ANL 28.17 Decreased By ▼ -0.63 (-2.19%)
ASC 16.76 Increased By ▲ 0.28 (1.7%)
ASL 23.95 Increased By ▲ 0.46 (1.96%)
AVN 91.66 Decreased By ▼ -0.16 (-0.17%)
BOP 9.71 Decreased By ▼ -0.11 (-1.12%)
BYCO 9.93 Decreased By ▼ -0.28 (-2.74%)
DGKC 113.50 Decreased By ▼ -0.70 (-0.61%)
EPCL 48.84 Decreased By ▼ -0.77 (-1.55%)
FCCL 21.66 Increased By ▲ 0.31 (1.45%)
FFBL 27.70 Increased By ▲ 1.21 (4.57%)
FFL 17.99 Decreased By ▼ -0.30 (-1.64%)
HASCOL 14.82 Decreased By ▼ -0.16 (-1.07%)
HUBC 86.45 Increased By ▲ 1.05 (1.23%)
HUMNL 7.35 Increased By ▲ 0.02 (0.27%)
JSCL 29.60 Decreased By ▼ -0.25 (-0.84%)
KAPCO 38.31 Decreased By ▼ -0.19 (-0.49%)
KEL 4.24 Decreased By ▼ -0.06 (-1.4%)
LOTCHEM 15.96 Decreased By ▼ -0.27 (-1.66%)
MLCF 43.55 Decreased By ▼ -0.52 (-1.18%)
PAEL 40.60 Decreased By ▼ -0.50 (-1.22%)
PIBTL 13.00 Decreased By ▼ -0.12 (-0.91%)
POWER 11.78 Increased By ▲ 0.67 (6.03%)
PPL 97.45 Decreased By ▼ -0.65 (-0.66%)
PRL 25.48 Decreased By ▼ -0.32 (-1.24%)
PTC 9.78 Decreased By ▼ -0.13 (-1.31%)
SILK 1.21 Decreased By ▼ -0.02 (-1.63%)
SNGP 46.49 Decreased By ▼ -0.30 (-0.64%)
TRG 97.38 Increased By ▲ 2.18 (2.29%)
UNITY 31.58 Decreased By ▼ -0.62 (-1.93%)
WTL 1.18 No Change ▼ 0.00 (0%)
BR100 4,856 Decreased By ▼ -11.74 (-0.24%)
BR30 24,507 Decreased By ▼ -1.43 (-0.01%)
KSE100 45,931 Decreased By ▼ -58.35 (-0.13%)
KSE30 19,110 Decreased By ▼ -68.04 (-0.35%)
Markets

Poland's PGG says coal mine closure plan unlikely to change despite EU climate targets

  • Coal trade unions, the government and PGG representatives held a new round of talks on Wednesday to discuss PGG's timetable that aims to gradually shut all its mines by mid-century.
  • Poland, one of Europe's biggest producers of coal, which is a major source of greenhouse gas emissions.
13 Jan 2021

WARSAW: Poland's PGG does not expect to change its timetable that envisages closing its coal mines by 2049 despite tougher European Union climate targets agreed in December, the state-owned company's boss said on Wednesday.

Coal trade unions, the government and PGG representatives held a new round of talks on Wednesday to discuss PGG's timetable that aims to gradually shut all its mines by mid-century. PGG's scheme was initially agreed in September.

Poland, one of Europe's biggest producers of coal, which is a major source of greenhouse gas emissions, relies on the fuel for almost 80% of its electricity production.

"Tightening the EU's emission reduction targets to 55% does not affect this timetable, although I am aware that there are public concerns that due to pressure from the EU this plan may accelerate," PGG Chief Executive Tomasz Rogala told Reuters.

Leaders of the EU's 27 member states agreed to cut net greenhouse gas emissions by at least 55% from 1990 levels by 2030, toughening an existing 40% target.

Speaking shortly before Wednesday's talks, Rogala said PGG's mine closure plan still needed approval from the European Commission, which critics say will be difficult to secure.

He said it would be optimal if the Commission's position was known in the first half of 2021.

A Polish official said in October that talks with the Commission seeking approval for PGG's plan would start "within days". But it is not clear if Poland has formally sought approval.

PGG reported a net loss of around 2 billion zlotys ($538 million) in 2020. Rogala said he expected this year's output to be about 24 million tonnes.