Natural gas producer and supplier Romgaz announced on July 10, in a note to investors, that the it amended a sales-purchase agreement with Engie Romania, the largest gas distributor in Romania, as a result of the decrease in energy prices.
Following the change in the legislative framework (the price capping mechanism for residential end users), the contract changed from RON 150 (30.1 euros) per MWh to RON 120 per MWh, meaning a 20% decrease. Thus, the value of the agreement dropped from RON 289.4 million to RON 233 million, according to the note.
