Author's Name:	Mihaela IONESCU SAS
Subject Area:	Science and Engineering
Subject	Energy
Section	Research Paper

Transactions, spot market, physical delivery, liquidity risk, short-term contract

In this article the author wishes to make known power exchange particularities in Romania in the context of the accession to European Union and the single European energy market formation. To understand the issues it wishes to them present the author will call the general features of European energy exchange and its mechanisms. Will be made known featurescountries and a detailed analysis will be undertaken on the Romanian stock market of electricity. Energy exchanges are organized markets for trading electricity. They provide public information on transactions electricity wholesale and retail markets. In Romania power exchange is administered by OPCOM, institution empowered by the European Commission to conduct this activity. Anonymous participants will know only when the transaction counterparty. Transaction elements are known to all participants respecting such principles of transparency and non-discrimination. The energy market liberalization in Romania ends with the formation of national energy exchange that will be the consequence of increasing energy prices in the EU with negative consequences for Romanian consumers.