Current Report No.: 73/2022

Title: Information on approval by the ERO President of the electricity tariff for Tariff Group G
Date: 2022.17.12
Report no.:  Current Report No.: 73/2022

Current Report No.: 73/2022

Date of Preparation: 17 December 2022

Issuer's Abbreviated Name: ENEA S.A.

Subject: Information on approval by the ERO President of the electricity tariff for Tariff Group G

Legal Basis: Article 17(1) of the Market Abuse Regulation - inside information

Body of the report:

The Management Board of ENEA S.A. ("Issuer", "Company") hereby reports that on 17 December 2022 it received information about the approval, earlier the same day, by the President of the Energy Regulatory Office ("ERO President") of electricity tariffs for Tariff Group G for the period from 1 January 2023 to 31 December 2023 ("Tariff").

The ERO President approved the ENEA S.A. electricity sales price for Tariff Group G consumers at the average level of PLN 1,050.58 per MWh, after the prior downward correction of the Tariff specified in the first application submitted by the Issuer, introduced in response to the ERO President's request.

The approved Tariff is higher compared to the corresponding tariff in force in 2022, yet its value will not enable the Company to fully cover its estimated justified electricity purchase costs based on the contracts already executed and the valuation of its open position. Accordingly, the Issuer has evaluated the impact of the approved Tariff on its operations and has identified a potential loss in the trading segment due to the performance of contracts with Tariff Group G customers in 2023, which as at 17 December 2022 is estimated at approx. PLN 400 million and may result in the establishment of a provision in the financial statements for 2022.

Bearing the foregoing in mind, the Company intends to submit an application to the ERO President in the near future for a change in the Tariff. The value of the provision to be established will depend on the electricity contracting prices for the open position for 2023 and on a decision to be made by the ERO President on the potential approval of the Issuer's new Tariff application. The final value of the provision will be disclosed in the Issuer's report for 2022.


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