In an interview with DGP during the second edition Competitiveness & Security Business Summit, flagship event organized in Brussels by Business & Science Poland, Igor Muszyński reminds that Orlen is a company with a broad business profile: not only an industrial producer, but also an important player on the chemical market, supplying fertilizers and substances necessary for the functioning of many other sectors of the Polish economy. This scale of operations poses numerous regulatory challenges.
Challenges and costs of transformation
Igor Muszyński points out the biggest problems the company will have to face in the near future. Very high energy costs come to the fore. Although Orlen is its producer, the director emphasizes that this is a systemic problem that affects the entire electricity industry.
He also pointed to the costs of broadly understood decarbonization. Igor Muszyński explained that they mean the need to carry out capital-intensive investments. They result directly from the objectives of the EU directive on renewable energy sources RED III, adopted on October 9, 2023 and implemented on November 19, 2023, in particular regarding the need to develop biofuels and increase their mandatory share in the total volume of fuels sold in Poland.
Igor Muszyński also explained effects of implementing climate directives in the strict sense. As he pointed out, the systematically decreasing pool of free emission allowances under the ETS system and additional burdens resulting from the entry into force of ETS 2 are factors that the industry must take into account and affect the rationality and time horizon of making decisions about new business investments.
Please watch the video.
