Utilities Fall in Warsaw as President Seeks Cut in Energy Bill

Polish power utilities declined in Warsaw on Friday as President Karol Nawrocki proposed cutting the electricity bill in a series of measures included in a new law he filed with the parliament.

The bill would help an average household save about 800 zloty ($218) a year, or 33%, the president’s aides said at the press conference. The proposal envisages canceling fees for renewables, capacity market and heating as well as lowering the cost of green certificates, power distribution and reinstating VAT rate of 5%, compared with 23% now.