information on their location, capacity, land area, associated crops and technology.

Agrivoltaics allows agricultural activity and solar electricity generation to share the same land.

The map is expected to improve transparency, support planning and make project data more accessible to farmers, developers, authorities and investors.

Spain’s experience could provide a useful reference for Romania and support the development of similar initiatives adapted to the local agricultural sector.

For a major agricultural country like Romania, agrivoltaics and on-site electricity consumption could lower energy inputs and production costs. This could support more affordable products for consumers and stronger margins for farmers and agricultural businesses.

Source: pv magazine
https://www.pv-magazine.com/2026/07/09/spain-launches-national-map-of-agrivoltaic-projects/