TAURON Polska Energia : Current Report No. 30/2018

15.11.2018 15:05

​TAURON Polska Energia S.A. ('Company') announces that on November 15, 2018 TAURON Group companies took part in the first main capacity auction ('Auction') organized as part of the capacity market mechanism introduced by the act of December 8, 2017 on the capacity market ('Act'). TAURON Group companies offered the so-called capacity obligation, i.e. the obligation to:

1) maintain, during the delivery period, readiness to deliver specified electric capacity to the National Power System by TAURON Group's individual Capacity Market Units (units generating electricity or demand side response units), and

2) deliver specified electric capacity to this system during stress periods that may be announced by Polskie Sieci Elektroenergetyczne S.A. ('PSE') in accordance with the Act.

According to the Company's estimates the Auction's closing price will be within the 218.56 to 240.40 PLN/kW/year range, and TAURON Group's revenue from the capacity market may reach:

a) in the year 2021: between PLN 584.10 million and PLN 642.47 million

b) in the years 2022-2025: between PLN 437.26 million and PLN 540.1 million per year

c) in the years 2026-2035: between PLN 168.87 million and PLN 185.75 million per year

d) in the years 2036-2037: between PLN 1.02 million and PLN 1.12 million per year

In accordance with the Act the preliminary results of the Auction will be published by PSE within 3 working days, i.e. by November 20, 2018, while the final results of the Auction will be announced by the President of the Energy Regulatory Office in the Bulletin of Public Information (Biuletyn Informacji Publicznej) on its website, on the first working day following the 21st day from the day of closing the Auction, i.e. on December 7, 2018.

Legal basis: art. 17, clause 1 of MAR - inside information