During the last period, no revenues related to the legacy contract were recorded. As regards the balancing activity, as we presented, it is neutral from a profit point of view. I mean, the revenues equal the costs. Even if the revenues decreased, the same impact is reflected in the balancing activity, which means it is neutral for Transgaz. As regards the financial revenues, they had a negative influence of 26 million RON, mainly because of the decrease of the inflation rate, the receivable related to the concession agreement. As regards the operation revenues, an increase of 173 million RON as opposed to the previous period.
The main drivers, the main factors, main expenses which recorded, so the technological consumption with the savings, the achieved price being lower with a positive influence of RON 13 million, and the gas related to the technological consumption being higher with a negative influence of RON 11 million. Such two factors determine the value of the technological consumption lower by RON 1.5 million. The technological consumption remains in very good percentages and records values of 0.49%.
As regards other costs, it's the category of other operating expenses that decreased by RON 54 million, basically on account of the provisions for the impairment lower than the previous year. As regards the expenses category related to the previous year, these are personnel expenses, personnel costs, taxes, and mainly the royalty expense, which increased by RON 169 million, determined by the increase in the percentage of the application of the royalty or the royalty percentage applied to the transmission tariff that increased from 0.4% to 0.5% of the achieved revenue. Sorry to interrupt you, but you are still at slide four.
The presentation did not go further. Please do. All such factors that I mentioned are presented in the presentation displayed. We are at the royalty topic. The royalty increased by RON 169 million, as I mentioned before, but is to be found in the regulated revenue. The royalty is a cost, pass-through costs, which is recovered by the regulated revenue. Financial expenses decreased by RON 43 million, basically on account of the reduction of the currency exchange differences. The participation in Eurotransgaz was decreased by 13 million RON. Last year's costs and revenue, 13 million were recorded.
Such a decrease is not present in this year. Such reductions were not recorded in 2024. As a conclusion, the gross profit recorded an increase of 200%. It's doubled compared to the previous year. So as the net profit, main indicators of the company improved as well, considerably compared to the previous years. You can see a better total in sales and in equity. All the indicators, all the financial indicators improved. As for the number of employees at the end of the period, you can see a decreasing trend of the number of employees. 12 or 13 years ago, we had approximately 5,000 employees, and now currently have 3,900 employees.
As regards the consolidated result of the Transgaz Group, that also includes VestMoldTransgaz and Eurotransgaz. Eurotransgaz is the company 100% owned by Transgaz in the Republic of Moldova. It is the vehicle that owns 75% of VestMoldTransgaz. VestMoldTransgaz is the transmission system operator of the Republic of Moldova. It is the operator of the entire transmission system in the Republic of Moldova, starting with September the previous year. It is the first year in which VestMoldTransgaz recorded a profit. The profit is approximately MDL 20 million since it took over the operation in the Republic of Moldova.
It has regulated activity, of course. It has a profitable activity. As far as comparison with the revenue and expense budget, the preliminary results are better than the budgeted ones, mainly due to the revenues from operation that increased by MDL 47,000 on account of the savings in the operation activity, recording savings of MDL 200 million compared to the budgeted ones. As far as the gas quantity transmitted, it is maintaining at the level of 13 billion. But in the last period, the interconnection point Iași-Ungheni is more and more used. Such quantities are increasing. You can see as compared to December.
In December, the transmitting quantities, it is a rolling quantity transmitted over a year, but you can see the tendency to increase. As far as the price of technological consumption, it is RON 120 regulated for a part of the consumption, not for the entire technological consumption. Adding the excise and technological consumption reached the price of RON 205. The technological consumption is recovered and recognized in the regulated revenue. The share of the technological consumption, as I said, is under the level. It is 0.49% in 2024. These are mainly the things I wanted to highlight related to the preliminary statement of 2024.
You can see further on in the presentation the projects developed by Transgaz, major projects for gas transmission, updated according to the latest investment plan approved by the National Regulatory Authority. I would like to pass on to the questions section, questions and answers section of our meeting.
Hello, Marius. Hello, Violeta. Thank you very much, Ioana. Thank you for this presentation. Marius, can you tell us, please, what is the regulated asset base taken into account for the regulated revenue? Yes, the value of RAB is RON 6.3 billion, RON 6.4 billion, RON 6.38 billion. Such values are presented for each tariff or for each approved revenue we published on Transgaz's website in information regarding regulated asset base and the components of the regulated revenue, which is RON 6.4 billion. Thank you so much.
We have a question on the chat. Hello. What's the status of the works at the pipeline Bacia Power Plant Mintia for the supply of gas to the power plant? And the second question, shall I read it now or later on? I will reply to the first question. Yes, the works are ongoing at Mintia, but we are according to the schedules. Of course, we will be ready before the completion of the co-generation projects in order for it to be supplied with gas when the time comes.
The second question, are there any delays regarding the construction of the works Bacia Power Plant Mintia? And what sections do they relate to? I'm not aware of the fact that there are delays. I know that there is an agreed schedule. It was discussed to be synchronized in order for the Mintia project to be synchronized. I mean, the co-generation plant with the Transgaz project. I know of no delays as far as Transgaz is concerned.
I don't know what happens on the other side. And the same subject, the third question, are there any guarantees that the works will be accepted within the deadlines? Yes, Transgaz team has periodic regular meetings in order to synchronize, to align to the schedule of the Mintia implementation team.
Ms. Ioana Andrei would like to ask a question.
Hello. Thank you very much for the presentation and for the opportunity to ask questions. I would like to ask you to start with, can you tell us in the regulated revenue for the current period, which was the considered price for the technological consumption? I assume that the regulated revenue of 120 was considered until March. Am I correct?
In the technological consumption, we do not take the unit price, but the achieved price. As I said, technological consumption is recognized as far as the achieved value is conserved related to the technological consumption. We do not take into account the 120 RON price. But for the current regulatory period, the price was established last year before May, I think, when it was announced, when the regulated revenue was announced for the current period. It could not be the achieved price. Maybe the price from the previous period. No, in the previous period, is recognized that the technological consumption in terms of the achieved price.
If there is a difference in terms of methodology, delta technological consumption is calculated and it is recognized. At the moment, I suppose that the legislation or the methodology for the next regulatory period is not prepared yet. Am I right? It's not public for consultation. Yes, it is made public. It's not completed to say so. There is a version that was submitted for consultation, but it's not completed. And the version submitted for consultation, are there information related to Monopoly Tax or monopoly fee? Will it be included or not? I will not take into account the version submitted for consultation because it is not a final version.
In such a version, such version does not provide for the recognition of such fee. Do you hope it will be included in such a methodology? Yes. It is a tax, as I said. Monopoly tax is a tax as any other tax that Transgaz has no way to use it. It is not controlled by the company. It has the same definition as the pass-through cost in the methodology. Yes, we have expectations, of course. I see. Maybe in the context of the Neptun Deep block, maybe it will have a greater significance in terms of that. Yes, if you report it to a quantity to be transported, it will be higher if the tax will be higher.
But you know that according to the applicable law, monopoly tax is applied for 2025 as well. We do not know if the application will be extended or not. So according to the law, it ceases at the end of 2025. Yes, it is applicable until the end of 2025. I understand. Basically, the scenarios are either to be taken into consideration or to end its applicability. If it is recognized in the regulated revenue, it's less relevant from the point of view of the revenue or the financial results if it is extended or not. If it is not recognized in the tariff, it is very important not to be extended. The VestMoldTransgaz activity is affected by the emergency situation declared in the Republic of Moldova.
Are there problems in supply? No, there are no problems. They were supplied. Transnistria is a more specific area. The transmission system operator does not ensure transmission in the Transnistrian region, but there are no problems in terms of supply and in terms of gas transmission in locations in Transnistria. Can you tell us the value of the regulated asset base related to the Republic of Moldova? Yes, we can tell you such value. We can make it available to you, but I do not know it at the moment in order to tell you now. It's also that it has a different rentability rate. I think it's around 7% or 10%. I'm not sure. I don't know. I think it has the same rate.
I know that you will publish the budget soon. I wanted to know if you are intending to require an exception. By the budget, we keep the general rule, which is presently 90%. It's not provided for by law, but it is provided for in the state budget. Companies do not have to propose 90%, but irrespective of the fact, if the budget provides for 90%, if it is approved, it can be approved a higher rate than the one provided for in the budget. So your proposal for dividends is to understand that dividend proposal does not depend on the proposed budget.
It can, so as to provide an example, for many years in a row, we had 50% provided in the budget and 90% or 115% of an exception in a year were distributed. If we say that the state imposed it, 90% distribution of dividends from the net profit, will you try to require an exemption from this rule to have more money for investments, or will you comply with the general valid rules? This is the decision of the general meeting of shareholders of the board of administration. It's not my decision to make.
First of all, as a company, you have to ensure that you have sources of financing for your investments. If they will approve 90%, for sure, we will not propose 40%. Not only in the past year, but in the past years, Transgaz has projects to implement in a short period of time. But I repeat, the board of administration and the general meeting of shareholders will approve as they see fit. And since you approach the idea of investments, basically in the investment plan, in the investment strategy, most of the projects are LA non-FID.
Which one of the projects has a real chance of being the next major project in the next, let's say, one or two years? Tuzla-Podișor is to be completed this year. But for the next project, higher scale project, which has a real chance of being implemented, we talked about the project Mintia earlier. This is such a project. Another project is Tuzla-Podișor. Another project is the development of the BRUA Corridor. Another project is Ișalnița and Turceni. There are projects, but you'll see more information when we will publish the budget, I think tomorrow or the day after tomorrow, and you may be able then to find such values there. Yes, there are major projects to be implemented.
One last question. How do you see the evolution of the gas consumption in the following period of the transmitted volumes? I cannot say, but to copy what our Director General stated, we estimate a major increase in the consumption and gas quantities transmitted to the NTS because the gas from the Black Sea will be exploited. And the Mintia plant will be commissioned, is the largest co-generation unit in this part of Europe, Ișalnița and Turceni as well. There is also the Iernut plant. So yes, gas quantities will be doubled. This is what we estimate to be transmitted. For Mintia, which is the completion deadline, there are several stages.
First stage will be completed this year. But the first stage is, I think, in August or September. But I'm not sure. Maybe I think we can make it available to you. And to add, we have the Anghel Saligny Program with a request for connection. We'll bring further 3.2 billion cubic meters. Thank you very much. That was all on my side. You're welcome.
Mr. Octavian Duma would like to ask some questions.
Hello. Thank you very much for the presentation and congratulations on the results. I would like to ask you regarding the cost, the expenses, maintenance and transmission, making a difference between such expenses for the consolidated results around 132 million and the ones on the individual statements around 58 million. I infer the fact that in Moldova, with VestMoldTransgaz, we have a higher expense, around 74 million for 2024. I was curious, could you tell us some details about such expenses and why are they higher in Moldova where the system is smaller in size?
The operation of the entire national gas transmission system in the Republic of Moldova is based on two contracts. VestMoldTransgaz is the owner of 110-120 kilometers of pipeline in Moldova, the pipeline connecting Ungheni to Chișinău. The other part of the NTS belongs to several owners.
The one who has the most of the assets is Moldovagaz, who delivered based on a contract, a five-year contract, delivered the operation of the system, but the maintenance and the maintenance of the system in the Republic of Moldova, not for the part belonging to VestMoldTransgaz, but for the other part is based on a maintenance contract concluded between VestMoldTransgaz and Moldovatransgaz in the Republic of Moldova. That expense related to the maintenance, which includes any activity related to the maintenance, to that asset is included, is presented in the expense related to maintenance.
That maintenance means a lot more, I mean, more operations than only to intervene and maybe paint or change a valve in the system. But we presented it in the financial statements. I could show you. We presented the fact that the operation in the Republic of Moldova is based on two contracts, a lease contract concluded between the owner of the networks and a maintenance contract concluded between VestMoldTransgaz as a beneficiary and Moldovatransgaz, which was the previous operator, the previous transmission system operator in the Republic of Moldova.
But they are not entitled to operate now, only to ensure the maintenance for the transmission. It seems to be a bit atypical, the fact that the expense is higher than the one in Romania, but now it's clearer. We have some questions on the chat. Ms. Daniela Popov, can you detail the CapEx value in 2024 and what amount was allocated to Tuzla-Podișor project? Yes. The CapEx value for the previous year, just a moment.
RON 1.8 billion, RON 1.7 billion, out of which the assets Tuzla-Podișor, RON 1.5 billion. So Tuzla-Podișor has a majority role. What CapEx do we expect to achieve next year? Around RON 2 billion, but such information will be prepared for the next year and the next years, 2026, 2027, together with a budget, but around RON 2 billion to be invested next year. When will you publish the budget for 2025? What were the factors contributing to the profit of VestMoldTransgaz?
The convening was published yesterday and the materials, I don't know, [maybe it could be] tomorrow or on Monday, I do not know. So tomorrow the budget will be published. The second question, what determined the profit of VestMoldTransgaz? The activity, the transmission activity is regulated activity with a regulated profit. VestMoldTransgaz has no profit in the previous years, even if the revenue was approved. It was because they did not transport gas or enough amounts of gas. But starting from last year, I mean, starting with the last two years, it transports the entire gas quantity by the system operated by VestMoldTransgaz.
So it is a regulated activity with a RAB and ROE. So it is normal to record profit. And I would like to come back. There was a question. What's the RAB value in Moldova? It's 1.5 billion MDL. And Ms. Dana Mândru would like to ask some questions, please.
Hello, thank you for the presentation. A few questions to follow up, and then I will come with my own questions regarding the CapEx for the following year, estimated. We'll soon see the budget which will be published on the 7th, that is tomorrow. I do not understand. 2 billion is EUR 400 million . You also have Tuzla-Podișor. How much do you have to invest for this project?
I think 90 or 95% of which, yes, so it's 95%. I do not see any project. The greatest project is EUR 250 million , the development of the Romanian territory, EUR 150 . In what do you invest EUR 400 million in projects, in pipeline projects? I said Mintia is one of the projects. Yes, I do not see it. Yes, that's what I said in the development plan for the 10-year development plan. Does not provide for all of Transgaz projects. Only the major projects are there. But I can tell you that there is the Mintia project, Ghercești-Jitaru project. There's also Tetila-Horezu-Râmnicu Vâlcea gas transmission pipeline. Transgaz received funding for such projects, grants.
But from the development plan, from the modernization fund, grants amounting to RON 540 million were approved. RON 39 million for Ghercești-Jitaru, for Mintia, RON 33 million. For Turceni, Ișalnița-Turceni, RON 42 million. On the other hand, at the end of 2024, financing contracts were signed with a modernization fund. We are talking about grants of RON 250 million for the Prunișor, Orșova-Băile Herculane, RON 29 million, Tetila-Horezu, RON 100 million, Siliștea, RON 110 million. There are projects for which we received grants, significant grants, but the projects, their value is higher. All these projects will be developed or in implementation stages.
Just one question. If you present some major projects, I agree. I agree with you. We will update them. I'm not familiar with the activity of the company and find myself in the position to ask such questions. We will do so. Thank you for the suggestion. I do not want to be critical. It is a good criticism to say so. I have also noticed high differences between achieved and budgeted on account of costs. Me as an analyst, I do not make mistakes in terms of personnel expenses. The error share is 100% maximum. Something happened. They are not misjudgments. They are not errors related to budgeting, but I can explain.
We have management teams, management project teams. We do not have companies that are in charge with the management of the projects. We have a subsidiary as well, an intervention subsidiary participating in the implementation of the projects. They also perform parts of the investment projects. The personnel expense is to be budgeted separately. Each man per hour, this is how it's budgeted. But in achievement, such personnel expenses who are involved in such projects has to be in the value of the investments. This is how we recorded around 60 million savings with the personnel. That is for capitalization, yes.
And the rest with the provision for risk and costs, yes. This happens. I understand. Auxiliary materials and other material costs, I think, are due to the investments, fewer investments, or I don't understand. They are substantiated because they are used for investment works. They are to be found. They are not used at such level for investments. But they have to be budgeted and they are ongoing in different stages, procurement. So as to be able to perform a procurement, they are performed in the regulated environment in compliance with the procurement law. The procurement takes about six months or more if there are no appeals.
But if you do not budget such expense, you cannot launch an auction. According to this calendar or schedule, we may have such deviations. Yes, I understand. And question, if I found logical, what you recorded the deviations from the budgets. I suppose that when you established the regulated revenue for 2024, so as the corrections to be made, you estimated the budget, all such difference will appear as a correction. No, no. On the regulation, the cost except for the last year, which was the 6th of the 5th, five regulatory periods, the transition to the 6th, expenses are substantiated in the beginning of the regulatory period.
I mean, five years in advance, they are adjusted every year according to inflation. These are the elements that can vary from one year to another, except for the pass-through costs, the costs which are not under the control of the company. I mean, royalty, salary tax, contributions, and so on. They are recognized at that level. The technological consumption is also recognized, which is actually achieved, and the CapEx component by depreciation and the regulated asset base. Of course, there may occur differences between the achieved revenue. There are several components that can be adjusted.
You can have a higher revenue than the one approved, or if the additional value will be adjusted in the following year by minister, or you can achieve less from various reasons and not achieved year will be seen in the following years. Major element, the regulated revenue was the royalty. The royalty increased from 4% to 11.5%. And because such a percentage increased during the year when the regulatory year started after the 1st of October 2023, for 2024-2025, there was a royalty both for the previous year and the current year. So there may appear elements for the adjustment from one year to another, but it's not connected to budgeting. No. I ask because I look at corrections.
We have correction from previous year, correction from previous years. Because such corrections, the previous year, when the substantiation is made for the transmission tariff, such process begins in February or March. The tariffs have to be approved in May or June in order to participate in the auction on the first day of July when the annual auctions take place all over Europe. But there are tariffs applicable for the period starting with the 1st of October. So when the substantiation is sent for the tariffs, there are two years that are not completely closed. That's why it is said the previous and the year before.
This year is a transition year. Yes, you're right. The correction from the previous years are still should end when the next regulatory period begins. When such period begins, I have to be completely corrected, completely corrected with the adjustments of the last year. Complex. The idea is that I have to recognize the achieved costs. But because I go with the forecast, they can differ from the achieved. Such differences will be adjusted. I would expect that during a regulatory period, the corrections in the previous years and the years before to be materialized already. Yes, you are right. Less the last two years because they were not closed.
Can you tell us the value of the absolute value of the corrections to be achieved with plus or minus? I cannot tell you such values because I cannot predict the future. I can see and can talk about the past, but I cannot talk about the future. You have data available. I know what we did up until now, but I cannot predict what will happen next week. Yes, that's why I ask you because I do not manage to make the calculations. The expectations on the market when I covered Transgaz, this was the theory that during the regulatory period, all the corrections are performed and the new period begins, to say so clean.
Yes, clean, but also with the adjustments remaining from the previous years because there's no other way. If you achieved in the past year a plus of RON 10, that does not remain. It has the same principle. If it's a plus, you have to give it back. But is there a chance to publish such values? Yes, but the values are published. The corrections to be achieved. The corrections remaining. The values are published together with the tariffs. We publish such information on Transgaz website related to such elements. Yes, I see them, but there are corrections to be made. No, those are corrections that were made for 2024.
They were related to 2024 to 2025. But the correction to the previous years are still to come. The question is, which is their value as we speak? That was the question. I understand. You want to know Delta VT. Yes. How can we make estimations? It's very difficult for us. If you do the calculation in Excel, you can calculate for Transgaz, but it's far from reality. If you want something closer to reality, you need more data because it's an estimation of an estimation. The idea is that we can make estimations and we make estimations.
But when you obtain from auction premiums, which is a regulated revenue, 100 million RON, who would have guessed that in the beginning of the year, the interest will be higher, that the auction will stop at around 27? There were 27 rounds until capacity was allocated. There's some degree of estimation. What you have as a surplus in one year is adjusted in the following year and the other way around. So I have to figure it out, to figure out the correction on my own. I can tell you that for 2023-2024, we have approximately 90 million RON, Delta VT.
But I repeat, there are other elements that have to be taken into account and can amend them. Okay. And another question. Questions that will help me make estimations. We have to estimate the regulated asset base for the following five years. We make estimation for five years. I read several times all your reports, and I do not understand of the published information, which is the CapEx to be included in the regulated asset base. I give an example. In 2024, you made the investments with loan reimbursements of EUR 1,900,000, out of which you said you commissioned investments of EUR 2,017,000,000.
Is it correct to assume that this value will be included in the regulated asset base related to the following year, the following year's year? So you are talking about 2017. Part of them are in the regulated asset base, part of them are not. Because what is commissioned until September 30th is included in the RAB, and from the 1st of October is included in the RAB related to the following year. Yes, I make the difference between these periods. All the investments we make are included in the regulated asset base. When I calculate the regulated asset base, I estimate RAB.
I have to look at the investments commissioned. Yes. And if they are commissioned, yes, yes, I understood. I understood. So that was the amount I had to take into account. And then I have another question just to help us analysts and investors as well, because they read our reports. This year, you'll make investments of EUR 40 million to 1 billion RON. Of course, it's not a RAB CapEx. In the following regulatory period, in terms of investment value to be achieved annually. Yes, we have estimations, but tomorrow when we'll publish the budget, you'll see the figures. And I think it covers your question.
And then some estimations related to RAB CapEx, the CapEx that it is included in the regulated asset base. Can you give us, can you tell us? We made a huge step when we published all the substantiation of the regulated revenue with all the elements, RAB per categories, and everything. I think the best estimation you can make is to be found in the budget, where you have the commissioning years. But in the budget, you have RON 2 billion investments, RON 1.7 billion investments, and the RAB CapEx RON 200 million. It does not help. Yes, it helps in terms of cash flow.
I understand, but you are not based on the revenues substantiated by Transgaz in the budget because Transgaz substantiates the revenues. There are differences of 2 billion RON between the budget and the achievements. You are not based on anything at the moment. Thank you very much.
We have a chat question. Could you provide some context or arguments regarding the procurement of Petrostar? Yes. Everything started in October or November when Petrostar, a famous, renowned company, because it designed everything that referred to oil and gas in Romania and beyond, published its intention to increase its share capital. In this moment, we, I mean the company, consider that there are certain synergies between the two parties, and yes, we consider that it is of interest for Transgaz, both in terms of design and to be able to participate in projects even beyond the country.
Of course, Transgaz had an evaluation and conducted a due diligence process, and it is interested in such procurement. It is a procurement in the field of oil and gas, which somehow complements or brings added value to Transgaz activity. Of course, it will be subject to the general shareholders' assembly of Transgaz and of Petrostar, and the shareholders of the two companies will decide if this transaction is accepted or not. But yes, Petrostar, for whom does not know, they had 30,000 projects implemented. It is a design engineering company with an extraordinary background.
It would be a pity to lose this opportunity if we are able to build on it. Mr. Ciocoiu asks another question on the chat. Do you have an estimation of the impact of the Monopoly Tax or what was its amount in the last year when it was applied? We had a budgetary impact. You will see tomorrow. I don't want to tell you before everybody finds out. We cannot compare with, for the moment, we are working on norms, I mean on the rules. We cannot compare because now the calculations are made for the assets and the concession, not only for the assets you owned. As you know, we operate a gas transmission system based on a concession agreement.
Initially, we took over the pipelines, parts of the NTS in 2002, based on a concession agreement. We are not the owners of the transmission system. We have only an operation right, and for such assets, we pay. Anyway, that value is a pass-through cost, which will be recovered by the regulated revenue. Irrespective of its value, will it be higher or lower? We do not know what the rules will contemplate, but we have a significant impact.
We have a major impact, which is not significant, so to say, but it will be recognized as parts of the regulated revenue when the time comes. Ms. Laura Simion, I could tell you that it is lower than the monopoly tax, just to have a direction, so around. But you will find that value substantiated in the budget report. Please. Ms. Simion.
Hello. Thank you so much for the presentation. I have some questions to follow up. The first question regarding the regulated asset base, I understand from what you mentioned that from Tuzla-Podișor, nothing was taken into account in September 2024, but you will reflect everything in September 2025. Regarding BRUA phase II, my impression was that this project should go in parallel with Tuzla-Podișor. What do you still need in order to adopt the final investment decision?
We conducted an Incremental Capacity process last year in July for the Vertical Corridor. This corridor being a concept increasing the transmission capacity from Greece, Bulgaria, Romania, Hungary, and beyond, or respectively Moldova and Ukraine. That Incremental Capacity process was completed without any capacity allocation. The reasons? I don't know. Each party had its own reasons. The market was not able to commit to a 14- or 15-year contract. Actually, this is what the Incremental Capacity process involves, to express your commitment for 10- or 15-year periods.
The market didn't show any interest in such products. This is why the whole process, the whole Incremental Capacity process failed. You know that capacities are constructed not only to be constructed, but only if someone has an interest in using such capacities. If such an interest had been shown, the capacity booking should have been binding, and the project would have been in implementation. What will happen when Neptun Deep will start the production? The mass media mentioned that there are contracts concluded for the gas in the Neptun Deep, and such gas has to go somewhere.
The capacity is that which it is, and it should be auctioned for. Yes, you said that there is a high request for such capacity. Yes, high request for such capacity. We have projects with a long implementation period, not when the other party has an interest in booking capacity for one year. So it should be a longer duration. This is why such incremental capacity projects are built. Only if you test the market interest for 10, 15 years, and we didn't have such an interest.
This is why, of course, there are other principles taken into account. Things you should take into account, but if the process, incremental capacity process is transparent, well, the capacity was not contracted in a binding way to ensure a commitment. Practically, the interest should come from other parties as well, not only from the ones who will operate Neptun Deep. We have to take into account those who are interested in booking capacities. The operator has the obligation to make available capacity. It is a transparent process, a transparent auctioning process. On the interconnection points, the European regulations are applicable.
Everything is transparent, but we do not build capacities for a certain molecule, for a given molecule. Yes, I understood. Regarding this acquisition, I mean this procurement, Petrostar, before being interested, have you had any experience? Have you worked with them? Were they suppliers for any services you used? Yes, they were suppliers for most of the compressor stations we commissioned, the ones related to BRUA and Iași-Ungheni. So they were one of your suppliers. So this is a sort of an in-housing. Well, they have a very good capacity, a very good know-how, good capability for design know-how.
In Romania, they are the only ones they represented the only design institute for the oil and gas industry. They have extraordinary capabilities. That was all from me. Thank you. Are there any questions?
Yes, I would have an additional question. Dana Mândru from Swiss . An additional question from me regarding regulated asset base. Where do you see the regulated asset base at the end of the following regulatory period in terms of its size? It's difficult to answer at this point. I think you have materials.
Yes, we are modeling. We know, but it is difficult for me to tell you such a value now at this moment. But would it be possible for you to organize a meeting with all the analysts in which, for example, to explain to us the mechanism? Yes, we can explain to you the mechanisms and the main assumptions taken into account when modeling the following regulatory period. Would it be possible to organize such a meeting? But you have a model, an Excel model template published on Transgaz's website. Let's check if there is one for the following regulatory period. There is a template so as to calculate for the following regulatory period. And there is no such a template.
It would be published together with the tariff. You'll have clarity so as to calculate. But there are assumptions and assumptions. Yes, we work with assumptions. If I can intervene just for a second, I agree with Mrs. Daniela. We have colleagues from other companies, including with state-owned companies who organize such sessions, helping sessions for analysts because it is not always clear. You are over-competent and we know what you deal with. We are working with many companies and it's difficult for us to have clarity. It would be wonderful for us to have such a meeting.
Thank you, Caius. Of course, we'll think about it and come back with a reply. Yes, we can organize such events for the presentation of the mechanism. I'm not clear if I can present figures for the following five years, but we'll analyze internally and come back with an answer. Maybe it would help. Okay. Thank you very much. Thank you too. If there are any other further questions.
It appears that there are no other questions on chat as well. Okay. Thank you very much for attending. Thank you, Aziel, for your interest, and we are looking forward to meeting you at the next event that we discussed about previously. Thank you very much. Have a nice day. Goodbye.