Glossary

Abbreviation and trade term Full name / explanation
1. Abener Energia Abener Energia S.A. (Joint Stock Company) with its registered office in Campus Palmas Altas (Sevilla).
2. Amon Amon sp. z o.o. (Ltd.) with its registered office in Łebcz.
3. ARA Dollar based carbon price index in the EU. Loco Amsterdam – Rotterdam – Antwerp ports
4. ARE Agencja Rynku Energii S.A. (Energy Market Agency) with its registered office in Warsaw.
5. AVAL-1 AVAL-1 sp. z o. o. (Ltd.) with its registered office in Szczecin.
6. BASE (BASE Contract) A baseload contract for the supply of electricity at all hours of the period, for example the BASE contract for March 2021 is related to the supply of the same amount of electricity during all hours of the month of March 2021.
7. BGK Bank Gospodarstwa Krajowego with its registered office in Warsaw.
8. Bioeko Grupa TAURON Bioeko Grupa TAURON Sp. z o.o. (Ltd.) with its registered office in Stalowa Wola.
9. B+R (R&D) Research and Development (R&D).
10. B+R+I (R&D&I). Research, Development and Innovations (R&D&I).
11. CAPEX Capital Expenditures.
12. Cash pool True real time (online) cash pool structure, implemented under the cash management agreement, is based on the daily limits. As a result of the implementation of the cash pool mechanism, cash transfers are made between the accounts of the service participants and the Pool Leader’s account.
13. CDS Clean Dark Spread – margin ratio used to calculate the profitability of electricity production, taking into account the revenues from the sale of electricity and the cost of fuel and CO2 emission allowances.
14. CES Customer Effort Score – ration used to measure the degree of effort that must be taken by client to obtain answer to his/her question or a solution to his/her problem.
15. 15. Color certificates Property rights based on the certificates of origin of electricity generated in the way that is subject to support, the so-called color certificates:
  • green – certificates of origin of electricity from RES,
  • blue – certificates of origin of electricity generated from agricultural biogas.
  • white – energy efficiency certificates (mechanism stimulating and forcing pro-savings behaviors)
  • yellow – certificates of origin of electricity generated in co-generation from gas-fired sources or with the total installed capacity below 1 MW,
  • red – certificates of origin of electricity from co-generation (CHP certificates – Combined Heat and Power),
  • violet – certificates of origin of electricity generated in co-generation fired using methane released and captured during underground mining works in active, in liquidation or liquidated hard coal mines, or using gas obtained from biomass processing.
16. COVID-19 Coronavirus Disease 2019 – acute respiratory system contagious disease caused by the SARS-CoV-2 virus infection. The disease was first diagnosed and described in November 2019 in central China in the city of Wuhan, Hubei Province.
17. CSI Customer Satisfaction Index – an index used in marketing to determine the level of customer satisfaction with products or services offered by the company.
18. CSR Corporate Social Responsibility.
19. CUW Shared Services Center (Centrum Usług Wspólnych – CUW) – separate organizational units responsible for providing a specific range of support services (CUW R – accounting services, CUW HR – human resources services, CUW IT – IT services, CUW Insurance, CUW Protection).
20. CVC Corporate Venture Capital – Venture Capital (VC) investments carried out by VC funds with the intention of achieving not only financial goals, but also strategic (industry) goals set by a large company (corporation) which is the capital donor for this fund. VC are capital investments made on the OTC market in business ventures that are in the early stages of development. CVC is a development of VC as a way of investing capital and is to have a positive impact on the industry objectives of TAURON Capital Group.
21. DMS Distribution Management System – distribution grid management system.
22. Best Practices 2021 Document entitled Best Practices of WSE Listed Companies 2021, adopted by the Supervisory Board of the Warsaw Stock Exchange S.A. on March 29, 2021, effective as of July 1, 2021. The document replaced the Best Practices of WSE Listed Companies 2016 in force before, adopted by the Supervisory Board of the Warsaw Stock Exchange S.A. on October 13, 2015.
23. EBI European Investment Bank with its registered office in Luxembourg.
24. EBIT Earnings Before Interest and Taxes.
25. EBITDA Earnings Before Interest, Taxes, Depreciation and Amortization.
26. EC Stalowa Wola Elektrociepłownia Stalowa Wola S.A. (Joint Stock Company) with its registered office in Stalowa Wola (Stalowa Wola Combined Heat and Power Plant (CHP)).
27. EEC Magenta ASI EEC Magenta limited liability company ASI limited joint stock partnership with its registered office in Warsaw.
28. EEC Magenta 2 ASI EEC Magenta limited liability company 2 ASI limited joint stock partnership with its registered office in Warsaw
29. EEC Ventures 2 EEC Ventures limited liability company 2 limited joint stock partnership with its registered office in Warsaw
30. EEX (EEX exchange) European Energy Exchange – the European energy exchange in Leipzig, where the contracts and derivatives for electricity for various European countries are traded, as well as the primary auctions of the CO2 emission allowances are conducted.
31. Enea Enea S.A. (Joint Stock Company) with its registered office in Poznań.
32. Energa Energa S.A. (Joint Stock Company) with its registered office in Gdańsk.
33. Energetyka Cieszyńska Energetyka Cieszyńska sp. z o.o. with its registered office in Cieszyn
34. ERM Enterprise Risk Management.
35. ESG Environmental, Social and Governance – environmental, social and corporate governance factors used in the investment decision making process.
36. ESS Energy Store System.
37. EU ETS European Union Emission Trading System.
38. EUA European Union Allowance – an allowance to introduce the carbon dioxide (CO2) equivalent to the air, within the meaning of Article 2 section 4 of the act of July 17, 2009, on the management system of emissions of greenhouse gases and other substances, which is used for settlements of emission level within the system and which can be managed under the rules provided in the Act of April 28, 2011, on the system of greenhouse gases emission allowances trading
39. EUR Euro – a common European currency introduced in some EU member states
40. FF PARK PV1 FF PARK PV1 sp. z o.o. with its registeredoffice in Katowice
41. FIZAN Fundusz Inwestycyjny Zamknięty Aktywów Niepublicznych (Closed-end Private Equity Investment Fund)
42. WSE (GPW) Warsaw Stock Exchange (WSE) (Giełda Papierów Wartościowych w Warszawie S.A. (Joint Stock Company)) with its registered office in Warsaw.
43. TAURON Capital Group TAURON Capital Group Polska Energia S.A. (Joint Stock Company)
44. GZE Górnośląski Zakład Elektroenergetyczny S.A. (Joint Stock Company) with its registered office in Gliwice.
45. HEMS Home Energy Management System.
46. ICE (ICE exchange) InterContinental Exchange – the commodity and financial exchange, where, among others, the contracts for oil, coal, natural gas and the CO2 emission allowances are traded.
47. IRGiT Izba Rozliczeniowa Giełd Towarowych S.A. (Warsaw Commodity Exchange Clearing House) with its registered office in Warsaw.
48. IRS Interest Rate Swap – interest payment swap contract, one of the main derivatives that is traded on the interbank market
49. KGHM Polska Miedź KGHM Polska Miedź S.A. (Polish Copper Mining Joint Stock Company) with its registered office in Lubin.
50. Audit Committee Audit Committee of the Supervisory Board of TAURON Polska Energia S.A.
51. Nominations and Compensation Committee Nominations and Compensation Committee of the Supervisory Board of TAURON Polska Energia S.A.
52. 52. Strategy Committee Strategy Committee of the Supervisory Board of TAURON Polska Energia S.A.
53. KPI Key Performance Indicators – key financial and non-financial indicators used as ways to measure progress of achieving goals of an organization.
54. KSH Act of September 15, 2000, Code of Commercial Companies
55. Kopalnia Wapienia Czatkowice Kopalnia Wapienia (Limestone Mine) ”Czatkowice” sp. z o.o. (Ltd.) with its registered office in Krzeszowice.
56. Marselwind Marselwind sp. z o.o. (Ltd.) with its registered office in Katowice.
57. Mg Megagram – million gram (1 000 000 g), i.e. ton.
58. Business Model Document entitled TAURON Group’s Business and Operational Model
59. IFRS (MSSF) International Financial Reporting Standards.
60. NBP National Bank of Poland (Narodowy Bank Polski) with its registered office in Warsaw.
61. NCBR National Research and Development Center (Narodowe Centrum Badań i Rozwoju) with its registered office in Warsaw.
62. Nowe Jaworzno Grupa TAURON Nowe Jaworzno Grupa TAURON sp. z o.o. (Ltd.) with its registered office in Jaworzno.
63. NSP Net Promoter Score – tool used to assess loyalty of a company’s clients
64. Line of Business (Segment) Six areas (segments) of TAURON Capital Group’s core operations set up by the Company: Trading, Generation, RES, Heat, Distribution and Supply
65. OPEC Organization of the Petroleum Exporting Countries with its registered office in Vienna.
66. DSO (OSD) Distribution System Operator (Operator Systemu Dystrybucyjnego – OSD)
67. TSO (OSP) Transmission System Operator (Operator Systemu Przesyłowego – OSP)
68. OTC (OTC market) Over The Counter Market – European OTC market.
69. RES (OZE) Renewable Energy Sources (Odnawialne Źródła Energii – OZE)
70. PEAK (PEAK contract) Peak contract for the supply of electricity during business hours (8-22) on business days, for example the PEAK contract for March 2020 is related to the supply of the same amount of electricity on all business days in March 2020 between 8 and 22.
71. PEPKH Polska Energia – Pierwsza Kompania Handlowa sp. z o.o. (Ltd.) with its registered office in Warsaw.
72. PFR Polski Fundusz Rozwoju S.A. (Polish Development Fund Joint Stock Company) with its registered office in Warsaw.
73. PGE Baltica 4 PGE Baltica 4 sp. z o.o. (Ltd.) with its registered office in Warsaw
74. PGG Polska Grupa Górnicza S.A. (Polish Mining Group) with its registered office in Katowice
75. PGE PGE Polska Grupa Energetyczna S.A. (Joint Stock Company) with its registered office in Warsaw.
76. PGE EJ 1 PGE EJ 1 sp. z o.o. (Ltd.) with its registered office in Warsaw.
77. PGK Tax Capital Group (Podatkowa Grupa Kapitałowa – PGK).
78. PGNiG Polskie Górnictwo Naftowe i Gazownictwo S.A. (Polish Oil and Gas Joint Stock Company) with its registered office in Warsaw.
79. PKB (GDP) Gross Domestic Product (Produkt Krajowy Brutto).
80. PLN Polish zloty currency symbol – zł (PLN)
81. PMEF Property rights related to the energy efficiency certificates
82. PMOZE Property rights related to the certificates of origin confirming generation of electricity in RES before March 1, 2009.
83. PMOZE_A Property rights related to the certificates of origin confirming generation of electricity in RES after March 1, 2009.
84. PMOZE-BIO Property rights related to the certificates of origin confirming generation of electricity from agricultural biogas from July 1, 2016
85. Polski Holding Obronny Polski Holding Obronny with its registered office in Warsaw
86. POPC Digital Poland Operational Program. (Program Operacyjny Polska Cyfrowa – POPC).
87. PRO Partnership, Development, Boldness (Partnerstwo Rozwój Odwaga – PRO) – key corporate values reflecting the way TAURON Capital Group wants to achieve its business goals.
88. PSE Polskie Sieci Elektroenergetyczne S.A. (Joint Stock Company) with its registered office in Konstancin-Jeziorna.
89. Balancing Market (Rynek Bilansujący – RB) Balancing Market (Rynek Bilansujący) – technical market on which the demand for and supply of electricity in the National Power System (KSE) is balanced.
90. RDB (Intraday Market) Intraday Market – a market operating on the POLPX TGE, where trading is carried out in a continuous trading formula, 24 hours a day. Instruments with delivery on the next day are traded, with their trading starting at 14:00 the day before the delivery and gradually exiting the market one hour before the start of the delivery.
91. RDN (Day Ahead Market) Day Ahead Market – a market operating on the POLPX (TGE), where trading is carried out one and two days ahead of the delivery.
92. RDNg Day Ahead Gas Market – a market operating on the POLPX (TGE), where trading is carried out every day and is conducted in the continuous trading system.
93. RTT Futures Commodity Market (Rynek Terminowy Towarowy – RTT) – market operating on the POLPX (TGE), where trading in contracts is carried out in the continuous trading system and in the auction system.
94. SARS-CoV-2 Severe Acute Respiratory Syndrome – virus that causes the COVID-19 disease.
95. Segment, Segments of Operations (Operating Segments) TAURON Capital Group’s segments of operations used in the statutory reporting process. TAURON Capital Group’s results from operations are allocated to the following 5 main Segments: Mining, Generation, RES, Distribution and Supply, as well as, additionally, Other Operations.
96. SLA Service Level Agreement.
97. Consolidated Financial Statements of TAURON Capital Group Document under the title Consolidated financial statements of TAURON Polska Energia S.A. Capital Group in accordance with the International Financial Reporting Standards approved by the European Union for the year ended on December 31, 2022.
98. Financial Statements of TAURON Document under the title Financial statements of TAURON Polska Energia S.A. in accordance with the International Financial Reporting Standards approved by the European Union for the year ended on December 31, 2022.
99. SPOT (SPOT market) With respect to electricity, it is the place where trade transactions for electricity are concluded with delivery not later than 3 days after the date of the transaction’s conclusion (most often it is one day before the date of delivery). The operation of the SPOT market for electricity is strongly tied to the operation of the Balancing Market run by the TSO.
100. Company TAURON Polska Energia S.A. (Joint Stock Company) with its registered office in Katowice.
101. Company’s Articles of Association Document entitled Articles of Association of TAURON Polska Energia S.A. (Joint Stock Company)
102. 102. Strategy Document entitled TAURON Group’s Strategy for 2022-2030 with outlook until 2050 adopted on June 22, 2022.
103. TAMEH HOLDING TAMEH HOLDING sp. z o.o. (Ltd.) with its registered office in Dąbrowa Górnicza.
104. TAMEH POLSKA TAMEH POLSKA sp. z o.o. (Ltd.) with its registered office in Dąbrowa Górnicza.
105. TAURON TAURON Polska Energia S.A. (Joint Stock Company) with its registered office in Katowice.
106. TAURON Ciepło TAURON Ciepło sp. z o.o. (Ltd.) with its registered office in Katowice.
107. TAURON Czech Energy TAURON Czech Energy s.r.o. with its registered office in Ostrava (Czech Republic).
108. TAURON Dystrybucja TAURON Dystrybucja S.A. (Joint Stock Company) with its registered office in Cracow.
109. TAURON Ekoenergia TAURON Ekoenergia sp. z o.o. (Ltd.) with its registered office in Jelenia Góra.
110. TAURON Nowe Technologie TAURON Nowe Technologie S.A. (Joint Stock Company) (formerly: TAURON Dystrybucja Serwis S.A. (Joint Stock Company)) with its registered office in Wrocław.
111. TAURON Obsługa Klienta TAURON Obsługa Klienta sp. z o.o. (Ltd.) with its registered office in Wrocław.
112. TAURON Serwis TAURON Serwis sp. z o.o. (Ltd.) with its registered office in Katowice.
113. TAURON Sprzedaż TAURON Sprzedaż sp. z o.o. (Ltd.) with its registered office in Cracow.
114. TAURON Sprzedaż GZE TAURON Sprzedaż GZE sp. z o.o. (Ltd.) with its registered office in Gliwice.
115. TAURON Wydobycie TAURON Wydobycie S.A. (Joint Stock Company) with its registered office in Jaworzno.
116. TAURON Wytwarzanie TAURON Wytwarzanie S.A. (Joint Stock Company) with its registered office in Jaworzno.
117. TAURON Zielona Energia TAURON Zielona Energia sp. z o.o. (Ltd.) with its registered office in Katowice
118. TEC1 TEC1 sp. z o.o. (Ltd.) with its registered office in Katowice.
119. TEC2 TEC2 sp. z o.o. (Ltd.) with its registered office in Katowice.
120. TEC3 TEC3 sp. z o.o. (Ltd.) with its registered office in Katowice.
121. TGE Towarowa Giełda Energii S.A. (Polish Power Exchange – POLPX) with its registered office in Warsaw.
122. TGEozebio Property rights that confirm the production of electricity from renewable energy sources using agricultural biogas.
123. EU (UE) European Union (Unia Europejska – UE).
124. UOKiK Office of Competition and Consumer Protection (Urząd Ochrony Konkurencji i Konsumentów – UOKiK)
125. Unbundling Separation of the operations with respect to transmission or distribution of electricity from the operations that involve the production and delivery (supply) of this electricity to the final consumers.
126. ERO (URE) Energy Regulatory Office (Urząd Regulacji Energetyki – URE)
127. USA United States of America.
128. USD United States Dollar – US dollar’s international acronym
129. Usługi Grupa TAURON Usługi Grupa TAURON sp. z o.o. (Ltd.) with its registered office in Tarnów.
130. WACC Weighted Average Cost of Capital – the weighted average cost of capital of the company, weighted respectively by the share of debt and equity in the company’s capital structure.
131. Wind T1 Wind T1 sp. z o. o. . z o.o. with its registered office in Jelenia Góra.
132. WIND T30MW WIND T30MW sp. z o.o. (Ltd.) with its registered office in Pieńków.
133. WIND T4 WIND T4 sp. z o.o. (Ltd.) with its registered office in Katowice.
134. WINDPOWER Gamów WINDPOWER Gamów sp. z o.o. (Ltd.) with its registered office in Katowice.
135. Wsparcie Grupa TAURON Wsparcie Grupa TAURON sp. z o.o. (Ltd.) with its registered office in Tarnów.
136. GM (WZ/ZW) General Meeting (GM) / Shareholders’ (Partners’) Meeting (Walne Zgromadzenie – WZ / Zgromadzenie Wspólników – ZW)
137. ZG Coal Mine (Zakład Górniczy – ZG) (Janina Coal Maine in Libiąż, Sobieski Coal Mine in Jaworzno, Brzeszcze Coal Mine in Brzeszcze).
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