Moldova’s gas market is becoming more competitive, but import prices in the region are rising by 28%

A new report by the Energy Community Regulatory Board shows that Moldova’s largest gas supplier reduced its share of the wholesale market from 88% to 55% in 2025, while a second supplier reached 34%. In Moldova, Ukraine, and North Macedonia, the weighted average import price rose by 28% compared with 2024, amid markets that remain dependent on a limited number of suppliers and transport routes.

Moldova’s wholesale natural gas market became less concentrated in 2025 after the largest supplier’s share fell from 88% to 55%, while a second operator came to control 34% of sales. The development is presented in a report published on October 15, 2026, by the Energy Community Regulatory Board (ECRB), which also notes the rise in imported gas prices in the region and the persistence of obstacles to integrating markets with the European Union.

In brief

1. In Moldova, the largest supplier’s share of the wholesale market fell from 88% in 2024 to 55% in 2025, while the second supplier reached 34%.

2. The weighted average price of imported gas in Moldova, Ukraine, and North Macedonia was €43.16/MWh in 2025, 28% above the previous year’s level.

3. Moldova’s gas consumption increased by 5.7% in 2025, according to data collected by the national regulatory authorities.

4. Moldova continued to use mainly the Ungheni interconnection point for cross-border gas transportation.

5. The ECRB calls for the full application of common rules on pipeline access, capacity allocation, and network balancing to reduce supply risks and pressure on prices.

The change in the structure of Moldova’s wholesale market is one of the developments highlighted in the report Gas Wholesale Markets in the Energy Community, which analyzes data for 2025. In 2024, a single company controlled 88% of the market. The following year, the two companies with the largest shares accounted for 55% and 34%, respectively, of gas sales. The emergence of a second supplier with a significant presence reduces commercial dependence on a single participant; however, the data show that the market remains concentrated: the two companies together account for 89% of the total.

The report should not be interpreted as evidence that households or businesses in Moldova have already benefited from price reductions. The data concern the wholesale market, where gas is traded between suppliers, producers, and other participants before reaching final consumers. Household tariffs also depend on transmission and distribution costs, supply contracts, regulatory authorities’ decisions, and any public support measures. Greater competition in the wholesale market may create favorable conditions for more competitive offers, but the effect on bills is not automatic.

Alongside the change in market structure, import costs remained high. The ECRB states that the weighted average gas import price for Moldova, Ukraine, and North Macedonia—the three Contracting Parties for which comparable data were available—reached €43.16 per megawatt-hour in 2025. This was 28% higher than the average of €33.67/MWh recorded in 2024 and exceeded the average of €36/MWh reported for the European Union in 2025. The indicator represents the combined average of the three markets analyzed and cannot be attributed to Moldova individually.

The report finds that import prices rose toward the end of 2024 and remained relatively stable at that level for most of 2025, with limited fluctuations during the summer. The stability observed during the year therefore does not mean a return to the lower costs of the earlier period. In North Macedonia, the highest monthly import price recorded by the report was €53/MWh in February 2025. Average annual wholesale gas selling prices also increased in Moldova, Ukraine, and North Macedonia compared with 2024, without these developments being directly equivalent to household tariffs.

Natural gas consumption developed differently among the countries analyzed. In Moldova, demand increased by 5.7% in 2025, one of the largest percentage increases in the report, after Türkiye, where growth was 8.2%. Serbia recorded an increase of 5.1%, while North Macedonia and Ukraine reported declines in consumption. The data describe changes in demand without, on their own, establishing the causes of the increase in Moldova or its impact on the costs borne by consumers.

Access to alternative sources and routes remains essential for security of supply. Moldova depends on imports to cover its gas consumption, and the report shows that the Ungheni interconnection point continued to be used by most participants transporting gas across the border. This orientation reflects the change in the main supply routes that took place in 2023, during a period when Moldova changed its trade relations and the infrastructure used for gas imports.

Physical connection to neighboring networks does not, by itself, guarantee the operation of a fully integrated market. For suppliers to use interconnections efficiently, compatible rules must exist for reserving pipeline capacity, managing imbalances between the quantities injected into and withdrawn from the system, and setting transmission tariffs. In the absence of common mechanisms, participants may be required to reserve capacity separately on the two sides of a border, which complicates transactions and may increase administrative or commercial costs.

The ECRB finds that Moldova, Ukraine, and Serbia have made progress in aligning national rules with European network codes on capacity and tariffs. However, difficulties persist in jointly reserving cross-border capacity, and none of the Contracting Parties analyzed fully applies the European rules for daily gas system balancing. These rules are designed to enable operators and market participants to maintain the balance between the quantities of gas delivered into the network and those consumed, under transparent and non-discriminatory conditions.

Integration obligations also apply to operators and authorities in European Union member states. Regulation (EU) 2024/1789 provides for the application of the relevant network codes at interconnection points with third countries from August 5, 2026, subject to derogations granted under the legislation. According to the Energy Community, Hungary, Bulgaria, and Slovakia have requested derogations. The ECRB emphasizes that compatible application of the rules on both sides of the borders is necessary for commercial integration to function effectively.

The report also draws attention to transmission tariffs. Changes in the routes and volumes of gas transported may redistribute infrastructure operating costs among the remaining users. If the volumes transported through a network decline, recovering fixed costs may put pressure on tariffs if the regulatory methodology does not take these developments into account. The ECRB recommends that authorities establish tariff structures that preserve the viability of networks while also enabling gas to be accessed at reasonable prices.

This issue also becomes relevant in view of the reduction in fossil gas consumption and the development of renewable gases. Investments in networks and decisions regarding the use of existing infrastructure must be aligned with anticipated changes in demand so that security of supply is maintained without transferring excessive costs to market participants.

Moldova’s situation forms part of a regional picture in which changes in suppliers have begun to reduce some commercial concentrations, but structural dependencies remain significant. In Serbia, a single supplier accounted for more than 99% of the wholesale market in 2025. In North Macedonia, the two largest market shares were 71% and 20%, while in Ukraine they were 38% and 35%. These differences show that the formal opening of markets and the existence of multiple operators do not automatically lead to comparable competition across countries.

The report, published on the basis of data provided by national regulatory authorities, describes 2025, while the Energy Community’s warning regarding new price increases refers to developments in 2026. The ECRB recommends diversifying supply sources and routes, fully implementing network codes, and developing cross-border transactions. The next results will depend on the effective application of the rules, investment in infrastructure, and the ability of new suppliers to establish a lasting presence in regional markets.

https://2eu.brussels/ro/news/piata-gazelor-din-moldova-devine-mai-competitiva-dar-preturile-importurilor-cresc-in-regiune-cu-28