In April 2021, the Ministry of State Assets published a document entitled “Power-sector transition in Poland. Spin-off of coal assets from companies with a State Treasury shareholding” (“Transition Program”), which contains a concept for the spin-off from the energy groups of assets related to electricity generation in conventional coal-fired units (“Coal Assets”). The Transition Program’s assumptions include the integration of coal assets within one entity, i.e. PGE Górnictwo i Energetyka Konwencjonalna S.A. – a subsidiary of PGE S.A., which will eventually operate under the name National Energy Security Agency (Narodowa Agencja Bezpieczeństwa Energetycznego – NABE).
On 23 July 2021, ENEA S.A., PGE Polska Grupa Energetyczna S.A., TAURON Polska Energia S.A., ENERGA S.A. and the State Treasury signed an agreement on cooperation with regard to the spin-off of the coal assets and their integration within the National Energy Security Agency (annexed on 14 October 2021). The parties to the agreement see the need to coordinate their cooperation on spinning-off the coal assets and their integration within NABE. Under the agreement, the parties have undertaken to exchange essential information, including information pertaining to organisational structures, on-going processes and assumptions for the direction of the transition, the provision of which does not breach the law. The agreement will make it possible to efficiently and effectively implement the process intended to establish NABE.
On 15 November 2021, an agreement was signed between ENEA S.A., PGE Polska Grupa Energetyczna S.A., TAURON Polska Energia S.A. and KPMG Advisory sp. z o.o. sp. k. for the provision of strategic advisory services. The agreement was signed following a procurement procedure entitled: Strategic advisory (including legal and tax services) in the spin-off of coal-fired generating assets from ENEA S.A., PGE Polska Grupa Energetyczna S.A., TAURON Polska Energia S.A. and ENERGA S.A.
On 1 March 2022, the Council of Minister adopted the Transition Plan. NABE’s role will be to ensure energy security through a stable supply of energy generated from coal. The spin-off of coal assets will allow the energy groups to focus on accelerating their investments in low- and zero-carbon energy sources and transmission infrastructure and thus will make a sizeable contribution to the country’s energy transition.