Poland will likely achieve its 2020 greenhouse gas emissions and energy efficiency targets, but may fall short of its target of supplying at least 15 percent of its final energy consumption from renewable sources, Moody’s stated in a report.
Poland remains one of the most carbon intensive countries in the EU with a strong commitment to coal but has started to signal that its importance may reduce over time. Nonetheless, the update to the country’s National Energy Plan is still awaited.
“Poland’s June amendment to the Renewable Energy Act should stimulate construction of renewables capacity and bring Poland closer to its goal,” said Helen Francis, Vice President and Senior Credit Officer at Moody’s.
Electricity demand in Poland in the last 15 years has grown at a much slower pace than gross domestic product (GDP), reflecting a shift towards a less energy-intensive economy.