Listed companies cannot be hand-controlled by politicians.

20 October 2022
Author: Michał Romanowski

In an interview with Rzeczpospolita today, Professor Michał Romanowski comments on the statement made by Deputy Prime Minister Jacek Sasin, who tweeted:

"I expect the President of @TauronPE to immediately withdraw from the unacceptable decision regarding the termination of gas contracts. There is no consent from me for such actions. The change of operator should be done in a way that is imperceptible and safe for the customer. There will be no interruption to the gas supply".

When asked by a journalist, Professor M. Romanowski explains that Prime Minister Sasin is wrong and Tauron is right because: "The procedures and mechanisms related to ensuring security and continuity of supply to end users result from the regulations in force, i.e. the Energy Law. They function independently of Tauron's actions - the company only brought them into operation. Therefore, it is the regulations that guarantee continuity of supply. Tauron in its assurances only refers to the consequences resulting from them" and that "In this case, the interest of customers is protected by the application of regulated prices. On the other hand, the rates from the reserve seller's price lists will apply to non-tariffed customers."

When asked about the legal significance of Prime Minister Jacek Sasin's twitter request, Prof. Romanowski replies: "Tauron is a listed company, so this is yet another astonishing twitter response by a politician, the Deputy Prime Minister, in blatant violation of corporate governance, the provisions of the CCC and capital market law. After all, Deputy Prime Minister Sasin is not an organ of the Tauron company, and he is speaking from a position of authority, and therefore a person who makes no secret of the fact that he de facto manually controls listed State Treasury companies. Taking care of the interests and safety of individual consumers [...] must be done within the rules of law and corporate governance".

The 1st All-Polish Scientific Conference 'Regulated Markets - Legal, Financial and Market Competitiveness Aspects' is coming up (details and registration: Link), under the patronage of, among others, Romanowski and Wspólnicy Law Firm. The challenges for regulated markets will be discussed. Prof. Michał Romanowski and Adam Romanowski - partners of our law firm - will be among the experts. Prof. Michał Romanowski has been elected Chairman of the Conference's Scientific Council.

There will be plenty to talk about!

20 October 2022

Author: Michał Romanowski

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