Although Amonil Slobozia went bankrupt a month ago, ANRE’s new decision that the fertilizer producers will receive gas at subsidized price totally changes the situation – Amonil has yesterday called for bankruptcy to be suspended.
“It is good to keep local fertilizer production at the expense of exports. That means jobs and taxes collected to the budget by the taxes on wages – which, according to some calculations, are sometimes more important than the profit tax,” energy expert Ionuţ Purica told energenomics.ro.
“The likelihood of obtaining a subsidized price was also before the ANRE order. From my point of view, ANRE’s decision is totally illegal. Give me a single provision where ANRE can set quantities for the sale of natural gas – except for storage. There is no methodology in this respect – so it cannot act without a methodology”, says gas expert Dumitru Chisaliță.
Some sources in the market claim that Ioan Niculae could sell his fertilizer plants.
Analysts say that although we cannot speak of a direct subsidy, in the case of a price cap, if after this cap, the market price of a company has increased overnight, the authorities will not find this move quite legal, later.
At the same time, nominating competitors in the market that receive certain quantities to the detriment of others is contrary to the gas law. Art. 99 of Law 123/201 refers to the promotion and stimulation of free competition and prices, established on non-discriminatory basis.
“Not everyone in ANRE signed that order. We also have a resignation, as far as I know,” a source told energynomics.ro.
Vice-president Henorel Soreaţă resigned today, confirmed independent sources. Soreaţă, who worked for many years in ANRE, was appointed by Parliament as vice-president in May 2017. His mandate was due to end on 23 April 2020.
Currently, the government and private players are having intense negotiations on GEO 114/2018, and on Thursday the final form of amending the ordinance is to be established – a form that could radically change the situation in the market.
“I do not think that the gas price of 68 lei / MWh will change. Probably there will be no longer a tax of 2% of turnover, but 2% of profit … “, commented Chisăliţă.
Until then, fact is that Amonil blocks the bankruptcy procedure and can reorganize on the basis of the new price – which represents, according to experts, about 60-80% of the cost of fertilizer production.
Here is the Amonil release to the Stock Exchange, today:
“At the deadline of March 25, 2019, the Bucharest Court of Appeal, the 6th Civil Section, admitted
the request for suspension made by Amonil S.A. via the special administrator – Cristina Matei and ordered the suspension of the syndic judge’s decision on the opening the general bankruptcy procedure against Amonil SA, contained in the civil judgment no. 281 / F dated 22.02.2019, pronounced by Ialomita Court – Civil Section, in the file No 1611/98/2014, pending the final settlement of the appeal.
The closing of the meeting is final.”
