Transgaz income climbs by 25% despite lower gas consumption

Transgaz Medias (TGN) natural gas transmission operator last year derived net income worth 298m RON (70.1m euros), up 24.7% year-on-year and slightly higher than the budgeted level. The company in the same period saw its turnover rise by 6%, to a level of 1.18bn RON (279.4m euros). The rising turnover and income Transgaz reported last year were almost entirely due to a hike in tariffs for transmission through the national system by 42.6%, to 7.13 RON/MWh, reads the company’s report. The higher tariffs boosted Transgaz revenues by 260.5m RON (61.3m euros), a figure accounting for over 70% in the company’s gross income. On the other hand, the lower volume of transmitted gas cut the company’s revenues by 82.2m RON (19.3m euros). Starting 2006, the volume of natural gas transmitted by the company has constantly decreased, by 24.14% in the past three years, but transmission tariffs have soared during the same period by 85.7%, so that the company has reported stronger financial indicators each year.