With the merger of PKN Orlen and PGNiG, Poland’s newly formed energy giant will use nuclear, hydrogen, and other green investments to move the country towards a zero-emission future.
The new company will not only control the oil and gas market but will lead the way in terms of hydrogen-based energy. In addition, the merged companies will also invest in modular nuclear power plants, an investment critical to the path towards transforming the energy sector. This is clearly in the public interest at a time when the energy markets have been destabilized by the gas and oil oligopolies.
Those who criticize this merger misunderstand the aim and function of the move. Some see it as just a question of reducing costs, while others just don’t think Poland should be so ambitious on the international stage. But Polish companies are now often seen as being an example for Western companies rather than vice versa.
The new multi-energy company has the capital firepower to ensure Poland has the necessary energy sources, such as hydrogen, here in Poland. In addition, the company is Polish owned and therefore focused on Polish interests.
Poland seems to have learned its lesson from the financial crisis when most of the banks in Poland were foreign-owned and therefore focused on the problems in their countries of origin. It was only thanks to Polish banks that the country was saved from a wave of painful bankruptcies.
Where capital comes from matters. A professionally managed competitive company with domestic capital at its disposal is the best solution for the interests of the country and its economy. It will be a company with the necessary clout on the markets to ensure supplies.
There will be no turning back after this merger.
