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

Silver at $75 and Why U.S. Silver Ounces Are Getting Hard to Find | Galen McNamara – Silver47

Higher Gold Prices Are Changing What Counts as a Real Discovery | Mike Bennett – Altamira Gold

Why Silver Still Hasn’t Seen the Real Mania | Craig Hemke

Recommended

Silver at $75 and Why U.S. Silver Ounces Are Getting Hard to Find | Galen McNamara – Silver47

Crossroads Gold Closes Rox-ex Acquisition, Adds Pambula and Club Terrace to Australian Pipeline

Related News

Coal Demand And Prices Continue To Soar; Yet Coal-Fired Power Is Still Cheaper Than Gas-Fired Electricity

Remarkably, in a world where dire warnings of the impact of climate change are issued...

Monday, July 25, 2022, 03:58:00 PM

Global Energy Crisis Continues To Grow; May Not Be Too Late for Investors to Increase Their Exposure to Energy Plays

The global energy crisis seems to grow more acute each day, and the effects of...

Wednesday, October 13, 2021, 03:39:00 PM

Poland Also Wants Canadian LNG Exports, But Trudeau Won’t Budge

In a recent interview with CTV’s Question Period host Vassy Kapelos, Polish President Andrzej Duda...

Monday, April 29, 2024, 12:53:00 PM

France Sets Price Increase Caps For Household Gas And Power

French Prime Minister Elisabeth Borne on Wednesday announced that price increases for gas and electricity...

Thursday, September 15, 2022, 11:44:00 AM

Anglo American Faces Months-Long Shutdown at Major Coking Coal Project

Anglo American Plc‘s (LON: AAL) Grosvenor underground mine in Queensland, Australia, has been halted due...

Wednesday, July 3, 2024, 09:42:35 AM