18. Cash and cash equivalents


Cash and cash equivalents

Cash comprises cash on hand and demand deposits.

Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

Short-term deposits have different maturities, typically from one day up to one month, depending on the Group’s needs for cash.

The balance of cash and cash equivalents comprise the following positions:

(in PLNm) As at
December 31, 2022
As at
December 31, 2021
Cash on hand and cash at bank 1.429 5.059
Overnight deposits 801 5
Short-term deposits 6.147 1.124
Proceeds from share issue 2.716
Cash in VAT accounts 794 545
TOTAL 11.887 6.733
Undrawn borrowing facilities as at December 31 11.783 6.002
including overdraft facilities 3.817 1.830

A detailed description of credit agreements is presented in note 25.1.3 of these financial statements.

The value of cash includes restricted cash amounting to PLN 295 million (PLN 212 million in the comparative period) in customer accounts at PGE Dom Maklerski S.A., which constitute collateral for settlements with clearinghouse IRGiT.

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