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Watchdog sets conditions for PGE's purchase of EDF's Polish assets
October 5, 2017 / 7:44 AM / 2 months ago

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

WARSAW, Oct 5 (Reuters) - Polish anti-monopoly office said that Poland’s biggest power firm PGE can take over the local assets of France’s EDF 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. ($1 = 3.6533 zlotys) (Reporting by Anna Koper; writing by Agnieszka Barteczko; editing by Jason Neely)

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