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E.ON Gaz estimates a price of 600 $ /1,000 cubic meters of natural gas in Q4 2008

de Radu Rizea
Luni, 23 iunie 2008, 15:34 English | Business

E.ON Gaz Romania demanded the National Energy Regulation Authority (ANRE) a 24% growth for the final price of the natural gas, starting on July 1, as a result of the international marker rising prices for natural gas acquisition, an E.On release informs. At the same time, company officials estimate that the price growth will continue, reaching 600 $ at the end of the year.

According to the release, the company is forced, at this moment, to sell its natural gas at a price below the acquisition price, a 24% price growth being required only to cover the costs. Additional price growth is expected before the end of the year.

"In case ANRE does not approve the required price growth, starting on July 1, the company losses will reach 200 million RON before the end of the year (some 60 million euro) and ensuring the volume for more than 1.3 million clients will be jeopardized until the end of the year", said Frank Hajdinjak, chairman of the company board.

Distrigaz Sud, a competing company, also demanded a 22% price growth, one week ago. The head of ANRE, Gabriel Sarbu, announced that the price will grow less than 20%, on July 1.

The last price re-adjustment took place on February 1, when the price increased 8.5%.

E.ON Gaz officials claim that the last price growth took place one month later than scheduled, proving insufficient to cover the gas acquisition needs of the company.

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