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Romania’s Energy Watchdog To Decide End-Mar On New Gas Price Hikes

Romania’s energy watchdog will decide whether to hike end-user natural gas prices by the end of March, following unofficial requests from gas distributors Distrigaz Sud and E.ON Gaz Romania.
Romania’s Energy Watchdog To Decide End-Mar On New Gas Price Hikes
05 mart. 2008, 19:11, English

“We have not received official information on new natural gas price increases. We’re still analyzing the situation. A final decision whether to increase the price of natural gas as of April 1 has not yet been made,” said Gabriel Sarbu, a watchdog director.

Earlier Wednesday, Distrigaz Sud, a gas distributor majority owned by French Gas de France, said imported natural gas prices should grow 8% to 12% in the second quarter of 2008 to $420 per 1,000 cubic meters from the current $370, on higher international gas and oil prices.

Also Wednesday, another gas distributor, E.ON Gaz Romania, said Romanian gas household bills should increase by 10% starting with April 1.

The country’s two largest gas producers Petrom (SNP.RO) and Romgaz Medias, which cover 60-65% of the annual gas consumption needs, have not asked for increases in domestic gas prices. Romanian consumers currently pay 495 lei (EUR1=RON3.7197) per 1,000 cubic meter of domestic gas.

Gas consumption in Romania currently stands at 17-18 billion cubic meters.