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TAURON Group entered Czech electricity exchange

Date: 27.10.2010

Today, Chief Executive Officer of the Power Exchange Central Europe (PXE), a power trade platform, David Kučera, and Presidents of TAURON Czech Energy, Eugeniusz Sawicki and Jiří Michalik – in the presence of the Ambassador of the Republic of Poland in the Czech Republic, Jana Pastwa, and Vice-President of TAURON Polska Energia S.A. Krzysztof Zamasz – officially signed an agreement under which the Polish utility group TAURON commenced its activity on the Czech electricity exchange.

The event is yet another step of realisation of the long-term corporate strategy adopted by the Management Board of TAURON Polska Energia and allowing for, among other things, development of the activity outside Poland.
The Ostrava-based TAURON Czech Energy (a subsidiary entity of TAURON Polska Energia) was established at the end of 2009 and was the first foreign company of the Group. The Company complies with all the procedural and legal requirements, and was registered with the Czech power market operator, OTE a.s. The company employs persons holding qualifications to trade in electricity at commodity exchanges and other available markets as well as cross-border systems. The Company owns appropriate equipment, applies standardised procedures and utilises a risk management system. On the Czech market, it is to operate not only with respect to wholesale but also as a supplier of electricity to end customers. Jiří Michalík, a Member of the Management Board of TAURON Czech Energy, said: ‘Due to the fact that we have our own resources as well as to the size of the holding company, we can offer Czech business partners and customers safe and stable cooperation, independent of local changes on the electricity wholesale market.’
TAURON Czech Energy, s. r. o.
Eng. Eugeniusz Sawicki, Eng., and Jiří Michalik, Eng.
Tel.: +420 552 302 530
- Holds assets in all the elements of the value chain (mining, generation, renewable sources of energy, distribution and supply). TAURON Group incorporates, among others, the following companies: Południowy Koncern Węglowy S.A., Południowy Koncern Energetyczny S.A., Enion S.A., EnergiaPro S.A., Enion Energia sp. z o.o., EnergiaPro Gigawat sp. z o.o., Elektrownia Stalowa Wola S.A., PEC Katowice S.A., EC Tychy S.A., Elektrociepłownia EC Nowa, PEC of Dąbrowa Górnicza, TAURON Ekoenergia sp. z o.o. and TAURON Czech Energy s.r.o.
- Key power engineering holding on the Polish market. It is the largest distributor of electricity in Poland, the second largest generator and supplier. It is also one of the largest companies in Poland. Since June 2010, TAURON Polska Energia has been traded on the Warsaw Stock Exchange.
- It controls 20% of hard coal resources in Poland. Annual output amounts to approx. 4.9 million tons. Installed output of the generating plants belonging to the Group amounts to 5.6 GW.
- It covers 17% of the area of Poland and employs nearly 29 thousand highly qualified employees.
- It supports utilisation of energy generated from renewable sources (in 2009, 0.4 TWh of electricity was generated at hydro-electric power plants, and almost 0.6 TWh was generated from biomass co-combustion).
- In 2009, it generated 18.6 TWh of electricity (which constitutes an approximately 14% share in the Polish market).
- It supplies electricity to over 4 million customers, including over 470 thousand business clients.
- In accordance with the International Accounting Standards, the Group’s net income in 2009 amounted to PLN 898.7 million and the revenues from sales - PLN 13.6 billion. In the first half of 2010, the Group’s net income in 2009 amounted to PLN 573 million and the revenues from sales – PLN 7.3 billion.