According to the author of the article unfavorable macroeconomic conditions, such as unusually low energy prices on the Stock Exchange combined with high expenditure on CO2 emission allowances and difficulties in finding a suitable buyer for all the energy at a satisfactory price, hinder the start of the investment. This results in further problems in finding financial institutions interested in financing this investment, the cost of which is estimated at 12-15 billion pln.
It was also implied that the complaints issued by environmentalists in February 2012, which led to reversal of the decision of the Wojewódzki Sąd Administracyjny in Gdańsk on granting building permit for the North Power Plant, were partially responsible for the delays.
The publication of the article coincides with a resolution adopted by the Pelplin Municipal Council in which its members express their concern at the lengthy procedures and appealed to all the institutions, local authorities, organizations, media and decision makers for support and intensifying efforts to speed up the decision-making process of this investment of strategic importance for the region.
The Pelplin Municipal Council seems not to notice the economic problems of the investment. No appeals to speed up the construction of the North Power Plant will solve the problem of its unprofitability and dwindling possibilities of its completion.
It is worth noting that the new policy of the European Investment Bank eliminates the possibility to grant loans for the largest new coal power plants in Poland. In 2012 the Nordic Investment Bank has also adopted guidelines that rule out financing new coal power plants of more than 50 MW capacity.
The strategic decisions of the leading European investment banks indicate that financing coal-based investments is going to be increasingly difficult.