24.3 Balance of CO2 emission allowances recorded in the Union Registry

Table 1

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Balance of emission allowances Year ended
31 December 2020
Year ended
31 December 2019
Allowances recorded at the beginning of the financial year 13,784,891 11,469,679
Allowances surrendered:
in the installations of TAURON Wytwarzanie S.A. (previous year’s emissions) (10,562,031) (1,172,702)
in the installations of TAURON Ciepło Sp. z o.o. (previous year’s emissions) (1,599,873) (1,914,237)
Allocation of free-of-charge allowances 223,609 302,651
Allowances purchased on the secondary market 12,555,500 11,047,500
Allowances sold on the secondary market (7,669,500) (5,948,000)
Allowances recorded at the end of the financial year, of which: 6,732,596 13,784,891
Allowances intended for surrender for a given year in the installations of: (4,048,068) (11,413,633)
TAURON Wytwarzanie S.A (3,385,799) (9,815,035)
TAURON Ciepło Sp. z o.o. (444,797) (1,598,598)
Nowe Jaworzno Grupa TAURON Sp. z o.o. (217,472)

 

In 2020, TAURON Group companies were allocated free emission allowances under Article 10a of Directive 2009/29/EC of the European Parliament and of the Council of 23 April 2009, in the amount of 223,609 EUA for heat production. The remaining allowances, necessary to balance the 2020 emissions needs, have been purchased and contracted for purchase on the secondary market.

In order to secure liabilities of TAURON Polska Energia S.A. resulting from transactions concluded by the Company on the Polish Power Exchange, agreements were concluded for the transfer of CO2 emission allowances to the Warsaw Commodity Clearing House (Izba Rozliczeniowa Giełd Towarowych S.A.), which is discussed in more detail in Note 55 to these consolidated financial statements.