PGE Polska Grupa Energetyczna, Poland’s largest power utility, has appointed new members to its supervisory board. The decision was made during the company’s annual general meeting, which also approved covering a net loss of nearly PLN 7 billion from reserve capital.
The annual general meeting of PGE, held on Thursday, passed resolutions to appoint new individuals to the company’s supervisory board. The move comes as the group navigates a challenging period marked by significant financial losses and ongoing transformation in the energy sector.
Earlier this month, on June 3, the supervisory board had already appointed Piotr Dziubałtowski as vice president for support and development. The latest changes further reshape the board’s composition, which is crucial for steering the company’s strategic direction.
New faces in the supervisory board
The exact names of the newly appointed members were not disclosed in the official announcement, but the reshuffle signals a shift in oversight at the state-controlled energy giant. The company’s supervisory board plays a key role in approving major investments and monitoring management performance.
PGE’s management board currently consists of five members: Dariusz Lubera as president, Katarzyna Rozenfeld as vice president for operations, Marcin Laskowski as vice president for regulation, Piotr Dziubałtowski as vice president for support and development, and Przemysław Jastrzębski as vice president for finance. The board can have between one and seven members, all serving a joint three-year term.
Financial results and loss coverage
PGE reported first-quarter 2026 revenue of PLN 17.45 billion, with recurring EBITDA reaching PLN 4.14 billion. Net profit attributable to parent company shareholders stood at PLN 1.94 billion. The group’s net debt decreased by PLN 529 million during the quarter.
Despite these positive quarterly figures, the company had to address a substantial net loss for the 2025 fiscal year, amounting to over PLN 6.95 billion. Shareholders approved covering this loss from the company’s reserve capital, a move that preserves equity but reduces financial buffers.
The decision to cover the loss from reserves rather than through a capital reduction or other measures was seen as a pragmatic step to maintain financial stability. PGE continues to invest heavily in renewable energy sources and grid modernization, which are capital-intensive projects.
The company’s stock, listed on the Warsaw Stock Exchange, traded at PLN 9.60 on June 26, 2026, down 1.82% from the previous close. Investors are watching the company’s progress in its energy transition strategy while managing legacy liabilities from coal-fired assets.
Źródło: wnp.pl, Fot. Longfin Media / Shutterstock
