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The Warsaw Voice » Business » March 6, 2018
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Hard times for utilities
March 6, 2018   
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Polish listed utilities have suffered an overall 10% plunge last month due to fundamental factors such as a nearly 23% surge of CO2 emission rights prices, according to some analysts.
Power companies are also tanking due to robust investment outlays translating into little or no dividend payments as well as their prospective financial involvement in Poland's nuclear project, according to brokerage DM Raiffeisen Bank analyst Sobieslaw Kozlowski. Additionally some foreign investors may be replacing utilities stocks with shares of merger-bound fuel groups PKN Orlen and Lotos, brokerage Ipopema Securities analyst Robert May believes.
Utilities could rebound on potential news of their limited participation in the nuclear project and dispelled rumors of power sector consolidation, according to Marek Buczak of asset manager Quercus TFI.
Another likely positive factor is the expected end of CO2 emission rights price growth later in the year, May comments. Enea stock has the highest chance of bouncing back, he adds.
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