Energy companies may have problems

Energy companies may have problems

Some energy companies may face the specter of bankruptcy. The reason is restrictions on energy prices, the Ministry of State Assets (MAP) warns.

A draft has been submitted to the Parliament, which provides for maximum energy prices for SMEs, local governments, sensitive entities and households. It provides for the application of the maximum price for, among others, those customers who concluded a sales or comprehensive contract after February 23 this year. Covered in such a case is to be billing for the period from the date the customers concluded the contract until November 30 this year. The Ministry of State Assets (MAP) notes that no compensation is envisaged in this regard. On the other hand, it is about partially already realized and planned sales in 2022.  At that time, costs have been rising strongly in the power industry.

Compensation will also not be possible for electricity sales contracts that have been concluded so far. Companies have already secured energy for them, mainly in exchange futures contracts with delivery for 2023.

MAP estimates that power companies will lose up to a dozen billion zlotys.  They will record losses on the difference between the costs from their contracts and the maximum price for electricity. This could lead to the bankruptcy of some of them.

Source: https://www.bankier.pl/wiadomosc/MAP-szacuje-na-kilkanascie-mld-zl-straty-spolek-obrotu-z-projektu-dot-maksymalnych-cen-energii-opis-8424721.html

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