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Current Report No. 35/2017

20.07.2017 18:30

Receiving a law suit in connection with termination of long-term contracts for the purchase of energy and property rights

The Management Board of TAURON Polska Energia S.A. (the “Issuer”) informs that on 20 July 2017 the Issuer received a law suit of 29 June 2017, lodged by Gorzyca Wind Invest sp. z o.o. with its registered office in Warsaw, against the Issuer for the payment of compensation in the amount of PLN 39.7 million and determining the liability for damages which may stem in the future from prohibited acts, including the acts of unfair competition, of the value estimated by the claimant amounting to PLN 465.9 million.

The case is pending before the Regional Court in Katowice. According to the statement of the claimant company, the actual basis for the suit is the termination by a subsidiary of the Issuer: Polska Energia – Pierwsza Kompania Handlowa sp. z o.o. with its registered office in Warsaw of long-term contracts for the purchase of electricity and property rights arising from certificates of origin, and the total amount of the future loss to be incurred by all companies of Wind Invest group will amount to PLN 1,212.9 million, according to the statement of the claimant company. The Issuer informed of the termination of the aforementioned contracts in the current report No. 7/2015 of 19 March 2015.

The Issuer commenced the analysis of the letter and the enclosed documents and drafting the response to the claim within the 14-day time limit outlined by the court.

The preliminary assessment of the rationale of the claims contained in the law suit indicates their full illegitimacy.

Legal basis: Art. 17.1 of MAR – inside information
 

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