ANNUAL REPORT OF “TRANSGAZ” MANAGEMENT INDIVIDUAL ...

SNTGN “TRANSGAZ” SA Medias Annual Management Report for 2007
Management ratios
Such ratios provide information on the company’s cash-in flow or cash-out flow and
the company’s ability to control the working capital and its basic trading activities.
The conclusion is that over the period under analysis the receivables recovery time and
the debt reimbursement time shortened.
150.00
100.00
50.00
0.00
Receivables turnover
- days
Payables turnover
- days
2005 2006 2007
115.60 99.95 91.85
50.47 50.01 39.33
1.1.2. Assessment of Transgaz technical level
During 2007, Transgaz performed activities based on the economic-financial ratios
provided in the Revenue and Expense Budget approved by Order no. 2128/November
20 th , 2007 of the Ministry of Economy and Finance.
Transgaz’ main activity, i.e. gas transmission through the National Transmission
System, is a natural monopoly and thus a regulated activity performed under the
operation licence and under the other regulations of the ANRE.
The tariffs for the transmission services are regulated and determined based on orders
of ANRE. The table below illustrates the transmission tariffs over the assessed period:
Tariff of the transmission services
Tag
no.
1.
2.
3.
4.
Order of the regulatory
authority
Order of ANRGN
73/14.06.2004
Order of ANRGN
63/09.06.2005
Order of ANRGN
35/08.06.2006
Order of ANRE
33/18.09.2007
Term of
application
Volume
component
(lei/1000 cm)
Firm services
capacity booking
component
(lei/1000
cm/hour)
Interruptible
services
capacity booking
component
(lei/1000
cm/hour)
July 1 st ,
2004 11.55 9.67 -
July 1 st ,
2005 16.04 9.67 -
July 1 st ,
2006 25.35 9.67 9.14
Oct. 1 st ,
2007 37.28 10.97 9.17
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