Current Report No. 34/2017

Belongs to:

  • Reports

Date of preparation: 16 August 2017

Subject: Impact of amendments to the RES Act on the results of the Sales Segment

Legal Basis: Article 17 Section 1 of the Market Abuse Regulation – confidential information

 

The Management Board of ENERGA SA hereby reports that, in connection with the approaching effective date of the amendments to the RES Act, it has estimated the potential impact of the reduction in costs and revenues arising from deregulation of the amount of the substitution fee and serving as an offtaker of last resort.

According to our current knowledge, we estimate the favorable impact of the amendments to the RES Act at approx. PLN 150 million in 2018. The scope of this impact takes into account cuts in both costs and revenues arising from the role of an offtaker of last resort and the setting of the amount of the substitution fee at a market level in a portion of long-term contracts for the purchase of green certificates. The said calculations do not constitute a forecast of the ENERGA Group’s future performance and are based on the assumption that the volume of retail sales remains at the 2016 level (19 TWh) and the substitution fee in 2018 is PLN 43 per MWh.

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