Romania cuts heat VAT to 11%, gigacalorie price down ~8% from Nov 1

Romania will reduce VAT on heat from 21% to 11% for the cold season starting November 1, 2026, through March 31, 2027, lowering the final gigacalorie price by about 8%. The measure is nationwide and aims to ease heating costs for households. It is a temporary fiscal intervention, and its impact on energy sector margins and budget revenues is uncertain.

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