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Enea SAUPDATE: Coal-fired units owned by PGE, Tauron, Enea and Energa to become unprofitable in 2028
According to Polish government analyses, the operation of coal-fired units belonging to listed state owned power utilities PGE, Tauron, Enea and Energa will become unprofitable as soon as 2028, Poland's Ministry of State Assets (MAP) wrote in a draft government resolution repealing the spin-off of coal assets to National Energy Security Agency (NABE).
"The concept of integrating all coal assets from energy companies into a single entity, i.e. NABE, under current market conditions, is economically unjustified due to the lack of sources to cover the cumulative financial gap for the entire period 2025-2040, amounting to PLN 53.8 billion," the draft government resolution on repealing the previous government resolution providing for the establishment of NABE stated.
MAP added that, according to the analysis of the team responsible for the spin-off of coal assets from companies with State Treasury shareholding, the operation of coal-fired power units owned by energy groups with State Treasury shareholding, i.e. PGE, Tauron PE, Enea and Energa (as a subsidiary of Poland's largest energy concern Orlen), will become unprofitable as early as 2028 (measured as EBITDA).
"Due to the fact that the Polish government plays a key role in ensuring the country's energy security, it is therefore necessary to take immediate action to develop the most effective transitional mechanisms (in particular until nuclear power enters the national power system) and coordinate them with the European Commission," the statement reads.
jz/ map/ pat/ han/ nl/ ao/