Brief: Photon Energy Unit Gets Letter From PSE On Setting Off Remuneration For Performance Of Capacity Obligation

Photon Energy NV

23/02/2026 06:46

Feb 23 (Reuters) - Photon Energy N.V. PENP.WA:

UNIT PHOTON ENERGY TRADING PL RECEIVED A LETTER FROM POLSKIE SIECI ELEKTROENERGETYCZNE (PSE) IN WHICH PSE INFORMS THE COMPANY THAT IT INTENDS TO SET OFF THE REMUNERATION FOR THE PERFORMANCE OF THE CAPACITY OBLIGATION FOR JANUARY 2026 AGAINST THE AMOUNT WHICH IS SUBJECT OF A DISPUTE BETWEEN THE COMPANY AND PSE IN CONNECTION WITH THE ALLEGED FAILURE OF TWO CAPACITY MARKET UNITS, WHICH WERE SUBJECT TO CAPACITY MARKET CONTRACTS IN THE YEAR 2024 TO MEET THE EMISSION LIMIT SET FOR THE THE CAPACITY MARKET UNITS IN THE YEAR 2024

THE TOTAL GROSS AMOUNT OF PLN 4.5 MLN ARISING FROM THE RESPECTIVE CAPACITY AGREEMENTS OF THE COMPANY WILL BE SET OFF AGAINST THE TOTAL GROSS AMOUNT OF PLN 16.3 MLN, WHICH IS SUBJECT OF THE DISPUTE BETWEEN THE COMPANY AND PSE

ON 3 DECEMBER 2025, THE PRESIDENT OF THE ENERGY REGULATORY OFFICE ISSUED A DECISION SUPPORTING PSE'S POSITION WITH REGARD TO THE ALLEGED FAILURE OF TWO CAPACITY MARKET UNITS

ON 17 DECEMBER 2025, THE COMPANY FILED AN APPEAL AGAINST THE ENERGY REGULATORY OFFICE'S DECISION WITH THE COMPETITION AND CONSUMER PROTECTION COURT

THE COMPANY INTENDS TO ADDRESS THE COURT WITH A PETITION FOR AN INJUNCTION AGAINST PSE’S INTENTION TO OFFSET THE COMPANY’S CAPACITY MARKET REMUNERATION WITH THE DISPUTED AMOUNT

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