In practice Elektrownia Północ is a project that, at the end of this year, will lack only one thing, a long-term power sales contract – says Zbigniew Prokopowicz, PEP chairman. He also mentions that currently the investor does not have the most important document, the building permit annulled on February 14th 2012 on the application of ClientEarth and Eko-Kociewie, but expects to regain it. In actual fact, the power plant’s situation looks much less optimistic but those interested in building it strategically pass over it in silence. Apart from building permit for the main investment, the investor lack two more crucial documents – building permit for water main and integrated permit. It is impossible to foresee when and if these documents are going to be issued at all which makes the investor’s narrative of success look more and more desperate.
Prokopowicz also made one more surprising remark on Elektrownia Północ. He sincerely admitted that the current prices of energy are too low to make it profitable. However, this unfavourable situation on the market does not stop the investors. Businessmen are hoping that the energy prices will increase in the next two years up to at least 220-240 pln/MWh which would guarantee ‘a reasonable return of capital invested’. In such case Elektrownia Północ might be either built as planned or sold with profit to other investors. The chairman does not mention what would happen if the energy prices fell or remained at current level but it may be assumed that it would mean abandoning the projects.

The PEP chairman not only confirms what has been already known – that today coal-fired power plants are unprofitable – but also reveals yet another big business’ shameful secret. The investor builds an unprofitable power plant in full knowledge and expects that it will be saved by rising energy bills paid by the citizens of Pomerania. Currently a whole range of technologies based on renewable sources of energy is at our fingertips, safe for people and eco-friendly. Their prices has steadily decreased and every Polish citizen can become a prosumer which means that they can produce energy in their own homes. Imposing dirty and expensive energy on people is not only uneconomical but ethically doubtful – comments Radosław Ślusarczyk from Association Workshop for All Beings and the Stop Elektrownia Północ campaign.
Polish Energy Partners (PEP) is taking over the assets of Polenergia Holding owned by Kulczyk Investments – the Elektrownia Północ investor. As a result of this operation a new entity will be created – Polenergia – which will obtain financing from the CEE Equity Partners, a fund which main investor is the Chinese Exim Bank.