Current reports
Current report no. 16/2014
The judgement concerning legal proceedings on the compensation related to cover stranded costs of the Pątnów Power Plant II for the year 2008
Legal basis:
Art. 56 section 1 point 1 of the Public Offering Act - Confidential information.
Contents of the report:
Zespół Elektrowni ”Pątnów-Adamów-Konin” S.A. (hereinafter referred to as the Company), with respect to the information contained in the Prospectus approved by the Polish Financial Supervision Authority on 8 October 2012 (as modified by Annex No. 2 to the Prospectus), concerning the legal proceedings on the compensation related to cover the stranded costs of the Pątnów Power Plant II Sp. z o.o. (a subsidiary of the Company) for the year 2008, informs that on 22 May 2014, at a closed door hearing, the Supreme Court overruled a judgement of the Court of Appeal in Warsaw of 11 October 2012 and referred the case for the judicial review to this court.
With regard to the judgement of 11 October 2012, the Court of Appeal changed the judgement of the Regional Court in Warsaw – Court of Competition and Consumer Protection of 1 December 2010, which dismissed the appeal of the Pątnów Power Plant II Sp. z o.o. of the decision of a President of the Energy Regulatory Office of 31 July 2009 (hereinafter referred to as the Decision of the ERO President), imposing on the Pątnów Power Plant II Sp. z o.o. the obligation for the adjustment of the stranded costs refund for the year 2008, the amount of PLN 52,493,000. The judgement of the Court of Appeal changed the decision of the ERO President in a way that it set, for the year 2008, the amount of the annual adjustment of stranded costs that Zarządca Rozliczeń S.A. is obliged to pay to Pątnów Power Plant II Sp. z o.o. in the amount of PLN 29,082,473.
As a result of ruling of the Court of Appeal, Zarządca Rozliczeń S.A. paid the Pątnów Power Plant II Sp. z o.o. the adjudged in favour of the company amount of PLN 29,082,473 and refunded this company the amount of PLN 26,493,000, paid in accordance with the decision of the Regional Court in Warsaw – Court of Competition and Consumer Protection of 23 September 2009 on the partial dismissal of the application related to the stay of the execution of the decision of the President of the ERO. Reversal of a judgement of the Court of Appeal means that the legal basis for the payment of the Pątnów Power Plant II Sp. z o.o. of the above mentioned amounts was eliminated.
In the current legal status, the proceedings on stranded costs of the Pątnów Power Plant II Sp. z o.o. return to the judicial review by the Court of Appeal in Warsaw.
Due to the fact that the Supreme Court's judgement was issued at a closed door hearing, the Company has no information on motives for the judgement as well as guidelines submitted to the Court of Appeal. The above information will be known for the Company after the receipt of ruling of the Supreme Court along with a written justification by the Pątnów Power Plant II.
Signatures of persons representing the company:
Anna Striżyk – Vice President of the Management Board
Piotr Jarosz – Vice President of the Management Board