scholarly journals Strategies of European Energy Producers. Directions of Evolution

Energies ◽  
2022 ◽  
Vol 15 (2) ◽  
pp. 609
Author(s):  
Jerzy Niemczyk ◽  
Aleksandra Sus ◽  
Edyta Bielińska-Dusza ◽  
Rafał Trzaska ◽  
Michał Organa

The article presents an innovative method of analyzing energy companies’ strategies, which aims to identify the strategic orientation of the entities subject to the research and, thus, to initially define the directions of strategic changes in the analyzed sector. The aim of the research, the results of which were used in this publication, was to identify the features of energy sector companies’ strategies in the European Union in the period of sector transformation caused by the new climate policy. The analysis area is the energy sector, i.e., the sector whose fundamental strategic goal is energy production. The research used a critical analysis of the subject literature and desk research method with the use of the researchers’ own analytical equipment, developed for the needs of this analysis. It was assumed in the conducted research that the primary source of information in the empirical study, the information subject to subsequent analysis, was the analysis of official documents (strategies, financial reports, etc.) posted on the websites of the surveyed corporations. The research results indicate the dominance of the resource-based approach in implementing strategic postulates of the surveyed companies. Nevertheless, the operational activity focuses on the implementation of innovative solutions towards decarbonization and climate neutrality.

2020 ◽  
Vol 1 (10) ◽  
pp. 69-75
Author(s):  
I. V. BRATKO ◽  

In modern realities, the number of fuel and energy companies managed on corporate principles is increasing every year. Accordingly, we are talking about the transition of state command management of the fuel and energy sector to private, competition-based and corporate governance. The study proposed a system of "balanced key performance indicators procurement", aimed at optimization of performance to meet the principles of the classic system of Kaplan-Norton and focused on the strategic orientation reflects the characteristics of the processes of production and consumption of services of energy companies. It is concluded that in a balanced system, it is necessary to distinguish between indicators that measure the results achieved and indicators that reflect the processes that contribute to the achievement of these results.


Energies ◽  
2020 ◽  
Vol 13 (11) ◽  
pp. 2926 ◽  
Author(s):  
Grzegorz Zimon ◽  
Marek Sobolewski ◽  
Grzegorz Lew

European countries are increasingly using renewable energy. Poland is an outsider of such solutions. The Polish energy sector is primarily based on energy produced from coal. However, environmental changes and regulations of the European Union are forcing the increased use of energy from renewable sources. Renewable energy is an industry that is still developing in Poland. At the same time, Poland is a country where the political decisions of the government over the last few years have resulted in a significant limitation of the possibilities of renewable energy development. These actions have also resulted in lowering the profitability of the currently operating renewable energy enterprises, especially those from the sector of small and medium-sized enterprises. An opportunity for SMEs operating in the renewable energy sector is to merge into industry purchasing groups. The aim of the article—and at the same time the research question—is: Is it financially safer for renewable energy companies to operate within purchasing groups compared to companies operating independently in this industry? Traditional ways of purchasing can be transferred to integrated purchasing systems, which will be created by purchasing groups associating renewable energy companies. For this purpose, the financial effects of the implementation and functioning of the purchasing groups in the renewable energy sector in relation to entities operating independently were examined. In the research of renewable energy SMEs, a comparative analysis of key indicators determining the possibility of continuing the activity of these entities was made. The following indicators were examined: current financial liquidity ratio, return on sales, operating cycle, cash conversion cycle, share of receivables in current assets, share of inventory in current assets, turnover ratios, level of receivables, liabilities and profitability. The scientific literature is dominated by studies on purchasing groups in the pharmaceutical and construction industries. Thanks to the research conducted, it has been indicated that the renewable energy industry can also improve its profitability, and thus the possibility of safe continuation of operations by extending the business model to inter-entity cooperation within purchasing groups. Increasing the efficiency of individual entities of the renewable energy industry within purchasing groups becomes particularly important during the COVID-19 pandemic. Statistical analyses and their graphic presentation present the significant impact on the safety and profitability of renewable energy entities in the form of purchasing groups.


2020 ◽  
Vol 3 (1) ◽  
pp. 394-406
Author(s):  
Aleksandra Sulik-Górecka

AbstractConventional energy sources dominate in the Polish energy sector, which is a huge risk to meeting environmental protection requirements. Polish energy companies are facing challenges related to meeting the requirements of the European Union and the National Energy Policy. The paper attempts to answer the question whether the ongoing discussion on the future of the energy sector, dealing with such issues as development of renewable energy sources is reflected in the annual financial reports of companies listed on the Warsaw Stock Exchange and covered by the WIG_ENERGY index. This study contributes to the extant literature on financial disclosures in several ways. First, the examination of compliance of segment reporting of selected companies listed on the Polish stock exchange with International Reporting Standards (IFRS) was carried out (particularly IFRS 8 – Operating Segments). Second, the information value of disclosures for investors in the energy industry was assessed. The empirical part was preceded by a description of segment reporting principles in accordance with IFRS 8 and the summary of challenges facing the energy sector in Poland.


Energies ◽  
2021 ◽  
Vol 14 (16) ◽  
pp. 5107
Author(s):  
Jarosław Gryz ◽  
Barbara Kaczmarczyk

(1) Introduction: The European Union is a global leader in the transition to a low-carbon economy. The community’s population has already reduced greenhouse gas emissions by 22%, while the gross domestic product (GDP) in its member states increased by 58% between 1990 and 2017. The Union has shown that economic growth is possible in the link between politics, nature, and the citizens’ eco-empathy. It has implications for both the European and global economy, infrastructure, food production, public health, and biodiversity, the formula for political stability. The hallmark of the European Union is the blending of politics, culture, and nature in its quest for climate neutrality. The community’s horizon is a zero-emission economy by 2050. (2) Theoretical framework: The cognitive assumptions of the article are the following theses: 1. The Union strives to accelerate the transition process to a regenerative growth model using technologies for obtaining and distributing energy for individual and collective needs; 2. The Union and the European citizens want to hand over more to planet Earth than they take away from it, thus making progress toward keeping resource consumption within planetary limits. 3. The Union aims to reduce its consumption footprint and double the rate of applying closed-loop materials in the next decade. Finally, it fits in with the organization’s policy projections. (3) Methodology and research results: Qualitative and quantitative research methods were used in the research process. The literature has been analyzed on the subject and the applicable legal acts, making it possible to classify, generalize, describe, and systematize the facts collected during the research. A survey was conducted on 1106 students, and in-depth interviews were conducted with three energy experts: Krzysztof Tomaszewski (the University of Warsaw, researcher and lecturer on energy security issues), Dariusz Pachniewski (inventor in energy sector, businessman in hydrogen energy sector), and Tomoho Umeda (President of Polish Chamber of Commerce). The research aimed to identify the environmental and energy awareness, knowledge of renewable energy sources, and opinions of young Poles on their use in two areas: home and work. (4) Discussion: The reinforced narrative of creating a low-carbon society, a green economy, was adapted and evaluated for innovative individual and collective approaches in the research conducted in this paper. In the quantitative and qualitative samples, the assumptions made were double-checked. The former verified the students’ views, while the latter, the experts’ views. The procedure established the directions of knowledge evolution and approach to technologies and innovations among students of technical faculties related to the energy sector. There were existing individual and collective mental constructs on energy transition and climate neutrality identified. (5) Conclusions: The surveys conducted among university students of energy-related majors and specialties and experts revealed important information. First, it concerned the way knowledge is communicated and how it is interpreted; second, informing and implementing the European Union’s climate policy; third, the creation of a low-carbon society; fourth, the perception of climate neutrality among young Poles, and finally, preferences in energy generation and use in homes and businesses.


Energies ◽  
2021 ◽  
Vol 14 (23) ◽  
pp. 8173
Author(s):  
Joanna Kizielewicz ◽  
Katarzyna Skrzeszewska

Cruise ships are unfortunately at the infamous forefront of the means of maritime transport emitting the largest amounts of harmful substances into the atmosphere and aquatic environment. At the initiative of IMO and the European Union, formal restrictions were introduced regarding the level of harmful emissions on the high seas and in ports generated by seagoing vessels. To meet these challenges, shipowners have invested in various technological solutions on their ships to reduce the number of harmful emissions, and by ordering new vessels; they promote the use of pro-ecological solutions related to energy saving and eliminate environmental harm. However, despite the actions taken by shipowners, seaports unfortunately lag behind the challenges and expectations of the market and are still not prepared, for example, to power the ships moored in ports with shore-side energy to reduce the environmental pollution when the ships are at berth. The aim of this paper is to identify actions taken by seaport authorities to prepare electricity infrastructure in seaports to power vessels with energy from the land. Key legal restrictions concerning reduction in pollutions emitted from ships in the ports are also described and analyzed. The results of the study also show the approach of seaports to the issue of Onshore Energy Supply for cruise ships. The research was conducted among the selected ports in the Baltic Sea Region where cruise ships are accepted. The following research questions were formulated: (1) What legal regulations oblige seaports and shipowners to reduce the level of pollutions emitted into the environment? (2) Do the ports use a benchmark to assess the level of harmful emissions when defining the amount of port fees for cruise shipowners? (3) How are cruise ships powered in the port? (4) What investments are planned in the port regarding the infrastructure related to the diversification of shore-side electricity for the ships? The studies were conducted by using a few research methods, i.e., the desk research method, the exploration method, and the CAWI Computer Assisted Web Interview. The results of this research can provide an interesting source of information both for cruise ship owners and cruise seaport authorities, but also potentially for shipyards where new vessels are constructed.


1994 ◽  
Vol 5 (4) ◽  
pp. 305-326 ◽  
Author(s):  
Ute Collier

Liberalisation in the energy sector continues as a dominant theme in the European Union in the 1990s but little attention is being given to its potential environmental implications. However, issues of regulation, structure, ownership and scale of operation are crucial determinants in the environmental performance of the energy sector. This paper examines the situation in Germany where, as both federal energy policy measures and activities of the large energy companies have given limited attention to environmental matters, an increasing number of local councils and municipally owned energy companies have been adopting so-called local energy concepts with environmental concerns as a main driving force. It is shown that while countries like the UK struggle to induce their privatised energy companies into environmental activities, local public companies in Germany are at the forefront of implementing more environmentally benign energy systems. It is argued that, at a time when many decision-makers are preoccupied with promoting greater competition and private ownership, the benefits of local public ownership and decentralised planning in at lease part of the energy sector may be overlooked. If the political priorities at the local level are skewed in favour of the environment, local, integrated energy plans, implemented by public utilities, can reap substantial environmental benefits.


2020 ◽  
Vol 131 ◽  
pp. 87-98
Author(s):  
Andrzej Kochan

This paper presents the concept of a digital twin for the ETCS application. The ERTMS system is a technical solution aimed at ensuring interoperability of the railway system in the field of signalling within the European Union. It is also an important factor in the digitisation and automation of railways. Due to its complexity, it needs solutions to support its activities in all phases of the life cycle, in particular design, implementation, maintenance and operation. A digital twin is a virtual representation of a real system. According to many definitions, this mapping should be as close to identical as possible. Such a mapping should, by definition, accompany the real system throughout its lifetime, providing a consistent description of the current state and history of its operation. This mapping should be the primary source of information about the real system for all stakeholders interested in its operation. This paper presents the basic assumptions of the Digital Twin of the ETCS application in terms of its structure and its application to the verification of its correctness.


2021 ◽  
Vol 13 (4) ◽  
pp. 2241
Author(s):  
Moritz Ehrtmann ◽  
Lars Holstenkamp ◽  
Timon Becker

Community energy actors play an important role in the energy transition, fostering the diffusion of sustainable innovation in the renewable energy market. Because market conditions for business models in the renewable energy sector are changing and feed-in-tariff (FiT) schemes expiring, community energy companies are in the process of innovating their business models. In recent years, several community energy companies in Germany have entered the electricity retail market selling locally generated electricity from their renewable energy installations to customers in their region. We explore the evolving regional electricity business models for community energy companies in Germany, related governance structures, and the role they play for a sustainable energy transition. In order to implement these complex business models, community energy companies cooperate with professional marketing partners (intermediaries), which are capable of taking over the tasks and obligations of electricity suppliers. Through a series of expert interviews and desk research, we identify three distinctive regional electricity business models and examine opportunities and challenges to their implementation. Results show that there are different forms of cooperation, leading to specific governance structures and creating a set of new value propositions. Through these forms of cooperation, business networks emerge, which can function as incubators for sustainable innovation and learning for the post-FiT era.


Energies ◽  
2021 ◽  
Vol 14 (5) ◽  
pp. 1253
Author(s):  
Maja Piesiewicz ◽  
Marlena Ciechan-Kujawa ◽  
Paweł Kufel

Integrated reports combine financial and non-financial data into a comprehensive report outlining the company’s value creation process. Our objective is to find the completeness of disclosures, which is a crucial aspect of an integrated report’s quality. This study contributes to the integrated reporting examination by identifying quantitative and qualitative gaps when applying Integrated Reporting standards, focusing on the energy sector. We conducted the study on 57 published integrated reports of listed companies in Poland. The content of each report was examined for 49 features divided into eight areas. We identify the strengths and weaknesses of current reporting performance and the impact of the company’s sector on reports’ quality. We noted that there are significant differences among the areas. The major problems concern implementing IIRC’s framework on the connections between the business model and the organization’s strategy, risks, opportunities, and performance. Our research also noted that the level of specific disclosures might be related to a company’s ownership structure. We investigated the significance of differences among companies from the energy and non-energy sectors using statistical methods. As a result of the study, we obtained that disclosures’ completeness depends on the operation sector. The companies in the energy sector publish higher-quality integrated reports than companies in the other sectors.


Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3815
Author(s):  
Magdalena M. Stuss ◽  
Zbigniew J. Makieła ◽  
Agnieszka Herdan ◽  
Gabriela Kuźniarska

If corporate social responsibility (CSR) is expected to work efficiently, there should be a standardised approach for implementation of the CSR concept for all businesses, including companies operating in the energy sector. Although many companies declare compliance with CSR standards, further investigation should be undertaken to evaluate if and how those standards have been applied in practice. The aim of this research is to examine the level of standardisation of the CSR activities within Polish energy companies and explore the good practices developed by those companies. The Polish energy companies have been selected for the investigation as the literature review we conducted demonstrates that there is limited research in this area and there is a knowledge gap regarding how Polish energy companies apply CSR regulation in practice. To accomplish the stated aims, the following research questions were developed: (1) What is the essence of applying the CSR concept in Polish energy companies, and at what level of development is the concept applied? (2) To what extent do Polish energy companies have a common approach to the CSR concept, and in what areas are there differences? (3) To what extent have Polish energy companies applied global CSR standards and solutions? (4) Is there a gap between the declared measures of CSR and their actual implementation in Polish energy companies? The research methodology of this study is based on a systematic literature review of the sources acquired from databases such as ProQuest, Emerald, SCOPUS and the Jagiellonian University Library. The multiple case study approach was identified as the most suitable research tool. Companies for the study were selected according to their affiliation to the energy sector and listing on the main market of the Warsaw Stock Exchange. These two assumptions allowed us to base this study on the largest Polish energy companies that have international status. Six areas of CSR annual report disclosures have been identified and used for the investigation and analysis. This research looks at similarities and difference between these six aspects of CSRs disclosed by Polish energy companies. The investigation allows us to conclude that the top three energy companies use similar tools to build their CSR strategies: formalised CSR concept, published CSR reports, disclosure of CSR information on the company website, CSR related activities offered to stakeholders, obtained CSR certificates, and CSR awards. This indicates the existence of a standardised approach to CSR across Polish energy companies.


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