Current reports
Current report no. 27/2023
Change in the expected operating life of coal assets
Legal basis:
Art. 17 sec. 1 MAR – inside information
Contents of the report:
The Management Board of ZE PAK SA („Company”) informs that the Supervisory Board of the Company has consented to the signing of an agreement by the Company regarding the implementation of an investment project aimed at reducing air emissions, including primarily mercury and dust in the exhaust gases of the boiler of the 474 MW unit at Pątnów Power Plant.
The estimated value of the contract is approximately PLN 19 million. The investment task is aimed at adapting the 474 MW unit at Pątnów Power Plant to environmental standards related to BAT (Best Available Technology) conclusions.
The consent of the Supervisory Board described above is important from the point of view of the expected period of operation of coal assets in ZE PAK Group. So far, the base scenario assumed the exploitation of coal assets until the end of 2024. However, the Company did not rule out extending this period in the event of changes in the broadly understood environment, with particular emphasis on the possibility of extending the period of support for coal assets in the form of the Capacity Market. Currently, the Company sees significant reasons for the possibility of regulatory changes leading to an extension of the period of support in the form of the Capacity Market for coal assets in Pątnów Power Plant. The Company is also aware of the importance of the generation assets at Pątnów Power Plant from the point of view of the needs of the National Energy System.
Making a decision regarding the implementation of the investment task described above also means extending the previously expected period of operation of the Group's coal assets. It should be emphasized that the decision concerns the extension of the operation of the last currently exploited Tomisławice open pit and one of the most effective coal-fired units with a capacity of 474 MW at Pątnów Power Plant.
Signatures of persons representing the Company:
Piotr Woźny – President of the Management Board
Maciej Nietopiel – Vice President of the Management Board
Katarzyna Sobierajska – Vice President of the Management Board