December 21, 2018 / 4:27 PM / a year ago

Poland plans tax cuts and cost savings to stop surging electricity prices

WARSAW, Dec 21 (Reuters) - The Polish government plans a cut in excise tax and cost savings at power companies as part of measures designed to prevent surging electricity prices next year.

The steps planned by the government and expected to be adopted by the lower house of parliament next week will help keep 2019 power prices at the level seen in the first half of 2018, Poland’s Prime Minister Mateusz Morawiecki told a press conference broadcast on public television.

Wholesale power prices in Poland surged earlier this year, mostly driven by rising coal prices and carbon emission costs, as Poland generates most of its electricity in polluting coal-fueled power plants. (Reporting by Agnieszka Barteczko, editing by Louise Heavens)

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