Electric power sector reform to cost PLN 600 bln says minister

The transformation of Poland's electricity sector will cost PLN 600 billion (EUR 132 bln), a minister said on Monday.

Jacek Sasin, the minister for state assets, said his estimate concerned only the most basic investment projects without accounting for rising energy costs or expenditures connected with the EU's 'Fit for 55' programme, which aims to reduce net greenhouse emission by 55 percent by 2030.

"This is a huge challenge ahead of us, but we are determined to follow this path, because we understand that such are the demands of the future," said Sasin.

"We understand.... that it is in our interest to build an energy mix to enable Poland... to remain competitive and provide safe, cheap, clean and reliable energy."

He added that in keeping with the energy transformation plans, Poland intended to develop renewable energy and nuclear power.