The Ministry of State Assets (MAP) has approved the application of Tauron Wydobycie – a subsidiary of Tauron Polska Energii – for subsidies to reduce production capacity for 2022 in an estimated amount of PLN 1.15 billion, the group said. The additional payments will be granted in the form of treasury securities provided for increasing the capital of Tauron Wydobycie.
“The estimated value of the subsidies for Tauron Wydobycie for 2022 has been set at approx. PLN 1.15 billion, but taking into account the situation on the coal market (limited supply resulting in an increase in coal prices), this amount may decrease” – reads the release .
“Including Tauron Wydobycie in the support system will have a positive impact on the liquidity of the Upstream segment within the issuer’s capital group,” it was noted.
Tauron Polska Energia is a holding company in the capital group that deals with coal mining, production, distribution and sale of electricity and heat. The Tauron Group covers 18% of the country’s territory and is the largest energy distributor in Poland and one of the largest economic entities in the country. The group includes, among others Tauron Wydobycie, Tauron Wytwarzanie, Tauron Ekoenergia, Tauron Ciepło, Tauron Dystrybucja, Tauron Sprzedaż and Tauron Customer Service.