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Conclusion of the agreement by the subsidiary company of KOGENERACJA S.A. with ORLEN S.A. for the supply of gas fuel

32/2024

01.07.2024 19:41

Art. 17 sect. 1 of MAR – inside information.

Contents of the report

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The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) discloses that the Management Board of Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. informed that on July 1, 2024 its subsidiary - Elektrociepłownia „Zielona Góra” S.A. concluded a framework agreement with ORLEN S.A. for the comprehensive sale of gas fuel in the distribution system (the “Agreement”) together with an individual contract to the Agreement.

The framework agreement was concluded for an indefinite period, while the individual contract provides for gas fuel deliveries from July 2, 2024 to January 1, 2037.

The estimated value of the individual contract during its validity period, determined on the basis of gas market prices and distribution rates, amounts to a total of PLN 6.3 billion net. The basis for calculating the price formula in the individual contract will be variable components based on quotation of gas price indexes, taking into account the conditions of gas supplies from local deposits.

The agreement is secured by a bank guarantee for the amount of PLN 33 million and a surety provided by PGE in the amount of PLN 40 million.

Signatures of persons representing the company

Date Name Position and function
2024-07-01 Marcin Laskowski Vice-President of the Management Board
2024-07-01 Maciej Górski Vice-President of the Management Board