In Poland, People Are Lining Up For Days To Stock Up On Coal For The Winter

Dozens of cars and trucks are lining up at the Lubelski Wegiel Bogdanka coal mine in Poland, many of them waiting for days and nights, to stock up on heating fuel ahead of winter. 

3.8 million households in Poland use coal for heating. These households, like many of Europe’s, are facing shortages and price hikes, following the country’s ban on Russian coal in April after Moscow’s unprovoked invasion of Ukraine in late February. 

The Central European country produces more than 50 million tons of coal from its own mines yearly, and typically sells mostly to powerplants. Its households generally rely on imported coal, much of it from Russia, because of the lower prices and because the quality is more suitable for home use.

Last year, 8 million of the 12 million tons imported from Russia were used by households and small heating plants.

Unlike the European Union’s Russian coal embargo which took effect in August, Poland’s ban went into immediate effect, resulting in shortages.

Back in July, Poland ordered two state-controlled companies to buy 4.5 million tons of the fuel from other, faraway producers in South Africa, Indonesia, and Colombia to supply households. In August, the government introduced a subsidy scheme that allows each household to apply for one-time assistance worth 3,000 zlotys (US$634) to help pay for coal after it failed to cap retail prices.

Via Financial Times

Information for this briefing was found via Financial Times, Reuters, and the sources and companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

PMET Resources: Lithium Feasibility Study Sees Economics Tumble

Gold Is Not Rising. Confidence Is Collapsing | Todd “Bubba” Horwitz

IAMGOLD: The Quebec Buying Spree

Recommended

First Majestic Silver Breaks Free Cash Flow Record In Third Quarter

Antimony Resources Sees Bald Hill Potential Double In Latest Technical Report

Related News

Fundamentals of Thermal Coal, Generally a Hated Commodity, Continue to Look Positive

The fundamentals for one of the world’s most scorned commodities, thermal coal, continue to improve,...

Monday, April 25, 2022, 03:35:00 PM

Coal Prices Bolstered By European Energy Crisis

So far, the year 2022 in the investment world may be best described as an...

Saturday, June 25, 2022, 03:05:00 PM

China Cuts Steel Output Over Environmental Concerns, Leading To Falling Iron And Coal Prices

Various media sources report that China, which produces just over half of the world’s steel,...

Monday, April 17, 2023, 07:33:00 AM

Europe Scrambles to Fill Storage Tanks with Russian Diesel Before EU Sanctions Take EffectB

European traders are quickly shoring up diesel shipments from Russia ahead of the upcoming EU-wide...

Monday, November 21, 2022, 01:45:24 PM

Poland’s Foreign Minister Demands Germany Pay $1.3 Trillion for WW2 Reparations

Poland’s resentment towards Germany is growing. Not only did Polish Defence Minister Radek Sirkorski thank...

Monday, October 3, 2022, 06:57:21 PM