Specialists note here that even a bold restructuring measures do not give a guarantee of repayment of the whole almost 8.5 billion euro debt Coal Company, and the state will continue to engage in mining resources – eg. for decommissioning of mines and social protection for miners.
the industry could also relieve postulated by the mining environment system solutions, such as the reduction of VAT on coal, but this would be another activity meaning public support.
“in the short term can not count on the increase in coal prices on the world market, and the reduction of extraction costs below the level for which you can buy today coal in Western European ports, it is unrealistic. However, the key is the focus of investment, to strive for maximum cost savings “- suggests expert. Fuel and Energy, National Chief Geologist and Deputy Minister of Environment in the years 1990-1995, Dr. Michael Wilczynski.
in the first months of this year, the price of coal with higher calorific value of Polish was in Western European ports approx. USD 45 per tonne, while Polish extraction costs of 65 USD t. Although this has no direct impact on the price at which buys Polish coal energy, shows the gap between the national mining of the realities of the international market.
Dr. Wilczynski points to the need to focus investments for the extraction of coal in the most cost-effective mining walls; This means the liquidation of inefficient and hence – the closure of the biggest loss-making mines; Coal Company in the worst of them brought in last year, more than 120 zł losses on each tonne of coal. According to the expert, the future is uncertain 5 of 11 mines transferred from the Company to PGG, which – in his opinion – is not enough to combine plants in mines complex; needed is to eliminate inefficient parts of mines.
Also prof. Andrzej Barczak, an economist at the University of Economics in Katowice, there is no doubt that the current structure of the company can not be preserved, and unprofitable capacities should be gradually discontinued – both in order to reduce the oversupply of coal on the market and not to mine coal in heaps, and after is to achieve profitability and stabilize the company.
“Now everything in the hands of the board of PGG – or will have the skills and courage to carry out the actual changes, enrolling company in the realities of the market economy, and that will have permission from the owner, or the government, for such actions, “- said the professor. Barczak, according to which – in a negative scenario, in the absence of further restructuring and “overfeeding” of money from investors – for about two years the problem of declining mines can return.
the need for informed and rational investment in mines, financed from funds contributed by investors to PGG, also notes Deputy Chairman of the Mining at the Ministry of the environment, b. the president of the State Mining Authority in 2006-2008 Dr. Eng. Peter Buchwald. In his view, the investments must be planned so as to be able to extract coal in the most cost-effective locations, and at the same time that it was the coal to the needs of the market – with a particular mine, for a specific recipient.
According to Dr. Buchwald, the planned creation of mining complex should serve just build a more effective, more efficient and lower cost structures; through coherent string technological costs of coal production should decrease and performance – to grow. “If we add to this, among others, measures aimed at relieving the mining industry with a variety of costly procedures, we are working in the Mining Council, we can count on the fact that PGG will design a healthy and stable business “- rated Buchwald.
in his view, the costs of restructuring the mining industry should suffer not only because of the social costs associated with the consequences that would bring the bankruptcy of the industry, but also in the name of ensuring the energy security of Poland – the fact that 85 percent. produced in Poland’s energy comes from coal. Buchwald said that should work and implement efficient technologies more efficient and clean burning of coal.
For Professor Barczak Katowice with the EU concept of energy security is not a leading question for the outlook for PGG and whether the company has a chance to become fully market, profitable enterprise. “The economy has to account economic and energy security is not directly countable for the money – a populist notion. The project can succeed if it will be more market and less politics, “- said the professor. Barczak.
Dr Michael Wilczynski indicates that even the investors PGG, composed of entities related to the State Treasury , proves that the basis of the project are political decisions, not business – the more that investing in mining energy has its own serious problems associated with the necessity of rapid exchange of outdated production capacity, with falling energy prices and the increasing imports from countries where the current is cheaper.
“For now, the government has bought itself time; This time should be used for rational investments in the most profitable deposits, doubling the productivity, reduction and changes in the structure of employment, elimination of unprofitable mines and walls; Even if it succeeds, the chance that fail to pay off all debts Company, is close to zero “- rated Dr. Wilczynski, stressing that the recovery program for KW still has not gained final approval from the European Commission; the possible need to return public aid could cross out the effectiveness of corrective actions.
