OREANDA-NEWS. December 22, 2009. The decision on Moldova’s accession to the Energy Community as a full member was taken at the VII meeting of the Council of Energy Ministers of the member-countries of the European Union, which took place at the end of the last week in Zagreb.

As the official Energy Community (EC) report states, Moldova’s accession to the EC will happen after full adaptation of the national legislation to EU standards and completion of the process of ratification of the EC agreement. It is planned that Moldova’s accession to EC will stimulate reforming energy sector that will lead to a mutually beneficial expansion of the energy market on the basis of common rules and strengthen the EU' s energy security.

According to the agreement, before signing the protocol of accession, the EC President together with the vice-president of organization, who represents the European Community, will check Moldova’s completion of the process of adapting national legislation to the provisions of European directives in the gas sector.

According to the Deputy Premier, the Minister of Economy of Moldova Valeriu Lazar, the accession to the Energy Community will mean the radical change in legislation that will lead to the improved system of regulation in energy, high-quality electricity supply, will improve competitiveness at the market, depress prices, as well as attract foreign investment in this area. To harmonize national legislation with the European standards two bills- on electricity and natural gas have been approved by the Parliament in the first reading.

Both documents are fully harmonized with the European Commission directives and were sent for examination of EC, the World Bank and the secretariat of the Energy Community Treaty. The Energy Community Treaty was adopted by the member-countries on October 25, 2005. The objective of the Energy Community is to form a common space for regulation of the energy market in the EU and South-Eastern Europe. Since November 2006, Moldova has an observer status in this organization.