Proposed energy policy will cost EUR 70 bln by 2030 - EY at COP24

Carrying out energy policy in the form proposed by the Polish Ministry of Energy will cost approximately EUR 70 billion by 2030 according to an analysis by international consultancy firm EY presented at the COP24 climate summit on Thursday. EY presented its report 'Contribution of the Polish energy sector in the realisation of global climate policy' at the UN climate change summit in Katowice (southern Poland). The report, prepared for the Polish Electricity Association, claims that within the framework of the energy policy project (PEP) presented by the Ministry of Energy, by 2030 the cost of building new energy sources will reach EUR 30 billion, the modernisation of existing facilities a further EUR 30 billion and there will necessarily be further investment in transmission and distribution. However by 2040, just through the need to change the production structure, EUR 90 billion will be needed.