1Q 2025 Summary
Key operational and financial data | 1Q 2025 | Change y/y | |
Sale of electricity: | 0,46 | TWh | -8,00% |
| 0,41 | TWh | +51,85% |
| 0,05 | TWh | -78,26% |
Achieved average electricity sale price (1) | 597,07 | PLN/MWh | -14,19% |
Average purchase price of EUA | 274,62 | PLN/EUA | -32,37% |
Sale revenues | 309 | m PLN | -40,46% |
EBITDA: | (5) | m PLN | -120,33% |
Net result: | (14) | m PLN | -197,03% |
CAPEX: | 220 | m PLN | 2 150,25% |
Cash (2): | 412 | m PLN | -38,98% |
(1) Average price calculated as revenues from the sale of energy (including ancillary services) divided by the sales volume.
(2) Cash and cash equivalents and other current financial assets. 2
1Q 2025 Summary [m PLN] REVENUESEBITDA NET RESULT
520
173
309
35
22
142
252
205
1Q 2025
1Q 2024
Other
Electricity rom resale
Electricity from own production
27
-5
1Q 2025
1Q 2024
(5)
(14)
1Q 2025
1Q 2024
The conditions of conducting ZE PAK business in 2025 have changed significantly compared to 2024:
energy production using a single power block - a block with a capacity of 474 MW
no main auction winners in the capacity market (revenues only from the secondary market)
no revenues from LTCs
the rise in the importance of balancing services
terminated activities related to the supply of biomass to PAK - PCE Biofuels and Hydrogen 3
SELECTED ELECTRICITY MARKET DATA
4
Electricity prices
Electricity prices (TGeBase)
433,80
472,68
480,40
356,28
392,57
900
700
PLN/MWh
500
300
100
max. min.
-100
1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025
Prices of a futures contract for the supply of electricity (band with annual delivery)
540
520
PLN/MWh
500
480
460
440
420
2-Jan-2024
400
price
473,08
454,49
456,41
446,48
427,96
22-Jan-2024
11-Feb-2024
2-Mar-2024
22-Mar-2024
11-Apr-2024
1-May-2024
21-May-2024
10-Jun-2024
30-Jun-2024
20-Jul-2024
9-Aug-2024
29-Aug-2024
18-Sep-2024
8-Oct-2024
28-Oct-2024
17-Nov-2024
7-Dec-2024
27-Dec-2024
16-Jan-2025
5-Feb-2025
25-Feb-2025
17-Mar-2025
quarterly average
5