Poland Defies Power Slump in $3.7 Billion Gamble: Energy Markets - Bloomberg:
"Poland is seeking to avoid a looming power shortage by forcing the nation’s biggest utility to build a $3.7 billion coal plant its chief executive officer says will be unprofitable after prices fell to a five-year low.
PGE SA, majority-owned by the government, can afford to expand the Opole utility in the southwest because it is making money elsewhere, Deputy Prime Minister Janusz Piechocinski told reporters in Warsaw on Nov. 6. Electricity prices need to rise by about 50 percent to make it viable, according to Krzysztof Kilian, the Warsaw-based utility’s CEO."
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