Polska Grupa Energetyczna emphasizes that the results for the second quarter of 2024 were influenced by one-off events that increased the reported EBITDA result by a total of approximately PLN 0.30 billion. – The result for the period was mainly influenced by the non-monetary change in the amount of the provision for claims, which resulted in an increase in the EBITDA result by PLN 0.39 billion, and the recognition of impairment losses on receivables from PKP Cargo, which resulted in a decrease in the EBITDA result by PLN 0.11 billion – the company emphasizes in the report.
The higher year-on-year profit is also a result of the PGE ending this year the so-called payment of fees on profits to the Price Differences Payment Fund and maximum energy price limits.
PGE operational data
According to preliminary estimates, net electricity production in the second quarter of 2024 at the generating units of the PGE Group was 12.9 TWh, the distribution volume was 9.4 TWh, the sales volume to end customers was 7.9 TWh, and the heat sales volume was 6.4 PJ.
There is a trade-off. The renewable energy obligation will be higher than now, but lower than planned.
A regulation on the level of the obligation to redeem green certificates has been published in the Official Gazette. Instead of the 12% proposed by the Ministry of Climate and Environment, this level will be 8.5% in 2025. It is currently 5%. The obligation to define this obligation several years in advance, which was important for the renewable energy industry, has also been abandoned.
In the case of production volume, this represents an increase of 12.3 TWh compared to the 2nd quarter of 2023. The volume of distributed electricity was then at the level of approximately 9.4 TWh, the sale of electricity to end users was approximately 8.6 TWh. the volume of heat sales was 8.2 PJ.
