POST Online Media Lite Edition



 

Watchdog sets conditions for PGE's purchase of EDF's Polish assets

Staff Writer |
Polish anti-monopoly office said that Poland’s biggest power firm PGE can take over the local assets of France’s EDF.

Article continues below






This is on condition that it sells most of the electricity generated by the Rybnik coal-fuelled power plant via the power exchange.

State-run PGE agreed to buy EDF’s local power and heating plants for 4.51 billion zlotys ($1.23 billion) in May in a move to increase its market share and give the state more control over the country’s utilities.

The deal, which is supported by Poland’s energy ministry, was unexpectedly questioned in September by UOKiK, which said that the transaction could undermine competition in the energy market.

EDF’s plants include eight combined heat and power plants and a 1.8 gigawatt (GW) coal-fired power plant in Rybnik, in southern Poland.


What to read next

SM Energy sells non-operated Eagle Ford assets for $800 million
LOT Polish and Turkish Airlines to cooperate more
Chesapeake Energy sells midstream assets