Polish Briefing 12 October, 2017 9:00 am   
Editorial staff

Polish Briefing: Finland washes hands in the case of Nord Stream 2. Fortum-Uniper takeover in process

What goes on in Poland on the 12th of October.

Finland washes hands in the case of Nord Stream 2. Fortum-Uniper takeover in process

Finnish government supports the takeover of German Uniper’s shares by Finnish Fortum in spite of the fact that the German company was engaged in a controversial project of Nord Stream 2.

Finnish minister of economy Mika Lintila stated that his government supports taking over 46,65 per cent of Uniper’s shares for $ 9,5 billion (€ 8 billion). Fortum is mainly interested in Uniper’s hydroelectricity and nuclear power plants. Apart from those projects, there is also Nord Stream 2 in company’s portfolio. The project of a new pipeline from Russia to Germany on the bottom of the Baltic Sea is supposed to receive € 950 million loan from Uniper. Similar declarations were made by other investors: Wintershall, Engie, OMV and Shell.

The pipeline will let Russia avoid Ukraine in gas deliveries, grounding its position in Central and Eastern Europe and undermining profitability of alternate projects like LNG Terminal in Świnoujście. Its proponents convince that it will make Germany a hub of Russian gas and will help ensure a new delivery volumes for Europe.

Tchórzewski: Sejm may handle the capacity market bill on this seating

– I do not exclude that Sejm will handle the capacity market bill on this seating – said the minister.

– I think there will be about 4-5 adjustments to the bill in Sejm – he added. Earlier on Wednesday Tchórzewski informed that the talks with European Commission about the Winter Package are moving forward and Poland has chances to receive derogations both in cases of general demands and capacity market.

When asked what matters are to be agreed with the EC, Tchórzewski responded: -There are still matters to talk about, we discuss foreign power shares.

EC suggests that public aid like capacity market should not concern generation units with over 550g of CO2 a MWh emissions, what practically excludes coal units. Poland counts on first derogations, that is delay of introduction of this demand and counting emissions of the whole energy sector in the country, not particular sources.