The Management Board of PKP CARGO S.A. (“Company”, “Buyer”) hereby reports that on 5 December 2022 the PKP CARGO S.A. Supervisory Board gave its consent to incur a liability by accepting the proposal and entering into an electricity sales and distribution service agreement (“Agreement”) by and between PKP CARGO S.A. and PKP Energetyka S.A. (“Seller”).
The Agreement pertains to the sale of electricity (“traction energy”) and the provision of traction energy distribution services for the needs of the transport services rendered using electrical traction. The purchase of traction energy and distribution services will be settled based on the actual consumption resulting from the achieved freight turnover.
The Agreement has been entered into for the term commencing on 1 January 2023 and ending on 31 December 2024. The expected net value of the Agreement throughout its term will not exceed PLN 1,874,595,991.65 (gross value of PLN 2,305,753,069.72). The value of the Agreement and changes in energy costs will depend on the prices of contracts quoted on the Polish Power Exchange.
The price of electricity sold to the Company will be calculated in accordance with the model established for 2023-2024. The electricity sales offer forming an integral part of the Agreement specifies the model for setting the price of energy in force in the various years.
Article 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council on Market Abuse