WARSAW--Poland's PGE Polska Grupa Energetyczna SA (PGE.WA) said
late Tuesday it expects a series of one-time events to weigh on its
fourth-quarter net profit by about 1.21 billion zloty ($391
million).
MAIN FACTS:
-The state-controlled company plans to write-down the value of
its Dolna Odra power plant by PLN1.49 billion.
-PGE will write-down by PLN156 million its project to capture
and store carbon dioxide because a lack of joint financing from the
European Union prevented it from getting other financing for the
experimental project.
-The company will report a gain of about PLN1.25 billion at its
conventional energy core business.
-This gain results from higher compensation for favorable
long-term contracts made in previous years, since cancelled, whose
formula has taken into account that power prices have fallen.
-PGE is scheduled to release its fourth-quarter consolidated
earnings reports March 14.
Write to Marynia Kruk at marynia.kruk@dowjones.com
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