Summary of the capacity market main auction for 2026 for entities belonging to the Energa Group
Belongs to:
- Current reports
Current report No. 38/2021
Date: 16 December 2021
Subject: Summary of the capacity market main auction for 2026 for entities belonging to the Energa Group
Legal basis: Article 17(1) MAR - inside information
The Management Board of Energa SA ("Issuer") announces that on 16 December 2021, as a result of the capacity market main auction for 2026, a total of at least 1,901.059 MW of capacity obligation was contracted for units belonging to the Energa Group, including:
1) at least 686.738 MW for existing units and Demand Side Response (with a 1 year capacity contract),
2) 1,214.321 MW for planned gas and steam units in Ostrołęka (695.951 MW) and Grudziądz (518.370 MW), the construction of which, according to the assumptions, is to be carried out by the companies CCGT Ostrołęka Sp. z o.o. and CCGT Grudziądz Sp. z o.o., respectively (with a 17 years capacity contract).
The closing price of the auction is within the 367.05 - 400.40 PLN/kW/year range, and pursuant to Article 38.1 of the Capacity Market Act of 8 December 2017, it will be made public by PSE S.A. within 3 working days.
The total revenues of the Energa Group in the year 2026 from the above-mentioned contracts may amount to at least PLN 697.78 million.
With regard to the long-term contracts, the Issuer informs that the expected annual revenues, starting from year 2026, may amount to at least PLN 255.44 million (total revenues over the period of 17 years may amount to at least PLN 4.34 billion) for CCGT Ostrołęka Sp. z o.o. and at least PLN 190.26 million (total revenues over the period of 17 years may amount to at least PLN 3.23 billion) for CCGT Grudziądz Sp. z o.o., 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.
PSE S.A. will make public the preliminary results of the above-mentioned capacity auction within 3 working days from the auction date. 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.