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9/29/2020 1:03:48 AM

Current Report No. 35/2018

07.12.2018 21:00

Preliminary results of the capacity market main auction for 2022 provided by Polskie Sieci Elektroenergetyczne S.A.

In reference to the current report no. 34/2018 of December 5, 2018, TAURON Polska Energia S.A. ("Company", "TAURON") announces that on December 7, 2018 Polskie Sieci Elektroenergetyczne S.A. ("PSE") provided preliminary results of the main power auction conducted on December 5, 2018 as part of the power market mechanism ("Auction").

In accordance with the information published by PSE, the Auction’s closing price reached 198,00 PLN/kW/year and TAURON Group’s companies concluded capacity agreements for 1 year (i.e. for 2022) for a total volume of capacity obligations amounting to 422,23MW. The Company estimates that revenue from the Auction will reach PLN 83,6 million in 2022.

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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