Opcom

What Opcom does

OPCOM (S.C. OPCOM S.A., legally "Operatorul Pieței de Energie Electrică și de Gaze Naturale S.A.") is Romania's designated Nominated Electricity Market Operator (NEMO), established on 15 August 2000 under Government Decision 627/2000 as a wholly-owned subsidiary of CNTEE Transelectrica S.A., the Romanian national electricity transmission system operator. The company administers Romania's wholesale electricity and natural gas markets under the supervision of ANRE (Romania's national energy regulatory authority), operating a multi-product platform spanning day-ahead (PZU), intraday (PI) with continuous trading (IDCT via XBID) and Intra-Day Auctions (IDA), centralized bilateral contract markets (PC-OTC, PCCB-LE-flex, PCCB-NC), green certificates markets (PCSCV, PCTCV) and the Green Certificates Registry, natural gas markets (PZU-GN, PI-GN, PCGN-LN/LP/OTC, PPFTL), and policy mechanisms including the Centralized Electricity Acquisition Mechanism (MACEE) and Contracts for Difference (CfD).

The core technology is the M7 Trading System (ComTrader), a proprietary platform supporting web and API access, integrated with European market coupling infrastructure — SDAC via Price Coupling of Regions for day-ahead, and SIDC via XBID and IDA for cross-border intraday trading across 20+ countries. OPCOM also provides settlement, clearing, market surveillance (concentration indices, weekly/monthly/annual reports) and REMIT transaction reporting to ACER, and publishes ROPEX benchmark price indices (DAM, FM, GC, ID).

Revenue derives from regulated transaction fees, access tariffs, and API service charges approved under ANRE Order 15/2022, governed by published tariff procedures. Participants — electricity producers and suppliers, traders, aggregators, large industrial consumers, and natural gas market counterparties — must register through formalized agreements (Conventia de participare) and comply with ANRE-endorsed market rules. The company is listed on the Bucharest Stock Exchange under the ticker OPCOM, with ownership concentrated in Transelectrica and, ultimately, the Romanian state. OPCOM serves a domestic B2B participant base but is deeply embedded in the European internal energy market through pan-European coupling mechanisms.

Name

Opcom

Legal name

S.C. OPCOM S.A.

Website

https://opcom.ro

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

51–100 employees

Short description

OPCOM is Romania's designated electricity and natural gas wholesale market operator (NEMO), administering day-ahead, intraday, bilateral, green-certificates and gas markets on its M7 Trading platform for licensed producers, suppliers, traders, and large consumers under ANRE regulation.

Ownership category

akta.pro rank

Product category

Electricity and Natural Gas Exchange Services

NAICS

Securities and Commodity Exchanges (523210), Commodity Contracts Intermediation (52316)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Regulatory Compliance & Market Surveillance (ISO/RTO Rules, Reporting) (EUAGALAK)

Keywords

• Electricity market operator
• Natural gas trading
• Day-ahead market
• Green certificates registry
• Cross-border market coupling

Headquarters

HQ city

Bucharest

HQ country

Romania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Others

Revenue model

1. Trading Transaction Fees: OPCOM charges participants fees for access to and use of its trading platforms (PZU, PI, PCCB, PC-OTC, PCV, PCGN, etc.). Fees are regulated by ANRE Order 15/2022 and published in tariff procedures. Fees include access tariffs, transaction fees, and API access service charges.
2. Market Operator Services: OPCOM operates as the designated market operator (NEMO) under Romanian and EU energy law, providing settlement, clearing, and market administration services. Revenue is derived from regulated tariffs approved by ANRE for market operator services.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

OPCOM (S.C. OPCOM S.A.) is Romania's designated electricity and natural gas market operator (NEMO), operating the M7 Trading System platform for the wholesale electricity and natural gas markets. The company administers 15+ distinct market segments including Day-Ahead Market (PZU), Intraday Market (PI with continuous and auction trading), bilateral contract markets, green certificates markets, natural gas markets, Contracts for Difference (CfD), and the Centralized Electricity Acquisition Mechanism (MACEE), providing price discovery, trade execution, settlement, clearing, and REMIT market surveillance reporting for licensed energy participants.

Product overview

OPCOM (Operatorul Pieței de Energie Electrică și de Gaze Naturale S.A.) is Romania's designated electricity and natural gas market operator, established in 2000 as a subsidiary of Transelectrica. The company operates a comprehensive multi-product trading platform comprising: (1) Electricity Markets including Day-Ahead Market (PZU), Intraday Market (PI) with continuous and auction trading, and various bilateral contract markets (PC-OTC, PCCB-LE-Flex, PCCB-NC); (2) Renewable Energy Markets including the renewable-supported market (PCE-ESRE-CV) and Green Certificates Market (PCSCV/PCTCV); (3) Natural Gas Markets covering day-ahead (PZU-GN), intraday (PI-GN), and centralized markets (PCGN with LN, LP, and OTC modalities); (4) Support Mechanisms including Contracts for Difference (CfD) and Centralized Electricity Acquisition Mechanism (MACEE). OPCOM also provides settlement services, market surveillance, and REMIT reporting. The platform connects to European market coupling mechanisms including SDAC and SIDC/XBID for cross-border electricity trading.

Differentiator

Problem solved

Functional benefit

Brands

• PZU: Piata pentru Ziua Urmatoare (Day-Ahead Market) - Registered trademark for OPCOM's day-ahead electricity market
• PI
• PCCB
• PCCB-NC
• PCCV
• PCGN
• PZU-GN
• PI-GN

Products and services

• Day-Ahead Market (PZU/DAM) Day-ahead electricity market where hourly and 15-minute products are traded for next-day delivery. Prices are determined through the European market coupling mechanism (SDAC via Price Coupling of Regions). Used by electricity producers, suppliers, and traders active in Romania.
• Intraday Market (PI/IDM) Intraday electricity market enabling continuous trading (IDCT via XBID) and Intra-Day Auctions (IDA). Allows market participants to adjust positions closer to delivery time. Connected to European Single Intraday Coupling across 20+ countries.
• Centralized Market with Double Continuous Negotiation for Electricity Bilateral Contracts (PC-OTC) Bilateral contract market with continuous double negotiation mechanism for electricity. Provides transparent price discovery and trade execution for forward contracts.
• Centralized Bilateral Contracts Market - Extended Auctions (PCCB-LE-Flex) Flexible auction-based mechanism for bilateral electricity contracts with extended features. Supports long-term supply agreements with standardized products.
• Centralized Bilateral Contracts Market - Continuous Negotiation (PCCB-NC) Bilateral contract market with continuous negotiation capability. Enables ongoing trade of electricity contracts throughout trading sessions.
• Centralized Market for Renewable Energy with Green Certificates (PCE-ESRE-CV) Specialized market for electricity from renewable sources supported by green certificate trading mechanism. Promotes renewable energy investment.
• Centralized Market for Universal Service (PCSU) Auction-based market ensuring universal service obligation for electricity supply to protected consumers.
• Large Consumers Market (PMC/LCM) Electricity market specifically for large final consumers, enabling direct procurement of energy supplies through auction-based trading.
• Centralized Market for Long-Term Electricity Contracts (PCTL/CMLT) Market mechanism for awarding long-term electricity supply contracts, supporting secure energy procurement for extended periods.
• Day-Ahead Market for Natural Gas (PZU-GN/DAM-NG) Day-ahead market for natural gas trading with auction-based price discovery for next-day gas delivery.
• Intraday Market for Natural Gas (PI-GN/IDM-NG) Intraday market for natural gas enabling flexible trading and position adjustments closer to gas delivery time.
• Centralized Natural Gas Market - Long-Term Products (PCGN-LN) Centralized gas market with long-term product trading including standardized contracts for extended delivery periods.
• Centralized Natural Gas Market - Flexible Products (PCGN-LP) Centralized gas market offering flexible products for medium and long-term supply arrangements.
• Centralized Natural Gas Market - OTC (PCGN-OTC) Over-the-counter trading mechanism for natural gas with centralized market infrastructure and transparency.
• Flexible Medium and Long-Term Natural Gas Products Market (PPFTL) Market for flexible natural gas products with medium and long-term delivery profiles.
• Green Certificates Spot Market (PCSCV/GCACSM) Centralized anonymous spot market for trading green certificates supporting renewable energy certification.
• Green Certificates Term Market (PCTCV/GCACTM) Centralized anonymous forward market for green certificates with standardized term products.
• Green Certificates Registry Official registry system for tracking and managing green certificates issued to renewable energy producers.
• Centralized Electricity Acquisition Mechanism (MACEE/CEAM) Centralized electricity procurement mechanism for ensuring secure energy supply, operating under OUG nr. 32/2024.
• Contracts for Difference (CfD) Support mechanism for low-carbon electricity generation providing stable revenue through difference payments, with a dedicated CfD registry for long-term electricity contracts awarded through centralized mechanisms.
• Market Surveillance and REMIT Reporting Market oversight services including weekly, monthly, and annual reports, concentration indices (HHI, C3), and REMIT transaction reporting per EU Regulation 1227/2011.
• Settlement Services Post-trade clearing and settlement services for all OPCOM markets including payment processing and financial guarantee management.
• M7 Trading System API Access API access to the M7 Trading System for the Intraday Electricity Market (PI), allowing market participants to automate trading activities. Tariff procedure is published monthly; participants must complete testing and sign an API Usage Agreement.

Quantifiable outcome

• Day-Ahead Market trading volume of 40,920 MWh on a single delivery day (2 July 2026)
• +2 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature8 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• European NEMO Committee / NEMO NetworkcoreTechnology or Integration · 1 January 2019OPCOM serves as a Designated NEMO (Nominated Electricity Market Operator) for Romania, operating within the European NEMO Committee structure. The NEMO network coordinates Single Day-Ahead Coupling (SDAC) and Single Intraday Coupling (SIDC) across Europe, enabling cross-border market coupling between Romanian and other European market participants.
• European Transmission System Operators (TSOs) for SIDC/IDAcoreTechnology or Integration · 1 January 2019OPCOM partners with transmission system operators across Europe for the Single Intraday Coupling (SIDC) mechanism, including RO-HU (MAVIR/MAVIR ZRt.) and RO-BG (NEK/Electrocentrale Belper) border TSOs. The IDA (Intraday Auctions) mechanism is coordinated with TSOs for cross-border capacity allocation and market coupling.
• CNTEE Transelectrica S.A.coreStrategic or Co-development Partner · 1 January 2000CNTEE Transelectrica S.A. (Romanian National Electricity Transmission Company) is the sole shareholder of OPCOM S.A. OPCOM was established as a wholly-owned subsidiary of Transelectrica in 2000 under Government Decision 627/2000. Transelectrica operates Romania's electricity transmission system and is the national transmission system operator, making this a fundamental parent-subsidiary relationship with deep operational interdependency.
• EUROPEX (Association of European Energy Exchanges)coreStrategic or Co-development PartnerOPCOM is a member of EUROPEX, the Association of European Energy Exchanges. Through this membership, OPCOM participates in European energy exchange policy development, best practice sharing, and collaborative initiatives with other European exchanges including APX, EEX, EPEX Spot, Nord Pool, HUPX, and others.
• ENTSO-E (European Network of Transmission System Operators for Electricity)coreStrategic or Co-development PartnerOPCOM collaborates with ENTSO-E in the implementation of European market coupling mechanisms. ENTSO-E coordinates the operation of Europe's electricity transmission grids, and OPCOM's markets integrate with ENTSO-E's infrastructure for cross-border capacity allocation, ATC publication, and system coordination.
• ANRE (Autoritatea Națională de Reglementare în Domeniul Energiei)coreStrategic or Co-development PartnerANRE is Romania's national energy regulatory authority. OPCOM operates under regulatory designation from ANRE and all market rules, procedures, and tariffs are approved by ANRE. ANRE Order 15/2022 governs OPCOM's tariff framework, and ANRE issues orders and decisions that govern all of OPCOM's market operations.
• ACER (Agency for the Cooperation of Energy Regulators)minorOthersACER is the EU Agency for the Cooperation of Energy Regulators. OPCOM participates in ACER's market monitoring activities and REMIT reporting framework, submitting transaction data to ACER's centralized systems for market surveillance purposes across the EU.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Nord Pool: European power exchange operating day-ahead and intraday markets across the Nordics, Baltics, and parts of Western/Central Europe. A leading NEMO with substantially larger scale; comparable in business model (spot/IDM operator coupled into European markets) but broader in geographic reach.
• EPEX Spot: Pan-European spot power exchange covering major Western and Central European markets. Although Romania is not directly cleared on EPEX, OPCOM cooperates with EPEX through SDAC coupling and operates a structurally similar spot/IDM business model at smaller scale.
• EEX (European Energy Exchange): Leipzig-based energy exchange group operating European electricity spot, derivatives, natural gas, and environmental markets. Comparable to OPCOM in electricity/gas exchange operations and EU market participation, but with a much broader product portfolio and global investor footprint.

Direct peers

• OTE (Czech electricity and gas market operator): National market operator for Czech electricity and natural gas, operating day-ahead, intraday, and bilateral markets under EU regulation. Directly comparable to OPCOM in mandate, product scope (electricity and gas), and statutory designation.
• HEnEX (Hellenic Energy Exchange): Greek energy exchange operating day-ahead and intraday electricity markets integrated into European market coupling. Comparable as a designated national NEMO with similar EU-aligned product structure and Mediterranean/South-East European regional context.
• TGE (Polish Power Exchange / Towarowa Giełda Energii): Polish commodity exchange operating electricity (Day-Ahead, Intraday, bilateral contracts), natural gas, and property rights markets under comparable EU framework. Operates in a larger Central European market with similar designated-operator mandate.
• HUPX (Hungarian Power Exchange): Designated NEMO for Hungary's electricity market, offering DAM, intraday, and similar bilateral contract structures integrated into SDAC/SIDC. Closely comparable to OPCOM in country scale, product mix, and EU coupling participation (Romania's RO-HU border is a direct coupling neighbor).
• BSP Energy Exchange (SouthPool): Slovenian energy exchange (BSP/SouthPool) operating day-ahead, intraday, and bilateral electricity markets with integrated EU market coupling. Closely comparable in scale and product scope to OPCOM's Romanian offer.
• IBEX (Independent Bulgarian Energy Exchange): Designated electricity market operator for Bulgaria, with DAM and intraday participation in SDAC and SIDC. Highly comparable to OPCOM in product offering, EU coupling status, and regional context (RO-BG border integration).

Emerging players

• SEEPEX (Serbian Electricity Exchange): Spot electricity exchange for Serbia with day-ahead and intraday trading. Comparable as a regional Central/Eastern European electricity market venue, with a narrower product set and earlier-stage liquidity profile than OPCOM.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/opcom.ro
• LinkedInlinkedin.com/company/sc-opcom-sa

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Opcom