ENERGY EXCHANGE IN ROMANIA: REALITIES AND PERSPECTIVES.

Energy Exchanges play an important role in providing public information on energy prices. This is essential to have transparent pricing and reliable electricity wholesale and retail markets. Exchange energy requirement of Romania on registration for Value Added Tax has created an artificial barrier to entry for traders in the EU and, consequently, reduced liquidity in the wholesale electricity market. Number was significantly affected traders. Therefore, the European Commission fined Romanian Power Market Operator (OPCOM) for abusing its dominant position on the Romanian market to facilitate transactions of electricity on the spot market in violation of EU competition rules. [ABSTRACT FROM AUTHOR]