E.ON Romania: Price of natural gas to go up by year-end

The price of natural gas in Romania will go up just as winter will come this year because of the high quotation of oil, up from from USD 50 a barrel to USD 115, according to Frank Hajdinjak, the CEO of E.ON Romania. “If the adjustments had started with small steps back in 2009, we wouldn’t be in this situation where we have a big gap,” he went on. He also said that consumers and the gas companies are in an “extremely bad” situation and that he believes that the liberalization of the gas prices will be a good thing for the Romanian population. “The liberalization will generate competition between gas companies which can lead to lower prices. The entire process is a long term one, the prices can’t be liberalized over night.” Hajdinjak also said the gas prices should go up by two digits this year, in order for E.ON to cover its costs. Alexandru Camburu, alex.camburu@romania-insider.com