0:14 13 January 2022
Fit for 55 may cost Poland €189 bln
The Fit for 55 package increases the EU's emission reduction target for 2030 from 40 to 55 percent compared to the 1990 level. The legislation contained therein will increase the pressure to reduce emissions both in the energy-intensive industry and energy, as well as in construction and transport.
Bank Pekao experts checked how much the costs of introducing this package for Poland will increase. They also checked whether Poland would benefit from these provisions. They recognized that the costs will increase by a total of €189 billion by 2030 compared to the emission reduction plan by 40 percent. This number will be influenced, among others, by an increase in prices of CO2 emission allowances in the EU ETS. In addition, the so-called mini-ETS, i.e. the extension of the emissions trading system to construction and road transport.
As analysts say, this will translate into higher electricity and heat prices. So it will force the acceleration of the green transformation. Moreover, Pekao analysts indicate that the profit for the state related to revenues from the emissions trading system and EU funds supporting the transformation will amount to €149.9 billion (of which €34 billion in loans).
