PGE Group is Poland's largest energy company. Its transformation plan targets a 50% share from renewable generation and an 85% reduction in CO2 emissions by 2030. By 2050 it intends to have net zero CO2 emissions and provide 100% green energy to its customers. As with all nations around the world, and certainly in the EU, successful transitions depend on capital flows to the right sectors, signposted by policies and support. What does and does … [Read more...]
Will the Just Transition Fund deliver the Green Deal? [VIDEO]
![Will the Just Transition Fund deliver the Green Deal? [VIDEO]](https://energypost.eu/wp-content/uploads/2020/06/JTF-Event-02-150x99.jpg)
Last week 390 Energy Post readers registered for our latest online panel discussion sponsored by PGE Poland. Our speakers included Wojciech Dabrowski - President of PGE Poland, Aleksandra Tomczak of the European Commission's dedicated Green Deal cabinet, Henrike Hahn MEP for the Greens, Corinna Zierold of European trade union IndustriAll and Jerzy Buzek MEP, former Prime Minister of Poland and President of the European Parliament 2009 to 2012. … [Read more...]
Just Transition Fund: Poland yet to be convinced
Last month we learned of extra "Covid-19 recovery" funds to keep the Green Deal on an even keel. They included an additional €32.5bn for the Just Transition Fund (JTF). But is it enough? This is the question at the heart of our online event next week. The JTF is part of the Just Transition Mechanism (JTM) which, in turn, is the part of the Green Deal funding plan and is aimed at supporting Member States and regions "most affected by the … [Read more...]
Poland’s PGE: profits from Renewables can replace declining Coal’s
Poland’s PGE is one of Europe’s most fossil fuel intensive energy firms. Coal makes up around 90% of its electricity generation. It’s been investing around PLN 28bn ($7.2bn, €7bn) to build three new coal power plant units, acquire the Polish coal assets of France’s EDF, and upgrade its existing fleet to meet air quality standards. But a new and detailed report from IEEFA warns that the profitability of these investments will decline in the 2020s … [Read more...]
EU ETS Modernisation Fund: putting the wind in the sails of the Transition
Transforming the power system to reach climate neutrality by 2050 will cost approximately €100bn per year according to Eurelectric. In recognition of the different starting points for Member States, the European Commission has introduced the new EU ETS Modernisation Fund (MF) which could be worth as much as €25bn* to the beneficiaries between 2021 and 2030. According to Monika Morawiecka, CEO of PGE Baltica, offshore wind already makes business … [Read more...]
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