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E.ON Gaz Romania Might Cut Imports On Reined In Gas Prices

E.ON Gaz Romania, the local unit of Germany’s utility E.ON, might ask natural gas importers to cut gas prices or gas imports, should Romania’s energy watchdog ANRE refuse the 19% hike in natural gas prices as of July 1, the president of the company’s administration council Achim Saul said Tuesday.
E.ON Gaz Romania Might Cut Imports On Reined In Gas Prices
08 apr. 2008, 12:14, English

Saul said these measures would be enforced subject to contract terms with gas importers.

Romania must increase natural gas prices by 19% in the third quarter of 2008 to prevent further hikes by the end of the year, E.ON Gaz Romania said Tuesday.

E.ON Gaz Romania said it would register 45 million Romanian lei (EUR1=RON3.6949) losses in the first half of this year, as the Romanian energy watchdog didn’t approve a 12% gas price increase for the second quarter of the year.

In its most recent adjustment, the Romanian energy watchdog increased household gas prices by 8.5% Feb. 1, on higher international prices. However, E.ON said the increase failed to cover its gas import costs.