A.D. 2015: A YEAR OF EMPTY VICTORIES [PART 2]

After the first part, our Editor received a few emails with concerns around the word endsieg, which apparently is banned in the German Internet. We hope we won’t lose our German readers (9th position on Polishcoaldaily viewers origin stats). But now lets go back and check the other battles that happened the last year.

Battle 3: Soon after the strikes ended, Kompania Węglowa under a new command decided to reclaim some of the lost markets, including heating industry and foreign customers. To do so, the largest EU coal producer chose the soft option and decreased prices to the extremely low level. So low, that the competition (KHW and LW Bogdanka) were yelling for intervention from the State (which never came) and the importers and traders decided to limit their activities in Poland.

Result: KW indeed managed to get rid of some of piles-stocked coal and actually once again became a net exporter, but selling the coal way down bellow costs only deepened the crisis (today KW has 4bn PLN of debt). Also, Russian importers decided to bypass Poland with their coal deliveries and increase their presence on the markets that Poland wanted to reclaim.

Battle 4: Commotion over Brzeszcze mine. Like with Zagórowski’s departure presented in Battle2, once again miner’s labor unions stubbornness led to complete distortion of the true goal. Once promised to be moved to Tauron, unions decided to execute this engagement and blocked every other attempt to heal their facility (including the probably the best option of moving Brzeszcze to RSG, SPV formed by Tauron and Synthos, a private-owned company that needed both coal and methane from the mine). Their resistance was so hard and the election time so unfavorable, the owner decided to remove the whole Management Board just to meet their expectations.

Result: Brzeszcze fully became Tauron’s property on the last day of 2015. It cost the company losing two Management Boards, because in December also Jerzy Kurella lost his job (we guess it pays off to be bit flexible, but not to “gumby”). From all the battles this one was actually least bloody and we would like to wish the new CEO Remigiusz Nowakowski all the best and achieving his plan of fuel self efficiency at a level of 50-60%, but we cannot get rid of this feeling that somewhere in the whole disarray the best option (RSG) was trampled down.

Advertisements