The revision comes after the energy watchdog ANRE decided not to modify gas tariffs at the beginning of July, as expected.
“Given that no indication was provided on the future course of action by the regulatory body, we decided on a conservative approach, assuming tariffs will not be altered during the current gas year (July 2011-June 2012) and thus remain flat year-on-year,” Raiffeisen said in a report.
The Austrian financial group estimates the next tariff revision will take place in June 2012.
Raiffeisen forecasts Transgaz will report net profit of RON174.3 million in 2011, down from RON179.4 million previously envisaged.
Transgaz is 73.5%-owned by the Economy Ministry, while investment fund Fondul Proprietatea (FP.RO) has almost 15% of its shares.
Thursday, Transgaz’s shares traded up 0.13% at RON228.5 in Bucharest. (EUR1=RON4.2454)