10.04.2015 14:10

​In reference to current report No. 1/2012 of 5 January 2012, current report No. 37/2012 of 7 November 2012, current report No. 42/2013 of 15 October 2013 and current report No. 30/2014 regarding turnover between TAURON Group's companies and Polskie Sieci Elektroenergetyczne S.A. (PSE), the Management Board of TAURON Polska Energia S.A. (Issuer) informs that on 10 April 2015, following receipt of documents from PSE concerning provision of services to companies from the TAURON Group, settlement was carried out with PSE Group's companies, which showed that the net turnover generated between TAURON Group's companies and PSE Group's companies from the date of the above mentioned current report No. 30/2014, i.e. from 8 July 2014 amounted to approx. PLN 2,025 million (out of which approx. PLN 1,272 million constitute costs for the TAURON Group and approx. PLN 753 million constitute income) and exceeded 10% of the Issuer's equity.

The highest turnover (i.e. approx. PLN 1,170 million net) was generated under agreement No. UPE/OSD/TAUD/2014 dated 16 December 2013 concluded between TAURON Dystrybucja S.A. and PSE (Agreement). The subject of the Agreement is provision by PSE of transmission services understood as transport of electricity through transmission grid. The Agreement was concluded for an undefined period.

Estimated value of the Agreement over 5 years from its conclusion is approx. PLN 7,478 million. The services are cleared in line with the terms and conditions and charges approved by the President of the Energy Regulatory Office defined in the tariff and in accordance with the provisions of Instruction for Transmission System Operation and Maintenance (IRiESP). The Agreement does not include liquidated damages. The Agreement does not include conditions precedent or subsequent.

Specific legal basis: § 5 section 1 item 3 and § 9 of the Decree of the Minister of Economy dated 19 February 2009 regarding current and periodic information disclosed by issuers of securities

Article 56 section 1 item 2 of the Act on public offering - current and periodic information

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