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Conditional approval of the PGE-EDF transaction by the UOKiK (Poland)

The Polish competition authority (UOKiK Urząd Ochrony Konkurencji i Konsumentów) has awarded conditional approval for the acquisition of EDF Polska's assets by the Polish state-run utility Polska Grupa Energetyczna (PGE), stating that the transaction does not jeopardize the competition principle. However, some conditions have been imposed on PGE, which will have to sell all the energy generated by the Rybnik Power Plant on the Polish stock exchange in 2018-2021.



Besides, the UOKiK's decision is not final and applicants are still entitled to appeal to the Court of Competition and Consumer Protection (Sąd Ochrony Konkurencji i Konsumentów).



The PZl4.5bn (about €1.05bn) deal was signed by EDF and PGE back in May 2017 and encompasses EDF Polska's 3.3 GW of installed capacity in Poland, namely the 1,775 MW coal-fired Rybnik power plant (Silesia) and four CHP power plants in Gdańsk, Gdynia, Cracow and Toruń. Besides, PGE has acquired EDF's 50% stake in Kogeneracja SA, which owns another four CHP plants in Poland. The assets generated 12.4 TWh in 2016. With the acquisition, PGE will strengthen its leading position on the Polish electricity market; it will more than double its power generation capacity from the current 3.55 GW up to 7.57 GW.

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