Polish Briefing: PGE took over EDF’s assets to prevent hostile takeover

What goes on in Poland on the 14th of November.

PGNiG reduces its purchases in Russia

PGNiG reduces dependence to gas import from the East and diversifies sources of supplies to Poland – informed PGNiG’s vice-president for trade Maciej Woźniak while presenting PGNiG’s financial results for the third quarter of 2017.

During his speech, vice-president Maciej Woźniak pointed the raising diversification of gas import to Poland. Between January and September 2016, 90 per cent of imported gas came from the Eastern direction. After nine months of this year, this factor decreased to 71 per cent. In the same time, gas import from Western directions and LNG raised from 3 to 7 per cent and from 13 to 16 per cent.

Tchórzewski: PGE took over EDF’s assets to prevent hostile takeover. It is also an investment

During a press conference of Polish Press Agency, minister of energy Krzysztof Tchórzewski informed about reasons of a takeover of French EDF in Poland by Polish Energy Group (PGE). In his opinion, it was a movement aimed to prevent from a hostile takeover and start for further investments.

– PGE’s generation capacity will rise by 25 per cent, and heat generation will rise by 100 per cent, what proves the scale of the transaction. The group is a leader in heating sector, and it will face new challenges. – Strategic sectors in case of privatization may cause various disruptions. Buying the Połaniec power plant and EDF assets were transparent. It was done by the French government. However, if the sales go forward, the seller becomes open for market activities and wants to sell goods at the highest possible price – rated the minister of energy Krzysztof Tchórzewski.

Poland talks to Japan about nuclear power

A Japanese-Polish seminar dedicated to nuclear energy will be an opportunity for talks between the Ministry of Energy and Japanese companies, who could build a Polish nuclear power plant after winning the tender.

Talks with Hitachi GE and Mitsubishi will be held on the fringe of the seminar. Japanese companies are to exchange information with the Ministry of Energy. The meeting will have a special context of upcoming technologic tender, which, according to Ministry’s declarations, is going to be started at the beginning of 2018.

The plenipotentiary of the Polish government for energy infrastructure informed that the first nuclear power plant in Poland could be built on the beginning of the next decade. – This could be the year 2030-2031 – said in the interview for Polish Radio. – The date of energy strategy announcement is delayed because of parallel words, on capacity market amongst others. The strategy depends on it. There will be a place for nuclear power – ensured minister Naimski in an interview for BiznesAlert.pl.