Locked content PGE completes EDF assets takeover

WSE-listed power utility finalized the purchase of Polish assets of French utility EDF for PLN 4.27 billion. The price includes PLN 2.45 billion in equity, the intra-group debt of PLN 1.68 billion, as well as interest. The price is slightly lower than the PLN 4.51 billion price tag announced back in...

Locked content PGE confirms Q3 profit

WSE-listed, state-controlled power utility PGE confirmed its previous estimates of PLN 1.46 billion net profit in Q3. The result is 123 percent better than last years’. EBITDA was likewise confirmed at PLN 2.66 billion, up by 62.1 percent y/y. The result was boosted by a one-off set of strande...

Locked content PGE to deliver PLN 57 mln worth of electricity to Kraków in 2018

Energy provider PGE Obrót will deliver electrical energy to the city of Kraków in 2018 for a total of over PLN 57 million. The company will be providing electricity to municipal offices, schools, kindergartens, nurseries, as well as for city lighting. The volume of electricity sold will amount to 21...

Locked content PGE with PLN 6.1 bln EBITDA after Q3

After the first nine months of the year, energy giant PGE posted an estimated EBITDA of PLN 6.108 billion and PLN 2.96 billion in net profit of the dominant company, the firm stated. According to preliminary estimates, over the first nine months of the year the company produced 41.5 TWh of electrici...

Locked content PGE with a PLN 310 mln contract with national grid operator

National energy grid operator PSE has signed a PLN 310 million deal with PGE Górnictwo i Energetyka Konwencjonalna, a company from the PGE group, to purchase electric energy that will cover the energy transfer losses that will be sustained in 2018, PSE stated. Such agreements are signed each year to...

Locked content PGE secures conditional UOKiK approval for EDF purchase

The anti-trust watchdog UOKiK, granted the conditional approval to WSE-listed power group PGE for the takeover of the Polish assets of EDF. In return, PGE will have to sell all power from the Rybnik power plant (roughly 25 percent of all the generated power) on the power exchange TGE until 2021. “Ex...

Locked content PGE submits its proposals to clear the takeover of EDF assets

According to Rzeczpospolita daily, PGE has submitted proposals to antitrust watchdog UOKiK which would allow it to takeover the Polish assets of EDF. The proposal includes: selling the coal-fired plant in Rybnik, letting someone else manage it, or increasing the mandatory 15 percent threshold of ene...

Locked content PGE Opole plant to be delayed?

The consortium consisting of Polimex-Mostostal, Mostostal Warszawa and Rafako, which is building the PGE coal-fired power blocks in Opole asked to extend the planned completion date by 3-5 months, PGE said in a market filing. If approved, it would put back completion of unit 5 from July 31 to Decemb...