PGNiG saw competition watchdog UOKiK launch a proceeding to investigate if PGNiG's gas sales do not infringe the provisions of the act on competition and consumer protection, the daily Parkiet writes front page citing PGNiG spokesperson Joanna Zakrzewska. Our view: If PGNiG was proved to have breached regulation, it could face a penalty up to 10% of its revenues. As usual, visibility on how such investigation will eventually evolve is very low. Therefore, at this stage, we see the news as neutral.