Energocom faces scrutiny over headquarters rent and fund usage

Moldova's state energy company, Energocom, is facing multiple controversies regarding its financial management and administrative expenses. The company's board has decided to terminate its current lease and relocate its headquarters following public criticism over high rental costs, which reportedly exceeded 500,000 lei per month. Energy Minister Dorin Junghietu defended the company, stating that rent accounts for less than one ban in the price of a cubic meter of gas, though he emphasized the need for transparency.

Simultaneously, Energocom has denied allegations made by politician Vasile Costiuc that the company misused funds from a 400 million euro credit line provided by the European Bank for Reconstruction and Development (BERD). Costiuc claimed funds intended for gas and electricity procurement were instead used to purchase State Securities (VMS). Energocom clarified that while it did purchase VMS, these transactions were made exclusively from its own financial resources and not from the BERD facility, which is subject to strict procurement controls and direct payments to suppliers.

In terms of energy stability, Moldova is adjusting its energy infrastructure project, reducing funding by 3.5 million euros to focus on essential components like the 400 kV Vulcănești–Chișinău line. Meanwhile, authorities have not ruled out potential electricity tariff increases, as the National Agency for Energy Regulation (ANRE) awaits September's average purchase price data to determine if adjustments are necessary.