The European Union and the Republic of Moldova today agreed on a two-year comprehensive strategy enhancing energy independence of the country and supporting it to overcome the energy crisis caused after Russia cut off supplies early of January.
“It has a two-fold objective of decoupling Moldova from the insecurities of Russian supply of energy and fully integrating it in the EU energy market,”- said the statement of The EU’s executive branch, the European Commission.
Overall support of EU for Moldova would account to €250 million for 2025, of which €100 million will be provided by mid-April.
In the short term, the overall package will support Moldovan consumers who are facing steep price increases on the Right Bank. It will allow to compensate all excess electricity costs for all households for up to 110 kWh every month until 31 December 2025. It will also compensate for the entire increase of electricity costs for social institutions, including kindergartens, schools and hospitals.
As part of the same strategy, funding of €60 million is also available for the more than 350,000 people in the Transnistrian region of Moldova (the Left Bank) who were left in cold in January after Gazprom discontinued energy supplies. “This support is subject to steps being taken on fundamental freedoms and human rights in the Transnistrian region and excludes energy intensive activities,”- statement said.
Additional funding of €15 million will be provided to support the energy bills of agro-food and manufacturing businesses. Furthermore, through the mobilisation of international financial institutions, additional funding of €50 million will be available for sustainable investments in energy efficiency projects by local public authorities, households and SMEs.
In the longer term, the EU support will allow Moldova to improve its energy security through investments and reforms for the energy transition and ensure the full phase out of Russian supply of energy resources.
Under the first step, the Commission has already provided €30 million EU emergency support announced on 27 January. Thanks to the joint efforts of the European Union and partners, Moldova’s energy system is providing electricity and heat without any blackouts.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for 1 November, covering the latest developments you need to know.
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Premier Li Qiang said on Wednesday that China's economy will exceed 170 trillion yuan ($23.87 trillion) by 2030, presenting a big market opportunity for the world as trade restrictions rise globally.
Jamaican Prime Minister Andrew Holness on Tuesday said that last week's Hurricane Melissa, the strongest-ever storm to hit its shores, caused damage to homes and key infrastructure roughly equivalent to 28% to 32% of last year's gross domestic product.
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