FSUOGM: Moldova to slap fine on gas grid operator for failing to spin off from parent firm

Moldova’s national energy regulator plans to slap a fine on gas grid operator Moldovatransgaz for failing to follow through on its commitment to spin off from parent company Moldovagaz, which is half-owned by Russia’s Gazprom.

In a statement on August 10, the energy regulator said Moldovatransgaz was violating the EU’s directives on the unbundling of energy supply and transmission operations under the bloc’s Third Energy Package. Authorities in Moldova have committed to aligning their energy market with Brussels’ regulation, even though the country is not an EU member. That would mean spinning off Moldovagaz into three entirely separate companies managing gas supply, transport and distribution respectively. 

“The agency is to apply sanctions in the amount of at least 10% of the annual turnover of licence holders for the operator’s failure to fulfil obligations related to ensuring its independence from the vertically integrated enterprise [Moldovagaz],” the regulator said.

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