Christmas and the end of the year always evoke recapitulations. A particular period of time approaches conclusion both in the life of an individual as well as of the company.

The last year was rich in challenges for our company. We brought to an end and commissioned the biggest investment of the last years – the cutting-edge 460 MW Power Unit in Łagisza Power Plant. While working on this investment, many persons tried to persuade us it was an unnecessary endeavor as Poland has the surplus of the installed capacity… just think where would Południowy Koncern Energetyczny have been now, had we listened to such advice? We have always been of the opinion we need modern power units as with time we will have to shut down old, uneconomic and non-ecological units. All activities in the investment sphere have always been focused on long-term activities, vision of our company and continuous enhancement of the company market value.

We also commenced another investment – the erection of the state-of-the-art heat and power unit equipped with a heat accumulator in Bielsko-Biała Heat and Power Plant EC-1. The city of Bielsko-Biała will benefit from a modern and ecological heat source and the company is yet again investing in new technologies, market development and the company’s future.

Our future also lies in the biomass co-firing in all power plants and heat and power plants i.e. the generation of the green energy. The new year will bring next challenges: work on further investments, activities concerning the Initial Public Offering of Tauron Polska Energia, necessity to comply with EU requirements with regard to green house gasses emissions.

The above general and short list clearly shows how crucial and difficult this year will be to our company. Nonetheless, we have never sought the easy way but always focused on the well being if the company. This time it will be no different.

Jan Kurp

Chairman of the PKE S.A. Management Board