On 20 November 2017, ‘Economics & Market’, a specialist insert in leading Polish daily ‘Rzeczpospolita’, published a comment by Mr. Przemysław Maciak, Managing Partner at SMM Legal, on the possible renegotiation of the long-term agreements made by Energa-Obrót S.A.
SMM Legal is representing the Company in actions to invalidate framework agreements for the purchase of proprietary rights under certificates of origin for electricity generated from certain wind farms (also known as green certificates). ‘Rzeczpospolita’s’ journalists established that the Company has launched negotiations involving a number of parties, including the banks financing the wind farms. Commenting on the journalists’ findings about the possible renegotiation of long-term agreements, Mr. Maciak pointed to the diversity of the stakeholders and emphasized that any renegotiation is conditional upon the adoption of new prices that correspond to current market levels. Furthermore, Mr. Maciak reiterated that Energa-Obrót S.A. upholds its position as to the validity of actions filed with courts. At the same time, he suggested that there is a chance that Energa-Obrót S.A. would continue to work with investors holding less than half of the 22 long-term contracts.
The entire article was published in No. 260/2017 of ‘Rzeczpospolita’ and is also available online at: