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Moldova: ANRE Adopts Inside Information Disclosure Rules for Wholesale Energy Markets
Managing Partner Correggio Consulting BV (Brussels) Founder-CEO CorreggioNET │ Managing Director, REMITREP Services BV (Amsterdam) │ Founder ZETA (Zero Emissions Traders Alliance) (Abu Dhabi)
Country: Moldova | Commodity: Power, Gas | Topic: Market Transparency, Compliance
On 18 August, ANRE Moldova approved new Criteria governing the disclosure of inside information by wholesale electricity and natural gas market participants. The rules draw on Electricity Law No. 164/2025, Natural Gas Law No. 108/2016, and EU REMIT principles, effectively introducing Moldova's own version of REMIT-style transparency obligations.
The Criteria primarily target infrastructure availability: planned and unplanned outages and capacity changes for electricity installations of at least 10 MW, electricity lines at 110 kV or above, and gas installations of at least 1,880 m³/h (approximately 20 MW). Inside information must generally be disclosed within one hour via standardized Urgent Market Messages on an ANRE-recognised platform and a dedicated section of the participant's own website. Planned interruptions require a detailed schedule of at least 15 days in advance.
Delayed disclosure is permitted only in narrow circumstances: to protect a legitimate commercial interest, provided the public is not misled, confidentiality is maintained, and no trading on the information takes place in the interim. ANRE must be notified with reasons for any delay.
The Criteria also introduce correction and update obligations, five-year record retention, internal procedures for handling inside information, business-continuity arrangements, and annual staff training. Non-compliance can trigger sanctions under existing electricity and gas legislation.
The Criteria enter into force one month after publication in Moldova's Official Gazette; the exact effective date is not yet confirmed. ANRE still needs to identify the recognised publication platform(s).
Source: ANRE Moldova - Criterii privind publicarea informațiilor privilegiate pe piața angro de energie
For more information on Moldova's new disclosure obligations and their practical implications for market participants, please contact CorreggioNET at info@correggionet.eu.