With reference to the current report no. 35/2020, the Management Board of PGE Polska Grupa Energetyczna S.A. ('PGE') notifies that on December 17, 2020 PSE S.A. published preliminary results of the main capacity auction for year 2025, including the clearing price of 172.85 PLN/kW/year. The price of capacity obligation in multi-year contracts will be adjusted every year with the annual average consumer price index.

At the same time, the Management Board of PGE discloses that total capacity obligation of 364.15 MW has been ultimately contracted for generation units owned by PGE Group, including:

- 161.6 MW for modernized units with 7-years capacity contract

- 202.55 MW for existing units with 1-year capacity contract

The above clearing price is not a final result of power market auction. Final results are to be published by the President of Energy Regulatory Office on its website (in the section Biuletyn Informacji Publicznej) on the first business day following 21st day after the close of capacity auction. Until then all capacity obligation contracts are conditional. PGE will update this current report only if the final results of capacity market turn out substantially different from preliminary results.

Total capacity obligation contracted for generation units owned by PGE Group for the year 2025, including long-term obligations contracted in the auctions for the years 2021-2024, amounts to 10 037 MW.

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PGE - Polska Grupa Energetyczna SA published this content on 17 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 December 2020 17:06:02 UTC