Generation Segment
PGNiG Termika
PGNiG Termika SA is involved in the generation, distribution and sale of heat and electricity. The company also serves as the PGNiG Group’s competence centre for heat and electricity generation and implementation of heat and power projects. Its main revenue sources are sales of heat, electricity, system services, and certificates of origin for energy. With the installed capacity of its generating assets at 4.8 GW of achieved thermal power and 1 GW of achieved electrical power, the company satisfies approximately 70% of the heat demand on the Warsaw metropolitan market. PGNiG Termika is also a producer and supplier of heat and the owner of heat sources and heat networks in Pruszków, Komorów and Piastów.
In 2013, PGNiG Termika generated revenue of PLN 2,062 m, chiefly from sales of electricity and heat to customers outside the PGNiG Group. Sales of heat and electricity accounted for 52% and 44% of the company’s total revenue, respectively.
In 2013, PGNiG Termika sold 40,174.6 TJ of heat, mainly to Dalkia Warszawa SA (formerly Stołeczne Przedsiębiorstwo Energetyki Cieplnej SA), which purchased 97.3% of the heat generated by the company. In 2013, Dalkia Warszawa SA contracted 3.6 GW of PGNiG TERMIKA’s heat generation capacity. The balance of heat produced was sold to local customers, mainly in Pruszków and the surrounding areas.
In 2013, PGNiG Termika sold 3,772.2 GWh of electricity. The company’s key customers in 2013 were PGNiG and Alpiq Energy SE, whose aggregate share in the electricity sales volume was 99%. The company also sold electricity to smaller customers.
In 2013, PGNiG Termika sold property rights attached to certificates of origin for electricity produced by co-generation (red certificates), and generated from renewable sources (green certificates) on spot markets or under forward contracts. Certificates of origin for electricity were sold chiefly to PGNiG, RWE Polska, Obrót Axpo Trading, and TAURON Polska Energia SA, as well as on the Polish Power Exchange.
In 2014, PGNiG Termika will be looking to develop its heating distribution system, both in partnership with Dalkia Warszawa SA and on its own, by entering into heat sale contracts directly with end users on a third-party-access (TPA) basis.
In 2014, following the expiry of the contracts with Alpiq Energy SE, PGNiG will become the key customer for electricity generated at PGNiG Termika. PGNiG’s share in the PGNiG Termika electricity sales volume will be approximately 99%.
| PGNiG Termika | 2013 | Unit of measure |
|---|---|---|
| Revenue | 2,062 | PLN m |
| Net profit | 17 | PLN m |
| Equity | 1,601 | PLN m |
| Total assets | 4,144 | PLN m |
| Workforce as at December 31 | 1,066 | persons |