We are moving in the direction we have chosen for the transformation of the PGE Group primarily by investing in renewable energy sources. In 2020 we have already increased the total wind capacity of the PGE Group by 24% to 683 MW. We are consistently carrying on the project to develop offshore wind farms together with the ambitious plan to build solar power plants.
Bearing in mind the changes on the electricity market and the rising costs of CO2 emissions, it has become of key importance to ensure the continued operation of our conventional power plants, as they play an important role in the stability of the power system. The modern gas and steam units being under construction will replace the coal-fired units operating today, taking advantage of the fuel available (Baltic Pipe gas pipeline, LNG terminal).
Bearing in mind the EU climate policy and the obligation to provide our customers with heat at the lowest possible cost we are to replace coal-fired units with modern low-emission units, primarily gas ones. PGE’s new investments will further contribute to the improvement of air quality in Polish cities.
Despite high CAPEX, we maintain the debt ratio at a relatively low level. This allows us to boldly plan the necessary investments changing the face of the Group which are to determine PGE’s future financial results.
Limited consumption and increased electricity imports translate directly into the reduced utilisation of conventional power plants. Market changes spur us to meet the challenges to maintain our leading position in electricity generation in Poland.
We are the largest vertically integrated producer and supplier of electricity in Poland and the largest producer of heat. We operate along the entire value chain: we produce electricity and heat in our power plants as well as in combined heat and power plants, and then distribute and sell them to our clients all over Poland, both to households, enterprises, institutions and local governmentsSee more
Employees are our most valuable asset. Thanks to their experience and commitment every single day we build an organization based on values where social responsibility harmonizes with business goals. We are the third largest employer in Poland. It is a huge responsibility towards our employees as we create stable and safe workplaces in over 200 locations all over Poland.See more
Our contribution to the implementation of the EU climate policy includes not only our current actions but also our well-thought-out investment plans. Necessary actions, however, require appropriate support from the EU institutions.
We are one of the largest CIT payers in Poland paying over PLN 6 billion a year to the State Treasury and local budgets. Despite huge investment challenges we support the Polish economy and the state budget.
The PGE Group is a huge organism. To utilise its capabilities in an optimal way and to meet the expectations of stakeholders the proper supervision and coordination of the activities of all companies in the Group is a must. The appointment of the Holding Council will strengthen the supervision over individual segments and companies.