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The President of the Energy Regulatory Office allowed the PGE’s appeal with regard to the adjustments of LTC compensations for 2011

  • No. of the report: 52/2012
  • Report date: 25.09.2012
  • Report legal ground: Art. 56 section 1 p. 1 of Act on Public Offering – confidential information

Contents of the report

In connection with the current report no 45/2012 dated August 2, 2012 about the decisions of the President of the Energy Regulatory Office (the “ERO President”) concerning annual adjustments of LTC compensations for 2011, the Management Board of PGE Polska Grupa Energetyczna S.A. discloses that it has received information that on September 21, 2012 the ERO President issued two decisions in self-control course (i.e. pursuant to art. 479(48) § 2 of the Code of Civil Procedure) that allowed the appeals filed by PGE Górnictwo i Energetyka Konwencjonalna S.A. („PGE GiEK S.A.”) on August 16, 2012 against the decisions of the ERO President settling the annual adjustment of LTC compensations for PGE GiEK S.A. as a legal successor of PGE Elektrownia Turów S.A. and PGE Elektrociepłownia Rzeszów S.A. ("GiEK LTC 2011") and the annual adjustment of LTC compensations for PGE GiEK S.A. as a legal successor of PGE Elektrownia Opole S.A. ("ELO LTC 2011")

After acquainting with the above appeals GiEK LTC 2011 and ELO LTC 2011, the ERO President, pursuant to art. 479(48) § 2 of the Code of Civil Procedure:
1) changed the GiEK LTC 2011 decision from PLN (-) 425,562,302 to the amount claimed in appeal: PLN (-) 84,949,258;
2) changed the ELO LTC 2011 decision from PLN (-) 104,033,182 to the amount claimed in appeal: PLN (+) 1,190,520.

The decisions are executable in the statutory period i.e. by September 30, 2012. As a result of above decisions, the appeals GiEK LTC 2011 and ELO LTC 2011 filed on August 16, 2012 will not be submitted to the court.

Along with the GiEK LTC 2011 and ELO LTC 2011 appeals, PGE GiEK S.A., as a legal successor of PGE Elektrociepłownia Rzeszów S.A., also appealed against the decision of the ERO President regarding adjustment relating to the cost of use of the gas collected and cost of the non-collected gas for 2011 (“GiEK ECRG 2011”). According to the information held by PGE, the ERO President did not find grounds for applying art. 479(48) § 2 of the Code of Civil Procedure in GiEK ECRG 2011 case, and as a result submitted the GiEK ECRG 2011 appeal to the District Court in Warsaw - the Court of Competition and Consumer Protection. The claim value in GiEK ECRG 2011 case amounts to approximately PLN 6 million.

Legal ground: Art. 56 section 1 point 1 of the Act on public offering, conditions governing the introduction of financial instruments to organised trading, and public companies (Dziennik Ustaw 2009 no 185, item 1439, as amended).
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