E.ON Romania expects double-digit gas price hike.

By bne IntelliNews February 10, 2011
E.ON Romania forecast a gradual rise in natural gas prices by a double-digit percentage, Mediafax reported, quoting E.ON Romania manager, Frank Hajdinjak. The local branch of the German utility operates one of the countrys two major natural gas distributors. Hajdinjak specified that he refers to the regulated prices for industrial users, and not to the prices for households. Currently, industrial users still can benefit from the prices, set by the market regulator as a weighted average of the prices of imported and locally produced gas. E.ON Romania said it can no longer afford selling at a price that is below its costs, refering to the market regulator's failure to update the regulated price with the higher weight of the more expensive imported gas. Notably, none of the two domestic natural gas producers, Romgaz and Petrom, commented on IMFs suggestion for gas price liberalisation. The two-digit gas price hike, discussed by E.ON, refers only to the update of the regulated price based on the higher share of imported gas, but not to allowing domestic gas producers to raise prices.
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