WARSAW, March 22 (Reuters) - Poland’s energy market regulator URE approved on Friday lower electricity distribution tariffs for 2019 but turned down requests from energy firms to hike power prices after new legislation imposed a price cap.
Parliament approved legislation in December to cap power prices for households and big consumers at the level seen in mid-2018, helped by lower taxes and fees. The law said power companies would be compensated for related losses.
URE has criticised the move, saying it undermined its role as regulator.
The regulator said it had approved a 4 percent cut on average in 2019 power distribution tariffs for the five operators in Poland, which it said would translate into lower electricity bills for households.
It also said that, as a result of the legislation, it was now “pointless” to consider energy company requests related to 2019 household power prices.
Reporting by Agnieszka Barteczko Editing by Edmund Blair