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Current Report No. 56/2019

17.12.2019 18:20

Information on the effects of the 2020 electricity tariff for the G tariff groups customers approved by the President of the Energy Regulatory Office.

TAURON Polska Energia S.A. (”Issuer”) informs that on 17 December 2019, it performed an evaluation of the impact on the Issuer’s Capital Group’s financial results of the 2020 electricity tariff for the G tariff groups consumers (“G tariff”), approved by the President of the Energy Regulatory Office (“ERO”) on 17 December 2019.

The President of ERO approved the electricity sales price for the G tariff groups consumers for TAURON Sprzedaż sp. z o.o. (Issuer’s wholly owned subsidiary) at PLN 289.37 per MWh on average. The G tariff will be in effect until 31 December 2020. The G tariff consumers are primarily households.

Taking into account the approved electricity sales price and acting in compliance with IAS 37 (provisions, contingent liabilities and contingent assets), the Issuer identified the need to set up, in Q4 of 2019, a provision for onerous contracts in the Supply Segment that was initially estimated to be worth between PLN 230 million and PLN 280 million.

At the same time, the Issuer makes a caveat that the value of the above mentioned provision may be subject to change and its final value will be included in 2019 financial statements of the Issuer’s Capital Group which will be audited by a certified auditor.

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

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