Current Report No.: 67/2018
Current Report No.: 67/2018
Date of preparation: 24 December 2018
Short Name of Issuer: ENEA S.A.
Subject: Notification on the preliminary results of the capacity market auction for the year 2023 published by PSE
Legal basis: Article 17(1) MAR - confidential information
Content of report:
With reference to Current Report No. 66/2018, the Management Board of ENEA S.A. ("Issuer", "Company") hereby informs that PSE S.A. published the preliminary results of the capacity market main auction for the year 2023, including the clearing price for the capacity auction of 202.99 PLN/kW/year.
Taking into account the results of the above auction, as well as the results of the auction held on 15 November 2018 the Issuer estimates that the revenue of the ENEA Capital Group from the capacity market may reach in the year 2023:
1) for Unit No. 11 in Kozienice Power Plant (under a 15-year capacity contract) and for the contracted capacity of 915 MW - approx. PLN 220 million;
2) for modernised units (under a 5-year capacity contract) and for the contracted capacity of 2,711 MW - approx. PLN 651 million;
3) for existing units (under a 1-year capacity contract) and for the contracted capacity of 37 MW - approx. PLN 8 million.
Furthermore, the Issuer informs that as a result of the conclusion of the capacity market auction on 21 December 2018, the estimated revenue for a new generation unit (under a 15-year capacity contract) in Elektrownia Ostrołęka Sp. z o.o. may reach an annual average of approximately PLN 173 million.
In accordance with the investment contract concluded on 8 December 2016, ENEA S.A. holds 50% of shares of Elektrownia Ostrołęka Sp. z o.o. and the same number of votes at its shareholders' meeting.
The above capacity obligations for 1-year contracts are not the final results of the capacity auction. The final results of the capacity auction shall be published by the President of the Energy Regulatory Office in the Public Information Bulletin on its website, on the first working day following the 21st day after the end of the capacity auction. Until then all capacity obligation sale contracts are conditional.
At the same time, the Issuer hereby informs that should the final results of the capacity auction differ materially from the preliminary results published herein, the Company will publish a relevant update in the form of a current report.
