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Current Report No. 40/2018

23.12.2018 17:00

Preliminary results of the capacity market main auction for 2023 provided by Polskie Sieci Elektroenergetyczne S.A.

In reference to the current report no. 39/2018 of December 21, 2018, TAURON Polska Energia S.A. ("Company", "TAURON") announces that Polskie Sieci Elektroenergetyczne S.A. ("PSE") provided preliminary results of the main power auction conducted on December 21, 2018 as part of the power market mechanism ("Auction").

In accordance with the information published by PSE, the Auction’s closing price reached 202.99 PLN/kW/year and TAURON Group’s companies concluded capacity agreements for 1 year (i.e. for 2023) for a total volume of capacity obligations amounting to 393.23 MW. The Company estimates that revenue from the Auction will reach PLN 79.82 million in 2023.

Pursuant to the act of December 8, 2017 on the capacity market, final results of the Auction will be announced by the President of the Energy Regulatory Office in the Bulletin of Public Information (Biuletyn Informacji Publicznej) on its website, on the first business day following the 21st day from the day of closing the Auction. Under the above act, until the final results of the Auction are announced, TAURON Group’s companies’ capacity agreements are concluded under a suspending condition.

In case the final results of the Auction differ significantly from the preliminary results of the Auction, based on which the Company calculated its estimated revenue from the Auction, the Company will disclose the accordingly adjusted data.

Legal basis: art. 17, clause 1 of MAR – inside information

 

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