Preliminary results of the capacity market main auction for 2026 published by Polskie Sieci Elektroenergetyczne S.A.
Belongs to:
- Current reports
Current report No. 40/2021
Date: 20 December 2021
Subject: Preliminary results of the capacity market main auction for 2026 published by Polskie Sieci Elektroenergetyczne S.A.
Legal basis: Article 17(1) MAR - inside information
Following the current report No. 38/2021 dated 16 December 2021, the Management Board of Energa SA ("Issuer") announces that on 20 December 2021 Polskie Sieci Elektroenergetyczne S.A. published preliminary results of the capacity market main auction for 2026, including the closing price for the capacity auction which is 400.39 PLN/kW/year.
The Energa Group companies concluded the following capacity agreements:
1) 981.738 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 total revenues of the Energa Group in the year 2026 from the above-mentioned contracts may amount to ca. PLN 879.2 million.
With regard to the long-term contracts, the Issuer informs that the expected annual revenues, starting from year 2026, may amount to ca. PLN 278.6 million (total revenues over the period of 17 years may amount to ca. PLN 4.73 billion) for CCGT Ostrołęka Sp. z o.o. and ca. PLN 207.5 million (total revenues over the period of 17 years may amount to ca. PLN 3.52 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.
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 capacity contracts are concluded under the condition precedent.
Only if the final auction results differ from the interim results, will Energa SA publicly announce adjusted data.