Brief: Enea Sees EBITDA Hit By About 264 Mln Zloty Provision

Enea SA

23/10/2023 06:35

Oct 23 (Reuters) - Enea SA  ENAE.WA :
    * SAID ON FRIDAY THAT IT HAS IDENTIFIED THE NEED TO CREATE A
PROVISION OF ABOUT 264 MILLION ZLOTYS IN Q3 FINANCIAL REPORT
    * SAID PROVISION TO LOWER CONSOLIDATED EBITDA BY ABOUT 264
MILLION
ZLOTYS AND NET PROFIT BY ABOUT 213.8 MILLION ZLOTYS
    * SAID PROVISION IS RELATED TO THE REGULATION OF THE
MINISTER OF
CLIMATE AND THE ENVIRONMENT, AMENDING THE REGULATION ON THE
METHOD OF SHAPING AND CALCULATING TARIFFS AND THE METHOD OF
SETTLEMENTS IN ELECTRICITY TRADING 
    * THE MCE REGULATION INTRODUCES A MECHANISM FOR REDUCING THE
AMOUNTS PAYABLE BY HOUSEHOLDS TO ELECTRICITY TRADING COMPANIES
FOR 2023
    * THE PROVISION AMOUNT OF ABOUT 264 MILLION ZLOTYS HAS BEEN
DETERMINED BASED ON ESTIMATES THE PREPARATION OF WHICH WAS
FOUNDED ON THE ASSUMPTION THAT EACH HOUSEHOLD ELECTRICITY
OFFTAKE POINT WHOSE SETTLEMENT WILL COVER 2023 WILL FULFIL ONE
OF THE CONDITIONS SET FORTH IN THE REGULATION AND THUS WILL BE
GRANTED A REDUCTION IN THE AMOUNT OF ITS PAYABLES
    * THE PROVISION HAS BEEN ESTIMATED IN THE ABSENCE OF A LEGAL
SETTLEMENT REGARDING THE COMPENSATION SYSTEM BASED ON THE
ASSUMPTION THAT IT WILL NOT BE APPLICABLE TO REVENUES LOST IN
CONNECTION WITH THE ENTRY INTO FORCE OF THE MCE REGULATION

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM6crDfWa
 Further company coverage:  ENAE.WA  

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