State regulator intervenes in gas prices

Gas suppliers for households have failed to react adequately to developments in the European gas markets.

(Source: Sme)

The Office for the Regulation of Network Industries (URSO) believes that developments in gas prices over recent months show the need for further regulation of the sector in Slovakia, the TASR newswire reported on May 5.

Gas suppliers for households have failed to react adequately to developments in European gas markets because they haven't lowered their prices, according to URSO spokesman Radoslav Igaz.

Read also:Prices rose slightly in February Read more 

One of the market regulator’s key roles is to seek a balance between suppliers and consumers, but the current situation concerning gas prices in Slovakia shows who is getting the short end of the stick in this case. Therefore, URSO has decided that it needs to intervene and initiate proceedings concerning a reduction in prices for households, according to Igaz.

Igaz added that the body, which acts impartially and independently while exercising its powers, is thereby reacting to both current developments in gas prices in European markets as well as estimates of future changes. At the same time URSO stated that a specific price reduction will be announced as soon as the price proceedings are duly concluded.

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