• PGE in transition. Good financial and operating results in 2017, in line with expectations.


    • PGE Group reinforced its top position on the Polish power market and became the largest supplier of district heating.
    • The Group’s total electricity output reached 57 TWh, up by 6% from 2016, with gas-fired generation up by 23%. PGE Group’s assets also produced approx. 25 million GJ of heat.
    • The Group is continuing to post good financial results, generating PLN 3.5 billion in net profit and over PLN 7.6 billion in EBITDA, up by 4% from 2016.
    • Investment expenditures reached PLN 6.8 billion in 2017. New units in Opole are about 90% complete and the new unit in Turów is at approx. 50%.
    • PGE Group is analysing the construction of three gas-fired units with total capacity of 1500 MW.
    • A 1000 MW offshore wind farm project may be built half way through the next decade.
    • Expenditures on adaptation to EU environmental standards, i.e. BAT conclusions, for the entire PGE Group, including new assets, are expected to reach approx. PLN 1.9 billion. This is less than had been expected.
  • PGE Group is shaping the energy of tomorrow


    The market leader is placing clients and the environment at the centre of its district heating strategy

    • PGE will lead environmental changes in the sector, actively supporting the battle for clean air in Polish cities.
    • PGE Group is announcing its District Heating Strategy and intends to cement its position as the leading supplier of competitively priced heat.
    • It plans to manage district heating networks in at least two-thirds of PGE Energia Ciepła’s existing locations by 2023 and build 1000 MW of new cogeneration capacities by 2030, including in new locations.
    • A key business objective in the Strategy is to generate approx. PLN 250 million of additional EBITDA in 2023 and approx. PLN 1 billion from 2030 onwards.
    • Low-emission energy sources are expected to account for 50% of PGE Energia Ciepła’s fuel mix by 2030.
    • PGE will also introduce a new product and service offering tailored to client needs, utilising the innovation potential of district heating.
    • The development of the district heating segment will enhance the security of district heating supplies to millions of Polish homes and will contribute to the economic development of the country.
    District Heating Strategy of PGE Group
  • PGE dominates Poland’s electricity and district heating markets


    • PGE Group has acquired the Polish assets of the French group EDF. The final value of the transaction, which was completed eight weeks ahead of schedule, is PLN 4.27 billion. This is nearly PLN 250 million less than the value of the acquired enterprise as at the end of 2016.
    • The purchase of EDF Polska, which is changing its name to PGE Energia Ciepła, will strengthen PGE’s financial standing. The acquired companies generated approx. PLN 5 billion revenues in 2016, with EBITDA in excess of PLN 1 billion.
    • Thanks to this transaction, PGE Group has become the leader on both the electricity market and the market for the production of eco-friendly district heating, supplied through urban district heating networks.
    • The acquisition of eight CHP plants in the largest Polish agglomerations makes it possible for PGE to expand its geographical presence within the country and gives it access to 4.5 million potential clients.
    • PGE Group will unveil its District Heating Strategy, including development plans for the Rybnik power plant, on 14 December 2017.
    Elektrociepłownia Rybnik
  • PGE Group with very good financial and operating results after three quarters of 2017


    • Total electricity output in the Group increased by 6%, including lignite-based generation by 10%
    • PGE posted very strong net profit of nearly PLN 3 billion, up by 146% y/y
    • The Group is maintaining good trends in operating results, posting solid EBITDA of over PLN 6.1 billion
    • Investment expenditures in this year’s first three quarters reached PLN 4.2 billion. Work progress on the new units in Opole is 86% and 40% on the new unit in Turów
    • Intensive investments in distribution grid expansion and connection of new clients are on-going
  • PGE Group gets green light to acquire EDF Polska


    PGE Group will acquire by the end of 2017 eight CHP plants in the largest Polish agglomerations such as the Tri-City area, Wrocław and Kraków, a power plant in the city of Rybnik in Silesia and nearly 400 km of district heating network in four cities. The Office of Competition and Consumer Protection (UOKiK) has given condition approval for the purchase of the Polish assets of France’s EDF. The approx. PLN 4.5 billion transaction will be one of the largest M&A deals in Poland and Europe in recent years.