WARSAW The Polish government has decided to move ahead with the privatization of several energy plants this year while delaying the sale of more valuable distribution companies to next year, Polish media reported on Wednesday.

Poland would offer 45-percent stakes in seven power plants and a 25-percent stake in the G8 group of power distributors in northern Poland, the largest electricity distributor in the country, the government had decided on Tuesday according to ****Rzeczpospolita**** daily.

The treasury had earlier hoped to complete this year the sale of 13 power stations, plus the G8 distributor, the G4 distributor in the southeast and Warsaw distributor Stoen.

The sale of G4 and Stoen has now been scheduled for next year, in expectation of better prices as the electricity market is liberalized.

Ten more power generators will be sold in 2002, with several more scheduled for sale in 2003 along with four regional electrical distribution groups.

The government decided to sell initially no more than 45 percent of power plants, with allowing majority takeovers by investors only in exceptional cases.

Investors will only be allowed initial stakes of 25 percent in distributors, with the treasury keeping at least 25 percent plus one share until the end of the investment program.

Individual investors will be allowed to acquire no more than 15 percent of the polish power market.

The G8 distribution company has attracted significant interest, with Electricite De France having already submitted an unsolicited bid that was rejected.

Endessa of Spain and German RWE are also expected to make offers for the company which could fetch 300 million dollars (351.6 million dollars) plus 500 million dollars in investment commitments.