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Increase power and heat sales volumes

The PGNiG Group’s strategy for the generation business is to expand its share in the heat generation and distribution market. On April 28th 2016, PGNiG TERMIKA purchased shares in the companies that subsequently merged to form PGNiG TERMIKA EP. These acquisitions helped the PGNiG Group to expand into the prospective heat markets of Upper Silesia. Around PGNiG TERMIKA, the Group is building a strong group of companies offering significant growth potential that will create value for the entire Group.

In terms of electricity and heat generation, the Group’s strategic ambition is to increase the electricity and heat sales volume from approximately 15 TWh in 2017 to around 18 TWh in 2022. This objective will be achieved mainly through strategic upgrades and growth investments in the existing generation facilities, including the construction of a new CCGT unit at the Żerań CHP plant, integration of the acquired heating assets within the PGNIG TERMIKA Group, and increasing the production of electricity and heat at PGNiG TERMIKA EP following the launch of a new generating unit at the Zofiówka CHP plant, and further acquisitions of local heating systems.

The current market and regulatory environment as well as tariffs provide favourable conditions for the growth of Poland’s heating market. Available market forecasts suggest a stable growth of the total price of district heat and a moderate increase in demand for district heat in the coming years. The regulated nature of the business guarantees stable rates of return.

 

PGNiG TERMIKA’s aspirations until 2022:

  • Increase the PGNiG TERMIKA Group’s EBITDA to PLN 1bn in 2022;
  • Implement investments that will ensure compliance of generation assets with current and future environmental requirements;
  • Secure a leading position among Poland’s heating companies in terms of network infrastructure;
  • Assert the role of moderator of regulatory and market change in the sector;
  • Achieve market benchmarks for organisational efficiency in Poland;
  • Develop efficient mechanisms for managing the PGNiG TERMIKA Group.