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Polish energy firms need to focus on investments rather than dividends

TAG'S: Energy


Poland wants state energy companies to focus primarily on carrying out large-scale investments rather than paying dividends, deputy Energy Minister Grzegorz Tobiszowski told reporters.

"The priority for us is to carry out large investments, we do not expect energy companies to fixate on profits," Tobiszowski said. "We want them to be profitable but we have to prepare large-scale investments."


"We do not want energy companies to be a mere financial supply base for the state budget," the official stressed.


Comments follow word from Energy Minister Krzysztof Tchorzewski, who in a Monday interview for daily Dziennik Gazeta Prawna said Poland must seriously consider excluding its power sector from "dividend option," in view of significant investment needs.


The Treasury Ministry is currently running adequate analysis "but no decisions have been made" so far, the deputy Minister said, when asked if limitations in dividend payments could apply already this year.


Tobiszowski believes changes in approach to dividends "should not scare investors off because it is not against their interest - thanks to the investments, companies will increase their value."



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