Vadim Ceban: Adjustment of tariff is a legal instrument by which we can cove purchase price

The president of the Administration Board of Moldovagaz said the raising of natural gas rates for end users is a legal instrument by which the company can cover the high purchase price of gas. Vadim Ceban noted that the current tariff is based on the purchase price of US$620, but during two consecutive months the purchase price was over US$900. The war in Ukraine disrupted the international natural gas market and the Republic of Moldova should adjust the rates to the new realities, IPN reports.
Moldovagaz requested the National Agency for Energy Regulation to increase the average gas rate for end users from 14,060 lei to 22,229 lei per thousand cubic meters of gas or by 58.1% as from June 1. Vadim Ceban said they made such a request because the purchase price calculated based on the formal agreed with Gazprom is high.

“It is the formula we agreed last October. It has two important components – the oil and natural gas quotations on stock exchanges. In winter, the oil component is about 70%, while the gas component is 30%. In summer, it is the opposite. In summer, the prices on stock exchanges usually decline. This year regrettably, given the war in Ukraine, massive amounts are stored in underground reservoirs in summer and the quotations do not decrease,” the head of Moldovagaz Vadim Ceban stated in the program “Shadow Cabinet” on JurnalTV channel.

The end users now pay a gas rate of 15.18 lei per cubic meter of gas with VAT included. If the rate is raised to 22.22 lei, as Moldovagaz requested, the rate with VAT will be 23.99 lei per cubic meter. The chief of Moldovagaz admitted that the rate is very high.

“The recent difference in purchase prices needs to be covered yet. We do not have financing from shareholders or from the state budget. The financial institutions do not lend to us. The adjustment of rates is the only legal instrument,” said Vadim Ceban.

Recently, Deputy Prime Minister Andrei Spînu said that if the National Agency for Energy Regulation decides to increase the natural gas rates, the Government will offer support to families with low incomes. The Executive is working out a mechanism for providing subsidies based on the energy poverty index and state subsidies will be offered based on this.

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