Ministry of the Treasury to consolidate Energy Sector

The Ministry of the Treasury is considering merging Polska Grupa Energetyczna (PNG) with Energa and Tauron Polska Energia with Enea, according to two anonymous sources quoted by Reuters. The Ministry aims to create two utilities that will be able to compete with Czech's CEZ, the CEE region's biggest public company. Currently, the state owns a 58.39 percent stake of PGE, 30.06 percent of Tauron, 51.5 percent of Enea and 64.09 percent of Energa. PGE declined to comment. Energa, Tauron, Enea, and the ministry were all unavailable for comment, according to Reuters. Treasury Ministry Włodzimierz Karpiński said last week that he will publish guidelines regarding the potential consolidation this month. It’s not the first attempt to consolidate the energy sector. Few years back, PGE tried to acquire Energa, but the transaction was blocked by the antimonopoly watchdog UOKiK.