Current reports

Current reports

Current reports

Current report no. 5/2016

Conclusion of contracts with entities comprising ENERGA Capital Group which jointly meets the criteria of material contract


Legal basis:

Art. 56 section 1 point 2 of the Public Offering Act - Current and periodic information


Contents of the report:

Zespół Elektrowni "Pątnów-Adamów-Konin" S.A. ("the Company") informs that on 29 February 2016, the Company obtained information that the estimated value of the contracts concluded between entities of the ZE PAK S.A. Group and entities comprising the Energa S.A. Group from 6 November 2015 (i.e. from the date when the Company previously informed about conclusion of contracts with entities comprising Energa Capital Group which joinly meets the criteria of material contract by current report nr 29/2015) to 29 February 2016 amounted to PLN 306 million net.


A contract with the greatest value is the Contract No. 1/2016, signed on 7 January 2016 ("the Contract"), concluded under the Framework Agreement no. 05/0410/99 signed on 31 August 1999 (“Agreement”), between PAK Kopalnia Węgla Brunatnego Konin S.A. („Consumer”) and Energa-Obrót S.A. (“Seller”). The subject matter of the Agreement is selling of electric energy. The Contract specifies the amount and price of electric energy in the period from 1 January 2016 to 31 December 2016. The estimated value of the concluded Agreement is PLN 153 million.


Agreement was concluded for specified time till the 31 December 2017.


In the cases as specified in the Contract, Seller is entitled to charge the Consumer with the amount that may exceed the equivalent of 10% of the estimated Contract value, and the final amount will be calculated based on the estimated use of electric energy, real amount of bought electric energy and price of electric energy. There are no regulations regarding claims exceeding above mentioned amount in the contract.


Other terms of the Contract do not differ from market standards used in this type of contracts.


The criterion for recognition of the concluded contracts as material is the fact that their joint value exceeded 10% of the value of the Company's equity.


Legal basis: § 5 section 1 item 3 and § 9 of the Finance Minister’s Regulation of 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent.


Signatures of persons representing the company:

Tomasz Zadroga – Vice President of the Management Board

Adrian Kaźmierczak - Vice President of the Management Board