Competition watchdog approves nuclear power joint venture

Poland’s Office of Competition and Consumer Protection (UOKiK) has approved the establishment of a joint business entity by utilities PGE, Enea and Tauron with copper giant KGHM, the watchdog said in a statement on Thursday. The purpose of the firm, PGE EJ 1, is to supervise the construction of Poland’s first nuclear power plant. The agreement settling stakes in PGE EJ 1 was signed in early September. PGE will hold 70 percent in the SPV and the other companies will hold 10 percent each. The construction of Poland’s first nuclear power unit is scheduled to be completed in 2025.