Polish Briefing 9 December, 2022 7:30 am   

Polish Briefing: “Poland can become Europe’s hydrogen granary” | NBP warns against “Budapest in Warsaw” and promises lower inflation in 2023


WHat goes on in Poland on the 9th of December.

Zyska: Poland can become Europe’s hydrogen granary

– Poland can be the energy breadbasket of Europe by storing energy in hydrogen. The analysis of geological structures shows that salt caverns have the potential to store energy in hydrogen at the level of 10,000 TWh – said Deputy Minister of Climate and Environment Ireneusz Zyska during the Conference of the Parties to the Sector Agreement for the Development of the Hydrogen Economy.

During the opening speech, the Deputy Minister of Climate and Environment pointed out that the sectoral agreement for the development of the hydrogen economy is a unique form of cooperation and the first such agreement in the entire European Union.

– A common vision of the possibility of using hydrogen based on the Polish contribution will translate into strengthening the competitiveness of the economy. An element of building a hydrogen economy are also hydrogen valleys, which are a factor that allows the construction of a value chain – said Zyska.

The deputy minister also added that we have experienced breakthrough moments for the global economy many times, especially when new solutions replaced less effective old technologies.

The Government Plenipotentiary for RES, Ireneusz Zyska, also pointed out that currently the Ministry of Climate and Environment is creating legal regulations for the production of the so-called green hydrogen.

NBP warns against “Budapest in Warsaw” and promises lower inflation in 2023

The National Bank of Poland (NBP) criticizes the freezing of fuel prices in Hungary and assures that inflation in Poland in 2023 will be lower.

-We are currently seeing a disinflationary trend. We are talking about our main economic partners here. This will also have a positive impact on us in the near future. Still in January and February, there may be an increase in prices due to the change in regulated prices, admitted NBP President Adam Glapiński at a press conference regarding the reintroduction of excise duty and VAT rates on energy and fuel after the anti-inflation shield is lifted at the end of the year.

– The government is doing everything to make this increase the least painful. We see what is happening in Hungary, where fuel prices have been frozen. After a few months, the government was forced to change this bad regulation, which will lead to a situation in which Hungary will become the country with the highest inflation in the entire European Union. Within one day, fuel prices increased by PLN 2.5 per liter. Intervention in the market must be careful and delicate so as not to lead to a situation like in Hungary, Glapiński said. – From the end of the first quarter, inflation will fall steadily and rapidly. And this process will be noted not only in Poland. This will happen in places with a free market economy. The inflation in Poland is not the highest.