Integrated report 2021

25.1.1 Trade and other financial receivables


Financial receivables

Financial receivables, including trade receivables, are measured at fair value at inception and subsequently at amortised cost using the effective interest rate including allowance for expected credit losses.

The Group uses simplified methods for the measurement of receivables measured at amortised cost if this does not distort the information contained in the statement of financial position, in particular if the period until repayment of the receivables is not long.

For financial receivables, the Group measures the allowance for expected credit losses at an amount equal to the expected credit losses over the life of the instrument.

The Group measures financial assets at amortised cost in accordance with its business model.

At December 31, 2021 At December 31, 2020
Non-current Current Non-current Current
Trade receivables 4.209 3.602
Deposits and loans 194 185 6
Loans granted 77
Bonds 40
Receivables from recognised compensation – Act on electricity prices  





Deposits, security and collateral 5 3,348 2 788
Damages and penalties 17 102
Other financial receivables 5 76 4 189
FINANCIAL RECEIVABLES 204 7,727 191 4,812

Deposits, deposits and collateral mainly relate to security and transaction deposits and the guarantee fund in electricity and EUA trading.

Trade receivables

The main component of trade receivables are receivables recognised by the company PGE Obrót S.A. Receivables from households account for about 22% of the consolidated balance of trade receivables, while receivables from the corporate clients of PGE Obrót S.A. represent about 47% of the consolidated balance of trade receivables. Additional information relating to trade receivables is presented in note 26.3.1 of these financial statements.

In trade receivables, the Group also presents receivables from the re-assessment of electricity sales.

Other financial receivables

The value of other financial receivables consists mainly of the guarantee fund, compensation for damages and disputed receivables described in note 28.3 of these consolidated financial statements.

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