Summary of the year

• a new Management Board headed by President Wojciech Dąbrowski commenced its work in February;
• we reviewed the projects in the Group, closing projects outside the core business;
• the Holding Council of the PGE Group was established;
• we continued the expansion of the portfolio of renewable energy assets;
• the PGE Group’s Strategy until 2030 was presented with an outlook until 2050.

The new Strategy of the PGE Group presents a transformation plan aimed at climate neutrality of the Group in 2050.

In addition, it should be remembered that since March 2020 we have been working in difficult conditions, struggling together with the coronavirus pandemic and at the same time – as the largest energy producer in Poland – ensuring uninterrupted electricity supplies to Polish homes, institutions and enterprises. The efficient organization of work in our companies allowed for uninterrupted functioning in a demanding sanitary regime, and as a Group, we also contributed our donation to supporting the fight against coronavirus – by donating funds to hospitals. We cannot forget about our employees, who at that time became involved in helping with the call centre of the National Health Fund.

Looking at PGE’s financial results – we have reduced our debt by over PLN 2 billion during the year. The Management Board reduced unnecessary expenses and focused on investments with the highest rate of return. Projects that did not guarantee adequate profits in the future were closed. The Group’s management efforts and financial stability have been noticed by rating agencies. PGE maintained the highest credit ratings among fuel and energy groups in Poland.