Regulator cool on PGNiG gas price hike bid

Energy Trade

Polish gas monopoly PGNiG has filed for an increase in gas prices that the local energy market regulator believes is unjustified.

“We confirm that PGNiG filed for a hike in gas prices yesterday evening,” said Agnieszka Glosniewska, the watchdog's spokeswoman. She gave no further details

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)


Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.