PGPKY PGE Polska Energetyczna SA (PK)

WARSAW--Poland's largest, state-controlled power utility PGE Polska Grupa Energetyczna SA (PGE.WA) has terminated its hard coal Opole II power plant built-out project, as trends in the economy and low power prices have hit its commercial viability, the company said Friday.

Continuing with the Opole II project, which would involve building two new units--numbered 5 and 6 at PGE's power plant in Opole--wouldn't create value for shareholders, PGE said in a market filing.

PGE plans to refocus on its core business of generating and selling power from burning lignite, as well as other investment projects, it said.

Write to Marynia Kruk at marynia.kruk@dowjones.com