Romania’s electricity and gas prices will go up between 2013 and 2015, since the Government will eliminate regulated prices, in compliance with requests by the International Monetary Fund, Romanian Prime Minister Emil Boc said Monday.

Authorities now have until September 2011 to establish a calendar for price liberalization, following the definition of consumers considered vulnerable, which need to be protected.

"On the energy segment, throughout 2011, the following measures will be taken: a calendar will be established until September, removing regulated prices on electricity and natural gas. The calendar will be implemented between 2013 and 2015. Furthermore, the Finance Ministry and the Labor Ministry will define vulnerable consumers, and will create mechanisms to protect these consumers, in the outlook of measures to be taken between 2013 and 2015," Boc said.

In 2010, energy regulator ANRE said it would order an impact study considering the scenario where prices are no longer regulated for electricity and natural gas.

Mediafax