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Integrated Report 2023

Investing in
sustainable energy

As PGE Group we are transforming the power sector in Poland. We invest in generation from the renewable energy sources and enable distribution of this energy. We ensure balance for social interests and the natural environment.

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Integrated Report 2023

Capital expenditures

Distribution

PLN 4,224 m

Railway Energy Services

PLN 1,053 m

Renewable Energy

PLN 1 223 m

District Heating

PLN 1 523 m

Conventional Generation

PLN 1 478 m

Supply, CircularEconomy & oth.

PLN 877 m

PLN ~10.1 bn

Total CapEx (+43% y/y)

01

For several years, one of the PGE Group’s priorities has been to ensure the reliability of energy supplies to our customers. Our activities in this area are focused on four key themes:

1.

Grid cabling program
2.

Energy automation for the customer (Remote metering & LTE450 programs)
3.

Connection of RES
4.

Energy for the railway

”PGE’s responsibility goes far beyond the conduct of day-to-day business and the implementation of investment projects with the highest rate of return. We ensure the energy security of consumers, we contribute to the creation of stable and safe living conditions, and we support the development of the national economy.

When thinking about sustainable energy, we look at the challenges facing the energy industry comprehensively. This means not only replacing generation sources, but also expanding, modernising and digitalising the distribution network and investing in energy storage. Without these investments, further development and the connection of new renewable sources will not be possible.

Dariusz Marzec
CEO
PGE Polska Grupa Energetyczna S.A.

Key data for 2023

38.88 TWh

Distribution of electricity
34.63 TWh

Sales of energy to final off-takers
49.00 PJ

Sales of heat
1,312 MW

Installed RES capacities
320 thousand km

Length of distribution lines
7,088 MW

Installed thermal capacities
2.73 TWh

Net electricity production from renewable energy sources

PLN 95,564 m

Sales revenues
PLN 10,028 m

EBITDA
PLN 10,088 m

Capital expenditures
71.3 %

Capital expenditure of environmentally sustainable activities
BBB+ / Fitch

credit rating
Baa1 / Moody’s

credit rating

01

PGE – the climate conscious company

The issue of climate change and the decarbonisation of the PGE Group’s operations are priorities for us and for our stakeholders.

By being awarded the title of Climate Conscious Company 2023 and once again improving its rating in the international CDP survey, PGE confirmed that it is aware of the importance of climate change and management of the environmental impact of its operations is at a high level. We will consistently set the highest standards in Poland in this area.