Romania — physical cross-border flows, 2026

Month by month

All borders together, with consumption for scale.

Month	Consumption, MWh	Physical exports			Physical imports			Zone price, €/MWh	Difference €	Import ÷ consumption
Month	Consumption, MWh	MWh	€/MWh	€	MWh	€/MWh	€	Zone price, €/MWh	Difference €	Import ÷ consumption
January	5,315,303	718,386	144.15	103,555,147	1,112,820	171.70	191,069,844	150.49	−87,514,697	20.9%
February	4,733,001	845,248	96.65	81,693,795	948,238	109.36	103,702,708	99.81	−22,008,913	20.0%
March	4,482,029	880,026	95.40	83,953,125	604,508	129.15	78,069,520	105.07	5,883,605	13.5%
April	3,879,532	742,398	80.94	60,088,505	694,452	116.28	80,750,750	95.59	−20,662,245	17.9%
May	3,765,621	661,418	95.73	63,317,307	926,385	130.27	120,681,654	109.52	−57,364,347	24.6%
June	3,841,808	650,543	107.76	70,103,361	1,029,512	156.97	161,607,443	122.88	−91,504,082	26.8%
July	4,128,035	672,513	104.60	70,342,085	944,302	145.45	137,352,693	120.21	−67,010,608	22.9%
August	4,037,600	684,906	128.43	87,962,979	966,897	175.16	169,364,477	151.10	−81,401,497	23.9%
September25.6% of hours	1,186,322	108,497	125.15	13,578,720	246,283	189.99	46,791,396	171.27	−33,212,676	20.8%
Total	35,369,251	5,963,936	106.41	634,595,024	7,473,397	145.77	1,089,390,483	121.80	−454,795,460	21.1%

Consumption is measured separately, as the hourly average power summed over the month — not by adding up readings, since sources publish at different rates. The last column puts imports next to it for scale; it is not a dependency figure, because part of what enters passes straight through to another neighbour.

Where the difference comes from

454,795,460 € for 1,509,462 MWh that stayed in the country works out at 301.30 € per megawatt-hour, in a month that averaged 121.80.

Energy that stayed, at the month's average price 183,855,711 40.4%
What came in arrived above that average 179,114,428 39.4%
What went out left below it 91,825,320 20.2%

The first line is energy the country needed and got. The other two — 270,939,748 € together — come not from how much moved but from when: cheap hours to sell in, expensive hours to buy in. That is the price of a timing mismatch, not a loss.

Official validation

The measured physical flow, checked against ANRE's published commercial trade.

Month	Physical net, MWh	Commercial net, MWh	Difference, MWh	Status
January	+394,434	+387,120	+7,314 · 1.89%	EXCELLENT MATCH
February	+102,990	+84,020	+18,970	NET TOO SMALL FOR A PERCENTAGE
March	−275,518	−286,040	+10,522 · 3.68%	GOOD MATCH
April	−47,946	−46,440	−1,506	NET TOO SMALL FOR A PERCENTAGE
May	+264,968	+268,120	−3,152 · 1.18%	EXCELLENT MATCH
June	—	—	—	AWAITING OFFICIAL ANRE DATA
July	—	—	—	AWAITING OFFICIAL ANRE DATA
August	—	—	—	AWAITING OFFICIAL ANRE DATA
September	—	—	—	AWAITING OFFICIAL ANRE DATA

Gross volumes differ by design: the official indicators include transits, and a transit is counted once entering and once leaving, while a physical border sees it only once. Net figures converge, because transits cancel out — which is why the comparison is made on the net.

ANRE publishes these exchanges as a physical balance in GWh. It publishes no import or export value and no average price per direction, so no money comparison is possible.

Physical cross-border flows and commercial electricity trades measure different phenomena. ANRE data is shown as an independent official benchmark and should not be interpreted as an exact reconciliation.