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Gas Bills Should Rise 10% In 1Q – Distrigaz Sud

Natural gas prices for end-users should rise 10% in the first quarter of 2008, if the methodology set up by Romanian energy watchdog ANRE, comes into force, gas distributor Distrigaz Sud, majority-owned by French utility Gaz de France, said Tuesday.
Gas Bills Should Rise 10% In 1Q – Distrigaz Sud
22 ian. 2008, 14:12, English

ANRE has not published the new tariffs yet but it might announce them on February 1.

Following the delay in publishing the new gas prices, Distrigaz Sud said it reports daily losses of 1.5 million (EUR1=RON3.7202).

The company’s representatives said the publishing of the tariffs would trigger higher gas bills by more than 6% but below 10%.

Unless authorities agree with Distrigaz Sud proposal to hike gas prices, the company might consider a court action, the company’s representatives said.

Romanian Economy and Finance Minister Varujan Vosganian said mid January that Romania will raise natural gas prices only slightly in 2008 to avoid a major affect on inflation.

The Romanian energy watchdog said last year the prices for electric power and natural gas will be kept unchanged in January 2008, but said gas prices should have been increased significantly. It said a decision will be made in January.

Romania’s consumer price inflation exceeded the central bank’s target band of 3%-5% in 2007, accelerating to 6.57% at the end of December, due to significant growth in food and services prices.