The company said that the signing of natural gas supply contracts for the period January 01, 2016 – September 30, 2016 will depend upon signing of the notarized Rescheduling Agreement concurrently with the Contract securing the first-ranking mortgage on immovable property, as soon as possible, but not later than December 29, 2015.
Romgaz decided Tuesday the signing of the natural gas supply contracts with ELCEN for Households and Heat Producers (HHP) and Non-Households (NH) for the period January 01, 2016 – September 30, 2016, under the same contractual terms and conditions, except for the contractual provisions related to % of penalties and to the chapter on imputation of payment.
These aspects are to be renegotiated, Romgaz said in a statement.
Electrocentrale’s debt to Romgaz totals RON300 million.
Romgaz warned in October that it will cease natural gas supplies to ELCEN on November 16, unless the latter comes up with a firm debt settlement program.
ELCEN is the producer and supplier of heating distributor RADET, in charge with heating supply in capital Bucharest.
ELCEN has to recover nearly EUR1 billion from RADET (EUR650 million debt and the rest penalties).