14:40 3 December 2024
Coal asset uncertainty hits energy stocks
State-controlled energy companies in Poland saw their stock prices drop following reports of a shift in the government’s coal asset strategy. "Dziennik Gazeta Prawna" cited anonymous Civic Coalition politicians discussing a proposal to create a German-style coal commission. This body, including company representatives, unions, NGOs, and local governments, would negotiate a timeline for shutting down coal blocks and mines.
This approach contrasts with the PiS government's previously abandoned plan to establish the National Energy Security Agency for transferring coal assets.
Stock market reactions were negative: PGE shares fell 4.7%, Tauron 3.7%, and Enea 1.5%. Analysts argue gradual closures of coal plants could hinder PGE's renewable energy goals, Enea's prospects, and the market’s ESG ratings, while providing minimal financial relief.
(pb.pl)
