Evolution of Business Models of Mining and Energy Sector Companies according to Current Market Trends

Lorenc, Sylwia; Leśniak, Tomasz; Kustra, Arkadiusz; Sierpińska, Maria

doi:10.3390/en16135212

Cited by 2 publications

(1 citation statement)

References 66 publications

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“…However, the implementation of a transformation in energy and of innovative policies is conditional on the operations of the energy companies [25][26][27]. The scope of those operations shapes the efficiency of the transformation of energy systems and, indirectly, societies' quality of life.…”

Section: Introductionmentioning

confidence: 99%

The Innovative Nature of Selected Polish Companies in the Energy Sector Compared to the Use of Renewable Energy Sources from a Financial and an Investor’s Perspective

Jonek-Kowalska,

Rupacz

2023

Resources

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Analysis of the energy sector from the micro perspective that relates to individual companies is much rarer than a macroeconomic analysis that concerns the power industry as a whole and its impact on the functioning of the economy. However, energy companies directly implement the government’s energy policies and innovation strategies. Thus, this article attempts to answer the question concerning the relationships in three large energy companies operating in Poland (1) between the use of renewable resources for production and the innovative nature of a company, (2) between the use of renewable energy sources and the standing on the stock exchange and profitability. This study used multiple case studies, financial analysis indicators, a time series analysis, and an interdependence analysis. This study covers 2011–2022 and allows consideration of long-term changes in domestic energy policy. Our findings suggest that there is a relationship between a company’s investment activity and the use of renewable energy sources. Unfortunately, the scope of the use of RESs in these companies is small (from ca. 1% to 15%, which demonstrates the low progress of green transformation) and has negative correlations with the investors’ assessment and profitability. In relation to innovation, the ratio of intangible assets to total assets was the highest for Tauron SA, increasing from 1.96% to 5.16%. Its material commitment to innovation is distinguishable from the other two companies. This is also the company with the highest share of RESs in energy production. The second place belongs to Enea SA with its ratio of intangible assets to total assets that increased from 0.72% to 1.69%. The ratio was lowest for PGE SA, increasing from 0.37% to 1.47%. The results and standing of the analyzed energy companies are strongly affected by energy policy amendments, including the improved status of coal and the re-oriented use of RESs (prioritizing solar energy over wind). As a result, these companies, despite the twelve-year period of the implementation of green transformation in the European Union, have achieved little on the path to sustainable energy. Therefore, achieving the goal of a zero-emission economy seems unlikely, since the renewable energy mix is still very slight and not diversified. Changes in energy policy are also not conducive to sectoral and economic innovation.

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Section: Introductionmentioning

confidence: 99%

The Innovative Nature of Selected Polish Companies in the Energy Sector Compared to the Use of Renewable Energy Sources from a Financial and an Investor’s Perspective

Jonek-Kowalska,

Rupacz

2023

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Carbon Capture and Storage (CCS) Implementation as a Method of Reducing Emissions from Coal Thermal Power Plants in Poland

Kopacz,

Matuszewska,

Olczak

2024

Energies

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The Polish economy, and especially the energy sector, is facing an energy transformation. For decades, most electricity in Poland has been generated from hard coal, but in recent years, renewable energy sources have been gaining an increasing share of the market. The aim of the energy transformation is to reduce the carbon footprint in electricity production, which translates into the decarbonization of the economy, including manufactured products. Currently (2024), increasing the share of renewable energy sources raises major challenges in terms of energy storage or other activities and forces cooperation with flexible sources of electricity generation. One of the challenges is to determine what a decarbonized energy mix in Poland could look like in 2050, in which there would be sources (with a smaller share of coal sources in the mix than currently) of electricity generation based on hard coal with CCS technology. In order to do this in an economically efficient manner, there are aspects related to the location of power plants that would remain in operation or repower current generating units. The added value of the study is the simulation approach to the analysis of the problem of assessing the effectiveness of CCS technology implementation together with the transport and storage infrastructure, as well as the multi-aspect scenario analysis, which can determine the limits of CCS technology effectiveness for a given power unit. Positive simulation results (NPV amounted to 147 million Euro) and the knowledge obtained in the scope of the correlated and simultaneous impact of many important cost factors and prices of CO2 emission allowances make this analysis and its results close to reality. Examples of analyses of the effectiveness of CCS system implementations known from the literature are most often limited to determining linear relationships of single explanatory variables with a specific forecasted variable, even if these are multifactor mathematical models.

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Evolution of Business Models of Mining and Energy Sector Companies according to Current Market Trends

Cited by 2 publications

References 66 publications

The Innovative Nature of Selected Polish Companies in the Energy Sector Compared to the Use of Renewable Energy Sources from a Financial and an Investor’s Perspective

The Innovative Nature of Selected Polish Companies in the Energy Sector Compared to the Use of Renewable Energy Sources from a Financial and an Investor’s Perspective

Carbon Capture and Storage (CCS) Implementation as a Method of Reducing Emissions from Coal Thermal Power Plants in Poland

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