PGE Group published its financial and operating results for the first quarter of 2020. The green direction followed by the Group contributes to the Group's financial performance and mitigates the impact of market pressure on conventional sources.
The Management Board of PGE Polska Grupa Energetyczna has decided to terminate projects and programmes planned for the years 2020-2030 that do not bring expected benefits for the PGE Group. The total value of these undertakings exceeds the amount of PLN 1 billion.
The Management Board of PGE Polska Grupa Energetyczna decided to close projects with unsatisfactory rate of return, in particular those not directly related to the core business of the Group, and obliged all PGE Group companies to optimization and rationalization activities.
PGE Group's EBITDA with strong support from free EUA allowances. Net profit under pressure from impairment losses in Conventional Generation segment.
Wojciech Dąbrowski, President of the Management Board of PGE Polska Grupa Energetyczna, was appointed to the position of the President of the Management Board of the Polish Electricity Association (PKEE).