Brief: Enea Says Bogdanka Might Not Deliver About 1.4 Mln Tons Of Coal In 2022

Lubelski Wegiel Bogdanka SA

19/09/2022 06:12

Sept 19 (Reuters) - Enea SA  ENAE.WA :
    * SAID ON SATURDAY THAT IT HAS OBTAINED INFORMATION ON THE
RECEIPT
BY ENEA TRADING FROM LUBELSKI WĘGIEL "BOGDANKA", OF LETTERS IN
WHICH BOGDANKA NOTIFIED OF THE OCCURRENCE OF CIRCUMSTANCES
PREVENTING THE PERFORMANCE OF CONTRACTS WITH GENERATION
COMPANIES OF THE ENEA GROUP FOR THE DELIVERY OF BITUMINOUS COAL
    * ACCORDING TO THE INFORMATION PROVIDED IN THE SAID LETTERS,
BOGDANKA ESTIMATES THAT, IN THE WORST-CASE SCENARIO, THE
NON-PERFORMANCE OF THE CONTRACTS ENTERED INTO WITH ENEA
WYTWARZANIE, ENEA ELEKTROWNIA POŁANIEC AND ENEA CIEPŁO WILL
TRANSLATE INTO THE INABILITY TO DELIVER ABOUT 1.441 MILLION TONS
OF COAL BY THE END OF 2022
    * THE LETTERS DO NOT CONTAIN ANY ESTIMATES CONCERNING
DELIVERIES
FOR 2023 AND BEYOND
    * ENEA TRADING ESTIMATES THAT THE VOLUME OF BITUMINOUS COAL
THAT
WOULD HAVE TO BE PURCHASED BY THE ENEA GROUP'S GENERATION
COMPANIES FROM SUPPLIERS OTHER THAN BOGDANKA IN ORDER TO
MAINTAIN THE SYSTEMICALLY REQUIRED LEVEL OF FUEL INVENTORIES AND
PROPERLY PERFORM THEIR EXISTING CONTRACTS FOR THE SALE OF
ELECTRICITY IN 2022 IS ABOUT 0.965 MILLION TONS
    * ACCORDINGLY, THE PROCESS OF REVIEWING PROPOSALS OBTAINED
FROM
ALTERNATIVE SUPPLIERS AND CONTRACTING COAL DELIVERIES WITH THEM
IS CURRENTLY IN PROGRESS
    * DUE TO THE CURRENT GEOPOLITICAL SITUATION, ANY PURCHASES
OF COAL
FUEL WILL RESULT IN THE INEVITABILITY OF INCURRING ADDITIONAL
SIGNIFICANT EXPENSES
    * DETAILED ANALYSES AIMED AT THE ESTIMATION OF SUCH
NECESSARY
ADDITIONAL EXPENSES AND THE VALUE OF PROVISIONS TO BE
ESTABLISHED ON THIS ACCOUNT ARE IN PROGRESS

        
 Source text: https://bit.ly/3RSFqAk
 Further company coverage:  ENAE.WA  

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