Engie’s decision to relinquish its status as a Supplier of Last resort (FUI) does not affect the portfolio of 1.9 million existing customers, but is a prudent and responsible approach to ensure the continuity of natural gas supply for its customers, the company says.

The status of supplier of last resort (FUI) means taking over the customers of those suppliers who have renounced the supply license. Engie Romania S.A. notified ANRE, at the end of October, regarding the renunciation of the status of supplier of last resort starting with 15.12.2021.

The waiver decision was taken in view of the unprecedented evolution of natural gas prices and the context of uncertainty generated by the impossibility of anticipating the takeover of these suppliers’ customers in advance and of ensuring the necessary quantities of gas for them.

”In just two weeks, Engie Romania took over approximately 20,000 customers from the portfolio of three suppliers who renounced the natural gas supply license. In addition to the operational effects of taking over these customers, the recently enacted support scheme creates major financial imbalances for the company. The current capping mechanism provided by Law 259/2021 does not ensure the full recovery of the real acquisition costs of Engie Romania because the average purchase price applicable between April 1, 2021 and March 31, 2022 is taken into account and not the market price at which we purchase gas,” it is also shown in the company’s release.