Fuel adjustment

The remuneration rates for transport services, defined in contracts concluded by Ponetex, are calculated according to the base price of diesel oil equal to an average wholesale price for 1 m³ of diesel oil at PKN Orlen [Ekodiesel] at the temperature of 15°C in December 2010 (PKN Orlen website: http://www.orlen.pl) amounting to PLN 3,591.29.

The Ponetex’s remuneration rates shall be agreed/adjusted every month according to the provisions below.

In case of a change (increase or reduction) of the average wholesale price of diesel oil in the month proceeding the month for which the price is agreed by 5% or a multiple of 5% (i.e. 10%, 15% or 25%) in comparison to the base price, then the prices for transport services agreed in the contract shall be automatically adjusted by the fuel factor (increased or reduced) as of the first day of a given month pursuant to the Table below. The level of the fuel factor (currently: 1.75% per each 5% of change of diesel oil price in comparison to the base price) results from the share of the fuel cost in the total cost of services rendered by Ponetex and it may be subject to change in case of a change of the cost structure.

Fuel adjustment