The safe operation of coal mines requires the constant drainage of both operating and already closed mines. Several hundred thousand cubic meters of water is pumped to the surface per day with the mines located in the Upper Silesian Coal Basin. It is water with good or very good thermal parameters, which allows for its use in order to meet local energy needs. The use of mine water in mining, or post-mining areas, is becoming a modern, environmentally friendly and cost-effective way to produce economic heat. It allows for the utilization of waste heat and also avoids the unnecessary use of conventional energy sources. As the use of mine water for energy purposes is a relatively new issue and requires an individual approach to each of the cases analyzed, it is burdened with considerable risk. Therefore a simulation model, showing the risks associated with the use of mine water for energy purposes, has been presented. This risk can have a negative and what is rarely mentioned – positive nature. Furthermore, this model allows you to generate neutral factors, at the current stage of the project, which marginalized over time can become negative factors, hindering the implementation of the planned intentions. The use of this model allows the potential investor to realize the most important issues affecting the implementation of the project, also to verify whether it took the current analysis into account. It lets you specify the issues on which the investor initially does not have to pay attention, and which are fundamental for the functioning of the project. An analysis of the results generated by the simulation model helps potential investors in deciding about the validity of the implementation of the planned investments.