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The Palace of Parliament, largest administrative building in the world, will buy electricity through ECSIF client - the Romanian Commodities Exchange

During the Romania's Presidency of the Council of the European Union – 2019, the Palace of Parliament - the largest administrative building in the world, will buy electricity through ECSIF client- the Romanian Commodities Exchange!

The Palace of the Parliament is the seat of the Parliament of Romania and it is the largest administrative building in the world, if excluding the Pentagon with a height of 84 metres (276 ft), an area of 365,000 square metres (3,930,000 sq ft) and a volume of 2,550,000 cubic metres (90,000,000 cu ft). In terms of weight, the Palace of the Parliament is the heaviest building in the world, weighing in at around 4,098,500,000 kilograms (9.0356×109 lb). Parliament's Palace consumes an average of 1,150 MWh per month.

The Chamber of Deputies and other public institutions located in the Palace of Parliament will buy electricity from the Romanian Commodities Exchange, starting with June 2018. The Chamber of Deputies and the other public institutions based in the Palace of the Parliament will purchase electricity from the Romanian Commodities Exchange, at a price of 178.77 lei per MWh, starting in June, the annual economy being over one million lei, where the entire building consumes an average of 1,150 MWh per month. 

"The Chamber of Deputies will purchase electricity from the Romanian Commodities Exchange, at a price of 178.77 lei per MWh, price excluding taxes and excise duties, according to the legislation in force, starting in June," the institution announced on its website.

The price obtained is about 30% lower than the estimated price quotations for electricity according to the RCE database (December 2017 - March 2018), the institution announced. The contract will last for 1 year, and the very low price for 1 MWh will be paid by all 9 public institutions that are based in the Parliament Palace.

"Following the auction in which the Chamber of Deputies participated in association with other public institutions, the cost of energy consumption for the contracted period will decrease significantly, thus, an economy will be achieved annually for the purchase of electricity exceeding 1,000,000 lei, an economy that will benefit all the public institutions residing in the building (the Senate, the RAC, the Legislative Council, the SELEC Center within the Ministry of Internal Affairs, etc.)" the Chamber of Deputies states.

These savings will also be reflected in the utility budget allocated to the meetings that will take place in the Palace of Parliament during the EU Council Presidency in 2019.

 

Starting with 2017, ECSIF through its Co-founder Dr. Daniel Ioan Dumitrescu, asured the executive management of its client the Romanian Commodities Exchange.

 

 

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