INA will be obliged to sell gas covering household supply at regulated price
MOL Plc. hereby informs the capital market participants that INA, d.d. made a Stock Exchange announcement today about the decision of the Croatian Ministry of Economy concerning obligatory natural gas sale.
On 27th February 2014 a package of resolutions related to INA’s obligation on delivering the gas produced in Croatia under regulated price, put forward by the Ministry of Economy, has been adopted. This decision obliges INA to sell the portion of its natural gas production for household supplies to state-owned company HEP as the wholesale market supplier, also introducing distributors’ purchase obligation from HEP.
So far INA (through Prirodni plin) received 2.2000 HRK/m3 for sales in the household segment while now INA shall receive 1.7058 HRK/m3 for the respective volumes. Parallel, the regulated sales price of HEP towards distributors to household customers will be 2.4032 HRK/m3. According to the new regulation - on a like-for-like basis, taking into account adjustments in cost items - INA will have to transfer, depending on the natural gas quantities, HRK 250-350 mn (HUF 10.2bn – 14.2 bn) annually from its own revenues to HEP.
For further information, please contact:
Investor Relations + 36 1 464 1395
facsimile: + 36 1 464 1335