EM Kancelaria Publiczna [Public Chambers]

Wrocław, 21.12.2018

Current Report 45/2018

Subject: Result of main capacity market auction for the year 2023

The Management Board of the company Zespół Elektrociepłowni Wrocławskich KOGENERACJA Spółka Akcyjna ("Issuer") discloses that he was informed that on 21 December 2018 the PGE Polska Grupa Energetyczna S.A. ("PGE") a parent company within the meaning of art. 4 § 1 section 4a) of the Commercial Companies Code, informed in Current Report No. 41/2018 about the result of the auction of the capacity market for 2023 (main auction). Below, the Issuer announces unchanged information provided by PGE:

"The Management of PGE Polska Grupa Energetyczna S.A. ("PGE") discloses that on December 21, 2018, as a result of capacity market auction for the year 2023 (the main auction), total capacity obligation of not less than 6 300 MW has been contracted for generation units owned by PGE Group. Capacity contracts have been concluded for one year. Auction clearing price has been set within the range of 217.06-189.95 PLN/kW/year and - on the basis of article 38 par. 1 of the Capacity Market Act of December 8, 2017 - will be disclosed by PSE S.A within 3 business days.

The above capacity obligations are not final results of capacity auction. Final results are to be published by the President of Energy Regulatory Office on its website (in the section Biuletyn Informacji Publicznej) on the first business day following 21st day after the close of capacity auction. Until then all capacity obligation contracts are conditional.

Total capacity obligation contracted for generation units owned by PGE Group for the year 2023, including long-term obligations contracted in the auction for the year 2021, amounts to not less than 10 943 MW."

Due to integrated activities related to the capacity market, internally regulated between PGE Polska Grupa Energetyczna S.A. and the companies of the PGE Capital Group, including the Issuer, the Company is currently unable to determine its obligations related to the capacity market.

Detailed legal basis: Article 17(1) MAR.

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Zespól Elektrocieplowni Wroclawskich Kogeneracja SA published this content on 21 December 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 December 2018 16:44:05 UTC