GZE's cost-cutting and collection of client liabilities begin to pay off

Górnośląski Zakład Elektroenergetyczny (GZE), the largest independent energy distributor, posted an over zł. 37 million net profit in the first half of 2003, which is about zł. 20 million more than a year earlier. According to company president Piotr Kołodziej, the improved results are an effect of lowering costs, which are being cut by 10% in 2003 in comparison to 2002. "We are constantly improving the ways we collect money from our clients, and due to this their liabilities are decreasing," added Kołodziej. At present, GZE's clients arrears amount to about zł. 300 million. A positive signal is the fact that the decrease in energy consumption has been stopped, which was especially significant last year. "The request for new connections to our network is up, which signals that the recession is coming to an end," said GZE's president. The Gliwice-based company currently holds an 11% share of the energy market. (Rzeczpospolita, p. B5) M.M.