A defect equilibrium model for PrBaCo 2 O 5+δ is suggested based on oxygen non-stoichiometry data. The model includes reactions of oxygen exchange and charge disproportionation of Co 3+ cations. The respective equilibrium constants, enthalpies and entropies for the reactions entering the model are obtained from the fitting of the experimental data for oxygen non-stoichiometry. The enthalpies of oxidation Co 2+ →Co 3+ and Co 3+ →Co 4+ are found to be equal to 115±9kJmol –1 and 45±4kJmol –1 , respectively. The obtained equilibrium constants were used in order to calculate variations in concentration of cobalt species with non-stoichiometry, temperature and oxygen pressure.