Energetyka Południe was established yesterday. What objectives does the company have?

- Energetyka Południe will be a vertically integrated operational holding, combining mining, and the production, wholesale, retail and distribution of energy. The main objectives of EP include the rational organization of the capital group and sustainable relations between its affiliated companies. One of the principal aims of the Management Board will be to prepare the company for listing on the Warsaw Stock Exchange, GPW.

The consolidation has been delayed owing to resistance in the sector and negotiations concerning social agreements. Are these matters finally resolved in EP?

- At present, social agreements are in force in each of the consolidated companies, and adherence to their provisions was ensured by Management Boards, including the Management Board of EP. Regardless of that, social agreements will be negotiated, which is the will of the employees and the owner. I have to point out that new agreements should be concluded on terms and conditions that are not inferior to the current ones. Does that mean extended employees’ rights? For now it is difficult unambiguously to state that. We need to be reasonable and express mutual understanding in the process of negotiation. However, I am optimistic and think that we will find a rational compromise to satisfy both the owner and the staff sides, and to properly secure the interests of companies. Additionally, the government has passed an act on shares for employees, which will provide the employees of the consolidated companies with their shares.

Will EP be able to separate the network from its operational sales department before 1 July?

The process concerning the separation of OSD has many aspects, but is of key importance for the creation of a competitive energy market in Poland. Distribution companies outsource sales operations to their affiliated companies. This solution seems to conform both to European Community and Polish law and will serve companies well. Apart from that it has been acceptable to the employees. As for the time limit, we will make our best effort to succeed.

Could EP have its debut on GPW in 2008?

The time limit for privatization is a decision of the owner and is influenced by many factors. Privatization can provide large earnings for the owner and give the company necessary resources to implement large-scale investments. As a member of the Management Board I would say that we will do everything to be best prepared for the début in the shortest possible time.

[Parkiet]