Energy In Brief: EuRoPolGaz Q1 profit; PSE-Operator; Energy Bill

EuRoPolGaz, which operates the Polish part of the Yamal gas pipeline, ended Q1 with a profit of zł.138.2 million on revenues of zł.412.5 million. In 2003 the company made an annual profit of about zł.580 on revenues of zł.1.59 billion. (Puls Biznesu, p. 6) ... PSE-Operator, which will take over the duties of power delivery from July 1 from the National Grid (PSE), will operate for approximately six months without its own network, due to unfavorable VAT and income tax law. PSE-Operator fears that the only solution might be an amendment to the tax law. (Puls Biznesu, p. 11) ... The new draft energy bill brings envisages at least one major positive change for power stations, namely the possibility to earn, instead of operating on a non-profit basis. However, is still a long way from making investments in energy companies profitable. If Marek Belka's government wins its vote of confidence on Thursday, the Sejm will vote on the bill either in July or after the summer recess. (Parkiet, p. 5) D.W.