Economy
11:57 11 April 2024
Post by: WBJ

Ministry's Remarks Cause Market Drop

Ministry's Remarks Cause Market Drop
Source: Shutterstock

The Ministry of State Assets' statements caused a stir in the stock market, particularly affecting energy giants like Polska Grupa Energetyczna, Enea, and Tauron. Shares saw a significant decline, with the first two companies experiencing losses of approximately 10% after the Minister of Industry suggested that the concept of hard separation is outdated. Subsequently, the decline moderated to 7-8%. Minister Marzena Czarnecka outlined plans to restructure coal assets, hinting at assigning mines to individual coal-fired power plants. While details are pending analysis, the Ministry aims for a gradual separation of coal assets from energy companies, a move with implications for financing renewable energy and distribution network development. PGE President Dariusz Marzec expressed readiness for a "hard separation" of coal assets, emphasizing strategic coal extraction aligned with power plant needs.


Source: energia.rp.pl


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