BUSINESS

Government adopts new gas price liberalisation calendar

The Government has adopted a Decision approving the new natural gas price liberalisation calendar. It refers to the locally produced gas sold to households and heat producing companies serving the population. According to the new calendar, after 1 July 2015, the price of locally produced natural gas paid by the population and producers of heat – only for quantities used by co-generation plants and plants producing head for the population – will be RON 60/MWh compared to the previous price of 53.3/MWh. The calendar includes annual mark-ups until 2017: from 1 July 2016, the gas price will be RON 66/MWh, and after 1 April 2017 – RON 72/MWh.

The liberalisation calendar for natural gas produced in Romania covers the period from 1 July 2015 to 30 June 2021. It is the result of negotiations with the International Monetary Fund, European Union and World Bank. The initial term the foreign partners wanted has been extended from three years (2015 – 2018) to six years (2015 – 2021) and the pace of price rise was evenly distributed across the entire period, steeper rises in the first part of the interval being rejected. At the same time, Romania insisted during the negotiations that the alignment of the local gas price to happen annually rather than on a quarterly or 6-month basis.

 

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