Poland's Treasury Ministry is considering the idea of merging electricity companies Energa and Enea after it failed to gain regulatory approval for PGE's takeover of the former company.

“The merger of Enea and Energa is one of the options [being considered],” Deputy Treasury Minister Paweł Tamborski told reporters on Thursday.

He admitted it would not be an easy solution to privatizing Energa, since all shareholders in Enea and Energa would have to agree to the merger.

“The transaction could yet again be blocked by [regulator] UOKiK,” he added.

The Treasury has for over a year now been trying to privatize Gdańsk-based Energa. The utility was supposed to be taken over by Poland's largest electricity player, PGE, for zł.7.5 billion, but the transaction was blocked by UOKiK.

Both sides appealed the decision, but a court date hasn't yet been set. The Treasury is therefore considering new ways to privatize Energa.

Poland A.M.