Warsaw (Puls Biznesu) - The Energy Regulatory Office (URE) did not allow PGNiG gas monopoly to raise gas prices. Next year, prices should fall, URE believes.
URE did not approve of the proposition of PGNiG to raise gas prices on September 1st. The company said it is going to appeal. The gas monopoly has been negotiating with the regulator for several months now. The first offer, to increase prices by 12 percent on July 1st, was rejected on June 20th. PGNiG asked to be allowed to raise prices by 10.2 percent. The final project provided for 4.9 percent price growth. PGNiG estimates that it would mean monthly increases in bills paid by individual clients by PLN 0.4-6.86. However, URE rejected this application as well.
"I haven't found neither legal nor economic reason", Leszek Juchniewicz, URE CEO said.
URE analyses do not show that the prices of gas importer had grown by 5 percent.
"The prices will be only 0.9 percent higher than planned before, while the USD exchange rate will grow by 1.6 percent in the April-December period. The costs of imported gas will grow by 2.5 percent", Leszek Juchniewicz stressed.
PGNiG is not going to let it go this way.
"The tariffs today do not compensate for PGNiG the growing costs of imported gas. Today, the company sells the gas below its costs", Tomasz Fill, PGNiG spokesman said.
"PGNiG forgets that it earns money on selling the gas explored in Poland. The company had positive result of PLN 110m (EUR 27.8m) as far as the sales of the Polish and importer gas are concerned', Leszek Juchniewicz said.
PGNiG increased its gross income from PLN 528.1m in the first quarter to PLN 808.7m in the second quarter.
If the stabilization on the exchange rate and oil markets continues, the gas prices should be even lower than today, URE's CEO believes.
"The regulator has no instrument to make the companies lower their prices,
however", Leszek Juchniewicz admitted.
(PLN 1 = EUR 0.253)