Changes in owned CO₂ emission rights for 2022

In 2022, CO₂ emissions in the ORLEN Group amounted to 25,352 thousand tonnes, while the value of the provision for CO₂ emissions as at 31 December 2022 amounted to PLN 9,250 million (note 14.11).

The market value of owned EUA rights exceeds their total carrying amount, therefore the Group does not identify impairment indicators.

As at 31 December 2022 the market value of one EUA amounted to PLN 393.81 (representing EUR 83.97 at exchange rate as at 31 December 2022) (source: www.theice.com).

Change in owned rights to energy certifiactes for 2022

In 2022, the volume redemption of energy certificates in ORLEN Group amounted to 1,481 thousand MWh, while the value of related provision as at 31 December 2021 amounted to PLN 596 million (note 14.11).

As at 31 December 2022 book value CO₂ emission rights and energy certificates blocked within hedging deposits in the Clearing and Settlement House (Izba Rozliczeniowa Giełd Towarowych S.A. (IRGiT) in Polish) amounted to:

• PLN 134 million and related to 400 thousand of EUA rights from ORLEN,
• PLN 28 million and related to 240 thousand MWh colour energies of the ENERGA Group.

Additionally, as at 31 December 2022 and as at 31 December 2021 the Group recognised property rights arising under energy certificates in the amount PLN 88 million and PLN 546 million, respectively in trade and other receivables (note 14.5.2).