UK Markets closed

Poland's PGE expects coal assets carveout to be completed in 2022

·1-min read

WARSAW (Reuters) - Poland's biggest utility, PGE Polska Grupa Energetyczna, expects the carveout of its coal assets to be completed in 2022, its chief executive officer said on Wednesday.

Poland relies heavily on energy from coal, but plans to increase the share of renewables in its energy output. The government plans to take over the coal assets owned by its utilities, except from hard coal mines, and then transfer them to a new state-owned company.

"We assume that the process will probably be completed next year," PGE CEO Wojciech Dabrowski told a press conference.

(Reporting by Anna Koper; Editing by Louise Heavens)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting