33.3 Granting of additional CO2 emission allowances for PGE’s installations

As a result of settlement of capital expenditures in PGE Group, in April 2019 generation assets acquired from EDF group in 2017 received additional allocation of CO₂ emission allowances in the amount of approximately 11 million tonnes for the years 2013-2017. These allowances are held for trading purposes.

The allowances received were included in Inventories (note 15) and Other operating income (note 7.3). The allowances are measured at each reporting date at fair value. As at December 31, 2019, their fair value amounted to PLN 1,300 million and the valuation of related forward contracts (commodity and currency contracts) is PLN 146 million.