PGE Polska Grupa Energetyczna S.A. (PGE SA or PGE Group, the name can be translated as ''Polish Energy Group'') is a state-owned public power company and the largest power producing company in

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populou ...

. PGE is listed on the

Warsaw Stock Exchange The Warsaw Stock Exchange (WSE), pl, Giełda Papierów Wartościowych w Warszawie, is a stock exchange in Warsaw, Poland. It has a market capitalization of PLN 1.05 trillion (EUR 232 billion; as of December 23, 2020). The WSE is a member of the ...

and is a constituent of the

WIG30 The WIG30 is a capitalization-weighted stock market index of the thirty largest companies on the Warsaw Stock Exchange The Warsaw Stock Exchange (WSE), pl, Giełda Papierów Wartościowych w Warszawie, is a stock exchange in Warsaw, Poland. I ...

index. The group is largely controlled by the Polish State Treasury who as of 9 July 2014 owns 58.39% of the public limited company. In addition to the activities of its core businesses of central and holdings companies in the generation and distribution of electricity, the group also trades electricity and other relevant products on the market. The total company revenue for 2015 was 28.542 billion złoty and the company made a net income loss of 3.032 billion złoty. In October 2020, PGE Polska Grupa Energetyczna published a new strategy by 2030 with a perspective by 2050 and a transformation plan aimed at achieving climate neutrality of the Group in 2050. The key directions of the PGE Group's development will be offshore and onshore wind energy, photovoltaics, grid infrastructure, low-emission heating and energy services. The area of divestment and limitation of activity will include coal energy and hard coal trade.

History

The company was founded as Polskie Sieci Elektroenergetyczne S.A. (translates as ''Polish Electrical Power Lines Share Company'') in 1990. In 2007 the Transmission System Operator division (

PSE-Operator Polskie Sieci Elektroenergetyczne S.A. (abbreviated PSE) is an electricity transmission system operator in Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces ...

) was separated from the PSE S.A. group. On 9 May 2007 Polska Grupa Energetyczna was established by the merger of PSE, PGE Energia SA and BOT Górnictwo i Energetyka S.A. On 6 November 2009 PGE participated in its

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

. On 19 March 2010 PGE was included in WIG20 index. In 2022, and 2023 it was reported that PGE was buying PKP Energetyka from

CVC Capital Partners CVC Capital Partners is a Luxembourg-based French private equity and investment advisory firm with approximately US$133 billion of assets under management and approximately €157 billion in secured commitments since inception across American, E ...

, CVC signed a preliminary agreement for the sale of PKP Energetyka In January 2023.

Operations

The PGE Group operates two large lignite mines and more than 40 power stations, including the

Bełchatów Power Station The Bełchatów Power Station is a coal-fired power station near Bełchatów, Poland. It is the largest thermal power station in Europe. The power station is owned and operated by PGE GiEK Oddział Elektrownia Bełchatów, a subsidiary of Polsk ...

, the fifth-largest coal-fired power station in the world. Power stations are fuelled mainly by

hard coal Anthracite, also known as hard coal, and black coal, is a hard, compact variety of coal that has a submetallic luster. It has the highest carbon content, the fewest impurities, and the highest energy density of all types of coal and is the hig ...

and

lignite Lignite, often referred to as brown coal, is a soft, brown, combustible, sedimentary rock formed from naturally compressed peat. It has a carbon content around 25–35%, and is considered the lowest rank of coal due to its relatively low hea ...

. The company consists of eight distribution system operator companies, eight electricity retail sales companies, an electricity wholesale company and enterprises operating in other industries (including the telecommunications). PGE holds a 38% market share in generation of electricity and an estimated 30% market share in supply in electricity for the year 2015. Projects of this company are, among possible other sources, funded by mBank (2020)

Nuclear energy

On 15 January 2009, the company announced a plan to build two nuclear power stations in Poland. It also participated in the

Visaginas Nuclear Power Plant Visaginas Nuclear Power Plant was a planned nuclear power plant project in Lithuania. It was proposed to be built at the site of the closed Ignalina Nuclear Power Plant, which was shut down on 31 December 2009 in accordance with Lithuania' ...

project in Lithuania. the Polish government was still considering whether to continue pursuing nuclear power in Poland, including resume construction of the Żarnowiec Nuclear Power Plant, whose construction has been stalled since 1990, but in May 2018 PGE decided to invest in

offshore wind power Offshore wind power or offshore wind energy is the generation of electricity through wind farms in bodies of water, usually at sea. There are higher wind speeds offshore than on land, so offshore farms generate more electricity per amount of c ...

instead.

Sponsorship

Polska Grupa Energetyczna has held the naming rights for PGE Skra Bełchatów volleyball club since 1991. The company bought the

naming rights Naming rights are a financial transaction and form of advertising or memorialization whereby a corporation, person, or other entity purchases the right to name a facility, object, location, program, or event, typically for a defined period of ...

for the PGE Arena Gdańsk, a

football Football is a family of team sports that involve, to varying degrees, Kick (football), kicking a Football (ball), ball to score a Goal (sport), goal. Unqualified, Football (word), the word ''football'' normally means the form of football tha ...

stadium in

Gdańsk Gdańsk ( , also ; ; csb, Gduńsk;Stefan Ramułt, ''Słownik języka pomorskiego, czyli kaszubskiego'', Kraków 1893, Gdańsk 2003, ISBN 83-87408-64-6. , Johann Georg Theodor Grässe, ''Orbis latinus oder Verzeichniss der lateinischen Benen ...

, Poland, for 35 million złoty (about €8.5 million) for a duration of five years (2016–2021). The 2010 Speedway World Cup is named according to PGE. PGE also holds the naming rights for the Stadion Narodowy in Warsaw since 2015.

References

External links

Company website
{{Authority control 1990 establishments in Poland Companies based in Warsaw Companies listed on the Warsaw Stock Exchange Electric power companies of Poland Energy companies established in 1990 Energy in Poland Government-owned companies of Poland Government-owned energy companies Lechia Gdańsk sponsors Polish brands