Poland is prioritizing low-cost electricity as it revamps its energy policy and shifts away from its reliance on coal-fired generation, the nation’s environment minister said. Marcin Korolec said he’d like to phase out subsidies for both clean power and fossil fuels, though the country must also replace aging power stations including some that are more than 40 years old. “We are in quite a big crisis,” Bloomberg quoted Korolec as saying Wednesday at a Bloomberg New Energy Finance conference in New York. “We need new investment, but we are living in this paradigm of expensive energy prices. We are facing tremendous questions”, Korolec said. “Maybe we have to introduce a phase-out of energy subsidies in all areas, a phase out of fossil fuel and also renewable energies and concentrate on those technologies which are commercial,” he said.