The net profit of the Polish Energy Group for the first half of 2025 will be reduced by over PLN 11 billion. This is mainly a huge loss of values of assets related to conventional energy (fossil fuels such as coal). The company has just undergone tests related to this.
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The company explains that this type of tests are cyclical activities. “This obligation results from the international accounting standard 36 (IAS 36), which indicates a list of premises – both internal and external – which may indicate the loss of assets. In the case of their identification, the Company is obliged to carry out appropriate tests” – informs Business Insider Polska PGE.
As we read, “write -offs made as a result of the tests are the result of the standard adaptation of the accounting value of assets to their real utility value, taking into account current market conditions”.
About 97 percent write -offs concern coal activities, which is in line with the assumptions presented in the new PGE strategy until 2035 and with a previously signaled operational gap, which was also informed by the Ministry of State Asset during the presentation of the final report on the separation of coal assets. This is a natural consequence of market changes that affect the value of the coal mine and power plants – including a decrease in market share (along with the decreasing production use of coal units) and a reduction in the production margin (along with falling energy prices), while there is no regulatory mechanisms that could cover these losses in the long run, “informs PGE.
As we read in the communiqué, “In the area of renewable energy, the tests also showed the need to make copies – the vast majority They apply to photovoltaic farms and are also the result of market changes on the energy market “.
The company ensures that this is in line with the messages contained in the strategy publications.
“From the perspective of PGE and its shareholders, it should be emphasized that these write -offs are non -accessible, which means that they do not directly affect the company's cash flows,” the company points.
