Current Report No.: 2/2025

Current Report No.: 2/2025

 

Date of Preparation: 22 January 2025

 

Issuer's Abbreviated Name: ENEA S.A.

 

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

 

Subject: Signing of annexes to long-term coal supply agreements between subsidiaries of ENEA S.A.

 

Body of the report:

The Management Board of ENEA S.A. ("Company", "Issuer") hereby reports that on 22 January 2025 it was informed about the signing of annexes to the following long-term agreements:

 

a) No. UW/LW/01/2012 of 23 January 2012 for the supply of steam coal, signed by Lubelski Węgiel "Bogdanka" S.A. ("LWB") and ENEA Wytwarzanie sp. z o.o. ("EW") for the period until 31 December 2036 ("EW Agreement"); and

 

b) No. 3/W/2012 [LW 853/W/2012] of 12 July 2012, signed by LWB and ENEA Elektrownia Połaniec S.A. ("EEP") for the period until 31 December 2029 ("EEP Agreement", and hereinafter together with the "EW Agreement", the "Agreements".

 

Below, the Company sets out the main changes to the commercial terms and conditions of the Agreements as set out in the annexes to the EW Agreement and the EEP Agreement ("Annexes):

 

1) the term of the EEP Agreement and steam coal deliveries effected on its basis was extended until the end of 2033 (previously the end of 2029);

 

2) the new coal supply volumes were agreed on:

 

a. in the case of the EW Agreement - for the period from 2025 to 2036;

 

b. in the case of the EEP Agreement - for the period from 2025 to 2033;

 

3) the new coal prices were set for 2025,

 

4) as a result of the change in prices, volumes and - in the case of the EEP Agreement - the supply period, the total value of the Agreements also changed:

 

a. in the case of the EW Agreement, the estimated net value of the agreement in the period from 2025 to 2036 after signing the Annex is PLN 15,967 million.;

 

b. in the case of the EEP Agreement, the estimated net value of the agreement in the period from 2025 to 2033 after signing the Annex is PLN 3,400 million.

 

The Issuer also reports that on 11 December 2024 it delayed the publication of inside information regarding the submission by ENEA Trading Sp. z o.o., acting on behalf and for EEP and EW, of a request to LWB for renegotiation of the above-mentioned long-term coal supply agreements (the EEP Agreement and the EW Agreement).