Polish Briefing 10 October, 2022 7:30 am   

Polish Briefing: PM Morawiecki proposes freezing ETS prices | “PGNiG-Orlen merger will not threaten state control over the gas fields”


What goes on in Poland on the 10th of October.

PM Morawiecki proposes freezing ETS prices

Prime Minister Mateusz Morawiecki participated in the unofficial meeting of the Council of the European Union in Prague. The topic of the meeting was energy and maximum energy prices in Europe. The head of the Polish government proposed freezing the prices of CO2 emission allowances at the level of EUR 20-30. This solution would reduce energy prices in Poland.

– Poland understands the needs of the climate policy, but today we are in a very difficult position. All of Europe is subject to enormous tensions over the war in Ukraine. We need to use those instruments that are in our hands, Morawicki told journalists of the Polish Press Agency.

– Today, for the benefit of the people, we need to release many CO2 emission allowances, it is best to introduce tens, hundreds of millions of allowances into the market. Let’s administratively freeze the price at 20-30 euros. Today I asked for a cap for at least six, if not twelve months, if not two years. Unfortunately, for the time being the European Commission remains deaf to these calls. This surprises me, because it is an instrument that is very quickly available. If the European Commission acted all Poles would have cheaper energy immediately – the prime minister continued.

“PGNiG-Orlen merger will not threaten state control over the gas fields”

– The merger of PGNiG with PKN Orlen will be of key importance for the development of the fuel and energy sector and will strengthen the energy security of our country. It will allow to increase investment opportunities and improve the negotiating position of the merged concern – we read in the press release. On October 10, an extraordinary general meeting of PGNiG will be held on the merger of both companies.

– The purpose of the merger is to create a strong multi-energy company that effectively competes on the European market and has the capital to implement large investment, research and development projects. The merger will translate into increased financial stability ensuring resistance to the ongoing market changes. It will also contribute to streamlining the process of achieving climate neutrality. As a result of the merger, customers will benefit from a broader and more integrated product offer, explains the company.