The Minister of State Assets has appointed a team to separate coal assets from energy companies owned by the State Treasury. For them, it’s a matter of survival, as it will rid them of the ballast and allow investment in energy transformation.
The previous government planned to create a National Energy Security Agency (NABE), which would take over coal assets from state-owned companies: PGE, Enea, Energa and Tauron. The reform, despite long discussions, did not come to fruition, and the law on this subject was blocked by a new parliamentary majority in the fall of 2023.
The new government is to continue the reform through the team in the Ministry of State Assets appointed by a decree of the Minister issued on May 9. It is supposed to support the Minister by providing analysis and cooperating with companies and creating recommendations for action. The meetings will be attended by a representative from the Ministry of Industry, the Government Plenipotentiary for Strategic Energy Infrastrcuture and relevant departments of the Ministry of State Assets.
State-owned companies support separating coal assets, as they are signalling problems with obtaining financing for investments in the energy transition, for example, PGE wanting to build offshore wind farms. This is because they have coal assets in their portfolio, which makes it difficult to get loans and insurance.
NABE was supposed to take over the coal assets to ensure supply security, by running unprofitable but necessary power plants that would operate with state aid. The previous team discussed this with the European Commission. The reform in the new edition may also require a notification.
Wojciech Jakóbik