Development of Renewable Energy Sources in Poland in Light of European Energy Policy

Due to the European Union, which aspires to pursue an ambitious climate policy, in Poland we have been seeing the development of the energy sector over recent years, reflected by a constantly growing share of green energy. Nevertheless, it is still not enough in relation to the requirements of European law. Europe is to become a climate neutral continent by 2050—if Poland wants to comply with these agreements, it must undergo an energy transformation.

Alternative Ways of Cooling a Passive School Building in Order to Maintain Thermal Comfort in Summer

The heatwaves that have affected our civilization in recent years pose a serious threat to the environment as well as the proper functioning of our bodies. Schools are facilities with specific microclimatic requirements. Thermal conditions in educational buildings are decisive for the stimulation and efficiency of the learning process, as well as the interaction of students. Based on the measurements of thermal comfort carried out in the school building, with the energy standard of a passive building, it can be observed that in schools with very low energy consumption, the problem of interior overheating may occur in the summer months. In this paper, an attempt was made to search for alternative passive measures allowing for the required indoor microclimate conditions to be obtained. Such solutions are in line with the spirit of the European energy policy and sustainable development. A model of the school under study was created using the Design Builder simulation program. The role of mechanical ventilation and the possibility of night ventilation in reducing discomfort were examined. Consideration was given to the justification of using expensive heat pump installations with a ground heat exchanger to reduce overheating in summer. The application of the adaptive approach to the assessment of thermal conditions and the acceptance of limited overheating periods led to the conclusion that the analyzed building could function successfully without these additional installation elements. A proprietary tool for the analysis of microclimate conditions was proposed to estimate the hours of discomfort in a way that is objective and easy to calculate.

Energy Policy and European Union Politics

Energy policy has been considered as a “special case of Europeanization,” due to its tardy and patchy development as a domain of EU activity as well as its important but highly contested external dimension. Divergent energy pathways across Member States and the sensitivity of this policy domain have militated against a unified European Energy Policy. And yet, since the mid-2000s cooperation in this policy area has picked up speed, leading to the adoption of the Energy Union, presented by the European Commission as the most ambitious energy initiative since the European Coal and Steel Community. This dynamism has attracted growing scholarly attention, seeking to determine whether, why and how European Energy Policy has consolidated against all odds during a particularly critical moment for European integration. The underlying question that emerges in this context is whether the Energy Union represents a step forward towards a more homogenous and joined-up energy policy or, rather a strategy to manage heterogeneity through greater flexibility and differentiated integration. Given the multilevel and multisectoral characteristics of energy policy, answering these questions requires a three-fold analysis of (1) the degree of centralization of European Energy Policy (vertical integration), (2) the coherence between energy sub-sectors (cross-sectoral integration), and (3) the territorial extension of the energy acquis beyond the EU Member States (horizontal integration). Taken together, the Energy Union has catalyzed integration on the three dimensions. First, EU institutions are formally involved in almost every aspect of energy policy, including sensitive areas such as ensuring energy supplies. Second, the Energy Union, with its new governance regulation, brings under one policy framework energy sub-sectors that had developed in silos. And finally, energy policy is the only sector that has generated a multilateral process dedicated to the integration of non-members into the EU energy market. However, this integrationist dynamic has also been accompanied by an increase in internal and external differentiation. Although structural forms of differentiation based on sectoral opt-outs and enhanced cooperation have been averted, European Energy Policy is an example of so-called “micro-differentiation,” characterized by flexible implementation, soft governance and tailor-made exemptions and derogations.

Financial Analysis of European Energy Companies

Energy union and climate stands as one of the priorities of the European commission, aiming at the provision of secure, environmentally friendly and affordable energy. European energy policy over the last two decades have reshaped energy markets challenging the profitability and viability of energy companies. The latter must prove flexible in their management, including diversification of their portfolio, proceeding on structural unbundling and extending their operations in new markets and regions. Scope of the paper is to assess the financial and liquidity performances of key European energy companies over the period 2008-2017. The focus of the analysis concerns liquidity, profitability, operational performance and capital structure. The analysis is carried out in key energy companies, selected to have an extended geographical representation. Results indicate that gas and oil companies have less risk compared to power companies, attributed mainly to debt exposure. The renewable sector, although underrepresented in the examined sample, implies potential for high profitability. The profitability of power companies is affected by the ownership of assets with low operating costs and by diversification of operations, including regulated network operations. Eastern European power companies are favored by the derogation of EU regulation, though provision of free emission allowances.