Poland's PGE expects coal assets carveout to be completed in 2022

Poland's biggest utility, PGE Polska Grupa Energetyczna, expects the carveout of its coal assets to be completed in 2022, its chief executive officer said on Wednesday. The government plans to take over the coal assets owned by its utilities, except from hard coal mines, and then transfer them to a new state-owned company. "We assume that the process will probably be completed next year," PGE CEO Wojciech Dabrowski told a press conference.

Poland's biggest utility, PGE Polska Grupa Energetyczna, expects the carveout of its coal assets to be completed in 2022, its chief executive officer said on Wednesday. Poland relies heavily on energy from coal, but plans to increase the share of renewables in its energy output. The government plans to take over the coal assets owned by its utilities, except from hard coal mines, and then transfer them to a new state-owned company.

"We assume that the process will probably be completed next year," PGE CEO Wojciech Dabrowski told a press conference.

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