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Romania’s largest energy suppliers will increase the price of natural gas by two and a half to three times from July, mostly justifying the rise in price with the war in Ukraine. In fact, the increase is a direct result of the Romanian member of the European Union regime – after accepting and using Russian gas – refusing to pay for the deliveries in rubles. Many EU nations have decided to pay their bills in rubles.
Despite reassuring statements made by Bucharest government officials, the soaring prices in energy prices in Romania which began last year are unstoppable, according to the Hungarian-language Romanian newspaper Krónika.
The rise in prices is now linked to the abolition of state-regulated energy prices, namely the liberalisation of the retail price of natural gas in July 2020, and the abolition of the residential price of electricity in January 2021.
Referring to the upward trend in global prices, companies have seen price increases of 15-20 per cent and then 100-200 per cent, Krónika writes, but there are already utility companies that currently sell natural gas and electricity at four to five times the price from a year and a half ago.
Disappointingly, the Romanian newspaper points out that the process of rising prices is far from over. E.ON Energie, one of the largest gas companies in Romania supplying 3 million residential and industrial customers, has recently informed consumers that it will supply natural gas at almost two and a half times the current price from July.
‘Due to the continuous increase in the purchase price of natural gas in the recent period, and the changes in the conditions of the Romanian energy market, our company is not able to extend the contract concluded with you under the current commercial conditions,’ a contract amendment sent to customers read.
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While Romania has recently sped up construction of its offshore natural gas extraction platform in the Black Sea, that project will probably take years to become operational. Meanwhile, on a typical winter day, Romania uses 40 million cubic meters of gas, of which some 24 million cubic meters come from land-based domestic extraction. The rest, however, albeit via three different routes, all come from Russia which the Romanian regime has sanctioned.
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Categories: Current Events