ERO President decision concerning annual adjustment of LTC compensations for 2015
No. of the report: 41/2016
Report date: 29.07.2016 18:24
Report legal ground: Art. 17 sect. 1 of MAR – inside information.
Contents of the report
The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) discloses, that it has received information about decision of the President of the Energy Regulatory Office (the "ERO President") concerning the annual adjustment of the stranded costs for the year 2015, which is due to certain generators from PGE Capital Group according to the Act of June 29, 2007 on coverage of stranded costs resulting at generators in relation to accelerated termination of long-term contracts ("LTC Act").
According to the decision of ERO President annual adjustment of the stranded costs generated in PGE Górnictwo i Energetyka Konwencjonalna S.A. for the year 2015 amounts to app. PLN (+)326 million. PGE does not dispute this amount.
The above mentioned decision of the ERO President will not affect the reported revenues and profits of the PGE Capital Group in 2016.