Poland preparing new financing plan for nuclear power plant

By bne IntelliNews January 30, 2017

Poland will table a new financing plan for the country’s first nuclear power plant in the first half of 2017, Warsaw's energy minister said on January 30.

The nuclear plant project – planned to help improve energy security and perhaps reduce the country’s dependence on coal – have come into focus recently as Poland has admitted earlier ideas for financing have been scrapped. Energy Minister Krzysztof Tchorzewski said last week that the programme has been suspended, and that it could potentially be scrapped this year.

However, he told a conference on nuclear power on January 30 that he now hopes “a program for financing nuclear power will be presented [in the first half of 2017].” Poland had planned to use the 'contracts for difference' model to ensure financing, but now says that scheme is dead in the water and that it will work on a new mechanism.

The future of the project already looked precarious ahead of the elevation of Law and Justice (PiS) to office in November 2015. The new government was quick to state as it began its term that coal will remain the economy’s staple fuel, despite calls from the EU to lower emissions.

PiS is engineering the restructuring of the coal-mining sector, tying the largest coal company PGG to state-controlled utilities. PGG has turned in a profit for third straight month in December. Other coal companies await restructuring.

The International Energy Agency (IEA) said on January 25 that Poland needs to work towards creating a cleaner energy system that would meet environmental protection standards and also help guarantee energy security. A nuclear power plant would be instrumental in attaining that goal, the IEA said.

 

 

 

 

Related Articles

Poland signs up to LNG deliveries from US

PGNiG has signed a spot deal to buy LNG from the US, the Polish state-controlled gas company said on April 27. The purchase see US LNG arrive in Central & Eastern Europe for the first time, ... more

Bulgarian prosecutors investigate state energy regulator

The specialised anti-corruption unit of the Sofia city prosecutor’s office has launched an investigation into officials at the state energy regulator, currently called the Energy and Water ... more

Russia offers Latvian port a slice of the Nord Stream pie

The Latvian port of Ventspils has been asked to store and handle delivery of pipes for Nord Stream 2, the controversial Russian gas pipeline project, the chairman of the port said on April 20. The ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss