WARSAW: Poland may free up gas prices for corporate clients as soon as the first quarter of next year after a new gas trading exchange makes prices more transparent, the country's energy regulator URE said on Tuesday.
Poland controls prices corporations and private consumers pay for gas from state monopolist PGNiG. Corporate clients account for about 70 percent of total consumption.
"I hope that the gas exchange, which starts on Thursday, will help set a reliable reference price for gas," URE's head Marek Woszczyk told broadcaster TVN CNBC.
Poland, the European Union's largest eastern economy, is required by the EU to introduce free market rules to its 14-billion cubic metres (bcm) gas market.
The gas exchange, a unit of the Warsaw bourse, could help bring new entrants into the market. PGNiG is expected to be required to trade a certain amount of gas on the new platform.
Poland sits at a crossroads between eastern and western Europe and is working to tap vast shale reserves, offering future trading opportunities.
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