Romanian businesses have significantly reduced their electricity consumption this year, while producers cut output, an adverse reaction that could be related to new taxes introduced since the beginning of this year and to higher prices in the market, Business Review reads.

This year, Romania’s electricity prices hit a record high of over EUR 130/ Mwh in some periods – and these prices have an impact on local businesses.

Local companies reduced consumption of electric energy by 4.4 percent in the first seven months of this year, to 24.94 TWh, while the total national consumption increased slightly by 0.3 percent to 32.56 TWh, according to the National Institute of Statistics (INS).

Public lighting consumption rose by 12.5 percent in the same period and households’ electricity consumption surged by 19.4 percent mainly due to harsher weather during the first months of this year and to higher consumption during the summer months.

In the first seven months of 2019, Romania was a net electricity exporter, after a period og high imports at the beginning of the year.

The official statistics body said that Romania imported 2.13 TWh in January-July and exported 2.37 TWh.

However, electricity export declined by almost a third (-31.9 percent) in the first 7 months of this year while import rose by 45.2 percent.