Poland: Gas price to increase in January

opublikowano: 08-11-2004, 11:11

Poland/Economy/Gas

Warsaw (Puls Biznesu) – On November 2nd, PGNiG, Poland’s gas and oil giant, submitted in the Energy Regulation Office (URE) an application concerning a new gas price for the period January 1st – February 28th. PGNiG does not want to admit the new prices mean increases. ‘We will be able to say more at the end of the ear’, Marek Kossowski, PGNiG CEO said. The reason for higher prices are increased prices for the gas imported by PGNiG from Russia. ‘They jumped by 15 percent compared with prices at the end of 2003. Forecasts say they will increase by further 30 percent in 2005’, Marek Kossowski added.

‘I would not like to reveal the increase. This is just the beginning of works over the new gas price’, Wieslaw Wojcik, deputy CEO of URE said. PGNiG, till very recently the gas monopoly in Poland, offers very low prices. No rival energy company from Western Europe is able to compete. Now that PGNiG is getting ready to its IPO in the middle of 2005, the price increase is a must.

PGNiG may raise gas prices once in a quarter when the increase amounts to 5 percent. Chemical producers are the largest gas clients, as well as steel and glass plants, and PKN Orlen fuel giant. In the chemical industry, 10-32 percent of costs are connected with gas prices. ‘There is no reason to increase gas prices for industrial clients. Oil prices are stable. Dollars got cheaper. Increases should concern individual clients who are still paying much less then their counterparts from EU’, Zygmunt Kwiatkowski, ZA Pulawy chemical plant CEO said.

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