Poland's incumbent gas player PGNiG says it is to appeal a regulatory decision refusing it permission to increase regulated tariffs for the third quarter of the year.

PGNiG wants to raise regulated gas tariffs by 12% to reflect increased wholesale imported gas costs and the impact of foreign currency fluctuations on its contracts, Platts reports.

The company says it will appeal against the URE’s decision to block the rise. Platts quotes PGNiG as saying: The decision declining the approval of the tariff change is unlawful since it does not take into account a significant change in the business environment the company operates in and forces it to carry out its core business activity, i.e. gas trade, at a loss.

Observers in Poland suggest that the regulator may permit a rise for the fourth quarter instead, Platts says.