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Poland's state gas company lowers gas price tariffs

Poland's state gas company lowers gas price tariffs
Lower gas tariffs comes amid low oil and gas prices

Poland's President of the Energy Regulatory Office (URE) approved new lower gas tariffs for the country's state-owned gas company PGNIG, the office announced on Wednesday.

URE said that the average price of gas to be paid by wholesale customers, meaning resellers and end consumers with an annual consumption in excess of 25 million cubic meters, has been reduced between 8.3 percent and 9.5 percent from the current prices.

"The downward revision in gas prices follows from the persistently low prices of crude oil and natural gas across wholesale markets in north-western Europe, which has brought down PGNiG’s total gas procurement costs," said URE.

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