Risk related to prices of carbon (CO2) allowances



Risk related to prices of carbon (CO2) allowances – in 2013, Grupa LOTOS managed phase III of the EU CO2 Emissions Trading Scheme covering the 2013-2020 trading period. Given the lack of liquidity on the futures market and the instability of the underlying position in the period until 2020, the end of the risk management period for the risk related to the prices of CO2 emission allowances in phase III was set for the end of 2019. However, with the passage of time, the risk management period will be extended until 2020. For detailed information on exposure and derivative transactions open as at December 31st 2013, see the consolidated financial statements. (more information)