May 1, 2018 / 12:34 PM / a year ago

Polenergia units file suit against Polish utility Tauron

WARSAW (Reuters) - Poland’s Polenergia (PEPP.WA) on Tuesday said two of its units had filed a lawsuit against state-run utility Tauron (TPE.WA) seeking 343 million zlotys (70.4 million pounds) over cancelled long-term deals.

Tauron’s PKH was buying electricity generated from wind farms operated by Polenergia units Amon and Talia as well as tradable certificates showing that the power was produced from renewables.

As prices for the certificates fell Polenergia refused to change the deal conditions, prompting Tauron to launch action to terminate the deals.

Polish utilities, which generate electricity mostly from coal, need to buy green power and the green certificates to meet renewable electricity targets.

Amon and Talia filed their lawsuit in regional court in Katowice, Polenergia said in a statement.

A Tauron spokesman said the company had not received notice of the lawsuit and thus declined to comment.

“We underline that the agreement was signed by PKH, a special purpose vehicle,” the spokesman said.

Polenergia is owned by the Kulczyk family, one of Poland’s richest.

Last year U.S. company Invenergy LLC also filed a lawsuit against Tauron over terminating long-term, fixed price contracts.

Reporting by Agnieszka Barteczko; editing by Jason Neely

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