PGE Group sells 50.3 PJ worth of heat in 2019

PGE Group sold 50.3 PJ worth of heat in 2019, down by 0.8 PJ from the previous year 2018. The drop was mainly due to lower demand as a result of higher average temperatures in 2019. Electricity distribution stood at 36.4 TWh and was relatively flat compared to 2018. In 2019, PGE Group posted a 3-percent increase in electricity sales. Part of this increase is attributable to PGE supplying electricity to customers whose suppliers went bankrupt. In 2019, PGE Group’s EBITDA was about PLN 7.1bn, up 12 percent y-o-y. This increase was mainly a result of additional CO2 emission allowances (EUA), worth PLN 1.4bn, that were granted in H1 2019. Conventional generation and distribution segments were the largest contributors to the group's performance in 2019, accounting for 40 percent and 32 percent, respectively, of PGE Group’s EBITDA. District heating accounted for 17 percent of EBITDA, renewables for 7 percent and supply for 4 percent.