Poland's PGE expects to consult on new coal assets plan in Q4
11/09/2024 14:42
Sept 11 (Reuters) - Poland's largest energy provider PGE
PGE.WA should have the outlines of a new plan to spin-off its
coal assets in the fourth quarter, its deputy operations chief
said on Wednesday, after the new government cooled on the
previous one's proposal.
Under the previous government's plan, the units of
state-controlled PGE, Tauron and Enea that operate coal-fired
power plants were to be bundled into NABE, a new state-owned
company that would assume their debts. The plan was aimed at
easing the burden on the companies as coal assets become harder
to finance.
But NABE could pressure Poland's already stretched budget.
Earlier this month, state asset minister Jakub Jaworowski
called NABE "a somewhat nuclear option" and said the ministry
was considering a "middle ground" solution - analysing the
future of each power unit rather than considering the spin-off
of entire power generation subsidiaries.
"De facto, today we are taking a white sheet of paper", PGE
deputy chief operating officer Maciej Gorski told a press
conference.
"We hope that in the third quarter we will be able to work
out some concepts for directions. But it will be the fourth
quarter when we will deepen those concepts to the point where we
will be able to systematically consult them with stakeholders
from the government and the operator of the transmission
network," he added.
(Reporting by Tymon Miller
Editing by Mark Potter)
((Tymon.Miller@thomsonreuters.com;))