EconMin Popescu: We took measures to complete gas markets liberalization; we expect 10-15 pct drop in prices

26/06/2020 09:43 Natural Gas

news

Minister of Economy Virgil Popescu on Thursday told the Government meeting that measures were taken to allow the liberalization of the natural gas market starting with July 1, while mentioning that a drop in the prices by 10-15 per cent is to be expected as a result.

"We have taken these measures today to complete the liberalization of the natural gas market. I am certain that this liberalization will result in a 10-15 per cent drop in prices and I expect this drop to be reflected in the citizens' bills in July or the beginning of August, at the latest," he said in a press statement.  


The Minister mentioned that Romania will have a free market of natural gas starting with July 1 and that the "last barriers" have been overcome in this respect, through the modifications brought to the Electricity Law.

He explained one of the modifications allowed natural gas suppliers to sell anywhere in the country if they have a virtual information point for the citizens.

Popescu presented other measures aimed at making the process of acquisition and sale of the natural gas transparent.

According to him, modifications were also brought to the Offshore Law.

"Another modification was brought to align the Offshore Law, the law on the extraction of natural gas from the Black Sea, the part referring to the mandatory sale of 50 per cent of the production on the centralized markets, with the Law on electricity and natural gas, with the ones extracting gas from the Black Sea having the same obligation, to trade 40 per cent on the centralized gas market, but through this "gas programme release," said Popescu. 

Source: stiripesurse.ro

 

Daily (04.03.2021): Growing volumes of LNG supply pushed British gas prices lower on Wednesday

04/03/2021 10:27:00

Oil prices surged on Wednesday, supported by decreasing gasoline reserves in the United States and anticipation for the OPEC+ summit on Thursday. As such, Brent oil increased by 2.2% to $64.07 a barrel and WTI crude soared by 2.6% to $61.28 a barrel.

<READ MORE

UK's hydrogen future could involve both blue and green pathways

04/03/2021 08:45:00

The UK's hydrogen future could involve a mix of both blue and green production pathways, but it needs to get started or risk falling behind, panelists said March 3.

READ MORE

China ‘installed half of new global offshore wind capacity in 2020’

04/03/2021 08:43:00

China accounted for half of all new global offshore wind capacity in 2020.

READ MORE