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October 5, 2022

European Commissioner for Energy: Regulatory authorities must be independent and autonomous, for markets to function

Regulatory authorities in the energy field must be independent and autonomous, in accordance with the European legislation, and the European Commission will take all the necessary measures to make sure that member states comply with their obligations in this area, European Commissioner for Energy Miguel Arias Canete told a press conference held on Thursday in Bucharest.

“The independence of the national regulatory authorities, not just from Romania, but from any country, is an essential element of the European energy legislation. The Commission monitors the real independence of the regulatory authorities in all the member states and it will take all the necessary measures to make sure that member states comply with their obligations in this area. We are monitoring member states to see whether their national regulator is completely independent,” said the European official.

According to him, the independence of regulators is essential for markets to function.

“We do not want regulators to be subordinated to any entity, we want them to be independent, autonomous, so that the markets will be able to function well, without interferences,” said Canete.

The Romanian Parliament on Wednesday decided to establish a parliamentary committee of inquiry into the activity of the National Energy Regulatory Authority (ANRE).

On the other hand, at the same press conference on Thursday attended by the European Commissioner for Energy, Romanian Energy Minister Toma Petcu stated that this committee will also inquire into the causes that triggered the increases in prices for energy ANRE announced for October 1, for gas and energy.

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