ECONOMY ENERGY

Chief energy regulator officer Havrilet: Residential natural gas prices to increase by 5-6pct from April 1

Residential natural gas prices will increase by 5-6 percent from April 1, and residential consumers will be protected against any sudden price surges that might occur on the free market, Chairman of the National Energy Regulatory Authority (ANRE) Niculae Havrilet told an energy conference on Thursday.

“Under emergency ordinance GEO 64 of 2016, currently being debated on in Parliament that we expect will pass, full liberalisation of Romania’s natural gas market is started, more precisely the residential market. As from April 1, there will no longer be a regulated price for the gas output and regulated will be only the other components of the final price – grid fees, supply fees and components of the natural monopoly dues,” said Havrilet.

He added that the new measure will likely trigger rises of between 5 and 6 percent in the residential natural gas prices.

“Our prediction, which takes into account the developments in the world prices that are at the same level or very close to the prices for domestic natural gas, we are expecting an increase by about 5-6 percent per thousand cubic metres,” said Havrilet.

He added that residential users are protected against major price surges on the free market thanks to the mythology designed by the ANRE for the acquisition of natural gas for residential users.

“ANRE has devised a methodology under which natural gas acquisitions for residential users is done for one year for the October-April timeframe. That means the suppliers operating on this market will buy the natural gas at the current prices for one year. That also means residential users are protected against sudden price increases,” added Havrilet.

Related posts

Prime Ministers Dancila, Netanyahu evoke the traditional friendship and the excellent level of Romanian-Israeli bilateral relations. The two officials agree to organise economic forum with section dedicated to business to business contacts. PM Netanyahu : Romania is a great friend of Israel and cooperation with our country is on an upward trajectory. I’m looking forward to the day when Romania moves its Embassy to Jerusalem

NINE O'CLOCK

Central Bank wants to temper Romanians’ urge to contract loans

Nine O' Clock

Agustín Navarro De Vicente-Gella, Economic and Commercial Counsellor with the Embassy of Spain to Bucharest: Spain’s economic comeback

Nine O' Clock