Polish wholesale power prices to reach PLN 160-180 per MWh through 2022, according to Moody’s. The country’s fuel mix will continue to be dominated by coal and renewables growth will be restricted.
“Growth in renewables is expected to slow down,” said Joanna Fic, a Vice President and Senior Credit Officer at Moody’s. “This is because the potential for new onshore wind capacity development has been significantly constrained by the law and offshore technology has not yet been deployed in the country,” she added.
Fic also added that there is uncertainty regarding acceleration in the development of other technologies. Significant amounts of aging thermal capacity may need to be decommissioned into the early 2020s due to environmental requirements, posing a risk to the country’s security of supply.
The current one-year forward price is at PLN 174/MWh