Enea, a Polish coal company, says its dividend policy is dependent on the future of coal assets and regulation

Enea must secure funding for large investments, and it needs to be clearer about the future of the coal assets and the market regulations before it can announce a dividend policy. This was the chief financial officer's statement on Thursday.

Utilities invest heavily in green energy to comply with EU regulations and reduce coal dependence. Enea plans to increase its green energy capacity from 0.5 GW at the end June to more than 0.8GW between 2024-2026.

Marek Lelatko, speaking at a recent conference, said: "We must invest, but we have to invest wisely, to build the renewables leg of the company. But to do this, we need money. We want to go back to a normal, healthy dividend policy.

"I hope the coal assets issue will be clarified within the next 12 months or so." The issue of regulation is another concern. This will help us plan our business and get back to a normal cycle for dividends," he said.

Poland's previous government planned to separate coal-fired plants from state-controlled utilities in order to focus more on green energy and to encourage banks to refrain from financing coal-dependent firms.

The government is yet to announce a replacement for the plan that was scrapped in 2013.

(source: Reuters)