POLISH COAL MARKET MIDWEEK SUMMARY 44/2016

EDF is desperate to sell Rybnik power plant to Czech EPH, but the Ministry of Energy is blocking this sale using the new protectionism law, which makes the transaction conditional from the approval from Polish government. Same goes for their heat plants and other French company Engie (former GDF) with their Polaniec power plant. EU Commission is already starting to ask questions…

Polska Grupa Gornicza had 364m PLN of loss by the end of September, with great majority of that amount being loss on the coal sales. Minister Tobiszowski says, that at the moment the negative variation from the business plan is estimated for 10-15%, but the increased loss was predicted already in summer.

JSW’s unions with stubbornness typical for them are fighting for Krupinski mine, which in their own minds should still keep on working, despite the fact that no one will be in fact fired and some of the infrastructure (logistics) will not be shut down. Since moving Krupinski to SRK was one of the conditions of the agreement between JSW and the debtors, it is crucial that gentlemen for the unions realize quickly that the only option here is (as minister Tchórzewski said and impressed us for the first time in a long period): either Krupinski or JSW.

Advertisements