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Current Report No. 1/2018

18.01.2018 11:20

Conclusion of the coal purchase agreement with Polska Grupa Górnicza S.A.

Management Board of TAURON Polska Energia S.A. (”Company”) would like to inform that a coal purchase agreement (”Agreement”) was signed between the Company and Polska Grupa Górnicza S.A. (”PGG”) on January 18, 2018.

The subject of the Agreement is the purchase of thermal coal for the production needs of TAURON Group’s power generating units. The Agreement was concluded for an indefinite period of time.

The estimated value of coal supplies in the 2018-2021 time frame, based on the coal price agreed for 2018, will reach the net amount of approximately PLN 2.15bn.

The coal price was agreed for the first year of the Agreement’s term, while in the subsequent years the coal price will be indexed based on the formula included in the Agreement, taking into account changes of the market conditions.

The Agreement provides for liquidated damages in the amount of 10 percent of the value of unrealized deliveries in the given year.

 

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