Polish Office for Competition and Consumer Protection has concluded that joint foundation of a company by PGE, KGHM, Tauron and Enea will not hinder the freedom of competition in Poland.
The first NPP in Poland is planned to come online in 2025. PGE EJ1 has been created as the special purpose vehicle and put in chargé of preparing the investment process, conducting site characterization work and, eventually, constructing the new NPP. PGE EJ1 has been called into being by PGE Capital Group who will sell 10% of its shares to Tauron, Enea and KGHM each.
The analysis run by the Office showed that such concentration of capital will not hamper the freedom of competition on the Polish energy market. Electric energy to be generated in the new plant will not exceed 7% of the overall Polish energy output and will not therefore significantly boost PGE, Tauron and Enea’s standing on the energy generation and energy trading markets. All entities will continue to produce energy independently and from other sources than the nuclear.
In compliance with the regulations in force, the transaction must be submitted for approval by the anti-trust and anti-monopoly office if the joint turnover of the entities who intend to conclude such transaction exceeds one billion euros globally or 50 million euros in Poland.
If entities fail to conclude the transaction within 2 years from its approval by the Office, the approval granted expires.Source: UOKiK
