Polish nuclear plant reportedly facing freeze

By bne IntelliNews September 22, 2016

Poland's project to build the a first nuclear power plant looks to be facing a trip to the deep freeze, local media suggested on September 22. The speculation comes on the back of reports that up to 70% of staff at the company carrying out the project, PGE EJ1, are set to be cut.

The reductions in personnel, as well as cuts in the company’s other budget items, reflect growing conviction in the Polish government that a nuclear plant will not be a vital addition to Poland’s energy mix for decades to come, Rzeczpospolita reports.

The project has already suffered several years of delay, as is the case with nuclear dreams across Europe. However, it is Warsaw's focus on coal that appears to be behind the plan to shutter the scheme.

Poland may return to the nuclear power project once production of coal - from which over 80% of energy in Poland is produced - begins to fall, the newspaper suggests. The government has pledged to tie the struggling mining sector to the country's state-controlled utilities to prop op demand. PGE EJ1’s mother company PGE was pulled into investing new coal mining group PGG earlier this year.

Poland has coal deposits that will last for decades. Warsaw has recently asked the European Commission to help finance new coal-fired power generation capacity, in return for ratification of key agreements to combat climate change.

The original target date for the first unit at the nuclear plant to go online was 2020. That was later delayed to 2025, and then to around 2029, because of problems with determining location and financing.

Related Articles

Hungarian PM's "proxy" moves into the nuclear industry as Paks tenders approach

Firms controlled by Hungarian oligarch Lorinc Meszaros have purchased a 51% stake in the Hungarian subsidiary of Czech nuclear ... more

CEZ set to place Czech nuclear assets in new unit

Czech state-controlled energy group CEZ is set to place all nuclear-related activities into a new division, local media reported on May 17. The move raises speculation that the company is ... more

TAP suspends work on Albania pipeline after uncovering ancient settlement

Trans Adriatic Pipeline (TAP) AG company, which is in charge of the construction of the TAP gas project, has temporarily suspended works on the pipeline near the Turan village in Korca in 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