In 2024, Romania became a net importer of electricity due to a poor performance from its hydropower plants and underwhelming wind energy generation. According to the National Institute of Statistics (INS), electricity exports totaled 10.8 TWh, while imports reached 13.8 TWh, resulting in a commercial deficit of 3 TWh.
From a financial perspective, electricity exports generated just over €1 billion, whereas imports cost the country €1.52 billion. This led to a trade deficit of over €500 million, a significant shift from the modest €47 million surplus recorded in 2023.
Romania typically exports electricity during off-peak hours or when solar generation is high—periods when prices are lower—and imports during peak demand, especially in the evenings when prices are higher. In 2024, the average export price was €93/MWh, while the average import price stood at €110/MWh—an 18% premium. While still notable, this gap narrowed compared to 2023, when imported electricity was 30% more expensive than exported power (€138/MWh vs. €106/MWh).
Here’s a breakdown of Romania’s electricity trade by neighboring country in 2024:
- Hungary: €632 million in imports (6.09 TWh), €236 million in exports (2.76 TWh)
- Bulgaria: €574 million in imports (4.93 TWh), €486 million in exports (5.63 TWh)
- Serbia: €290 million in imports (2.5 TWh), €77 million in exports (0.87 TWh)
- Ukraine: €6 million in imports (79 GWh), €110 million in exports (877 GWh)
- Moldova: €18 million in imports (188 GWh), €99 million in exports (698 GWh)
It’s worth noting that due to the coupling of spot electricity markets, the origin of imported electricity isn’t always tied to the neighboring country’s generation. For example, imports through Hungary may represent transited electricity rather than power produced in Hungary.
The 2024 figures highlight the growing importance of weather-dependent renewables in Romania’s energy mix, as well as the need for better balancing capacity and regional cooperation to stabilize trade and prices.