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TAURON Group’s H1 2014 results top market expectations

8/21/2014
Sales revenue was PLN 22bn, while EBITDA reached PLN 1.99bn EBITDA margin was 21.6 percent, while EBIT margin reached approx. 11.7 percent Segments that made the largest contribution to the company’s earnings: Distribution (EBITDA: PLN 1.17bn) and Supply (EBITDA: PLN 392m) Generation’s EBITDA increased 4.5 times (from 28 to almost PLN 127m), while Renewable Energy Sources’ segment improved its earnings...

TAURON Group posts sound Q1 results despite a challenging market environment

5/14/2014
Q1 2014 sales revenue was PLN 4 887m and EBITDA reached PLN 1 088m. EBITDA margin was 22.3 percent, whereas EBIT margin reached approx. 13 percent Efficiency improvement program underway generated approx. PLN 100m of savings in Q1 2014. Q1 2014 CAPEX reached PLN 565m. Investment highlight of this year is the signature of the agreement for the construction of a 910 MW unit at Jaworzno III Power Plant....

TAURON Wytwarzanie and PSE signed agreement for cold reserve

4/4/2014
376 MW capacity of Siersza and Stalowa Wola power plants belonging to TAURON Wytwarzanie was selected in tender for cold reserve organized by PSE (Polish Transmission System Operator). The agreement was signed on 26 March. The Transmission System Operator announced tender for purchase of cold reserve due to forecasted capacity balances showing possible electricity shortage of capacity surplus required...

TAURON Group: State-of-the-art unit built in Tychy

4/4/2014
TAURON Ciepło builds a CHP unit at Tychy generation plant. The 50 MW e / 86 MW t unit will produce heat and electricity in highly effective cogeneration. The ceremony for laying of the foundation stone for the PLN 618 million worth investment took place on 29 March and was participated by, among others, Prime Minister Donald Tusk and Deputy Prime Minister Elżbieta Bieńkowska. - The unit that will...

TAURON: Gas transmission to new unit at Łagisza power plant secured

4/4/2014
On 1 April TAURON Wytwarzanie and GAZ-SYSTEM signed agreement for connection of 413 MW CCGT unit that will be constructed at Łagisza power plant to the transmission grid. The connection should be ready within 52 months. - Signing connection agreement is a key element in the timeline of CCGT unit construction at Łagisza power plant – said Stanisław Tokarski , Vice-President of TAURON Polska Energia...

Higher profitability of TAURON Group in 2013

3/18/2014
2013 reported EBITDA was slightly lower than in 2012, reaching PLN 3.66bn. Excluding one-off events (impairment charges related to the value of generation assets and color certificates, provision for the shortage of CO 2 emission allowances) EBITDA would be PLN 4.27bn, i.e. an increase versus adjusted – comparable – 2012 EBITDA of almost 30 percent year-on-year . Higher margins generated in 2013....

Increased profitability of TAURON Group in the first three quarters of 2013

11/14/2013
EBITDA reported for the first nine months of 2013 close to last year’s EBITDA - approx. PLN 3bn. Excluding significant one-off events (impairment charges) EBITDA reported would be PLN 3.3bn which means an increase versus comparable 2012 EBITDA (adjusted by the revenue due to the LTC compensations) of approx. 25 percent year-on-year Growing margins: EBITDA (up 4.2 p.p. to 21.1 percent), EBIT (up 2...

TAURON awarded in “The Best Annual Report 2012” competition

10/28/2013
TAURON Polska Energia has been awarded the second main prize for the annual report of the TAURON Group for the year 2012 in “The Best Annual Report 2012” competition. In addition, the company also received two honorable mentions: for the use value of the annual report and for the best report on the operations of the company. The gala was organized by the Institute of Accounting and Taxes and held...

TAURON opens Marszewo wind farm

10/21/2013
The 82 MW Marszewo wind farm (West Pomerania Province) is now among the RES-based generation units of the TAURON Group. Opening of the third largest wind farm in Poland took place on 18 October. The 82 MW wind farm is located in Postomino municipality, Sławno county, on the East end of West Pomerania Province. Annual output of the farm is planned to reach almost 184 thousand MWh, which meets the demand...

TAURON 17th biggest company in CEE

9/4/2013
TAURON Polska Energia went one place up and is now No. 17 on the list of 500 Biggest Companies in Central and Eastern Europe prepared by Rzeczpospolita daily and Deloitte. TAURON is also among the TOP 25 largest listed companies. This is yet another move up in the ranking. Last year TAURON was on 18 th and two years ago 23 rd place. TAURON achieved their high position mainly thanks to increased sales...

Stable financial results of TAURON Group in the first half of 2013

8/22/2013
H1 2013 net profit of PLN 890.6m, i.e. close to last year’s earnings Group’s H1 2013 EBITDA slightly lower than last year: a 1.4 percent drop – to PLN 2.05bn Strong margin improvement year-on-year: EBITDA margin increased by 4.2 percent – to 21.1 percent, EBIT margin and net margin increased by 2 percent to 12.2 and 9.2 percent respectively, at the end of H1 2013 Sales revenue of PLN 9.7bn versus...

TAURON: Another PLN 5 bn from bond issue

8/1/2013
On 31 July 2013 TAURON Polska Energia, ING Bank Śląski, Bank Polska Kasa Opieki and BRE Bank signed agreement for bond issue program for the total value of up to PLN 5 billion. This is the second bond issue agreement signed by TAURON that day – earlier, the company signed agreement for arrangement and underwriting of a PLN 1 billion worth bond issue with Bank Gospodarstwa Krajowego (Poland’s state-owned...

TAURON to acquire PLN 1 bn from bond issue

8/1/2013
On 31 July 2013 TAURON Polska Energia and Bank Gospodarstwa Krajowego (Poland’s state-owned bank) signed agreement for arrangement and underwriting of a PLN 1 bn worth bond issue. The purpose of the bond issue is to finance investment expenditures related to execution of TAURON Group’s development strategy until 2020. To date the TAURON Group cooperated with commercial banks and multilateral institutions...

TAURON: Construction of 50MW unit at Bielsko-Biała completed

7/17/2013
Construction of 50 MW e / 106 MW t coal-fired heating unit with heat accumulator at Elektrociepłownia Bielsko-Biała of TAURON Wytwarzanie has been completed. The combined heat and power unit was built using best available techniques and its regular operation is scheduled to start this fall, together with the start of the heating season. The investment worth over PLN 617 million started at the end...

TAURON to start energy storage

7/3/2013
TAURON Dystrybucja signed a memorandum of understanding with American company Altairnano that defines cooperation in the scope of stationary energy storage systems and power stabilization systems based on lithium titanate batteries. The companies signed the memorandum of understanding that defies the initial analysis needed to determine the scope of implementation of a pilot demonstration system....

TAURON Group’s profit increases in Q1 2013

5/9/2013
Net profit increased by almost 50% from nearly PLN 395m in Q1 2102 to close to PLN 580m this year. Net margin went up from 6.1 percent to 11.2 percent. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) grew over 25% and reached more than PLN 1.2bn in Q1 2013 vs. PLN 975m in Q1 2012. At the same time EBITDA margin went up from 15.1 percent last year to 23.7 percent in Q1 2013....

TAURON Group’s good results in 2012

3/15/2013
TAURON Group’s revenue in 2012 amounted to over PLN 24.7bn, i.e. almost 20% more than a year ago when TAURON’s revenue was PLN 20.8bn. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) grew in 2012 by 25.6% and reached over PLN 3.8bn vs. nearly PLN 3.1bn in 2011. At the same time EBITDA margin went up from 14.7% last year to 15.5% in 2012. Net profit increased by almost 22% from...

Coal supplies for 3 years

3/5/2013
On 1 March TAURON Polska Energia and Kompania Węglowa signed agreement for coal supply to TAURON Group companies. The value of the agreement is estimated at PLN 2.4 bn. The agreement supersedes the previous agreement signed in 2010. The TAURON Group is one of the largest consumers of hard coal in Poland. Approx. 90% of electricity generation is based on this fuel, so long-term contracts that guarantee...

TAURON and China’s BIT started cooperation on implementation of new technologies

2/4/2013
On 3 February 2013 TAURON Dystrybucja – a TAURON Group’s company, and BIT Huachuang Electric Vehicle Technology (China) signed cooperation agreement. The purpose of the project will be to use fixed and mobile power infrastructure to store electric energy, which would help stabilize operation of the power grid as well as low-emission electrically-driven transportation. The system developed under this...

Another merger of TAURON subsidiaries

2/1/2013
On 31 January TAURON Obsługa Klienta Sp. z o.o. (TOK, customer service company) with its registered office in Wrocław merged with TAURON Obsługa Klienta GZE Sp. z o.o. (TOK GZE, customer service company) with its registered office in Gliwice. TOK took over all rights and liabilities of TOK GZE. The merger, similar to previous mergers in the Group, is in line with TAURON’s strategy stipulating simplification...

Tender for 910MW at Jaworzno power plant has been awarded

1/24/2013
On 24 January the Management Board of TAURON Wytwarzanie, a TAURON’s subsidiary, approved the recommendation of the tender committee that was to select the contractor for 910MW unit with supercritical parameters at Jaworzno III power plant. The winning bid was that submitted by the consortium of Rafako SA – Mostostal Warszawa SA. According to schedule, the contract should be signed in Q2 2013. Construction...

TAURON Group to increase operational efficiency

1/15/2013
Following completion of the first efficiency improvement program which brought PLN 1bn OPEX reduction over 2010-2012 the TAURON Group is launching another one. Its execution over 2013-2015 should bring approx. PLN 860m OPEX reduction. The efficiency improvement program for 2010-2012 covered all segments and referred to many aspects of the Group’s operation, including the very popular Voluntary Redundancy...

TAURON and PGNiG want to build another gas-fired unit

12/31/2012
On 19 December 2012 TAURON Polska Energia and Polskie Górnictwo Naftowe i Gazownictwo signed a letter of intent concerning construction of approx. 400MW gas-fired CHP unit in the area belonging to TAURON’s Łagisza power plant. The parties declared cooperation in the scopes of construction and operation of the unit as well as electricity trading. The gas-fired CHP unit at Łagisza would be the second...

Improvement of TAURON Group’s financial results in Q3 and for the first three quarters of 2012

11/13/2012
TAURON Group’s revenue in the first three quarters of 2012 amounted to over PLN 18.2bn, i.e. approx. 20.1% more than in the same period last year when TAURON’s revenue was PLN 15.2bn. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) grew in Q1-Q3 2012 by almost 30% and reached nearly PLN 3.1bn vs. PLN 2.4bn a year ago. At the same time EBITDA margin for Q1-Q3 went up from 15.6%...

TAURON enters gas trading market

10/24/2012
On 19 October, President of Polish Energy Regulatory Office (ERO) approved gas tariff for TAURON Polska Energia. This decision is the green light for establishing gas trading segment in TAURON Group. The tariff is approved for a period of 12 months counting from its implementation by the company. Tariff approval for trading in gas means that TAURON will now act on the one hand as the buyer from suppliers...

Polska Miedź buys green electricity from TAURON

10/24/2012
KGHM Polska Miedź bought electricity generated from renewable sources. It is the ”greenest” product on the market at the moment – in 100% generated from renewable energy sources – hydroelectric power plants belonging to TAURON Polska Energia. KGHM will buy 150,000 MWh of “green energy” offered as EKO Premium product in the years 2012 and 2013. The purchased electricity will be used to cover the needs...

Even more Positive Energy Homes

10/15/2012
Eighth edition of TAURON Polska Energia’s campaign “Positive Energy Homes” whose aim is to help orphanages in the territory of the Group’s operations has finished. On 11 October during the Great Final five winners received checks for PLN 50 thousand each. In addition, the jury awarded two special prizes of PLN 10 thousand each. This year’s edition started in April. The organizers – TAURON Polska Energia,...

Merger of TAURON Group’s distribution companies

10/1/2012
On 1 October 2012 merger of TAURON Dystrybucja SA with its seat in Kraków and TAURON Dystrybucja GZE SA with its seat in Gliwice was registered. As a result, TAURON Dystrybucja took over rights and obligations of TAURON Dystrybucja GZE (including agreements with customers). All agreements concluded by TAURON Dystrybucja and TAURON Dystrybucja GZE before the merger remain in force and no amendments...

Individual investors visit Tauron

9/10/2012
On 6 September Tauron Polska Energia organized Individual Investors’ Day. On that day, individual shareholders had a chance to see the operations of the company, selected assets and meet members of the Management Board. It was the first event of its kind organized by a company listed in the Polish WIG20 index. The event was organized in cooperation with Individual Investors’ Association. Individual...

Four companies signed letter of intent concerning construction and operation of the first Polish nuclear power plant

9/5/2012
PGE Polska Grupa Energetyczna, TAURON Polska Energia, KGHM Polska Miedź and Enea today signed a letter of intent concerning purchase of shares in the special purpose vehicle established for construction and operation of the first Polish nuclear power plant. According to the letter the companies will work on developing a draft agreement for purchase of shares in PGE EJ 1 sp. z o.o. – a special purpose...

TAURON and KGHM set up a special purpose vehicle to build a gas fired power generation unit

9/5/2012
KGHM Polska Miedź and TAURON Wytwarzanie, a subsidiary of TAURON Polska Energia, set up a special purpose vehicle (SPV) under the name of Elektrownia Blachownia Nowa on September 5. The SPV will carry out the complete implementation of the investment project that will include preparing, constructing and operating an approx. 850 MW CCGT unit erected at the site owned by TAURON Group’s generation subsidiary,...

Good Q2 and H1 2012 results

8/23/2012
TAURON Group’s revenue in H1 2012 amounted to over PLN 12.3bn, i.e. 19.2% more than in the same period last year when TAURON’s revenue amounted to PLN 10.3bn EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) grew faster than revenues – in H1 2012 it increased by 26.5% and reached almost PLN 2.1bn vs. PLN 1.6bn a year ago. EBITDA margin was 16.8% 22% net profit increase from PLN...

Five companies signed joint agreement for shale gas exploration

7/9/2012
According to the agreement, joint works will be carried out under Wejherowo license held by PGNiG at the pads: Kochanowo, Częstkowo, Tępcz (KCT project), where the presence of shale gas has been confirmed in preliminary research. Cooperation between the companies under the Wejherowo license will be taking place on a territory of approx. 160 km 2 . Each of the investors will have an agreed percentage...

PLN 900 million for electricity networks

7/9/2012
The loan will be used to co-finance TAURON’s five-year investment program for modernization and extension of electricity networks in southern Poland. Total cost of the project is estimated at PLN 2 billion. The first tranche of PLN 450 million is to be drawn in July and the remainder will be used in accordance with investment needs. The loan is to be repaid within 12 months from the disbursement of...

TAURON increases bond issue program by PLN 2.75 bn

7/3/2012
On 29 June TAURON Polska Energia signed agreement to increase the value of the Company’s bond issue program by PLN 2.75 bn. Thanks to the agreement, TAURON will be able to issue bonds in tranches until mid-December 2017. Funds obtained from the bond issue will be allocated to finance investment program and cover general corporate expenses. The bond issue program has been extended by two new tranches...

TAURON builds another wind farm

7/3/2012
TAURON Ekoenergia of the TAURON Group signed agreement for construction of 40 MW Wicko wind farm together with turbine supply. The agreement was signed on 29 June with Aldesa, who was selected in a tender procedure. The farm will be built by a consortium composed of Aldesa Nowa Energia with its registered office in Krakow (consortium leader) and Aldesa Construcciones with its registered office in...

Fitch affirms TAURON’s rating

6/28/2012
On 25 June 2012 Fitch Ratings has affirmed TAURON Polska Energia S.A.’s (TAURON) long-term foreign and local currency Issuer Default Ratings at ”BBB” with stable outlooks. The affirmation is driven by TAURON’s stable operating and strong financial performance in FY11. TAURON’s EBITDA improved by almost 10% to PLN3bn, mainly due to strong performance of the distribution division, which accounted for...

TAURON Group: improved results in Q1 2012

5/10/2012
PLN 6.5 billion revenues, almost PLN 1 billion EBITDA TAURON Group’s revenues in Q1 2012 amounted to almost PLN 6.5 billion, i.e. almost 20% more than in comparable period last year when TAURON had PLN 5.3 billion revenues. EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization) increased by 13% up to almost PLN 1 billion in Q1 2012 from PLN 861 million a year ago. EBITDA margin was...

TAURON consolidated heating companies

5/2/2012
As part of Heat Segment development in the TAURON Group, on 30 April a merger of companies TAURON Ciepło S.A. (acquiring company) and Elektrociepłownia Tychy S.A., Elektrociepłownia EC Nowa Sp. z o.o. and Energetyka Cieplna w Kamiennej Górze Sp. z o.o. was registered in the National Court Register. “In line with the strategy we merge companies that run similar operations, and by doing that we also...

PLN 20 million for boiler modernization

4/11/2012
Elektrociepłownia Tychy from the TAURON Group signed agreement with Narodowy Fundusz Ochrony Środowiska i Gospodarki Wodnej (National Fund for Environmental Protection and Water Management) concerning subsidy for the project of emission reduction by modernization of a heating unit. The modernization consists of adaptation of the boiler to burn only biomass. The subsidy amounts to PLN 20 million. Reconstruction...

TAURON Group improved results

3/19/2012
TAURON Group’s revenues in 2011 amounted to nearly PLN 20.8 billion. After recalculation to make the data comparable, the Group’s sales would amount to approx. PLN 16.4 billion which means a 6.3% increase in comparison to 2010 when TAURON recorded over PLN 15.4 billion revenues. Increased EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization) by 9.6% to over PLN 3 billion in 2011 from...

TAURON established a Tax Capital Group

3/1/2012
TAURON Polska Energia completed the process of registration of a Tax Capital Group which incorporates 11 companies from the TAURON Group. The Tax Capital Group Agreement has been signed for the term of three years (2012-2014) and was registered by the Head of the First Silesian Tax Office in Sosnowiec. “Establishment of the Tax Capital Group is yet another element of the advanced Group management...

“Wektor” award for the CEO

3/1/2012
Dariusz Lubera, President of the Management Board at TAURON Polska Energia, has been awarded a “Wektor” prize by Employers of Poland. On 14 January the tenth Wektor gala was held during which prizes were awarded to great politicians, entrepreneurs and people from the world of culture and art. The awards were handed out by Andrzej Malinowski, the head of the Employers of Poland organization and Jan...

TAURON Dystrybucja opened a new electrical substation

3/1/2012
TAURON Dystrybucja opened a new 110/20 kV electrical substation – Brochocin. It will receive electricity generated at Modlikowice and Łukaszów wind farms located in Lower Silesia. The first wind farms operating in the territory covered by TAURON Dystrybucja branch in Legnica – in Modlikowice and Łukaszów – consist of 29 wind farms of 86 MW total target capacity. At present, they are the largest wind...

TAURON Ekoenergia builds a wind farm in Marszewo

3/1/2012
TAURON Ekoenergia signed agreement for construction of 82 MW wind farm in Marszewo, including supply and installation of wind turbines. The agreement was signed on 19 January with Iberdrola who won the tender procedure. The farm will be built by a consortium of Iberdrola Engineering and Construction Poland (consortium leader) and Iberdrola Ingenieria Y Construccion (partner). The general engineer...

PLN 40 million subsidy for eco boiler in Jaworzno

3/1/2012
On 19 January TAURON Wytwarzanie signed agreement with the Ministry of Economy (who is the intermediary institution for the Infrastructure and Environment 2007-2013 Operational Program) for subsidy for construction of biomass-fired boiler at a RES unit of Elektrownia Jaworzno III – Elektrownia II. The agreement was signed by Mrs. Ilona Antoniszyn – Klik, Undersecretary of State, on behalf of the Ministry...

TAURON purchased GZE from Vattenfall

12/29/2011
TAURON Polska Energia signed, on 13 December, the final agreement regarding the acquisition of 99.98% shares in Górnośląski Zakład Elektroenergetyczy (GZE) from Vattenfall AB. In consequence of the transaction TAURON strengthened its position of the leader in electricity distribution in Poland and became the leader in sales. The Group will deliver electricity to 5.1 million customers and will become...

TAURON Group’s net profit after Q3 2011

11/16/2011
TAURON Group’s revenues in Q1-3 2011 amounted to approx. PLN 15.2 billion. After recalculation to make it comparable 1 the Group’s revenues would amount to approx. PLN 11.9 billion, which is an increase by 8.4% in comparison to the same period of 2010 when TAURON achieved almost PLN 11 billion revenues. Increased EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization) by 9.8% to almost...

Tauron will raise additional PLN 3 billion from bond issue

11/4/2011
On 28 October TAURON Polska Energia and seven banks signed agreement to increase by PLN 3 bn the PLN 1.3 bn bond issue program concluded in December last year. Now the bond issue program totals PLN 4.3 bn. The funds that will be raised from the increased bond issue program will be used to finance the purchase of shares of Górnośląski Zakład Elektroenergetyczny from Vattenfall AB or to finance other...

TAURON applied to UOKiK (Polish Office for Competition and Consumer Protection)

10/25/2011
On 20 September TAURON Polska Energia submitted application to the Polish Office for Competition and Consumer Protection (UOKiK) stating their intention to take over Górnośląski Zakład Elektroenergetyczny – now belonging to Vattenfall AB. The final sale of GZE in August is subject to UOKiK’s approval. ”Clients will benefit from this acquisition. It will have a positive impact on the effectiveness...

TAURON Group bought wind farm

10/25/2011
Lipniki is a state-of-the-art wind farm commissioned in July 2011, located in South-West part of Opole province, in the territory of Kamiennik commune (Nysa district). The farm consists of 15 wind turbines, its total capacity equals 30.75 MW, maximum capacity of a single turbine is 2.05 MW. “The Lipniki farm is the first wind farm in the structures of our subsidiary, TAURON Ekoenergia” said Dariusz...

TAURON develops competencies in photovoltaics

10/25/2011
On 7 October TAURON Polska Energia, as one of the shareholders, joined the SPV called Pierwiastki i Surowce Krytyczne Sp. Z o.o. (Rare Elements and Resources LTD). The newly established company will be a platform for cooperation in research on the best technologies for solar panels production. The other signatories (SPV shareholders) are: KGHM Polska Miedź, ZGH Bolesław, and Akademia Górniczo-Hutnicza....

New Customer Service Office in Wrocław

10/25/2011
TAURON Obsługa Klienta opened a modern and functional Customer Service Office (CSO) in Wrocław at ul. Mennicza 20. It is the first facility opened under the CSO network optimization project in the TAURON Group. Both the design and the functioning of the CSO have been adjusted to meet the growing needs of our customers. The new office replaced the existing offices at ul. Powstańców Śląskich and ul....

TAURON received honorable mention in “The Best Annual Report 2010” contest

10/25/2011
TAURON Polska Energia received honorable mention from the jury of “The Best Annual Report 2010” contest for the quality of consolidated financial statements included in the TAURON Group’s report for 2010. The gala organized by the Accounting and Tax Institute was held on 21 October in the Warsaw Stock Exchange’s trading room. In the evaluation of TAURON’s annual report, the members of the jury who...

TAURON will receive over PLN 500 million from EBI

10/25/2011
TAURON Polska Energia obtained two preferential loans totaling over PLN 510 million from European Investment Bank (EIB). The funds will be used to for execution of two investment projects in the generation segment. “Loans from EIB confirm that the TAURON Group effectively uses preferential funds available on the market. Preferential loan for projects, whose overall goal is to increase efficiency and...

TAURON hopes to increase sales

9/23/2011
Technology park will be built in Stalowa Wola. On 21 September representatives of TAURON Polska Energia S.A. and Stalowa Wola Town Hall signed a letter of intent in this matter. TAURON hopes to increase the volume of process steam supplied to the technology park from the new steam and gas-fired unit. The park will prepare an investment site for industrial purposes (utility infrastructure, transport...

TAURON hopes to increase sales

9/21/2011
Technology park will be built in Stalowa Wola. On 21 September representatives of TAURON Polska Energia S.A. and Stalowa Wola Town Hall signed a letter of intent in this matter. TAURON hopes to increase the volume of process steam supplied to the technology park from the new steam and gas-fired unit. The park will prepare an investment site for industrial purposes (utility infrastructure, transport...

TAURON acquires GZE from Vattenfall. Signing of a sale agreement.

8/23/2011
TAURON Polska Energia acquires from Vattenfall AB its subsidiary - Górnośląski Zakład Elektroenergetyczny S.A. (GZE). Companies have signed an agreement for the sale of 99.98% of the share capital of GZE. The total value of the transaction is PLN 4.6 billion, which represents an enterprise value of PLN 3.5 billion and PLN 1.1 billion net cash. The acquisition will be financed through a new tranche...

TAURON and ArcelorMittal signed a long-term contract

7/25/2011
On 25th July, Thermal-Electric Power Station EC Nowa, which belongs to TAURON Group, and ArcelorMittal Poland signed a contract for provision and consumption of power utilities concerning energy carriers, fuel gas and other products. A scale of the financial turnover between the companies within five years which contract covers is estimated at approximately 2 bln PLN. -The agreement signed between...

Board and trade unions reached agreement on salaries

7/13/2011
On 11 July 2011 representatives of TAURON Polska Energia Management Board and the Council of Employees representing the trade unions present in the capital group reached an agreement concerning terms of salary calculation in subsidiaries. It was agreed that salary increase in individual companies will depend on, among other things, economic effects achieved by those companies. The agreement will be...

TAURON awarded for the best ecological product of the decade

6/27/2011
TAURON EKO Premium, TAURON’s ecological product, received the award Eco-laurels of the Decade given by the Polish Chamber of Ecology. In 2010, in the category ‘Eco-product used in industry and construction segment’ the award was given to TAURON’s product – TAURON EKO Premium, and this year the same product was awarded the Eco-laurels of the Decade. Polish Chamber of Ecology has been awarding environment...

Bielsko-Biała heating unit at key stage

6/27/2011
New coal-fired unit is now being built at Zespół Elektrociepłowni Bielsko-Biała (CHP Bielsko Biała) owned by TAURON Group’s Południowy Koncern Energetyczny. The new unit will generate heat and power, respectively 50 MWe and 106 MWt. On 15 June the steam drum of the boiler was installed. The new unit, which is crucial for the Bielsko-Biała heating system, will be commissioned in mid 2013. ‘The Bielsko-Biała-based...

New organisation of sales and customer service in TAURON Group

6/21/2011
Since the beginning of the new year, the existing sales companies of TAURON Group have changed the scope of their operations – Enion Energia as TAURON Sprzedaż (sales) is involved in sales of electrical energy to all clients (under the brand TAURON Polska Energia), while EnergiaPro Gigawat as TAURON Obsługa Klienta (Customer Service) provides services for mass client and business sectors. – Integration...

TAURON issues bonds and starts refinancing of debt

6/21/2011
On 29 December, in order to refinance the existing debt, TAURON Polska Energia issued five-year corporate bonds. The total value of securities allocated for his purpose amounts to about 850 million. The bonds will be taken over by financial institutions, i.e. Bank Handlowy, ING Bank Śląski, Pekao, BRE Bank, PKO BP and Nordea Bank. The resources acquired by Tauron will be transferred to key subsidiary...

The next coal contract

6/21/2011
On 29 December, the biggest energy producer in TAURON group - Południowy Koncern Energetyczny and Południowy Koncern Węglowy - as the mining company of the Group, signed the contract on delivery of coal and energy silt in the years 2011–2013. The value of the contract amounts to about PLN 2.5 billion. It is the next mining contract signed by the manufacturers of TAURON Group this year. The three-year...

TAURON in WIG20 index

6/21/2011
After the session of 17 December 2010, TAURON Polska Energia will be included in the index of twenty biggest companies listed at the Warsaw Stock Exchange. The Katowice – based Group will occupy the eight place in WIG20, with 4% share . Entering WIG20 is the consequence of quarterly revision of indices performed by the WSE, based on data after the last session of January, April, July and October....

TAURON Group reduces emission of pollutants

6/21/2011
Południowy Koncern Energetyczny [Southern Energy Consortium] of TAURON Group, within the execution of the strategic programme on emission abatement, has launched a project on: Construction of flue gas deNOxing plant and 200 MW power units retrofitting in Łaziska Power Plant as part of the pollutant emission reduction program. On 24 January PKE signed contract for the OP 650k boilers retrofit aiming...

The nationwide company networks buy energy from Tauron

6/21/2011
Neonet, Lukas Bank, The Purchase Group of Bosch, BSH, Siemens, Hoop Polska – are only some of the nationwide companies operating all over the country which will consume energy sold by Tauron Polska Energia in 2011. Simultaneously, the number of business clients of Tauron Group is still increasing. - Tauron Group undertakes intensive efforts to maintain clients and acquire new ones. Such actions are...

Tauron as the active seller all over Poland

6/21/2011
Tauron Polska Energia wins subsequent tenders for sales of electrical energy to business clients – both within own distribution area and in other region sof Poland.. The National Museum in Cracow resolved the tender on purchase of electrical energy – the offer submitted by Tauron appeared to be the most competitive. Similarly, the stadium of the football club Wisła Kraków will purchase energy from...

Partners agreed on principles of operating and construction of the steam block in Stalowa Wola

6/21/2011
Tauron Polska Energia SA and Polskie Górnictwo Naftowe i Gazownictwo SA will build the largest gas power and heating plant in Poland, to be localized in Stalowa Wola. On 11 March 2011 the companies signed a package of contracts determining the implementation of the project. The estimated value of the investment amounts to PLN 1.9 billion. The modern gas and steam blocks of 400 MWe and 240 MWt in Stalowa...

TAURON Group noted increase of revenue and profit in 2010 .

6/21/2011
Increase of revenue of TAURON Group by almost 13 percent to over PLN 15.4 billion in 2010, from almost PLN 13.7 billion a year before. Increase in EBITDA (operating profit increased by amortisation) by almost 5 percent, from over PLN 2.6 billion in 2009 to PLN 2.8 billion in the previous year. Maintaining the EBITDA margin at the high level– in 2010 the profitability amounted to 18 percent. Increase...

30 million PLN for EC Tychy

6/21/2011
On 29 March, Elektrociepłownia Tychy from Tauron Group signed a contract with the Regional Fund of Environmental Protection and Water Management in Katowice on granting a loan of PLN 30 million for execution of a Project involving construction of biomass supply installation as well as modernisation of the fluidized bed. The investment will cost about PLN 120 million. The contract with a contractor...

The Management Board recommends payment of dividend

6/21/2011
The Management Board of TAURON Polska Energia shall provide the Ordinary General Assembly of the Company with the recommendation to pay dividend to shareholders at the amount of about PLN 263 million. Should the shareholders accept this proposal the dividend of PLN 0.15 shall fall to one share. The recommended amount of the dividend due to the shareholders covers the unit net profit of the company...

Ordinary General Assembly of TAURON Polska Energia

6/21/2011
The Management Board of the Company called the Ordinary General Assembly of TAURON Polska Energia SA. on 6 May. The most important items on the agenda shall include: approval of the activity report of the Management Board, approval of financial statements, profit distribution as well as granting discharge to the members of the Management Board and Supervisory Board. The agenda comprises revision of...

TAURON and KGHM conduct design activities concerning the gas block in Blachownia

6/21/2011
On 13 April, TAURON Polska Energia and KGHM Polska Miedź decided that further design activities concerning construction of a block of 800–910 MW in Elektrownia Blachownia (Blachownia Power Plant) in Kędzierzyn-Koźle shall be conducted assuming the choice of gas fuel. In the second part of 2010, the working teams established for the project activities, comprising representatives of the partners accompanied...

Cheaper energy for shareholders

6/21/2011
Starting on 1 July 2011, the shareholders of TAURON Polska Energia SA can pay 15 percent less for electricity. The individual investors from all over Poland shall enjoy savings on energy bills due to the loyalty programme „Guarantee of Lower Price”, announced since 2010 as the element of the first public offering of the Company. The promotion is addressed both to existing and to the potential clients....

TAURON among the top ten on the List of 500 by “Rzeczpospolita”

6/21/2011
TAURON Polska Energia was promoted by one rank on the List of 500 – from the 11th to the 10th position. In 2010 the Company noted the growth of sales revenue by 9.6 percent (as compared to 2009), which is the criterion of companies positioning. Our revenue exceeded PLN 15 billion, EBITDA of TAURON Group amounted to PLN 2.76 billion. Within the ranking of “The most valuable enterprises of Rzeczpospolita”...

TAURON revises strategy

6/21/2011
TAURON Polska Energia has adapted ‘TAURON Group Corporate Strategy for 2011-2015 with a projection until 2020’, which is a revision of the strategy of 2008. The document redefines the strategic objectives, which enable the growth of the Group’s value. The revised strategy focuses on: growth of the most attractive areas of activity, operating and investment efficiency at the best practice level, market...

TAURON to pay dividend

6/21/2011
On May 6th, Ordinary General Meeting of Shareholders of TAURON Polska Energia was convened. The most important issues on the agenda were: approving the reports from the activity in 2010, financial statements, profit distribution and granting a vote of approval for members of the management board and supervisory board. During the meeting reports and conclusions were analyzed and then resolutions were...

TAURON Group increases its revenues and profits in Q1 2011.

6/21/2011
TAURON Group revenues are almost PLN 5.3 billion in Q1 2011. After making them comparable [1], the Groups revenues would be over PLN 4.1 billion, which means 9.3% growth as compared to Q1 2010, when the Group’s revenues were almost PLN 3.8 billion. EBITDA grows (Earnings Before Interest, Taxes, Depreciation, Amortizations) by 4.7% to PLN 860 million in Q1 2011 from approx. PLN 822 million in the previous...

Eco investment in Jaworzno reaches its halfway point

6/21/2011
TAURON Group is implementing its corporate strategy as regards the construction of new capacities. On June 2nd, in Jaworzno III Power Plant, belonging to Południowy Koncern Energetyczny from TAURON Group, drum of the 50 MW biomass boiler was installed. It is a breakthrough in the investment implementation. - The Jaworzno investment is the effect of the implementation of TAURON Group corporate strategy....

TAURON joins WIG20 index

12/22/2010
After the session of 17 December 2010 Tauron Polska Energia will join WIG20, the index of twenty largest companies listed on the Warsaw Stock Exchange. The Katowice-based Group will take the 8th position in WIG20 with a 4% share in the index. Inclusion in WIG20 index is a result of a quarterly revision of indices. Such revision is performed by the Warsaw Stock Exchange based on the data as of the...

Another wind farm to be built in the Tauron Group

12/20/2010
On 15 December 2010 TAURON Ekoenergia, a company dealing with renewable energy sources in the Tauron Group, signed agreement for purchase of 100% shares in a special purpose vehicle (SPV) that has a design for construction of a 100 MW wind farm. The SPV “Megawat Marszewo” is located near the town of Marszewo (in the municipality of Postomino, West Pomeranian province). “It is the second company purchased...

TAURON starts bond issue program

12/20/2010
On 16 December 2010 TAURON Polska Energia and six banks signed agreements for Bond issue program for PLN 1.3 billion. The main goal of the program is to refinance the debt of the Tauron Group. The following financial institutions are parties to the agreements: Bank Handlowy, ING Bank Śląski, Pekao, BRE Bank, PKO BP and Nordea Bank. As part of the bond issue program, Tauron will issue dematerialized,...

Forbes&TAURON Business Forum – business conference series

12/2/2010
Optimization of electricity purchase costs is the main subject of the series of conferences organized by Tauron Polska Energia S.A. in cooperation with Forbes magazine. The first meetings were held in Poznań and Katowice. The first meeting under Forbes&TAURON Business Forum was held on 16 November 2010 in Poznań and it was attended by about a hundred entrepreneurs operating in Wielkopolska region....

Tauron awarded the company of the quarter by ”Puls Biznesu”

12/2/2010
Tauron Polska Energia was chosen the company of the quarter by the Polish daily "Puls Biznesu”. “In the most prestigious category the first place goes to Tauron. The decisive factors included the results, share price increase, positive recommendations and the future inclusion in WIG20 index”, the daily wrote. In the third quarter both, Tauron’s operating profit and net profit were by several percent...

Tauron Group will buy coal from Kompania Węglowa

12/2/2010
Kompania Węglowa and Tauron’s generation companies signed on 1 December 2010 in Katowice three-year agreements for sale of steam coal. During the term of the agreements the companies: Południowy Koncern Energetyczny, Elektrociepłownia EC Nowa, Elektrociepłownia Tychy and Energetyka Cieszyńska will purchase PLN 2.4 billion worth of coal from the largest producer of steam coal in the European Union....

Subsidy for initial investments in PKW

11/16/2010
Południowy Koncern Węglowy of the TAURON Group received a subsidy for initial investments in the amount of PLN 44.5 million. The company applied for such an amount and intends to spend it on investments. On 8 November in Katowice, PKW and the Minister of the Economy signed two agreements for subsidies to fund execution of initial investments, in line with the company’s applications filed in September...

TAURON Group develops competence in nuclear power

11/16/2010
The first edition of postgraduate course in nuclear energy organized by Akademia Górniczo-Hutnicza in Cracow has been completed. On 5 November the rector of the university, professor, PhD Antoni Tajduś and the head of the studies, professor, PhD Stefan Taczanowski handed diplomas to 37 employees of the TAURON Group who completed the course. In pursuit of its corporate strategy concerning nuclear power,...

TAURON to be included in WIG20

11/12/2010
Starting 17 December TAURON Polska Energia will be included in WIG20, the index of twenty largest companies on the Warsaw Stock Exchange. According to yesterday’s statement of the WSE, TAURON will be on the eighth place in WIG20 and will have a 4% share in the index. The company that was removed from the index is Bioton. - ” TAURON’s presence in WIG20 is consistent with our expectations and confirms...

Registration of Tauron’s share capital increase

11/3/2010
On 2 November Tauron Polska Energia received a decision of the District Court Katowice-Wschód on registration of share capital increase and amendments to the Company’s Articles of Association. After registration of the increase, the share capital amounts to PLN 15,772,944,546 and is divided into 1,752,549,394 shares issued in two series: 1,589,438,762 series AA ordinary bearer shares and 163,110,632...

Tauron ninth on the “List of 2000”

11/3/2010
Tauron Polska Energia is on the ninth place of the “List of 2000” published by Polish daily “Rzeczpospolita”. The results of the Tauron Group for 2009 helped the Group move up by one place in comparison to last year’s position when Tauron was on the tenth place.

Tauron among leading European companies

10/27/2010
Tauron Group was ranked 31st in the ranking of 500 largest companies of Central and Eastern Europe developed by the ‘Rzeczpospolita’ daily and Deloitte advisory company. The Group thus defended its last year’s position in the ranking. Tauron was first included in the ranking in 2007 and has climbed by 12 positions ever since. In the ranking of 20 largest power engineering and raw materials processing...

TAURON Group at Energetab 2010

10/27/2010
As tradition has it, in September there is held the ENEGETAB Bielsko-Bia ł a International Power Industry Fair, considered the largest and the most important as far as Polish power engineering is concerned. In the 23rd edition of the event, TAURON Polska Energia S.A. is its general patron, and the ‘Polska Energia’ magazine issued by it is the Fair’s media patron. At the Fair, the TAURON Group is represented...

Tauron held a General Meeting

10/27/2010
On 14 September there was held in Katowice a General Meeting of TAURON Polska Energia. The main points of the agenda included adoption of resolutions with respect to amendments to the Articles of Association of the Company and to the scope of its activities, adoption of the Rules of Procedure of the General Meeting, and appointment of new members of the Supervisory Board. The General Meeting adopted...

Changes in the Management Board of PKE

10/27/2010
On 22 September in Katowice there was held a meeting of the Supervisory Board of Południowy Koncern Energetyczny, a generation company of the Tauron Group. One of the items of the agenda pertained to changes in the composition of the Management Board. Pursuant to a decision of the Board, Stanisław Tokarski, until the end of August Vice-President of Tauron Polska Energia S.A., was appointed the President...

Supervisory Board of TAURON Polska Energia appointed a new vice-president

10/27/2010
On 28 September Vice-President of the Management Board, Chief Strategy and Business Development Officer of Tauron Polska Energia S.A. was selected. The position was assumed by Joanna Schmid. Qualification proceedings were announced by the Supervisory Board on 3 September. On 28 September there was held in Katowice a meeting of the Supervisory Board of TAURON Polska Energia S.A. The main subject of...

TAURON Group entered Czech electricity exchange

10/27/2010
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...

Concentration of renewable sources of energy in TAURON Ekoenergia

10/27/2010
Since October, TAURON Ekoenergia has been managing all the hydro-electric power plants owned by the TAURON Group. On 1 October, District Court in Wroclaw registered the increase of the share capital of TAURON Ekoenergia and thus division of Enion Energia. Share capital of TAURON Ekoenergia was increased from PLN 200,264,000 by PLN 255,806,000 to PLN 456,070,000 by means of establishment of 255,806...

TAURON Polska Energia a Trader on the Warsaw Stock Exchange Commodity Market

10/27/2010
On 6 October, the Management Board of the Warsaw Stock Exchange granted TAURON Polska Energia the status of a Trader on the Warsaw Commodity Exchange Commodity Market. TAURON is one of the first entities to receive the status of a Trader on the market. At the moment, there is only one electricity exchange in Poland – Towarowa Giełda Energii S.A. The other electricity market operator will be the Warsaw...

Construction of a gas and steam unit at Stalowa Wola – the UOKiK (Office of Competition and Consumer Protection) consented to concentration

10/27/2010
On 11 October, the President of the Office of Competition and Consumer Protection (UOKiK) issued a permit for concentration involving establishment by TAURON Poland Energia and PGNiG a joint venture in the form of a special purpose vehicle operating under the name of Elektorciepłownia Stalowa Wola (EC Stalowa Wola). EC Stalowa Wola will commence further works pertaining to the realisation of the investment...

Offers submitted in tenders for contract engineer and general contractor for construction of 400 MW power unit in Stalowa Wola

10/21/2010
Applications to participate in the procedure were submitted in tenders announced by Elektrownia Stalowa Wola S.A. for construction of a 400 MW gas and steam power unit. Twelve offers were received in the tender for general contractor, and five offers were received in the tender for contract engineer. The company plans to complete the procedures in the first half of 2011. Earlier, on 11 October 2010,...

Tauron floated on the Warsaw Stock Exchange!

8/13/2010
On 30 June 2010 TAURON Polska Energia S.A. floated on the Warsaw Stock Exchange. The company floated at PLN 5.13 which is equal to the final sales price in the initial public offering. Tauron capitalization in the first minutes of listing amounted to almost PLN 8.2 billion which makes it one of the largest companies listed on the WSE in this respect. “This is a very important moment for us. We have...

TAURON Polska Energia S.A. shares allotted to individual investors

8/13/2010
Tauron Polska Energia S.A. shares offered in initial public offering have been allotted to individual investors through Warsaw Stock Exchange. Due to very high interest in “small size shareholders programme” pursuant to Maximum Allotment principle each investor received 934 shares (after consolidation). Tauron shares will float on the WSE on Wednesday, 30 June 2010. Individual investors placed 231,052...

Tauron Polska Energia S.A.: additional share for part of individual investors

8/13/2010
Individual investors who subscribed for Tauron Polska Energia S.A. shares in the public offering, pursuant to Maximum Allotment Principle received up to 934 shares. Following the application of this rule 105,934 shares remained to be allotted to individual investors. Pursuant to the Prospectus, investors randomly selected by the WSE system received additional one share each from those 105,934 shares....

Tauron closer to wind farm

8/13/2010
Tauron Ekoenergia, a Tauron Group’s subsidiary is currently preparing to build a wind farm. The company has announced an invitation to tender for supply, assembly, commencement and servicing of 40 MW Wicko Wind Farm and leasing-based financing. Total cost of the investment is estimated at over PLN 200 million. Applications for approval to bid may be filed until 16 August 2010. The subject of the tender...

Tauron implemented project management system

8/13/2010
Tauron Polska Energia implemented Microsoft Office Enterprise Project Management (EPM) – an IT tool which enables to optimize project management and strategic projects portfolio management in the TAURON Group and to track progress of currently executed projects. “The need to implement EPM system resulted from the need to standardise, organise and centralise management of information connected with...

Final price of the offer has been determined

6/22/2010
The final price of the offer shares offered to institutional and individual investors in the public offering of Tauron has been determined at PLN 5.13 (after share consolidation at the ratio of 1:9), i.e. PLN 0.57 before share consolidation. The final number of the offer shares to be offered in the public offering after share consolidation amounts to 821,033,422 shares which is 51.6% of all shares....

Tauron wins new clients

6/2/2010
The number of clients from other regions of Poland, outside the Group’s historical area of operations, increases. The portfolio of external clients includes the largest Polish companies. In the past several months sales companies from the Tauron Group (Kraków-based Enion Energia and Wrocław-based EnergiaPro Gigawat) have won 7 thousand new energy supply clients outside their areas of operations. Contracts...

Extraordinary General Meeting

5/28/2010
NOTICE OF EXTRAORDINARY GENERAL MEETING OF TAURON POLSKA ENERGIA S.A. (the notice of General Meeting has been published in the official gazette, Monitor Sądowy i Gospodarczy No. 90, item 5659 on May 11, 2010) The Management Board of Tauron Polska Energia S.A. with its registered office in Katowice, at ul. Lwowska 23, 40-389 Katowice, entered in the National Court Register maintained by the District...

Tauron’s Prospectus approved

5/28/2010
Today the Polish Financial Supervision Authority approved the Prospectus of Tauron Polska Energia S.A. The Prospectus will be published on June 1, 2010. Aleksander Grad, Minister of the State Treasury said: “Tauron Polska Energia is a key company for the Polish power system. Soon investors will be able to participate in the company’s privatisation. The recently closed offer of PZU shares was the largest...

Initial Public Offering

5/27/2010
Warsaw, Poland: TAURON Polska Energia S.A. (“TAURON” or the “Company“, and together with its subsidiaries the “TAURON Group”), the second largest vertically integrated utility in Poland and one of the largest in Central and Eastern Europe in terms of installed capacity and production volumes, today announces its majority shareholder’s - the Polish State Treasury - intention to conduct an initial public...

Tauron reports higher profit and revenue for Q1 2010

5/11/2010
Tauron Polska Energia S.A. has announced consolidated financial results for Q1 2010. The Group’s income increased by over 6% in comparison to Q1 2009 and reached almost PLN 3.8 billion. EBITDA has increased in that period by over 24% and reached approx. PLN 820 million and net profit increased by almost 63% in comparison to Q1 2009 and reached almost PLN 360 million. The good results achieved in...

Tauron enters new markets

5/7/2010
On 6 May 2010, Tauron Polska Energia SA became a member of European Power Exchange EPEX Spot SE based in Paris. In line with the membership application filed by Tauron, the company was admitted to trade and may conclude transactions in day-ahead spot auctions with delivery on the German/Austrian TSO zones. "Tauron's presence on the EPEX Spot SE is in line with the company's strategy which involves...

Tauron signed MOU with Chugoku EP

5/6/2010
On 6 May 2010 in Warsaw, Tauron Polska Energia SA (TPE) signed Memorandum of Understanding (MOU) with Japanese company Chugoku Electric Power Co. Under this MOU the companies intend to cooperate for two years. TPE and Chugoku Electric Power undertook to cooperate in the fields of coal-fired power generation, nuclear power generation, and renewable energy sources. The cooperation will consist in...

April 10th Foundation

4/30/2010
The April 10th Foundation was established on 28th April 2010. Its goal is to help children of the victims of the Smolensk air crash, children of victims of other catastrophes and disasters and also children whose parents died on duty while serving the country. The main goal of the Foundation is to meet the educational needs of the children under its care (among others, by grants or education-related...

Prime Minister visits PKW

12/4/2009
Government Information Centre informs that on Friday, 4 December 2009 Prime Minister Donald Tusk will meet miners on their holiday. Visit agenda: 9.00 a.m. - special Mess celebrated by His Eminence Cardinal Stanisław Dziwisz at the church of St. Barbara Libiąż, ul. ks. Stanisława Pieli 11 Open for the media 10.40 a.m. Prime Minister takes part in Miners' Day Celebration 10.55 a.m. Prime Minister's...

Miner’s Day Wishes

12/4/2009
On the occasion of St. Barbara's Day we would like to wish all miners, in particular those working at Południowy Koncern Węglowy that belongs to Tauron Group, all the best. We wish you satisfaction from your hard and responsible work and general respect and recognition that is so much deserves. In addition, please accept our wishes of the best of luck and happiness to your families. God bless you!...