Moldovan National Agency for Energy Regulation to examine new tariffs for electricity, natural gas on 17 July

Chisinau, 14 July /MOLDPRES/ - The requests for approval of the new tariffs previously proposed by operators will be considered at a public hearing on 17 July, according to the National Agency for Energy Regulation (ANRE). Representatives of the civil society, consumer associations, mass media, energy experts and other interested persons are invited to the meeting.

Gas Natural Fenosa requested an increase "by at least 50 per cent" in electricity prices. The company explained that the request to increase the tariff was due to the substantial currency depreciation and the accumulation of debts resulted from the delay in changing the prices. In 2012, when the electricity tariff was established, the company based the price on an exchange rate of 11.83 lei per 1 dollar. The official quotation announced by the National Bank is currently over 18.8 lei per one dollar. The RED Nord-Vest (North West power distribution grid) and Red Nord (North power distribution grid) state enterprises call for a tariff increase of 60 per cent.

Moldovagaz submitted a request to the National Agency for Energy Regulation to increase tariffs for gas by 48 per cent, up to an average of 8,386 lei per 1,000 cubic meters, on 13 March 2015. In the second quarter, Moldova imported natural gas from Russia at the price of 252.2 dollars per 1,000 cubic meters, less by nearly 60 dollars against the first three months of the year. The price of imported gas in the fourth quarter of 2014 was 376 dollars per one thousand cubic meters.

Prices for electricity should be corrected gradually and the sharp increases requested by the distributors were inadmissible, said Deputy Economics Minister Valeriu Triboi. A statement by the Economics Ministry also reads that the requirements for adjusting electricity and natural gas tariffs were partially justified.

ANRE stated that in examining the new regulated electricity rates they would be guided by the principle of "maximum efficiency at minimum cost" for all operators who had requested approval of new tariffs for electricity.

In the second half of March, ANRE held three public hearings on the requests for approval of new regulated tariffs for electricity and natural gas provided by the RED Union Fenosa, Gas Natural Fenosa Furnizare Energi (Energy Supplier), Moldovagaz, RED Nord and RED Nord-Vest companies. Meanwhile, ANRE specialists "meticulously examined and checked all materials and calculations presented by the operators," reads a statement by ANRE’s press service.

(Reporter V. Bercu, Editor M. Jantovan)