Receipt of a notice from a key business partner on reduction of demand for coal in 2023
Current Report No. 17/2023
Date of preparation: 17 July 2023
Subject: Receipt of a notice from a key business partner on reduction of demand for coal in 2023
Legal basis: Article 17(1) of MAR – confidential information
The Management Board of Lubelski Węgiel Bogdanka S.A. (hereinafter referred to as "Company") hereby reports that on 17 July 2023 it received from Enea Trading sp. z o.o., acting as a proxy (hereinafter referred to as "Proxy") of Enea Wytwarzanie sp. z o.o. and Enea Elektrownia Połaniec S.A., a letter with information on the reduction of demand for coal from the power plants belonging to the Enea Group by approx. 1.05 million tons +/- 15% in relation to the values resulting from the volumes in force for the current year, established on the basis of annexes to multi-year agreements, the conclusion of which (annexes) was reported by the Company in Current Reports No. 26/2022 and No. 27/2022 dated 30 December 2022.
In the letter in question, the Proxy refers to production reductions introduced by the Transmission System Operator - PSE S.A., which are independent of the ENEA Group's generating units, resulting from a drop in demand from the National Power System. At the same time, according to the letter received, the Proxy declares collection of the volume undelivered in 2023 in subsequent years and conclusion of relevant agreements with the Company to this effect.
The Company reports that the reduction in the volume of coal deliveries to Enea Group companies may affect the 2023 production plan in effect, which the Company announced in Current Report No. 21/2022 dated 27 September 2022.