
Consultant at @RedshawAdvisors; here also as Director of Justycja Ltd, CEE - English Interpreting & Translations for Lawyers; Opinions & views are my own
London, England
Joined November 2013
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It’s been a good year, but the best is yet to come / a po polsku pozwolę sobie zacytować kultowy film #Hydrozagadka - ,,Dobrze jest łączyć przyjemne z pożytecznym i dobrze jest mieć odznakę’’ 😎
#EUETS #OCTT #NetZero
We are delighted to have claimed three ‘best in category awards’ in the 2020 @Enviro_Finance Rankings.
🥇 Best trading company - EU ETS
🥇 Best advisory/consultancy - EU ETS
🥇 Best advisory - Renewable Energy Certificates, Europe
Thanks for all your support
🇺🇦Kuba Hiterski🇺🇦 retweeted
A Turkish software engineer living in Warsaw has created a precise digital replica of the city
The map, which can be explored for free online, features almost 200,000 buildings, moving trams that match their real-life schedules and live weather conditions notesfrompoland.com/2026/10/…
🇺🇦Kuba Hiterski🇺🇦 retweeted
$ 5.6bn in 1 quarter.
A year ago Phillips 66 made $133m.
That’s a 42-fold jump and the highest quarterly profit in its history.
Q3 numbers:
-Net income $ 5.62bn, up from $133m
-Adjusted EPS $14.08, against an $11.73 consensus (LSEG)
-Refining margin $38 a barrel, up from $24.08 in Q2
-Diesel and jet made up a record 41% of output
The extra money came from diesel.
The Iran war and Ukraine’s drones took fuel off the market, and US refiners are running at multi-year highs.
There’s also a freight edge.
Phillips 66 chartered more than 40 tankers before rates jumped, and has 40 more coming at below-market rates, Reuters reports.
Traders shipping fuel to Europe and Asia pay today’s rates.
Valero, HF Sinclair and Phillips 66 all posted record quarters, 3 out of 3.
The refiner sits between crude and diesel and keeps the spread.
My latest article applies the same test to gas, where the spread is wider.
Do not miss my latest article.
Link:themerchantsnews.substack.co…
Sorry I had to… 🤭😇😏 youtu.be/Zqd1ar5_7qw?is=Y-mn…
🇺🇦Kuba Hiterski🇺🇦 retweeted
The US accounts for 60% of European LNG imports this year, distantly followed by Russia at 13%. The Russian piece has remained fairly steady, while the US portion has increased quite a bit. Algeria is a distant third. Seasonal volumes are trending higher. @ColumbiaUEnergy
EU approves €319 million state aid to Austrian semiconductor factory l.euronews.com/MjPC
🇺🇦Kuba Hiterski🇺🇦 retweeted
Google Misses Estimates as Growth in Search Revenue Slows
Despite gains in its cloud division, the company had negative free cash flow of $9.1 billion wsj.com/tech/ai/alphabet-goo…
🇺🇦Kuba Hiterski🇺🇦 retweeted
This is eye-opening. Europe’s share of global tech R&D has collapsed from 23% in 2005 to just 8% today, while the US has climbed to 62% and China has risen from near zero to 15%. South Korea now outspends Germany, France, the UK, and Italy combined in tech R&D. Yep, you read that right.
This is the predictable result of policy choices that systematically favor control and redistribution over growth. Layered regulation, data rules, AI restrictions, labor rigidities, and precautionary frameworks, raises the cost and slows the pace of turning ideas into products, forcing companies to spend scarce resources on compliance rather than experimentation. High taxation and expansive redistributive systems extract capital that would otherwise fund private R&D and risk-taking, while shrinking the after-tax reward for building something new and scaling it. The broader left-leaning mindset that prioritizes equality of outcome over dynamism treats entrepreneurial success as something to be managed, taxed, or shared rather than unleashed and rewarded.
Places that protect the returns to innovation and keep barriers low continue to pull ahead, attracting talent and capital that Europe increasingly loses. Europe’s relative decline is the cumulative outcome of treating dynamism as a problem to be regulated rather than the engine of prosperity. Without a shift toward lighter rules, lower burdens on enterprise, and greater tolerance for unequal outcomes from unequal effort, the gap will keep widening, and Europe will become an open-air museum for wealthy Americans and Asians.
🇺🇦Kuba Hiterski🇺🇦 retweeted
As we aim to develop & decarbonise #EU industry, the #ETS reform isn't a solution to all challenges; but no solution exists here without a thorough ETS reform.
I'm looking forward to joining this debate alongside @Gasiuk_Pihowicz @RosalindeEU @bbudka @JarubasAdam @k_bolesta!⤵️
⚡ Every investment decision in Europe’s power sector depends, among others, on one thing: predictable rules.
🏭 For Polish energy companies, this is to a large extent about the EU ETS. The system has driven emission reductions for two decades, but its next chapter will determine whether Europe can decarbonise and stay competitive at the same time, or whether it must choose between the two.
⏳ Negotiations on the ETS Directive revision in the EU institutions are now entering a decisive stage. The decisions made in the coming months will shape investments in new generation capacity, grids, and energy security for years to come.
🇪🇺 That’s why we’re looking forward to the debate “EU ETS Revision: How to Develop and Decarbonise EU Industry at the Same Time?”, hosted by MEP Kamila Gasiuk-Pihowicz and MEP Borys Budka. EU institutions, Member State governments and industry will sit at one table to discuss what it really takes for European companies to invest, remain competitive and accelerate the transition.
🔌 PKEE – Polish Electricity Association will be part of this important debate, presenting the Polish power sector's perspective on how the EU ETS can support both decarbonisation and economic growth.
📅 3 November 2026, 15:00–17:00
📍 European Parliament, Brussels
👉 Register here: forms.cloud.microsoft/e/fLUf…
See you in Brussels!
#EUETS #ClimatePolicy #EnergyTransition #Decarbonisation #Competitiveness #EuropeanParliament #PowerSector #PKEE
🇺🇦Kuba Hiterski🇺🇦 retweeted
Israeli exit polls suggest no clear winner in pivotal general election bbc.in/4klhwys
🇺🇦Kuba Hiterski🇺🇦 retweeted
Neil Young again sues Trump campaign for playing Rockin' in the Free World at rally bbc.in/4ilfdsO
🇺🇦Kuba Hiterski🇺🇦 retweeted
A single unelected tech oligarch shouldn’t be able to make life-and-death decisions about America’s national security.
After Elon Musk posted on X saying he had throttled Ukraine’s use of Starlink after it was used for offensive attacks, House Armed Services Committee member Rep. Jason Crow (D-CO) says the billionaire’s ability to wield that power is “beyond disturbing to me.”
“It cannot and should not be the case that a tech oligarch, a private citizen, who has that much control over our national security, who is unaccountable, who is unelected, with zero transparency, is making life and death decisions on the battlefield in systems that our service members and our partners and allies rely upon,” he adds.
🇺🇦Kuba Hiterski🇺🇦 retweeted
Warto przypomnieć, że nielegalne przekroczenia spadły o około 90% w porównaniu z 2015 rokiem.
Liczba wykrytych nielegalnych przekroczeń granic UE:
➡️ 2015: ok. 1 822 000
➡️ 2025: ok. 178 000
#CzyWieszŻe w ciągu ostatnich 2 lat #UniaEuropejska poczyniła znaczne postępy w dziedzinie migracji zmniejszając o ponad połowę liczbę nielegalnych przekroczeń granicy? Jednocześnie odsetek powrotów spadł do ponad 30%
Propozycja wzmocnienia @Frontex → link.europa.eu/mMXVF8
🇺🇦Kuba Hiterski🇺🇦 retweeted
Sizewell nuclear plant is ‘terrible deal’ for British taxpayers, MPs conclude
Parliamentary inquiry says consumers are carrying ‘extraordinary’ financial risk and footing most of the £40bn bill as private investors ‘cash in’
ft.com/content/bc330ee4-f151…
🇺🇦Kuba Hiterski🇺🇦 retweeted
Panie Marku, zarzuca Pan innym tunelowe myślenie, a sam pomija fundamentalną zmianę w energetyce: efektywną elektryfikację gospodarki.
⚡ 1 MWh prądu w pompie ciepła może zapewnić 4 MWh ciepła.
🚗 Samochód elektryczny zużywa około 3–4 razy mniej energii na kilometr niż spalinowy.
To oznacza ogromną redukcję zużycia paliw i energii potrzebnej do zaspokojenia tych samych potrzeb.
Eksport taniej energii i import w drogich godzinach nie dowodzą absurdalności rynku. Pokazują również, jak bardzo potrzebujemy elastycznego popytu, magazynów energii i integracji sektorów.
Prawdziwe myślenie systemowe to nie tylko pytanie, ile kosztuje MWh prądu, ale ile kosztuje ogrzanie domu, przejechanie 100 km i wyprodukowanie tony stali.
Bez zrozumienia elektryfikacji nie da się rzetelnie oceniać przyszłości energetyki.
Proponuję wyjść ze swojego tunelu…
Bardzo wymowne są ta i inne wczorajsze wymiany zdań. Mamy do czynienia z dwoma zupełnie różnymi sposobami myślenia o energetyce. Jednym całościowym, reprezentowanym przez prof. Malechę, i drugim tunelowym, który prezentuje prezes PSE Grzegorz Onichimowski.
Profesor Malecha próbuje uzmysłowić czytelnikom, że doszliśmy do absurdalnej sytuacji, w której musimy ratować się importem energii, i to po wysokich cenach, żeby obniżyć jeszcze wyższe ceny na naszym rynku. Stworzono system, w którym zamiast dążyć do niskich, stabilnych i przewidywalnych cen energii, zaakceptowano wysokie ceny jako normę, a teraz próbuje się jedynie łagodzić ich największe skoki, importując nieco tańszą energię z zagranicy. Do tego dochodzi wypychanie okresowych nadwyżek energii po bardzo niskich, a niekiedy nawet ujemnych cenach.
Prezes Onichimowski patrzy na to tunelowo. Skupia się na mechanice doraźnego zarządzania wysokimi cenami i tłumaczy, dlaczego import w danej godzinie jest korzystny. Nie podejmuje jednak zasadniczego problemu, który podnosi profesor. Dlaczego w ogóle doprowadzono do sytuacji, w której energia jest tak droga? Dlaczego za punkt odniesienia przyjmujemy już wysokie ceny i cieszymy się, że dzięki importowi udaje się uniknąć jeszcze wyższych? Co z kosztami całego systemu, które ostatecznie ponoszą odbiorcy i gospodarka?
Można bez końca tłumaczyć, że w danych warunkach import jest opłacalny, że mechanizmy "rynkowe" działają prawidłowo, a kolejne interwencje pozwalają ograniczyć wzrost cen. Tylko że właśnie te warunki i mechanizmy powinny być przedmiotem krytycznej oceny! Nie wystarczy sprawnie zarządzać skutkami systemu, jeżeli sam system generuje coraz większe koszty. To urządzanie się w bagnie!
I to jest zasadnicza różnica w sposobie myślenia. Jedni oceniają skuteczność pojedynczych mechanizmów w ramach istniejącego modelu, drudzy podważają sens i gospodarcze konsekwencje całego modelu.
Doprowadzono do sytuacji, w której normą przestała być tania energia dla przemysłu i gospodarstw domowych, a stało się nim to, że dzięki importowi energia jest tylko trochę mniej droga, niż mogłaby być. I jeszcze przedstawia się to jako argument na rzecz racjonalności obecnego systemu.
Trudno o bardziej wymowny przykład tego, jak bardzo obniżono ambicje polskiej polityki energetycznej.
🇺🇦Kuba Hiterski🇺🇦 retweeted
HEDGE FUNDS and other money managers have accumulated the largest net short position in U.S. gas for more than six years since the first wave of the coronavirus pandemic. Fund managers held an extremely bearish net short equivalent to -1833 billion cubic feet on October 20 (in only the 3rd percentile for all weeks since 2010) down from an extremely bullish net long position of +2,026 bcf (74th percentile) at the same point a year ago. Funds are anticipating exceptionally strong El Niño conditions will cut heating demand significantly this winter ensuring low prices will be needed to maximise gas consumption by electricity generators:
🇺🇦Kuba Hiterski🇺🇦 retweeted
Stubb: The European Union will have roughly 40 member countries, 20% of the world's nations. My vision is that this happens 30 years from now.
Personally, I would like to see all of the Western Balkans, Ukraine and Moldova in. 1/
🇺🇦Kuba Hiterski🇺🇦 retweeted
Britain may block its biggest untapped oilfield at $116 Brent.
Rosebank is an £8.7bn field that would pump about 69k b/d at peak, roughly 1/10 of UK oil output.
The production ship has been on site since June.
More than 70% of Britain’s oil already comes from abroad.
Not one exploration well was drilled on the UK shelf in 2025, the regulator says.
Reserves fell to 2.5bn boe, down 0.4bn in a year.
The cabinet is split... Chancellor John Healey wants Rosebank for the jobs and tax. Energy Secretary Miatta Fahnbulleh makes the call, and she is minded to say no.
Her line: Jackdaw is gas “for the domestic market”, while Rosebank is oil “mainly for export”.
Block Rosebank and Britain still burns the oil.
It just buys it from someone else.
Shell is a partner in Rosebank through Adura with Equinor.
Ithaca, which owns 20% of the field, says it will likely stop investing in Britain if the answer is no.
🇺🇦Kuba Hiterski🇺🇦 retweeted
UK and EU officials to discuss freedom of movement bbc.in/4jE5uQw
🇺🇦Kuba Hiterski🇺🇦 retweeted
Turkey's Jan-Aug thermal coal imports hit four-year low amid record hydro output spglobal.com/energy/en/news-…






























