Locked content Energa reverses PLN 138 mln impairment

WSE-listed power utility Energa has reversed its PLN 138 million impairment on generation units and as a result, expects its net profit for 2017 to be boosted by PLN 114.9 million. “As a result of impairment tests carried out for the fourth quarter of 2017, we’ve increased the recoverable value of w...

Locked content Tchórzewski: power block in Ostrołęka will be built

According to the Minister of Energy Krzysztof Tchórzewski, state-run power utilities Enea and Energa will go through with the construction of the 1,000 MW power block in Ostrołęka despite bids for its construction exceeding the budget set by utilities. “I don’t think so,” Tchórzewski said when...

Locked content Energa with PLN 500 mln EBIDTA in Q3

Energy firm Energa recorded consolidated EBITDA of PLN 500 million in Q3 2017 and of PLN 1.643 billion for the first nine months of the year, according to the company’s estimates. The group produced 1,059 GWH of energy in Q3, distributed 5,446 GWh and sold 5,092 GwWh of power in Q3 of the year…...

Locked content Energa gets PLN 166 mln funding for smart grid project

WSE-listed, state-owned utility Energa signed a co-financing deal with the Energy Ministry for the development of a smart grid, the company said in a market filing. The project, with an estimated cost of PLN 240.6 million, will receive PLN 166.3 million in state funding. “This is a tremendous suppor...

Locked content Energa plans terminating deals with renewable firms

WSE-listed power utility Energa plans to annul 22 framework deals with renewable energy peers regarding purchasing of the certificates of origin. The company hopes that it will bring PLN 110 million profit next year, and some PLN 2.1 billion in the future, Energa said in a market filing. According t...

Locked content Energa expects PLN 150 mln boost from the new law on renewables

WSE-listed power utility Energa expects to increase its next year’s earning by PLN 150 million due to a new bill on renewables which affects the pricing of certificates of origin, the company said in a market filing. The forecast was built on a substitution fee estimated at PLN 43 per MWh, and inclu...

Locked content Energa to halve the number of subsidiaries

WSE-listed utility Energa plans to trim the number of its subsidiaries, to 22 from the current 48, by the end of Q3 2018, the company’s CEO Daniel Obajtek said. “We have to move towards concentration. Our companies need to increase competencies, employ more people, not only managerial staff but also...