Locked content Polish power giants to create a joint venture – UOKiK

Poland’s Office of Competition and Consumer Protection (UOKiK) has approved a joint venture by five electricity distributors: Enea Operator, Energa Operator, PGE Dystrybucja, RWE Stoen Operator, Tauron Dystrybucja. “The joint venture will be responsible for maintaining, operating and developin...

Locked content Tauron will not pay out dividend

Poland’s second biggest power group Tauron will not pay out PLN 0.1 dividend per share, with shareholds voting down a management recommendation, the Polish Press Agency informed. “The shareholders’ decision will certainly not be harmful for the company – on the contrary, toda...

Locked content Tauron with net loss of PLN 2.88 bln in Q4

Listed power group Tauron posted an attributable net loss of PLN 2.88 billion in Q4 2015 due to PLN 3.57 billion in impairments, the company said. Last year in the same period, the group posted a profit of PLN 132.19 million. EBITDA amounted to PLN 683.23 million compared with PLN 769 million a year...

Locked content Tauron plans PLN 1.3 bln saving in years 2016-2018

Power utility group Tauron expects PLN 1.3 bln savings in years 2016-2018 under a new efficiency program. The company expects EBITDA to grow by around PLN 1 bln in 2016-2018, including PLN 400 mln in 2018, the group said in a statement. Nearly half of the savings (PLN 786 million) are to come from t...

Locked content Tauron will present new strategy in Q2

Power utility Tauron will present a new strategy that will guarantee “a good future and a stable supply of energy to the Polish energy system,” before the end of Q2, Tauron CEO Remigiusz Nowakowski told a news conference in Jaworzno. Nowakowski also said he hopes for the introduction of ...

Locked content Chinese bank ICBC signs $1.6 bln loan deal with Tauron

The Industrial and Commercial Bank of China (ICBC) and six other banks have signed an agreement to make a 10 billion yuan ($1.57 billion) syndicated loan to Polish power firm Tauron Group, Reuters reported. The agreement was signed in Warsaw, ICBC said in an e-mailed statement. It did not name the o...

Locked content Tauron signs PLN 6.27 bln bonds program with banks

Power utility Tauron has signed a PLN 6.27 bln bond program with Polish & foreign banks allowing for its potential increase to PLN 6.5 bln, the Polish Press Agency (PAP) informed. Tauron will use the money from the bond issue to cover its investment program, refinance debt and finance the genera...

Locked content Tauron with PLN 400 mln financing from BGK

State owned development bank, BGK has signed an annex to a deal, stipulating that the public lender will purchase PLN 400 million bonds issued by power utility Tauron Polska Energia. The total value of the bond issue program guaranteed by BGK amounts to PLN 1.7 billion. Bonds maturing between 2020 a...

Locked content SRK calls tender for Brzeszcze mine

State-owned mining restructurization company (Spółki Restrukturyzacji Kopalń – SRK) has announced a tender for the troubled Brzeszcze coal mine in order to satisfy demands by potential buyer – power utility Tauron. The deadline for making offers expires on September 10, the sale is to be compl...

Locked content Tauron’s H2 profit falls by PLN 12 mln

Utility Tauron Polska Energia reported  PLN 718,52 million of consolidated net profit in the first half of 2015, which is lower than PLN 730,29 million from last year. The net profit from retail amounted to PLN 1.53 billion in the first six months of 2015, as opposed to PLN 1.08 billion from last ye...