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[LA-DMA] Employees are the TAURON Group’s solid pillar and greatest value.  Their knowledge, skills and commitment are driving factors for the Group’s development and contribute to the quality of processes implemented in the organization. At the same time, employees are the Company’s best ambassadors who shape its public image both at an individual and collective level.

 

For this reason, the Group’s priorities include care for the safety and development of its human resources. We are committed to ensuring a friendly environment for our employees, one in which they will be able to pursue their professional ambitions. Our objective is to improve the professional potential of our employees and support them in building their career pathways within the TAURON Group.

In 2016, a total of 25,542 staff were employed in within the Group’s structures. The increase in headcount (by more than 1,000 staff) was due to the Group’s acquisition of Zakład Górniczy “Brzeszcze” (TAURON Wydobycie). 98% of the employees are hired under employment contracts executed for an indefinite term.

Breakdown of employees hired under indefinite-term employment contracts by gender

[G4-10]

Export table to Excel Zoom
Total number of staff hired under employment contracts 25 542 women 5 403
men 20 139
For a probationary period: 112 women 14
men 98
For a definite term: 366 women 154
men 212
For an indefinite term: 25 033 women 5 211
men 19 822
For substitution: 31 women 24
men 7

WE DEVELOP AN ETHICAL CULTURE AMONG EMPLOYEES

The Group’s corporate values, as reviewed in May 2016, are Partnership, Development, Boldness. They form the foundation on which our entire corporate organizational culture is based PRO values.

Our values also constitute the underpinning of our Code of Ethics defining desirable attitudes and behaviors in the workplace. 2016 was abundant with significant events which contributed to updates of the Code of Ethics. First and foremost, a new Business Strategy of the TAURON Group was published. Moreover, a new business model was implemented along with an updated organizational structure with a Compliance Officer’s Team at TAURON Polska Energia. Currently, the Teams responsibilities include management of the ethics area across the Group and compliance management, including the development of a compliance policy slated to form the cornerstone of the Group’s compliance management system (CMS).

Until December 2016, the TAURON Group had in place a set of then binding rules for reporting infringements, supervised on an ongoing basis by Ethics Commissions operating in each company.

The duties of an Ethics Commission include the instigation of explanatory proceedings and the resolution of contested issues. The Commission also scrutinizes anonymous notifications which may be submitted to it by e-mail or through a special mailbox available in each company. Any person reporting an infringement of the Code of Ethics is protected, and if he or she wishes to remain anonymous, then anonymity must be ensured.

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All employees of the TAURON Group are required to observe the provisions of the Code of Ethics. Its consolidated version may be consulted at any time, because the full contents of the document are available on the Tauronet in the “Ethics and values” tab. Moreover, every new employee is required to familiarize himself or herself with the Code and confirm this fact by submitting a statement to that effect.

[G4-15] As a co-founder and signatory of the Vision 2050: The New Agenda for Business in Poland exerting a strong impact on its local and national environments, TAURON intends to continue to attach great significance to an ethical conduct of business.

WE CARE FOR EQUAL OPPORTUNITIES IN THE WORKPLACE

We are fully aware of the fact that promoting diversity and promoting equal opportunities in the workplace are absolute necessities. Any organization whose human capital brings to the table diverse experience and other features benefits from the creation and development of its work environment. Calculating diversity-related indicators is important, because it enables identification of areas which require improvement. Respecting diversity and equal opportunities exerts a favorable impact on the organization, because it contributes to building the image of a good employer, which in turn translates into the bottom line.

[LA-DMA] For  this reason, our priority is to ensure equal opportunities for all our employees. No hints of discrimination are permitted in the workplace. These rules are guarded by Ethics Commissions operating in all member companies of the Group.

 

[LA-DMA] The principles of equal treatment  are applicable at each stage of development of every employee in the organization. Employees are hired on the basis of an objective and non-discriminatory verification of their qualifications and suitability for a particular job. The equality of opportunities in terms of development and career advancement is manifested by directing the process of external and internal recruitment at all employees and treating a candidate’s professional experience, skills and development needs as the only selection criterion.

Moreover, in order to facilitate objective job appraisal and consolidate job descriptions and compensation for each position in the Group’s member companies, job evaluations have been performed and wage grades have been introduced.

The principle of equal opportunity is also applied to the granting of perks and benefits to employees, regardless of the type of employment contract and number of hours for which they are hired.

 

[G4-LA2] Additional benefits offered to employees include:

  • Employee Pension Plan;
  • group life insurance;
  • MultiSport card for employees and their families;
  • discounts for purchases of electricity;
  • free coal allowance;
  • commuting allowance;
  • lunch allowance;
  • loan and benefit fund.

Due to the specific nature of our business, diversity management poses challenges in certain areas (for instance, in terms of gender diversity). Throughout the Group, 79% of workers are men. This proportion is skewed predominantly by generation companies, namely TAURON Wydobycie, TAURON Wytwarzanie, TAURON Dystrybucja and TAURON Ciepło. In companies whose nature of business involves more office work, such as TAURON Polska Energia, TAURON Obsługa Klienta and TAURON Sprzedaż, the proportions of employed women and men are actually opposite or at least on a par.

 

Good practice: shortening the work time of pregnant women

This initiative was implemented in 2015 in TAURON Polska Energia. Its purpose is to enable pregnant employees to work shorter hours: 6 hours per day while retaining the right to full-time remuneration. The introduction of this provision to the Work Bylaws for Employees of TAURON Polska Energia was very well received. An unexpected result of the shortened work time was a decrease in the number of sick leaves requested by pregnant women.

Returns to work after parental leaves

[G4-LA3]

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 2016 Total Women Men
Number of employees entitled to parental leave 1 321 291 1 030
Number of employees who went on parental leave 815 265 550
Number of employees who returned to work after the end of their parental leave 655 122 533
Number of employees who returned to work after the end of their leave and remained in employment for 12 months after the return 697 127 570
Number of employees who returned to work after the end of their parental leave in the previous reporting year 713 143 570
Percentage of returns to work 80% 46% 97%
Retention ratio after parental leave
98% 89% 100%

WE ENGAGE EMPLOYEES IN THE GROUP’S DEVELOPMENT

Thanks to its every-day operation and commitment of its staff, the TAURON Group keeps building its value and strengthening its competitive position. Being fully aware of this dependence, it is a matter of priority for us to care for the continuous development and safety of our workers, proper internal communication and improving our employees satisfaction with work.

Our staff are a source of excellent ideas because they are the ones who know the organization best and understand what needs to be improved. With this in mind, the TAURON Group launched a number of various initiatives in 2016 involving employees in corporate life

– from suggesting savings projects (TAURON PRO thrifty) or improving safety (Safe at work contest), to contests for the titles of TAURON’s internal publications, to supporting employees in the pursuit of their passions, which resulted, for instance, in the creation of a Bikers Zone and a Runners Zone in the intranet.

All these initiatives were received with great interest and warm welcome by the staff. An important step towards using their knowledge and experience was the creation of an Innovation Zone which permits workers to suggest their ideas that optimize their everyday work. The Zone is a kind of a knowledge database accessible to all employees of the Group.

Good practices: initiatives involving employees in corporate life

Good Practice - TAURON PRO thrifty contest

The purpose of this initiative was to select the best ideas aimed at generating savings, both at Group level and at member company level. The contest was a promotion of team work: teams of 2-4 persons were invited to submit their proposals. The winning team was selected by a jury composed of representatives of the Management Board, specialists in various fields and representatives of the social party. The winners received financial prizes and were offered the opportunity to participate in the implementation of their submitted proposals.

Good Practice - Safe at Work contest

The purpose of this contest was to collect ideas for activities enhancing work safety, comfort and health in the TAURON Group. Proposals were accepted from individual participants or teams. In addition to a jury, they were also evaluated by workers. The idea with the largest number of votes was granted the “Audience Award”. Besides financial prizes, the authors of the best ideas are taking an active part in the implementation of their initiatives.

Good Practice - PRO RIO 2016 crossword

The participants were expected to solve a sports crossword and then, as they pleased, expand the sentence: “My Olympic memory…”. The contest was supported by the Polish Olympic Committee RIO 2016 site in the Tauronet (TAURON was a sponsor of the Polish Olympic Team). The prizes included an invitation for two to an Olympic Gala in Warsaw and Olympic gimmicks.

Good Practice - TAURON Cycling Enthusiasts

A page has been created in the Tauronet for cycling enthusiasts. As part of the contest, employees were invited to send their cycling photos grouped into the following three categories: “Sport”, “Recreation” and “Getting to Work”. The winners were selected by employee votes (the number of likes). Prizes included Tour de Pologne gimmicks and cycling equipment.

Good Practice - Contest for the title of a TAURON Group magazine

Employees suggested a name for the new magazines to be distributed to all Group companies. A record number of employees took part in the contest: over 230 suggestions were submitted! Two first prizes were given to the people who suggested their titles: “PROspekt” and “Puls TAURONA”.

WE PROMOTE SAFETY RULES IN THE WORKPLACE

[EU-DMA] Due to its multi-faceted business , the TAURON Group does not have a single document in place for all its member companies that would contain a universal set of rules governing occupational health and safety issues. Each company has adopted its own regulations in this area, in compliance with generally applicable laws. Furthermore, within the distinct Group companies themselves, occupational health and safety regulations are customized to the nature of specific jobs.

In companies involved in mining and generation, namely TAURON Wydobycie, TAURON Wytwarzanie, TAURON Ciepło, KW “Czatkowice” and TAURON Ekoenergia, issues related to the protection of employee health and life are a subject of special interest. This is reflected by our extensive safety systems and the supervision exercised over working conditions and compliance with occupational health and safety regulations applicable to specific jobs. Among the most significant documents governing occupational health and safety issues are the following: Integrated Occupational Health and Safety Management System in TAURON Wydobycie, Occupational Health and Safety Management Procedures in TAURON Ciepło and Quality, Environmental Protection and Occupational Safety Policy in TAURON Wytwarzanie. The staff of these companies participate in a training cycle (general training, on-the-job training and periodic training) specific to their professional group.

A significant element in promoting occupational health and safety principles involves the raising of employee awareness, predominantly via training, conducted in the form of meetings and workshops and in interactive form (on an e-learning platform). Because the best promoters of safe behavior in the workplace are workers themselves, the companies hold internal training programs, awareness campaigns and occupational health and safety contests with prizes.

In 2016, a total of 199 accidents occurred in the Group companies. This was 16 more than in the previous year. Among them, were two accidental deaths: both in the mines of TAURON Wydobycie. Due to the increase in the number of accidents, activities aimed at promoting safe behaviors at work have been intensified. Each company conducts a range of informational and educational campaigns. The Safe at Work  contest has also been launched.

Employee injury rate (IR) (measuring the frequency of accidents) broken down by gender

[G4-LA6]

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Total number of all accidents 199 Women 16
Men 183
Number of accidental deaths at work 2 Women 0
Men 2
Number of minor accidents at work 192 Women 16
Men 176
Number of severe accidents at work 3 Women 0
Men 3
Number of group accidents at work 2 Women 0
Men 2
Injury rate

Injury rate = (Number of accidents at work x 1,000) / Average headcount in 2016

7.7 Women 0.6
Men 7.1
Injury severity rate

Injury severity rate = Total number of incapacity-to-work days of staff injured in accidents at work / Number of staff injured in accidents at work (excluding accidental deaths)

51.3 Women 28.9
Men 53.3

Good practice: Good morning with OHS

This initiative is aimed at increasing employee awareness and involvement in occupational health and safety issues and at increasing the involvement of supervisory personnel in creating safe working conditions. The objective of the Good morning with OHS project is to devote at least one minute per day to safety at work issues. The project involves a daily focus/reminder of proper behaviors during the performance of work by employees. At the end of each day, a member of the OHS team submits to the superior an issue/phrase concerning work safety for the following day. This issue/phrase is then forwarded by the superior to the staff during their first meeting on a given business day, that is during the “good morning” meeting. This practice is aimed at reducing to a minimum the risk of accidents by raising a proper work safety culture among the staff.

Occupational health and safety regulations in the TAURON Group’s establishments. External contractors and subcontractors performing outsourced work in the Group’s companies are required to comply with applicable procedures, including those pertaining to occupational health and safety. Staff of external entities (contractors and subcontractors) are also required to be in possession of up-to-date medical certificates and appropriate qualifications and licenses to perform their work. Some TAURON Group companies (especially those with particularly dangerous working conditions) have introduced additional requirements and training for external contractors and subcontractors.

Percentage of employees, contractors and subcontractors who have completed additional occupational health and safety training

[G4-EU18]

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2016 Kopalnia Wapienia „Czatkowice” TAURON Ciepło TAURON Wydobycie TAURON Wytwarzanie TAURON Dystrybucja Pomiary TAURON
Serwis
Percentage of staff employed by contractors and subcontractors who have completed additional occupational health and safety training (e.g. related to construction, operation or maintenance) 0% 0% 100% 14% 0% 41%

The table presents the percentages of trained staff of external entities. The other Group companies (not included in the table) do not keep a record of such trained staff.

WE EDUCATE AND DEVELOP ALL EMPLOYEES

[LA-DMA] Employee development  is an extremely significant part of creating the value of any organization. The participation of employees in training benefits both the workers and their employers, because properly qualified staff is a resource for the enterprise that is certain to bear fruit in the future. Moreover, training courses reduce staff turnover. The improvement of qualifications by employees also enables them to achieve a desired level of safety and performance.

Familiarizing workers with new technologies and changing regulations translates into the development of the organization, while mastering specialized and leadership skills translates into a greater motivation and efficiency at work. This is the reason why it is so important to train personnel at all levels of the organizational structure.

To find out more about the TAURON Group’s training policy, please click HERE.

 

 

White certificates white certificates "White" certificates "white" certificates Certificates confirming the saving of a specific quantum of energy as a result of completing investments to enhance energy efficiency.
Biomass biomass Denotes a biodegradable fraction of products, waste and residue from agricultural and forestry production and related branches of industry, including fishing and aquaculture, and biogas and a biodegradable fraction of industrial and communal waste.
Sub peak power generation units sub peak power generation units Power generation units used during a period when the power system has a higher demand for capacity. Power generation units in this class are used from 2000 to 4000 hours a year.
Peak power generation units peak power generation units Power generation units used only during a period when the power system has the highest demand for capacity. Power generation units in this class are used fewer than 2000 hours a year.
Blue certificates blue certificates "Blue" certificates "blue" certificates Certificates confirming the generation of energy from agricultural biomass.
CAPEX Capital expenditures.
Red certificates red certificates "Red" certificates "red" certificates Certificates confirming the generation of energy in highly-efficient coal co-generation.
Net debt net debt Liabilities for loans and borrowings less cash and cash equivalents.
Dividend dividend Portion of a company’s net earnings per share designated for payment to shareholders.
EBITDA Earnings Before Interest, Taxes, Depreciation and Amortization.
Electromobility electromobility Using electric vehicles, both individual vehicles such as an electric car, electric scooter, electric motorcycle and electric bicycle and public transport means: trams, trolleybuses and trains. The assumptions for the Electromobility Development Plan and the domestic framework for the policy of alternative fuel infrastructure development call for there being one million electric vehicles on Polish roads by 2025. TAURON is conducting research and analyses on developing, promoting and disseminating electromobility among Polish nationals, developing the electromobility industry in Poland and in particular collaborating in launching and implementing the findings of scientific and technical work in this area. Moreover, jointly with PGE, Energa and Enea, TAURON has submitted an application to the Office of Competition and Consumer Protection to receive a permit to establish a company called ElectroMobilityPoland to create grounds for developing electromobility.
EMAS EMAS Eco Management and Audit Scheme, an EU instrument to encourage all types of organizations to improve their environmental protection constantly. Functions on the basis of Regulation (EU) no. 1221/2009 of the European Parliament and of the Council of 25 November 2009 on the voluntary participation by organizations in a Community eco-management and audit scheme (EMAS). The EMAS requirements constitute guidelines for organizations to structure their environmental protection duties, optimize costs and effectively manage energy and resources. EMAS is also a system for reporting an organization’s environmental impact making it easier to conduct dialogue in this area with stakeholders. Registration in the EMAS system means that an organization has satisfied the most rigorous environmental requirements.
Prosumer energy prosumer energy Generation of electricity, chiefly for one’s own needs and on a small-scale in installations harnessing renewable energy sources. Households and businesses that do this are called prosumers, meaning that they simultaneously play the role of energy producer and consumer.
Energy from distributed sources energy from distributed sources energii ze źródeł rozproszonych energetyka rozproszona rozproszone wytwarzanie generacja rozproszona energetyki rozproszonej generacji rozproszonej distributed energy Generation of energy by small generation units or facilities connected directly to distribution grids or located in the user’s electrical energy grid that usually generate electricity from renewable energy sources or non-conventional sources, frequently in cogeneration with the generation of thermal energy (distributed cogeneration). The following parties, for instance, may be part of a distributed generation grid: prosumers, energy cooperatives and municipal power plants.
Purple certificates purple certificates "Purple" certificates "purple" certificates Certificates confirming the generation of energy from methane captured in mines.
grid parity Grid parity Signifies the equivalence of the production costs of renewable energy with the energy generated in conventional power plants.
TGE’s FCM Indices Towarowa Giełda Energii (TGE) is the power exchange running the following markets: electricity (Forward Commodity Market - FCM), Day-Ahead Market - DAM, Intraday Market - IDM) and gas (FCMg, DAMg) and the Property Right Market.
smart metering Smart metering Comprehensive and integrated information system encompassing electrical energy smart meters for users of energy, telecommunication infrastructure, central database and management system. Smart metering systems support two-way communication in real time between information systems and electronic electricity meters installed in customers’ locations. Moreover, they may automate the entire billing process for energy users - from obtaining metering data to processing and aggregating them to issuing invoices.
Stakeholder stakeholder stakeholders Natural or legal entity (individual, community, institution, organization, office etc.) which may affect the company or remain under the influence of its actions.
IoT Internet of Things – concept according to which clearly identified objects may directly or indirectly collect, process or exchange data via computer network.
Emergency Cold Reserve IRZ Mechanism introduced by the transmission system operator in 2016. It involves the TSO paying the owners of generation sources which are planned to be withdrawn for keeping them ready to run in response to the operator’s instruction during the anticipated periods of capacity shortage.
ISO 14001 PN-EN ISO 14001:2005 standard PN-EN 14001 standard One of the ISO standards used in managing environmental protection. This standard designated for all organizations regardless of their type and size defines the requirements whose satisfaction supports the achievement of environmental (for instance preventing the emission of pollutants) and economic objectives.
Covenant covenant Contractual clause, order or ban imposed on a borrower to minimize the risk of its invsolvency. Covenents most frequently constitute protection for sources of debt payment to creditors, e.g. by banning further borrowing or disposing of assets.
Aggregate aggregate Bulk organic or mineral material used mainly to produce construction mortar and concrete and build roads.
HV and MV Lines linii WN i SN sieci WN i SN HV - high voltage grid in which the voltage ranges from 110 kV. This grid is used to transmit electrical energy over large distances. MV - medium voltage grid, i.e. an electrical energy grid in which the electrical voltage ranges from 1 kV to 110 kV. Medium voltage is broadly used in electrical energy grids to transmit electrical energy over medium distances and switch energy. It is used as an intermediate voltage between high voltage and low voltage connected to end-users.
Customer loyalization customer loyalization Strategy to acquire and retain customers in this time of growing competition.
Micro-grid micro-grid Electrical energy micro-grid – set of generation equipment, electrical energy storage and receiver units connected in a joint network to ensure the reliable supply of electrical energy and minimize its cost.
Micro-cogeneration micro-cogeneration Technological process involving the cogeneration of thermal and electrical energy based on the utilization of small-scale equipment and medium capacities. Micro-cogeneration may be employed in all facilities in which there is a concurrent need for electrical and thermal energy. The greatest benefits from employing micro-generation are obtained in facilities in which the demand for these two types of energy does not oscillate much or is constant. That is why individual users, hospitals and educational centers, sports centers, hotels and public utilities are usually the most frequent users of cogeneration systems.
MSCI Emerging Markets Europe 10/40 Index Index comprising key companies listed on emerging markets in Europe.
MSCI Poland Index Index comprising more than 20 key companies listed on the Warsaw Stock Exchange.
Best Available Technology BAT The most efficient and sophisticated level of technology development and methods for conducting a given business. BAT are defined for various branches of industry. In the energy sector BAT forms the basis for determining borderline emission quantities, among others, to eliminate, or if that is not practicable, limit emissions and their overall environmental impact.
Sensitive user sensitive user According to the Act entitled Energy Law, a sensitive user is a person to whom a housing allowance has been awarded and who is a party to a comprehensive agreement or electricity sale agreement and who lives in the place where electrical energy is supplied.
Impairment losses impairment losses Losses because of the impairment of non-current assets taken in accordance with the regulations of international accounting IFRS (MSSF) standard.
Corporate Social Responsibility CSR Corporate Social Responsibility – business philosophy and management strategy calling for an organization to take responsibility for the impact exerted by its decisions and actions on society and the environment. Its foundations are rooted in ethical and transparent conduct, taking into consideration the expectations of stakeholders and cultivating good long-term relations with the overall environment. Corporate social responsibility is one of the key methods of achieving sustainable socio-economic development.
PV cells Photovoltaic cell (PV) – semi-conductor material in which the energy of solar radiation is converted into electrical energy.
omni-channel Omni-channel According to the omni-channel idea, the future of commerce is to conduct online sales while simultaneously encouraging customers to make traditional purchases. Online and offline sales during the digital revolution should fluidly penetrate one another.
Operating Capacity Reserve ORM Mechanism of providing operational reserves by the Centrally Discharged Units (JWCD), where they were able to deliver electricity to the system, but for market reasons were not used. It was implemented in Poland in 2014.
RES Renewable energy sources.
PM-RES Property rights to certificates of energy for electrical energy generated in RES.
Polygeneration polygeneration Parallel generation of energy and chemicals.
RESPECT Index Index consisting of companies listed on the Warsaw Stock Exchange to identify companies managed in a responsible and sustainable manner. It takes into account the quality of reporting, the level of investor relations, corporate governance and liquidity, among others, whereby it simultaneously constitutes a real point of reference to measure the attractiveness of companies as investments.
Balancing market balancing market The balancing market is what is referred to as a technical market. That means it is not a place to sell energy. Its purpose is the physical delivery of the energy purchase/sale agreements executed by participants and balancing the demand for electricity with its generation in real time in the national electrical energy system (KSE). The existence of the balancing market is indispensable for the energy market to function. Entities that buy energy have an obligation to participate in this market.
CATALYST Market Catalyst market Bond market. It is run on the transaction platforms of the Warsaw Stock Exchange and BondSpot.
SAIDI System average interruption duration index in the supply of electricity calculated in minutes per user. It is a reliability index whose value is the sum of the products of interruption duration in energy supply and the number of users affected by the consequences of such an interruption during a year divided by the total number of users connected to a grid.
SAIFI System average interruption frequency index of long interruptions in energy supply. It is a reliability index whose value is the number of users affected by the consequences of all such interruptions during a year divided by the total number of users.
Gangue gangue The rock that is extracted from a deposit of a given mineral that is considered to be unusable waste.
Smart City smart city Smart city is a project involving the implementation of specific solutions exerting a real impact on citizens. One example is supplying tools to urban residents to monitor energy consumption, among others. This is possible thanks to the special platform called eLicznik (eMeter). TAURON supplies smart meters, for instance, under the Smart City Wrocław project.
Smart Home smart home System to control a smart home. SMART HOME technologies control burglar alarms, temperature control and electricity supply systems. This is a real-time power consumption monitoring solution that TAURON offers via a platform to check readings from the smart power meter.
Smart grid smart grid Smart electrical energy grids to facilitate communication between participants on the energy market to supply energy services while cutting costs and enhancing efficiency and integrating distributed sources of energy, including renewable energy.
smart metering Smart metering Smart metering system – electronic system used to measure energy consumption obtaining more information than from a conventional meter, and to send and receive data through electronic communication.
small carbonate sorbent Small carbonate sorbent Fine carbonate sorbent (limestone powder) – is a product derived from the process of dehydrating and profound milling of limestone whose active ingredient is calcium carbonate, CaCO3. Fine carbonate sorbent is used in processes to desulfurize flue gas – to remove SOx.
Enterprise Risk Management System ERM Set of rules, standards and tools to accomplish the fundamental objective of risk management i.e. ensuring the security of the TAURON Group’s operations. This system is regulated by the document entitled Enterprise Risk Management System in the TAURON Group, defining the TAURON Group’s enterprise risk management framework and rules.
Tauronet tauronet TAURON Group’s corporate intranet portal, one of the most important tools of communicating with employees. One of the largest platforms of its type in Poland at the time of publishing this report.
CCS Carbon dioxide capture, transport and geological storage technology.
CCU Capture and use (management) of carbon dioxide, eg. in the the chemical industry.
Smart Technology smart technology Control system in a smart home, among others - it is responsible for the safety and living comfort of residents.
Towarowa Giełda Energii S.A. Polish Power Exchange TGE Towarowa Giełda Energii (TGE) (Polish Power Exchange) is the only licensed power exchange in Poland. Presently, TGE runs the following markets: Day-Ahead Market (DAM), Commodity Forward Market with physical delivery (CFM), Property Rights Market for RES and Cogeneration. TGE also keeps a register of the Certificates of Origin for electrical energy produced in RES and in highly efficient cogeneration sources and the CO2 Emission Allowance Market.
Energy Regulatory Office ERO Government authority regulating the Polish energy market (electricity and gas, among others).
Coal winnings coal winnings The rock material taken from the mine face. It includes the mineral and gangue.
WACC Financial ratio - weighted average cost of capital.
WIBOR Warsaw Inter Bank Offered Rate Warsaw Inter Bank Offered Rate - interest rate used on the Polish interbank market for interbank loans.
WIG Index comprising all the companies listed on the Main Market of the Warsaw Stock Exchange that fulfill the basic criteria for inclusion in its indices.
WIG20 Index comprising the 20 largest and most liquid companies listed on the Main Market of the Warsaw Stock Exchange.
WIG30 Index comprising the 30 largest and most liquid companies listed on the Main Market of the Warsaw Stock Exchange.
WIG-Energy Sectoral index comprising companies participating in the WIG index and simultaneously classified in the energy generation sector.
WIG-Poland National index comprising only the domestic companies listed on the Main Market of the Warsaw Stock Exchange that fulfill the basic criteria for inclusion in its indices.
Underground mining pit underground mining pit Space created as a result of mining works.
Highly-efficient cogeneration high-efficiency cogeneration Generating electrical or mechanical energy and usable thermal energy in cogeneration to save the original energy used in the cogeneration unit in an amount no lower than 10% compared to the generation of electrical energy and thermal energy in separate systems or in a cogeneration unit with an installed electricity capacity under 1 MW compared to the generation of electrical energy and thermal energy in separate systems.
Green certificates green certificates "Green" certificates "green" certificates Certificates of origin, i.e. a document that confirms the generation of electricity with renewable energy sources. The green certificate system has been in force in Poland since 1 October 2005 (and has changed in the new RES Act).
Yellow certificates yellow certificates "Yellow" certificates "yellow" certificates Certificate certifying the origin of energy. Operators of cogeneration units fired with gaseous fuels or with a total installed power source of less than 1 MW may be compensated with yellow certificates.
TPA Third Party Access - TPA is one of the most important principles (besides unbundling) on which the deregulated energy market is founded. TPA gives an energy user the right to buy it from any energy seller of its choosing.
EUA CO2 emission unit.
IFRS International Financial Reporting Standards – standards and their interpretations approved by the International Accounting Standards Board (IASB).
RFX Request for proposal.
Global Reporting Index GRI Independent international organization whose mission is to create a joint global framework for communicating responsibility and sustainable development. The GRI guidelines are an international reporting standard for organizations regardless of size, business sector and venue. Their application gives a guarantee of consistency in terminology and indicators.
International Integrated Reporting Council IIRC The International Integrated Reporting Council is an organization whose purpose is to create globally accepted integrated reporting guidelines based on combining financial, environmental, social and corporate governance reporting in a clear, succinct, coherent and comparable format. It consists of global leaders such as the International Federation of Accountants (IFAC), the International Accounting Standards Board, the United Nations Environmental Program (UNEP), the International Organization of Securities Commissions, the World Business Council for Sustainable Development and the Global Reporting Initiative (GRI).
integrated reporting non-financial reporting standard International integrated reporting standard encompassing financial and non-financial data devised by IIRC.

GRI indicators