Legislative news in September 2013

LEGISLATIVE NEWS IN SEPTEMBER 2013

During September 2013, a number of important legal regulations were published in the Official Gazette of Romania, Part I, such as:

I. Ordinance no. 28/2013 regarding the regulation of fiscal-budgetary measures

The act came into force on September 2nd 2013.

Art. V. By exception from the provisions of art. 160. paragraph (2) letter e) point 2 from Law no. 571/2013 regarding the Fiscal Code, as subsequently amended and republished, for the acquirements of electricity made starting with the date this ordinance came into force until the end of 2013, the buyer must convey a statement to the seller, which shall be valid until December 31st 2013, from which it shall result that his main activity, regarding the acquirements of electricity, is represented by its resale and that its own consumption of the electricity bought is negligible, respectively that it is 1% at most from the electricity bought during January – July 2013.

II. Government emergency Ordinance no. 88 from September 18th 2013, regarding taking certain fiscal-budgetary measures in order to accomplish certain commitments convened with international entities, as well as regarding the changes and additions of certain legislative acts.

The act came into force on September 20th 2013.

The national system for the verification, monitorization, report and control of financial situations, legal commitments and the budgets of public institutions represents the ensemble of information applications and rules, as defined through the functioning procedure of the national report system, which ensures the process of verifying, monitoring, reporting and controlling the financial situations, legal commitments, the budgets of public institutions and the preparation of centralized and/or reinforced reports or other situations established through the procedure for the system’s functioning.

The system is administered by the Ministry of Public Finance and its implementation and the testing of its functioning procedure with public institutions shall be accomplished by December 31st 2014.

III. Order no. 67 from September 4th 2013, for the approval of the Methodology of establishing the rate practiced by the operator of the electricity market

The act came into force on September 12th 2013.

The methodology determines the way in which to establish the regulated income of the operator of the electricity market, as well as the formula for calculating the practiced rate for the services provided by the operator to the participants to the centralized markets for electricity and green certificates.

The methodology is based on the following objectives

  1. promoting certain efficient operating practices;
  2. the efficient use of resources;
  3. the improvement of the quality of the provided services;
  4. the financial viability and growth of the operator.

The method through which the regulated rate for the services provided by the operator to the participants to centralized markets for electricity and green certificates is “cost+”, with the regulated income representing the sum of the total justified costs and a reasonable profit share, calculated as a procentage of these costs.