Regulator cool on PGNiG gas price hike bid
Polish gas monopoly PGNiG has filed for an increase in gas prices that the local energy market regulator believes is unjustified.
Daily Dziennik reported that PGNiG had filed for a 30% hike, citing rising gas import prices, but that the watchdog said there was no reason to allow the change in tariffs.
“Since we approved the current tariffs this spring, according to the regulator there has been no occurrence that would justify another gas price increase,” regulatory head Mariusz Swora told Dziennik.
PGNiG has been losing money on the natural gas it imports, mainly from Russia, as its prices track rising oil prices. Imports account for two thirds of PGNiG gas sales.
PGNiG reported a worse-than-expected 14% drop in second-quarter net profit on Wednesday. (Reuters)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.