PGE intends to sell nearly all electricity through power exchanges 
7/22/2010 
 
PGE Polska Grupa Energetyczna will sell on commodity exchanges nearly 100 percent of its generated power, allowed for trade in the mode specified by the Energy Law. PGE intends to build a transparent and competitive energy market in Poland.

PGE intends to introduce nearly 100 percent of its generated power to the power exchange trade, in accordance with the mode specified in article 49 of the Polish Energy Law. The obligation shall be effective starting from January 2011.

It is PGE's intention to create a situation in Poland in which electricity prices are shaped on the Polish market as transparently as possible, similarly as it happens in the majority of other countries. No other energy group will have such a sale structure as us. We believe that as a result of the integration of energy markets in Europe and due to the rapid development of the Polish market, the existing system in Poland, including also PGE, will need to change – said Tomasz Zadroga, President of the Management Board of PGE Polska Grupa Energetyczna S.A.

The decision taken by PGE's Management Board is an element of the changes the Group has just been going through. This concerns especially the process of internal integration and the establishment of five strategic companies responsible for particular business segments. Having decided for the power exchange trade, and in consequence, for shaping electricity prices by the laws of supply and demand, the Group will need to pay even more attention to the efficiency of its operations. Thus, it will need to continue its restructuring.

We treat the new solutions as a strategic project for the company developed with business benefits in mind. We also want to show that we are fully transparent and we do not create a monopoly in the power sector  – added Tomasz Zadroga.

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