State schedules gas price hikes in July and October

Gas prices will increase by 2 percent in July and 3 percent in October but if the gas market will not depend as much on Russian imports, then the price hikes may be halved, writes zf.ro.

“The price increases could be reduced to half, it depends on how much we will need to import”, according to Nicolae Havrilet , ANRE president.

The increases are part of the deregulation process that the IMF and Romanian Government agreed on for the energy market. The population will benefit from a longer period of having to pay regulated prices for gas, namely until 2018, a period that could be extended by a year.

Further price hikes for big energy consumers (companies, industrial complexes) are no longer necessary because Romania’s prices are now at the same level as those in the region, according to Energy minister, Razvan Nicolescu.

The official also promised that 2015 will provide a chance to reevaluate the deregulation calendar and further price increases may no longer be necessary.

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“We will re-evaluate the situation in 2015. There are lots of things happening on the market there is a downward trend in terms of pricing. Now we are almost at the same level with the countries in the region and for this reason we cannot foresee a new increase. The calendar’s final objective is to reach convergence, not to have higher prices than the European average. We agreed with the Energy commissioner to have a meeting every 3-4 months, so that prices don’t go above the European average”.

Nicolescu also teased the possibility that gas prices next year may in fact be smaller than what was initially estimated in 2012, when the calendar was designed, capital.ro reports.