The English side were awarded a 20-0 victory and the Dragons hit by a suspended £10,000 fine when they called off the LV= Cup encounter between the teams at Rodney Parade on February 3.
The Dragons deemed the pitch unplayable after temperatures dropped as low as -8°C the night before the match was due to take place.
But because the home side hadn’t made alternative arrangements for the game, the LV= Cup organising committee found them to be in breach of competition rules.
However, following a hearing on the matter, an appeals committee declared the game should be recorded as 0-0 draw and reduced the fine to £5,000.
“We are obviously disappointed that the game against Saracens cannot be re-scheduled but we are pleased by the ruling of the Appeals Panel in this matter,” said Dragons interim Chief Executive Chris Brown.
Meanwhile, last Saturday’s two postponed Swalec Cup third-round ties between Ammanford and UWIC and Beddau and Swansea will now take place on March 3.
Both were called off last weekend because of waterlogged pitches with all four sides bidding to reach the last eight of the knockout tournament.
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