The main objective of the Memorandum of Understanding (MoU) signed on 5 April 2023 is to strengthen the cooperation between TGE and Energocom S.A. In the document, the two parties have agreed to work together towards three principal goals, which include introducing the Moldovan party to the operation of exchange-based commodity markets for electricity and natural gas, also with regard to regulatory, organisational and market-related aspects, as well as presenting the terms of membership in the Warsaw-based Exchange to Energocom and supporting the process of building a competitive electricity and gas market in Moldova.
‘With the signing of the MoU with Energocom, TGE made its first step in the Moldovan market. As a mature organisation we recognise the significant business potential arising primarily from the enormous needs for modernisation and transformation of the economy in our partners' country. TGE’s activity is also in line with the developing Polish-Moldovan relations and the Chisinau’s openness to cooperation with the European Union, which creates a good climate for undertaking joint business projects’ says Piotr Listwoń, TGE’s Vice President of the Management Board.
As envisaged in the MoU, TGE will support the Moldovan party by sharing knowledge and experience in organising and conducting trading for commodities of key importance to the economy, such as electricity, natural gas or agri-food products.
‘This Memorandum of Understanding is an opportunity for us to exchange experience, but also a first step towards being active on the Polish energy market in the future’ says Victor Binzari, acting director of Energocom S.A.
At the outset of the cooperation, both partners expect that good practices in the operation of, for example, the exchange-based gas and energy market in Poland or the global standard for handling transactions and their settlement at TGE will be successfully transferred to Moldova, which will certainly contribute to the creation a competitive electricity and gas market in the country.