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    Equity Insights: Power utilities seen with PLN 270-450 mln hits to results from electricity price cut

    September 12, 2023 - Bokszczanin Marcin


      --------------------- POWER - Polish power utilities will face significant hits to their financial results from government's regulation trimming the 2023 electricity prices for households in 2023 (retroactively, Trigon DM analyst Michal Kozak wrote in a daily note.

      Namely, the negative impact for PGE and Tauron is seen at PLN 450 mln each and for Enea at PLN 270 mln.

      Power utilities may hope that the question of state compensations will return after the election (the regulation assumes no compensations), but that will for now remain a risk factor, Kozak wrote.

      On Monday, Poland's Climate Ministry announced regulation that will force Polish electricity vendors to reduce retail prices for households by 12% retroactively as of the beginning of 2023.

      The 12% reduction is to be applied to the average price for 1 kWh for households in 2022 for the volume of 2523 kWh. It gives a maximum of PLN 125 reduction per household, according to PAP calculations.


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