PGNiG submits natural gas tariffs proposal potentially raising prices 16%

Polish Gas and Oil Mining (PGNiG), the state-owned energy giant, has submitted a draft of new natural gas tariffs to the Energy Regulation Office (URE). If approved, the new regulations would prompt an increase in natural gas prices for private consumers by as much as 16%. Under current tariff rules issued by the Economy Ministry, prices of the fuel in Poland are already subject to increase every three months if world natural gas prices grow over 5%. This means the current price of natural gas, pending the approval of the new tariff proposal, this year alone could climb four times. The URE now has 30 days to decide whether or not to OK the draft. If endorsed, natural gas prices could be hiked within 58 days. (Rzeczpospolita, p.B2) J.K.