Poland's PGNiG cuts gas prices for businesses by over 19%
WARSAW, Jan 18 (Reuters) - Small and medium sized Polish companies will pay over 19% less for gas from Wednesday, as wholesaler PGNiG Obrot Detaliczny cut prices for businesses.
The move by the unit of Polish refiner PKN Orlen comes as mild winter weather and high gas inventories push gas prices in Europe down to levels last seen before Russia's invasion of Ukraine.
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Customers settling their bills on the basis of PGNiG's 'Gas for Business' offer will now pay 150 zlotys ($35) less per megawatt hour (MWh), the company said. The current price range for businesses is 761-793 zlotys per MWh.
Customers will not have to take any action for the discount to be applied, and it will remain in place till the end of March, the supplier said.
"PGNiG Obrot Detaliczny is monitoring the situation on the European markets," chief executive Henryk Mucha said in a statement.
"We are contracting gas with a long-term perspective, so a short term decline in market prices can't be always channelled to price cuts for clients." ($1 = 4.3362 zlotys) (Reporting by Alan Charlish and Marek Strzelecki; Editing by Kirsten Donovan)