Liberalization drags gas prices up in Romania

Gas price for household consumers in Romania will increase on average by 5% a year until 2018. The growth is based on the liberalization schedule for the regulated gas market agreed with the International Monetary Fund (IMF). According to Government sources, the first price adjustment will take place starting July 1, when the gas price for household consumers will go up by about 6%, reports local Economica.net. “The gas price will increase by RON 6 (EUR 1.3) per MWh every year, until 2018. We managed to convince the IMF to stop at RON 78 (EUR 17.5) per MWh, from RON 90 (EUR 20.2) per MWh, as they initially wanted,” according to the sources. The gas price will increase to RON 78 per MWh in 2018, when the price rises will stop. The Government will then analyze, and if the gas price is still below the market level, the price rises will continue, but at a slower pace, until 2021. editor@romania-insider.com