The new EU pollution limits could cost Poland EUR2.3bn

Power plant in Bełchatów, Poland (Pibwl, CC BY-SA)

In Slovenia minimum pension will reach EUR500

Reform of Naftogaz Ukrainy

Poland

The Polish Radio reports on the new EU pollution limits introduced by the European Commission. They could cost Polish energy companies up to EUR2.3bn, as they will affect coal-fired power plants and large combustion plants. The units will have to adjust to the new limits by 2021.

The Polish Radio quotes Polish Deputy Environment Minister Paweł Sałek, who said that “modernising Poland’s power plants in such a short time frame could threaten Poland’s electricity supply”.

Poland and few other countries opposed the new plans of the European Commission, but the spokesman for the EC has commented: “Air pollution is the prime environmental cause of premature death in the European Union, about 400,000 annually”.

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Slovenia

Slovenian Parliament has adopted amendments to the Pension and Disability Insurance Act. According to the new law, Slovenian pensioners (only those who meet all requirements) will get a guaranteed minimum pension of EUR500. There are about 600,000 recipients of pensions in Slovenia. Novinite.com reports the new rules will apply to 45,000 Slovenians.

Slovenian pension system is based on three pillars, with the first pillar being a mandatory PAYG scheme. Slovenia’s current pension expenses amount to 11 per cent of the GDP, and are projected to increase to 18.3 per cent by 2050. The EU average is 10.6 per cent and is expected to increase to 12.8 per cent by 2050.

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Ukraine

Interfax reports on the process of reforming an Ukrainian joint-stock company, Naftogaz Ukrainy (Naftohaz Ukrainy), the oil and gas company. Volodymyr Kriston, deputy Prime Minister, informed that Ukrtransgaz – a subsidiary of Naftogaz – will transfer its corporate rights to a new entity, Trunk Gas Pipelines of Ukraine.

On November 2016, the Cabinet of Ministers of Ukraine decided to create PJSC Trunk Gas Pipelines of Ukraine – as an element of the reform process and division of Naftogaz Ukrainy, according to the types of activities. The whole process of reforming Naftogaz is run by a special group headed by Halyna Karp, the first deputy of the Energy and Coal Industry Ministry. One of the goals is to develop Ukraine’s gas transportation system and increase efficiency and competitiveness of the sector.

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What’s up in indexes

BET (of Bucharest) decreased from 8,220.10 index points Tuesday, May 2nd to 8,208.98 index points Wednesday, May 3rd. It’s down 0.14 per cent d/d and up 28.15 per cent y/y.

BUX (of Budapest) decreased from 32,902.62 index points Tuesday, May 2nd to 32,077.72 index points Wednesday, May 3rd. It’s down 2.51 per cent d/d and up 20.87 per cent y/y.

CROBEX (of Zagreb) decreased from 1,901.87 index points Friday, April 28th to 1,890.16 index points Wednesday, May 3rd. It’s down 0.65 per cent d/d and up 15.49 per cent y/y.

OMXR (of Riga) decreased from 823.41 index points Tuesday, May 2nd to 817.55 index points Wednesday, May 3rd. It’s down 0.71 per cent d/d and up 29.76 per cent y/y.

OMXT (of Tallinn) decreased from 1,127.55 index points Tuesday, May 2nd to 1,126.55 index points Wednesday, May 3rd. It’s down 0.09 per cent d/d and up 13.77 per cent y/y.

OMXV (of Vilnius) decreased from 580.87 index points Tuesday, May 2nd to 579.34 index points Wednesday, May 3rd. It’s down 0.26 per cent d/d and up 14.08 per cent y/y.

PX (of Prague) decreased from 1001.98 index points Tuesday, May 2nd to 996.29 index points Wednesday, May 3rd. It’s down 0.57 per cent d/d and up 11.11 per cent from year-end.

SAX (of Bratislava) increased from 312.94 index points Tuesday, May 2nd to 312.96 index points Wednesday, May 3rd. It’s up 0.01 per cent d/d and down 4.79 from year-end.

SOFIX (of Sofia) increased from 660.53 index points Tuesday, May 2nd to 664.71 index points Wednesday, May 3rd. It’s up 0.63 per cent d/d and up 50.63 per cent y/y.

UX (of Kyiv) decreased from 1,021.91 index points Friday, April 28th to 1,021.59 index points Wednesday, May 3rd. It’s down 0.03 per cent d/d and up 61.07 per cent y/y.

WIG20 (of Warsaw) increased from 2,376.87 index points Friday, April 28th to 2,392.09 index points Tuesday, May 2nd. It’s up 0.64 per cent d/d and up 25.92 per cent y/y. There was no trading on May 3rd.

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