EQS-News

Photon Energy Group Secures Polish Capacity Market Contracts for 316 MW, Locking in Revenues of EUR 13 Million for 2025

Issuer: Photon Energy NV / Key word(s): Results Forecast Photon Energy Group Secures Polish Capacity Market Contracts for 316 MW, Locking in Revenues of EUR 13 Million for 2025 21.03.2024 / 10:38 CET/CEST The issuer is solely responsible for the content of this announcement. Photon Energy Group Secures Polish Capacity Market Contracts for 316 MW, Locking in Revenues of EUR 13 Million for 2025

• As a result of additional auctions for 2025, the Company concluded contracts for 316 MW (out of which 315 MW is DSR capacity) in addition to the previously contracted 10 MW for the same year, ensuring PLN 56.1 million (EUR 13 million) in revenues for 2025. 
• Due to the relatively low demand for capacity and recent successful optimisations in the secondary market, the Company opted to withdraw from the auction with a portion of the previously planned volume of 490 MW and to pursue additional contracts afterwards to maximise gross profitability. 
• The successful auction results come just before the new ancillary services market opens in Poland, offering potential for additional revenues from flexibility on top of the Capacity Market.

 

Amsterdam – 21 March 2024 – Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) (the “Group” or the “Company”) has announced that its subsidiary Lerta JRM Sp. z o.o. (part of the Company’s New Energy Division) has succeeded in the additional 2025 Polish capacity auction with 315 MW of Demand Side Response (“DSR”) capacity and 1.088 MW of renewable generation. With the previously contracted capacity of 10 MW for 2025, the Company’s total capacity obligation of 316.088 MW will ensure PLN 56.1 million (EUR 13 million) in Capacity Market revenues for 2025.

 

The Additional 2025 Capacity Auctions

On 14 March 2024, PSE S.A. (the Polish Transmission System Operator) conducted its additional auctions for each quarter of 2025. Photon Energy participated and secured 316 MW in capacity, with 315 MW designated for DSR (Demand Side Response) units. Including the previously contracted capacity, the Group’s total maximum capacity contracted with PSE will be 326.088 MW in Q1 2025 and lower in the following quarters. The auction for Q1 cleared in the second round, while Q2, Q3 and Q4 cleared in the eighth round, reflecting a lower demand for capacity in these quarters. Based on preliminary results, the Group secured an average price weighted by volume of PLN 172,168 (EUR 39,892) per MW/year, including the previously contracted capacity of 10 MW, ensuring contracted revenues of PLN 56.1 million (EUR 13 million) for 2025.