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Who we are

Business profile

The PGE Capital Group is Poland’s largest energy sector company with respect to sales revenues and net profit. Thanks to the combination of its own fuel resources, power generation and distribution networks, PGE guarantees a safe and reliable power supply to over 5 million households, businesses and institutions.

Mission and vision statement

PGE Capital Group’s Mission - with energy, we create value and build a safe future. Pursuing the mplementation of its mission and vision, the PGE Capital Group upholds the following values:

  • cooperation and openness
  • passion and determination
  • safety and responsibility

PGE Capital Group’s Vision - to be the leader in dynamic growth:

  • to hold a modern generation portfolio diversified with respect to its fuel base
  • to be customer-friendly
  • to be efficient, innovative and financially strong
  • to take advantage of its potential and opportunities in the domestic and foreign markets
PGE Capital Group

PGE Capital Group’s strategic projects

The supreme strategic objective of the PGE Capital Group is to increase its economic value for its shareholders. The achievement of this objective will be possible by increasing the competitiveness of retail sales, improving PGE’s operating effectiveness, and developing further activities in the current and new markets.

In 2012 The Management Board set a primary goal which consists not only in a final reorganisation of the Group's formal and legal structure, but mainly in increasing the operational performance of the entire Group, so that it can be managed efficiently. With this assumption in mind, several key projects have been launched, which will translate into short, medium and long-term performance of the entire Capital Group and its ability to create value in the longer perspective.

In 2012 projects of strategic importance in PGE Group were:

  • development of the Operating Model for PGE Group assumed integrated operations of Business Segments and the Corporate Centre
  • implementation of SAP system
  • Shared Services Centre Development plan
  • Turów Complex optimisation

Strategic investment projects

One of the key levers for the long-term process of creating the Company’s value is investment projects, especially the construction of new generation capacities. A diversified and modern generation portfolio is one of the pillars of PGE’s vision. It constitutes a response to the dynamically changing conditions in the Company’s market environment. In 2012 the PGE Group’s capital expenditures amounted to PLN 4254.3m.

Continuation of consolidation process

In 2012 PGE continued the Consolidation Programme of its Capital Group. Its implementation is the result of the pursuit of establishing a strong business entity capable of achieving its strategic objectives and managing its resources efficiently. As a result of the Consolidation Programme in 2010 there occurred a formal and legal merger of the entities in the following business segments: Lignite Mining and Conventional Power Generation (formerly: mining and generation), Renewable Power Generation, Distribution, and Retail Sales. Additionally, within the scope of the share conversion process, pursuant to the Act of 7 September 2007 on the purchase of shares from the State Treasury under the power industry companies’ consolidation process, PGE Górnictwo i Energetyka S.A. and PGE Energia S.A. were merged with z PGE Polska Grupa Energetyczna S.A. Another stage in the Consolidation Programme was the merger of PGE Electra S.A.with PGE Polska Grupa Energetyczna S.A. In the further part of the consolidation process, Elektrownia Wiatrowa Kamieńsk Sp. z o.o. was merged with PGE Energia Odnawialna S.A. as the acquiring company, in the segment of Renewable Power Generation, as well as PGE Energia Odnawialna S.A. merged with Elektrownia Wiatrowa Kamieńsk sp. z o.o. and Dychowskie Przedsiębiorstwo Eksploatacji Elektrowni „Eldeks” sp. z o.o. PGE Elektrownia Opole S.A. was merged with PGE Górnictwo i Energetyka Konwencjonalna S.A. as the acquiring company, in the segment of Lignite Mining and Conventional Power Generation. Furthermore, as part of the reorganisation of its ownership structure, in the years 2010-2012, the PGE Capital Group was taking steps to acquire minority shareholdings in companies conducting business activities in the PGE Group’s major business segments. This resulted in PGE’s acquiring from the State Treasury minority shareholdings in the following key companies:

  • PGE Górnictwo i Energetyka Konwencjonalna S.A. (a block of shares constituting 10.7% of the company’s total share capital)
  • PGE Elektrownia Opole S.A. (a block of shares constituting 8.25% of the company’s total share capital)
  • PGE Obrót S.A. (a block of shares constituting 13.87% of the company’s total share capital)
  • PGE Dystrybucja S.A. (a block of shares constituting 1.47% of the company’s total share capital)
  • PGE acquired from PGE Energia Odnawialna S.A. a minority shareholding in PGE Górnictwo i Energetyka Konwencjonalna S.A. (0.02%).

The other subsidiaries conduct activities supporting the major areas of the Group’s operations as well as in the areas not related to the energy sector.

The PGE Capital Group The PGE Capital Group

Management of non-core assets

The PGE Capital Group’s involvement in many companies not related to the energy sector is the result of historical circumstances. Non-core assets held by the PGE Capital Group represent a wide range of sectors and comprise, e.g. hotel, transport, security, and technical maintenance companies. The PGE Capital Group’s degree of capital involvement differs from one company to another: there are entities in which the Group is a sole owner, and entities with very small blocks of shares held by it. In order to carry out a transparent separation between its core and non-core activities, the Company adopted a concept of non-core assets management within PGE CG.

In 2012, the PGE Capital Group took further actions under the “Concept of Non-Core Asset Management within the PGE Capital Group”. The aim of the programme is to ensure transparent separation of core business activities from other activities as well as disposal and restructuring of non-core assets.

In the year 2012, shares in 5 companies were sold (including MegaMed), 6 other non-core assets were sold (flats and land property), 4 holiday centres were sold and the decommissioning process of one holiday centre was completed.

As part of the Non-Core Project in the years 2009 - 2012 71 non-core assets were sold in total: all share packages in 35 non-core companies were sold, liquidation or bankruptcy processes were completed for 12 companies, shares in 1 company were redeemed, 23 other non-core assets were sold.

In December 2012, intensive efforts were undertaken to launch the WEKTOR Project, which in 2013 replaced the Non-Core Project and covered all subsidiaries and companies with a minority share in the PGE Capital Group. The primary objective of the WEKTOR Project is to further improve the performance of the PGE Capital Group by:

  • building-up synergy at the Capital Group level,
  • focusing on core business activities with a strong Corporate Centre,
  • supporting the process management model of the Capital Group through function modelling,
  • increased flexibility of implemented management processes,
  • reduction of operating expenses,
  • increasing returns on assets,
  • enhancing competitiveness of the PGE Capital Group. 

At the same time, actions will be taken in view of preparing the disposal of other non-generation areas and non-separated assets which are not intended for use as part of core business activities of the companies operating in the PGE Capital Group.

Business Areas

PGE Polska Grupa Energetyczna S.A. is the biggest power producer and supplier in Poland. Thanks to the combination of its own fuel (lignite) resources, power generation and final distribution networks, PGE guarantees a safe and reliable power supply to over 5 million households, businesses and institutions.

The business activities of Polska Grupa Energetyczna S.A. focus on the following:

PGE Capital Group also comprises of companies, which activities are not directly connected with the core business of the Group: 

Key assets Key assets
  • Hydro Plant Żarnowiec Hydro Plant Żarnowiec

    Type: Pumped-storage
    Installed capacity: 716 MW
    Annual electricity generation (2012): 244.7 GWh
    Commissioned: 1983

    For more information visit www.pgeeo.pl
  • Wind farm Karnice Wind farm Karnice

    Installed capacity: 30MW
    Annual electricity generation (2012): 65 GWh
    Commissioning year: 2009
    In PGE Group from: June 2013

  • Wind farm Jagniatkowo Wind farm Jagniatkowo

    Installed capacity: 30,5 MW
    Annual electricity generation (2012): 81,4 GWh
    Commissioning year: 2007
    In PGE Group from: June 2013

  • Power Plant Malbork Power Plant Malbork

    Installed capacity: 18MW
    Annual electricity generation (2012): 39,9 GWh
    Commissioning date: September 2007
    In PGE Group from: July 2013

  • Wind Farm Pelplin Wind Farm Pelplin

    Installed capacity: 48 MW
    Annual electricity generation (2012): 40.7 GWh Commissioned: 2012

    For more information visit www.pgeeo.pl
  • Power Plant Kisielice Power Plant Kisielice

    Installed capacity: 40,5 MW
    Annual electricity generation (2012: 78,3 GWh
    Commissioning date: December 2006
    In PGE Group from: July 2013

  • CHP Pomorzany CHP Pomorzany

    Installed capacity: 134 MWe
    Main fuels: hard coal
    Annual electricity generation (2012): 623 GWh
    Annual heat generation (2012): 2839 TJ

    For more information visit www.pgegiek.pl
  • Power Plant Dolna Odra Power Plant Dolna Odra

    Installed capacity: 1567 MWe
    Main fuels: hard coal, biomass
    Annual electricity generation (2012): 4971 GWh
    Annual heat generation (2012): 310 TJ

    For more information visit www.pgegiek.pl
  • CHP Szczecin CHP Szczecin

    Installed capacity: 68 MWe
    Main fuels: hard coal, biomass
    Annual electricity generation (2012): 429 GWh
    Annual heat generation (2012): 939 TJ

    For more information visit www.pgegiek.pl
  • CHP Bydgoszcz CHP Bydgoszcz

    Installed capacity: 262 MWe
    Main fuels: hard coal
    , biomass, oilAnnual electricity generation (2012): 545 GWhAnnual heat generation (2012): 6504 TJ

    For more information visit www.pgegiek.pl
  • Wind Farm Żuromin Wind Farm Żuromin

    Installed capacity: 60 MW
    Annual electricity generation (2012): 29.7 GWh
    Commissioned: 2012

  • CHP Gorzów CHP Gorzów

    Installed capacity: 97 MWe
    Main fuels: gas, hard coal
    Annual electricity generation (2012): 596 GWh
    Annual heat generation (2012): 1608 TJ

    For more information visit www.pgegiek.pl
  • Hydro Plant Dębe

    Type: Run of river
    Installed capacity: 20 MW
    Annual electricity generation (2012): 80.7 GWh
    Commissioned: 1963

  • Hydro Plant Raduszec Stary Hydro Plant Raduszec Stary

    Type: Run of river
    Installed capacity: 2,98 MW
    Annual electricity generation (2012): 14 GWh
    Commissioned: 1936

    For more information visit www.pgeeo.pl
  • Hydro Plant Dychów Hydro Plant Dychów

    Type: Pumped-storage
    Installed capacity: 91 MW
    Annual electricity generation (2012): 75.3 GWh
    Commissioned: 1936

    For more information visit www.pgeeo.pl
  • Hydro Plant Gubin Hydro Plant Gubin

    Type: Run of river
    Installed capacity: 1,16 MW
    Annual electricity generation (2012): 2.7 GWh
    Commissioned: 1925

    For more information visit www.pgeeo.pl
  • Hydro Plant Zasieki Hydro Plant Zasieki

    Type: Run of river
    Installed capacity: 0,82 MW
    Annual electricity generation (2012): 3.9 GWh
    Commissioned: 1905

    For more information visit www.pgeeo.pl
  • Hydro Plant Gorzupia I Hydro Plant Gorzupia I

    Type: Run of river
    Installed capacity: 0,89 MW
    Annual electricity generation (2012): 0.2 GWh
    Commissioned: 1924

    For more information visit www.pgeeo.pl
  • Hydro Plant Zielisko Hydro Plant Zielisko

    Type: Run of river
    Installed capacity: 1,53 MW
    Annual electricity generation (2012): 4.2 GWh
    Commissioned: 1905/1933

    For more information visit www.pgeeo.pl
  • Hydro Plant Gorzupia II Hydro Plant Gorzupia II

    Type: Run of river
    Installed capacity: 1,68 MW
    Annual electricity generation (2012): 8.7 GWh
    Commissioned: 1998

    For more information visit www.pgeeo.pl
  • Hydro Plant Żarki Wielkie Hydro Plant Żarki Wielkie

    Type: Run of river
    Installed capacity: 0,62 MW
    Annual electricity generation (2012): 2.7 GWh
    Commissioned: 1965

    For more information visit www.pgeeo.pl
  • CHP Zgierz CHP Zgierz

    Installed capacity: 17 MWe
    Main fuels: lignite, hard coal, biomass
    Annual electricity generation (2012): 14 GWh
    Annual heat generation (2012): 477 TJ

    For more information visit www.pgegiek.pl
  • Hydro Plant Grajówka Hydro Plant Grajówka

    Type: Run of river
    Installed capacity: 2,93 MW
    Annual electricity generation (2012): 10.7 GWh
    Commissioned: 1922

    For more information visit www.pgeeo.pl
  • Hydro Plant Żagań II Hydro Plant Żagań II

    Type: Run of river
    Installed capacity: 0,54 MW
    Annual electricity generation (2012): 5 GWh
    Commissioned: 1963

    For more information visit www.pgeeo.pl
  • Hydro Plant Przysieka Hydro Plant Przysieka

    Type: Run of river
    Installed capacity: 1,38 MW
    Annual electricity generation (2012): 5.6 GWh
    Commissioned: 1940/1962/2003

    For more information visit www.pgeeo.pl
  • Hydro Plant Żagań I Hydro Plant Żagań I

    Type: Run of river
    Installed capacity: 0,95 MW
    Annual electricity generation (2012): 4.4 GWh
    Commissioned: 1956

    For more information visit www.pgeeo.pl
  • Hydro Plant Bukówka Hydro Plant Bukówka

    Type: Run of river
    Installed capacity: 0,84 MW
    Annual electricity generation (2012): 4.2 GWh
    Commissioned: 1993

    For more information visit www.pgeeo.pl
  • Hydro Plant Małomice Hydro Plant Małomice

    Type: Run of river
    Installed capacity: 0,8 MW
    Annual electricity generation (2012): 1.8 GWh
    Commissioned: 1992

    For more information visit www.pgeeo.pl
  • Hydro Plant Szprotawa Hydro Plant Szprotawa

    Type: Run of river
    Installed capacity: 0,54 MW
    Annual electricity generation (2012): 1.9 GWh
    Commissioned: 1994

    For more information visit www.pgeeo.pl
  • Lignite Mine Bełchatów Lignite Mine Bełchatów

    Annual output (2012): 42 m tonnes

    For more information visit www.pgegiek.pl
  • Hydro Plant Sobolice Hydro Plant Sobolice

    Type: Run of river
    Installed capacity: 0,8 MW
    Annual electricity generation (2012): 2.8 GWh
    Commissioned: 1993

    For more information visit www.pgeeo.pl
  • Hydro Plant Smardzewice Hydro Plant Smardzewice

    Type: Run of river
    Installed capacity: 3,6 MW
    Annual electricity generation (2012): 8.9 GWh
    Commissioned: 1974

    For more information visit www.zelt.pl
  • CHP Lublin-Wrotków CHP Lublin-Wrotków

    Installed capacity:247 MWe
    Main fuels: gaz ziemny, hard coal
    Annual electricity generation (2012): 1301 GWh
    Annual heat generation (2012): 3286 TJ

    For more information visit www.pgegiek.pl
  • Wind Farm Kamieńsk Wind Farm Kamieńsk

    Installed capacity: 30 MW
    Annual electricity generation (2012): 64.3 GWh
    Commissioned: 2007

    For more information visit www.pgeeo.pl
  • Hydro Plant Kliczków Hydro Plant Kliczków

    Type: Natural flow peak power pumped
    Installed capacity: 0,65 MW
    Annual electricity generation (2012): 2.1 GWh
    Commissioned: 1994

    For more information visit www.pgeeo.pl
  • Power Plant Bełchatów Power Plant Bełchatów

    Installed capacity: 5298 MWe
    Main fuels: lignite, biomass
    Annual electricity generation (2012): 30 052 GWh
    Annual heat generation (2012): 2083 TJ

    For more information visit www.pgegiek.pl
  • Hydro Plant Rakowice Hydro Plant Rakowice

    Type: Run of river
    Installed capacity: 2 MW
    Annual electricity generation (2012): 4.8 GWh
    Commissioned: 2005

    For more information visit www.pgeeo.pl
  • Lignite Mine Turów Lignite Mine Turów

    Annual output(2012): 10.3 m tonnes

    For more information visit www.pgegiek.pl
  • Hydro Plant Nielisz

    Type: Run of river
    Installed capacity: 0,37 MW
    Annual electricity generation (2012): 1.5 GWh
    Commissioned: 1997

  • CHP Kielce CHP Kielce

    Installed capacity: 11 MWe
    Main fuels: hard coal, biomass
    Annual electricity generation (2012): 42 GWh
    Annual heat generation (2012): 1727 TJ

    For more information visit www.pgegiek.pl
  • Power Plant Turów Power Plant Turów

    Installed capacity: 1899 MWe
    Main fuels: lignite, biomass
    Annual electricity generation (2012): 10 282 GWh
    Annual heat generation (2012): 585 TJ

    For more information visit www.pgegiek.pl
  • Hydro Plant Dobrzeń Hydro Plant Dobrzeń

    Type: Run of river
    Installed capacity: 1,6 MW
    Annual electricity generation (2012): 7.1 GWh
    Commissioned: 2008

    For more information visit www.pgeeo.pl
  • Power Plant Opole Power Plant Opole

    Installed capacity: 1492 MWe
    Main fuels: hard coal
    Annual electricity generation (2012): 6648 GWh
    Annual heat generation (2012): 127 TJ

    For more information visit www.pgegiek.pl
  • Hydro Plant Krapkowice Hydro Plant Krapkowice

    Type: Run of river
    Installed capacity: 1,26 MW
    Annual electricity generation (2012): 5.5 GWh
    Commissioned: 2006

    For more information visit www.pgeeo.pl
  • Hydro Plant Krępna Hydro Plant Krępna

    Type: Run of river
    Installed capacity: 1,26 MW
    Annual electricity generation (2012): 5.8 GWh
    Commissioned: 2004

    For more information visit www.pgeeo.pl
  • Hydro Plant Januszkowice Hydro Plant Januszkowice

    Type: Run of river
    Installed capacity: 1,4 MW
    Annual electricity generation (2012): 5.4 GWh
    Commissioned: 2003

    For more information visit www.pgeeo.pl
  • Power Plant Galicja Power Plant Galicja

    Installed capacity: 12MW
    Annual electricity generation (2012:24,6 GWh
    Commissioning date: Decmber 2008
    In PGE Group from: July 2013

  • CHP Rzeszów CHP Rzeszów

    Installed capacity: 102 MWe
    Main fuels: gaz ziemny wysokometanowy i hard coal
    Annual electricity generation (2012): 554 GWh
    Annual heat generation (2012): 1850 TJ

    For more information visit www.pgegiek.pl
  • Hydro Plant Porąbka Hydro Plant Porąbka

    Type: Run of river
    Installed capacity: 12,6 MW
    Annual electricity generation (2012): 20.8 GWh
    Commissioned: 1954

    For more information visit www.pgeeo.pl
  • Hydro Plant Żar Hydro Plant Żar

    Type: Pumped-storage
    Installed capacity: 500 MW
    Annual electricity generation (2012): 154.5 GWh
    Commissioned: 1979

    For more information visit www.pgeeo.pl
  • Hydro Plant Myczkowce Hydro Plant Myczkowce

    Type: Run of river
    Installed capacity: 8,3 MW
    Annual electricity generation (2012): 28.6 GWh
    Commissioned: 1961

    For more information visit www.pgeeo.pl
  • Hydro Plant MEW Myczkowce Hydro Plant MEW Myczkowce

    Type: Run of river
    Installed capacity: 0,2 MW
    Annual electricity generation (2012): 1.3 GWh
    Commissioned: 2007

    For more information visit www.pgeeo.pl
  • Hydro Plant Solina Hydro Plant Solina

    Type: Pumped-storage
    Installed capacity: 200 MW
    Annual electricity generation (2012): 93.6 GWh
    Commissioned: 1986

    For more information visit www.pgeeo.pl
  • Hydro Plant Tresna Hydro Plant Tresna

    Type: Run of river
    Installed capacity: 21 MW
    Annual electricity generation (2012): 21.9 GWh
    Commissioned: 1966

    For more information visit www.pgeeo.pl