RTRS:PGNiG says gas price impasse hurts bottom line
WARSAW Jan 18 (Reuters) - An ongoing tug-of-war over a higher gas tariff between Poland's PGNiG and the regulator URE is hurting the gas delivery monopoly's bottom line and may force it to curb investments, a PGNiG executive said on Wednesday.
"We are making several million in losses daily," Deputy Chief Executive Miroslaw Szkaluba told reporters. "We are not taking decisions on new investments, just continuing the ones already started."
He added the dispute could also affect its dividend payout.
PGNiG, which periodically spars over the regulated prices, asked for a hike in October, warning natural gas sales were beginning to generate losses.
But the regulator, facing a politically sensitive decision to allow higher prices for millions of Poles, has still to approve the request. It first asked PGNiG to lower its proposal and later requested further documentation.
URE was not immediately available for comment.
PGNiG shares were little changed at By 1049 GMT, compared to a 1.1 percent gain by Warsaw's main index. (Reporting by Maciej Onoszko; Editing by Hans-Juergen Peters)
