Current Report No. 54/2018
Title: Results of the capacity market auction for 2023 published by Polskie Sieci Elektroenergetyczne S.A.
Date: 24th of December 2018
Legal basis: Article 17(1) MAR - confidential information
Following report no. 53/2018 dated 21 December 2018, the Management Board of ENERGA announces that on 22nd of December 2018 Polskie Sieci Elektroenergetyczne S.A. published initial result of the capacity market main auction for 2023, including the closing price for the capacity auction which is 202.99 PLN/kW/annum.
- The Energa Group companies concluded capacity agreements for 1 year (ie for 2023) with a capacity obligation of 477 MW, under which the total revenues may amount to PLN 96.8 million.
- Elektrownia Ostrołęka Sp. z o.o. ("Company"), in which Energa S.A. holds 50% of shares and the same number of votes at the shareholders' meeting, concluded capacity agreement for 15 years with a capacity obligation of 853 MW, under which the revenues may amount to PLN 173 million per one year, starting form year 2023 (revenues over a period of 15 years, may amount to PLN 2 596 million), whereas the price of the capacity obligation for long-term capacity contracts will be subject to an annual indexation of the average annual consumer price index.
The auction closing price provided does not constitute the final capacity auction result. The final results of the capacity auction shall be announced by the President of the Energy Regulatory Office in the Public Information Bulletin on his website, on the first working day following the 21st day after the end of the capacity auction. Until then, all contracts of sale of capacity obligations are conditional.
Only if the final auction results differ from the interim results, will Energa S.A. publicly announce adjusted data.