Energies

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20 pages, 485 KiB

Open AccessArticle

Energy Losses Due to Imperfect Payment Infrastructure and Payment Instruments

by Oleksandr Melnychenko

Energies 2021, 14(24), 8213; https://doi.org/10.3390/en14248213 - 07 Dec 2021

Cited by 44 | Viewed by 2291

Abstract

One of the strategic objectives of the European Union is a reduction in greenhouse gas emissions and improvement of energy efficiency by at least 32.5% in different areas of the economy by 2030. However, little is known about the impact of payment in [...] Read more.

One of the strategic objectives of the European Union is a reduction in greenhouse gas emissions and improvement of energy efficiency by at least 32.5% in different areas of the economy by 2030. However, little is known about the impact of payment in retail on energy consumption. The purpose of this paper is to assess the chain of losses of time and energy, and therefore financial losses, that occur due to the imperfection of payment infrastructure and instruments using data of cashiers’ working time. The research is based on a regression analysis method, where the energy cost per payment transaction is considered in this study as a function of the number of customers per hour and the energy cost. The results of the panel models highlight that the number of customers per hour has a negative impact on the cost of energy per payment transaction. Furthermore, modern means and methods of payment, including cryptocurrencies, do not solve the problem of the excessive time that it takes to service payments, which entails a waste of energy and money. The empirical results give valuable insights into how to best organise payment in retail to achieve lower energy costs and improve energy efficiency in payment infrastructure. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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13 pages, 2341 KiB

Open AccessArticle

Multiple Correspondence Analysis in the Study of Remuneration Fairness: Conclusions for Energy Companies—Case Study of Poland

by Agnieszka Barczak, Natalia Marska-Dzioba, Tomasz Rostkowski and Dorota Rozmus

Energies 2021, 14(23), 7942; https://doi.org/10.3390/en14237942 - 26 Nov 2021

Cited by 1 | Viewed by 1611

Abstract

Finding a fair system of rewarding employees in energy companies and its influence on their motivation to perform their duties is a problem faced by many economic entities. Therefore, the aim of the article is to initially direct further research, taking into account [...] Read more.

Finding a fair system of rewarding employees in energy companies and its influence on their motivation to perform their duties is a problem faced by many economic entities. Therefore, the aim of the article is to initially direct further research, taking into account the basic characteristics of employees such as age, gender and level of education, in order to verify whether and to what extent it is necessary to dedicate the communication of the remuneration system to the needs of selected groups. Multiple correspondence analysis was used to analyse the data obtained from the questionnaires, examining the subjective evaluation of professional remuneration with regard to age, gender and level of education of the respondents in energy companies. The results obtained indicate that all enumerated features have an impact on the perception of work remuneration systems. It is also possible to adjust the applied remuneration solutions and the methods and content of messages to particular groups of employees of energy companies. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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16 pages, 2529 KiB

Open AccessArticle

Structure of Remuneration as Assessed by Employees of the Energy Sector—Multivariate Correspondence Analysis

by Agnieszka Barczak, Izabela Dembińska, Tomasz Rostkowski, Katarzyna Szopik-Depczyńska and Dorota Rozmus

Energies 2021, 14(22), 7472; https://doi.org/10.3390/en14227472 - 09 Nov 2021

Cited by 2 | Viewed by 2049

Abstract

Remuneration policy is an element of company management. Remuneration systems should be flexible and evolutionary. They must consider not only the changes in the external environment but, most of all, the changing needs of the internal environment. In practice, this means aligning the [...] Read more.

Remuneration policy is an element of company management. Remuneration systems should be flexible and evolutionary. They must consider not only the changes in the external environment but, most of all, the changing needs of the internal environment. In practice, this means aligning the company’s strategy and goals with the remuneration system. What is more, the remuneration policy must be consistent with all personnel substrategies, which should systematically create integrated human capital management. The aim of our research was to determine how employees perceive the appropriate structure of remuneration and how the relationships between the elements that make up the structure of remuneration are perceived. Energy sector employees were selected for the study, dividing the group of respondents by gender, age and level of education. The obtained data were submitted to multivariate correspondence analysis. The analysis of the perception map for the variables of gender, age and education, as well as the subjective assessment of the components of remuneration, allows the general assertion that both men and women believe that the amount of the fixed part of remuneration should be influenced by such elements as: work efficiency, education, seniority in the current place of employment, position in the hierarchy of the position held, as well as the level of salaries in the labor market. But people aged 60 and over with a vocational education tend to believe that the amount of the fixed part of remuneration should be influenced by collective agreements. Moreover, people aged 25–34 with higher education believe that the granting of additional benefits should not be affected by collective labor agreements. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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14 pages, 529 KiB

Open AccessArticle

Banks’ Energy Behavior: Impacts of the Disparity in the Quality and Quantity of the Disclosures

by Monika Klimontowicz, Anna Losa-Jonczyk and Bogna Zacny

Energies 2021, 14(21), 7325; https://doi.org/10.3390/en14217325 - 04 Nov 2021

Cited by 4 | Viewed by 1710

Abstract

Environmental, social, and governance (ESG) factors are becoming increasingly relevant for banks as entities that play an essential role in supporting the development of enterprises, individuals and the whole economy. The paper aims to evaluate the impact of the ESC directive on banks’ [...] Read more.

Environmental, social, and governance (ESG) factors are becoming increasingly relevant for banks as entities that play an essential role in supporting the development of enterprises, individuals and the whole economy. The paper aims to evaluate the impact of the ESC directive on banks’ energy behavior disclosures, explicitly relating to behaviors towards energy use and its impact on banks’ performance. We developed a methodology to provide the objective characteristic of banks’ energy behavior. In the paper, the banks’ energy behavior (BEB) index is calculated using sixteen indicators, followed by further analysis of its relationship with banks’ performance measured by indexes referring to banks’ characteristics, efficiency, and solvency. Our results are based on an analysis of the disclosures in nonfinancial reports. We find correlations that indicate that banks that are more likely to demonstrate energy behaviors (with a high BEB index) are those that better manage their costs and are more attractive for investors. Further analysis suggests that banks’ energy behavior has no statistically significant correlation with other performance indicators. We find only limited evidence of statistical associations between energy behavior and the net interest margin. We argue that our results contribute to the significant body of literature supporting the role of ESG in active engagement with energy issues. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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17 pages, 844 KiB

Open AccessArticle

Drivers of Sustainable Performance in European Energy Sector

by Monika Wieczorek-Kosmala, Dorota Marquardt and Jarosław Kurpanik

Energies 2021, 14(21), 7055; https://doi.org/10.3390/en14217055 - 28 Oct 2021

Cited by 8 | Viewed by 2162

Abstract

The main purpose of this study is to identify the drivers of sustainable performance in firms that operate in the energy sector. Under the assumption of bidirectional impacts, we empirically tested the trade-offs between sustainable and financial performance, in light of neoclassical theory, [...] Read more.

The main purpose of this study is to identify the drivers of sustainable performance in firms that operate in the energy sector. Under the assumption of bidirectional impacts, we empirically tested the trade-offs between sustainable and financial performance, in light of neoclassical theory, the natural-resources-based view, and instrumental stakeholder theory. We hypothesize that, in the energy sector, sustainable performance is positively associated with firms’ financial performance and that sustainability reporting is an important driver of sustainable performance. We add primarily by considering the relevance of sustainability-policy-oriented factors and revising the role of sustainability reporting within. We provide empirical evidence based on a large panel of firm-year observations within the 2013–2020 time span, for firms that operate in the energy sector and are located in Europe. We have found strong support for the positive link between sustainable performance (proxied with ESG score) and returns, which conforms to the assumptions of the natural-resources-based view. However, we have also found some evidence that more sustainable firms face greater costs input, which is considered in neoclassical theory. We have also confirmed no relevance of the slack-resources-based view. Finally, we found sustainability reporting to be the most influential among the set of sustainability-policy-oriented factors. This evidence demonstrates that stakeholders’ pressure on firms’ transparency could be an important driver of sustainable performance in the energy sector. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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15 pages, 1339 KiB

Open AccessArticle

Biomass Clusterization from a Regional Perspective: The Case of Lithuania

by Mantas Svazas, Valentinas Navickas, Yuriy Bilan, Joanna Nakonieczny and Jana Spankova

Energies 2021, 14(21), 6993; https://doi.org/10.3390/en14216993 - 25 Oct 2021

Cited by 3 | Viewed by 1611

Abstract

The usage of renewable resources has become inseparable from the further development of the world economy. To preserve a clean environment for future generations, the use of renewable resources is becoming inevitable even in less developed countries. Recently, the world is facing with [...] Read more.

The usage of renewable resources has become inseparable from the further development of the world economy. To preserve a clean environment for future generations, the use of renewable resources is becoming inevitable even in less developed countries. Recently, the world is facing with challenges in securing green heat production. This situation allows the biomass energy sector to develop. Biomass extracted from waste enables to produce green energy, while contributing to the sustainable development of forestry. One of the major constraints on the usage of biomass is the complex and multifaceted supply chain involving different business subjects. Compatibility problems with different interests can be solved by operating in a cluster structure. Cluster activities allow for more efficient use of limited resources. It allows to create added value for the region and society. Due to the specificity of biomass energy, there is an opportunity to create regional business units that would involve human resources and solves long-standing social problems. The aim of the study is to show the progress of Lithuanian regions in using biomass resources for heat energy production. With the assistance of cluster analysis, it is performed based on economic, social, and environmental data of Lithuanian regions. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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14 pages, 833 KiB

Open AccessArticle

A Panel Analysis of the Impact of Green Transformation and Globalization on the Labor Share in the National Income

by Małgorzata Gawrycka and Anna Szymczak

Energies 2021, 14(21), 6967; https://doi.org/10.3390/en14216967 - 23 Oct 2021

Cited by 8 | Viewed by 1703

Abstract

This study aims to examine the impact of green transition and globalization processes on changes in the labour share. The study covers 76 national economies diversified in development, global production share and energy transition stage from 2000 to 2018. Based on the Total [...] Read more.

This study aims to examine the impact of green transition and globalization processes on changes in the labour share. The study covers 76 national economies diversified in development, global production share and energy transition stage from 2000 to 2018. Based on the Total Economy Database data, panel models of the relationship between green transition, globalization and the labour share in the national income were estimated. The conducted Breusch–Pagan and Hausman tests proved the validity of using fixed-effects models. We confirmed the research hypothesis that the openness of the economy contributes to a decline in the labour share. The openness of the economy resulting from globalization reduces the labour share in the national income. We do not confirm hypotheses that suggest energy transition contributes to a reduction in the labour share and that the labour share will decline in the post-crisis period due to the lower bargaining power of workers. Changes in the labour share should be of interest to government representatives who influence the shape and implementation of economic policy, especially in employment policy, education, and investment policy, mainly aimed at the green transformation. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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19 pages, 1121 KiB

Open AccessArticle

The Development of Wind Farm Businesses and the Central Control of the Smart Grid in Spain: Making a Virtue of Necessity

by Santiago M. López and Mar Cebrián

Energies 2021, 14(20), 6582; https://doi.org/10.3390/en14206582 - 13 Oct 2021

Viewed by 1913

Abstract

This paper lays out the role of the first centre in the world for the integration into the electrical grid of electricity coming from renewable energy (the Spanish acronym for which is CECRE (Centro de Control de Energías Renovables; Control Centre for Renewable [...] Read more.

This paper lays out the role of the first centre in the world for the integration into the electrical grid of electricity coming from renewable energy (the Spanish acronym for which is CECRE (Centro de Control de Energías Renovables; Control Centre for Renewable Energies)) and the industrial development of large energy suppliers and wind turbine manufacturers in Spain. These two initiatives enabled the development of one of the first integrated markets for this type of energy source. The key contributions were the development of two software programs (wind management and management of solar light incidence), their visual implementation, and centralized digital control. An economic and business history approach is used to show the rise and relative failure of the Spanish wind industry during the period 2004–2015, when Spain became the fourth country after China, the US, and Germany in terms of installed capacity of renewable energy and, in relative terms, the second country after Denmark. This study is unique in that it provides an integrated vision of the reasons for the relative fall of Spain in the world ranking of wind energy producers. The methodology of the economic analysis of industrial policies makes it possible to explain the fall in the relative importance of Spain in the international panorama of wind farms. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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19 pages, 6259 KiB

Open AccessArticle

Impact of Weather Conditions on the Operation of Power Unit Cooling Towers 905 MWe

by Zbigniew Buryn, Anna Kuczuk, Janusz Pospolita, Rafał Smejda and Katarzyna Widera

Energies 2021, 14(19), 6412; https://doi.org/10.3390/en14196412 - 07 Oct 2021

Cited by 3 | Viewed by 2075

Abstract

The paper presents the results of measurements and calculations concerning the influence of weather conditions on the operation of wet cooling towers of 905 MWe units of the Opole Power Plant (Poland). The research concerned the influence of temperature and relative humidity of [...] Read more.

The paper presents the results of measurements and calculations concerning the influence of weather conditions on the operation of wet cooling towers of 905 MWe units of the Opole Power Plant (Poland). The research concerned the influence of temperature and relative humidity of air, wind and power unit load on the water temperature at the outlet from the cooling tower, the level of water cooling, cooling efficiency and cooling water losses. In the cooling water loss, the evaporation loss stream and the drift loss stream were distinguished. In the analyzed operating conditions of the power unit, for example, an increase in

T_{a m b}

air by 5 °C (from

20 - 22 ° C

to

25 - 27 ° C

) causes an increase in temperature at the outlet of the cooling tower by

3 - 4 ° C

. The influence of air temperature and humidity on the level of water cooling

Δ T_{w}

and cooling efficiency

ε

were also found. In the case of

Δ T_{w}

, the effect is in the order of

0.1 - 0.2 ° C

and results from the change in cooling water temperature and the heat exchange in the condenser. The ε value is influenced by air temperature and humidity, which determine the wet bulb temperature value. Within the range of power changes of the unit from

400

to

900 MWe

, the evaporated water stream

{\dot{m}}_{e v}

, depending on the environmental conditions, increases from

400 - 600 tons / h

to the value of

1000 - 1400 tons / h

. It was determined that in the case of the average power of the unit at the level of

576.6 MWe

, the average values of the evaporation and drift streams were respectively

0.78 %

and

0.15 %

of the cooling water stream. Using statistical methods, it was found that the influence of wind on the level of water cooling, cooling efficiency and cooling water losses was statistically significant. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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24 pages, 2273 KiB

Open AccessArticle

Economic Analysis and Generic Algorithm for Optimizing the Investments Decision-Making Process in Oil Field Development

by Catalin Popescu and Sorin Alexandru Gheorghiu

Energies 2021, 14(19), 6119; https://doi.org/10.3390/en14196119 - 26 Sep 2021

Cited by 5 | Viewed by 1875

Abstract

Due to the substantial amounts of money involved and the complex interactions of a number of different factors, managers of oil and gas companies are faced with significant challenges when making investment decisions that will increase business efficiency and achieve competitive advantages, especially [...] Read more.

Due to the substantial amounts of money involved and the complex interactions of a number of different factors, managers of oil and gas companies are faced with significant challenges when making investment decisions that will increase business efficiency and achieve competitive advantages, especially through cost control. Due to the various uncertainties of the current period, optimal investment strategies are difficult to determine. Thus, through an economic analysis that includes data analysis, quantitative risk analysis scenarios, modelling and simulations, a work framework, in the form of a generic algorithm, is proposed with the aim of generating a complex procedure for optimizing investment decisions in oil field development. A complex set of elements is considered in the analysis: costs (operational expenditures (OPEX) and capital expenditures (CAPEX), daily drilling rig costs), prices (oil, gas, separation and water injection preparation), production profiles, different types of taxes and discount factors. Above all, oil price volatility plays an essential role and creates uncertainty in relation to profitability and the strategic investment decisions made by oil exploration and production companies. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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25 pages, 46264 KiB

Open AccessArticle

Clustering Analysis of Energy Consumption in the Countries of the Visegrad Group

by Michał Gostkowski, Tomasz Rokicki, Luiza Ochnio, Grzegorz Koszela, Kamil Wojtczuk, Marcin Ratajczak, Hubert Szczepaniuk, Piotr Bórawski and Aneta Bełdycka-Bórawska

Energies 2021, 14(18), 5612; https://doi.org/10.3390/en14185612 - 07 Sep 2021

Cited by 17 | Viewed by 2520

Abstract

The main purpose of this paper is to assess energy consumption with a breakdown into main sectors of the countries that belong to the Visegrad Group. The specific objectives aim to determine changes in energy absorption, its productivity, structure by sectors and to [...] Read more.

The main purpose of this paper is to assess energy consumption with a breakdown into main sectors of the countries that belong to the Visegrad Group. The specific objectives aim to determine changes in energy absorption, its productivity, structure by sectors and to show the similarities of the Visegrad Group countries to the other EU states in terms of the sectoral energy absorption structure. All members of the Visegrad group, i.e., Poland, Hungary, Slovakia and the Czech Republic, were purposefully selected for the study as of 31 December 2018. The research period covered the years 1990–2018. The sources of gathered information were the literature on the subject and OECD data. The following methods were used for the analysis and presentation of materials: explanations, tabular and graphical depictions, descriptive statistics, dynamics indicators, and cluster analysis performed with the following methods: k-means, hierarchical agglomerative clusters and DIvisive ANAlysis (DIANA). There is a limited number of previous studies on the relationship between the national level of economic development and energy consumption in different sectors of industry. Additionally, there are no such analytical projects concerning EU states. The article fills the research gap in this area. It was established that the dynamics of productivity growth over the nine years (2010–2018) was similar in the countries of the Visegrad group and on average for the EU. This means that the members of the Visegrad group did not actually improve their energy efficiency as compared to the EU average. The reason may be the increasingly faster implementation of modern technologies in developed economies of Western Europe as compared to the developing countries, which include the members of the Visegrad group. The conversion of the economy had a very large impact on changing the structure of energy absorption by sector. Industry and agriculture lost their importance. On the other hand, the transport and service sectors benefited. As a result of the cluster analysis, all EU (European Union) states were divided into four groups. Poland, the Czech Republic, and Hungary found themselves in one group, along with most Western European countries. This may mean that the economies of these states have become unified with highly developed economic systems. Slovakia found itself in the group of states with a greater importance of industry. The study complements the contribution to the theory. From a practical point of view, it shows the impact of economic transformation on changes in energy consumption in individual sectors, which may be a model of transition in this area. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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25 pages, 21701 KiB

Open AccessArticle

Methods of Ensuring Energy Security with the Use of Hard Coal—The Case of Poland

by Aurelia Rybak and Aleksandra Rybak

Energies 2021, 14(18), 5609; https://doi.org/10.3390/en14185609 - 07 Sep 2021

Cited by 9 | Viewed by 2138

Abstract

In this article, the authors present methods based on hard coal that may ensure energy security for European Union countries. The research was carried out based on the example of Poland. The main reason for which coal is being gradually withdrawn from the [...] Read more.

In this article, the authors present methods based on hard coal that may ensure energy security for European Union countries. The research was carried out based on the example of Poland. The main reason for which coal is being gradually withdrawn from the energy mixes in EU countries is its negative impact on the natural environment and the health of citizens and economic factors related to domestic fuel production. The authors propose the creation of energy–chemical clusters as a solution to these problems. It is assumed that the clusters would operate following the principles of the circular economy. We also propose methods for the optimization of the production and transport costs within the cluster. Then, we conduct profitability analysis of the proposed waste management methods. At the level of the designated cluster, using network algorithms enabled us to reduce the transport costs by at least 50%. It is possible to obtain rare earth elements (REEs) worth USD 22,970 from 1 Mg of ash. At the level of the analyzed cluster, this leads to an annual profit of USD 3.5 billion. The profit related to algae production at the cluster level is approximately USD 2.5 bn. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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17 pages, 1318 KiB

Open AccessArticle

Ukrainian Market of Electrical Energy: Reforming, Financing, Innovative Investment, Efficiency Analysis, and Audit

by Ruslan Kostyrko, Tetiana Kosova, Lidiia Kostyrko, Liudmyla Zaitseva and Oleksandr Melnychenko

Energies 2021, 14(16), 5080; https://doi.org/10.3390/en14165080 - 18 Aug 2021

Cited by 44 | Viewed by 2247

Abstract

The aim of this research is to determine the influence of electrical energy market regulation reform in Ukraine on the competitive environment, the reproduction processes of financial and innovative support, and the energy efficiency of the national economy. The authors have put forward [...] Read more.

The aim of this research is to determine the influence of electrical energy market regulation reform in Ukraine on the competitive environment, the reproduction processes of financial and innovative support, and the energy efficiency of the national economy. The authors have put forward and verified the hypothesis that, under conditions of institutional maturity of the Ukrainian electrical energy market, its liberalization and separation of the kinds of activity related to generation, transmission, and distribution leads to a decrease in prices, and the level of economic concentration stimulates implementation of innovations and the formation of reports on sustainable development. Over the thirteen-year time interval, a steady trend of decreasing energy intensity of the Ukrainian economy was established, and the appropriateness of energy efficiency management based on strategic targets was substantiated. The electricity market model in Ukraine is defined as a hybrid one, with an emphasis on trade under bilateral agreements. It was statistically found that liberalization of the electrical energy market in Ukraine contributed to a decrease in prices, with the exception of the areas of largest household and non-household consumers. The high level of asset concentration in the accounts of large enterprises was revealed, and the conclusion concerning the improvement of the competitive environment in the electricity production sector and the existence of the features of natural monopolies in the areas of transmission and distribution of electricity was made. The assessment of the financial competitive ability and profitability of electrical energy market entities was made, the main entities of the investment activity and the sources of their financing were characterized, and innovations were emphasized. The role of the standards of the audit of integrated reporting of the Ukrainian energy holdings and their role in ensuring sustainable development was determined. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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15 pages, 668 KiB

Open AccessArticle

Technical Efficiency and Productivity Change in the European Union with Undesirable Output Considered

by Djula Borozan

Energies 2021, 14(16), 4937; https://doi.org/10.3390/en14164937 - 12 Aug 2021

Cited by 3 | Viewed by 1544

Abstract

Global competition and climate change are changing the nature of economic activity and impose the urgent need to have environmentally sensitive productivity growth. The paper addresses both desirable and undesirable output to assess technical efficiency and productivity changes, as well as evaluate the [...] Read more.

Global competition and climate change are changing the nature of economic activity and impose the urgent need to have environmentally sensitive productivity growth. The paper addresses both desirable and undesirable output to assess technical efficiency and productivity changes, as well as evaluate the importance of an energy input in the production function and productivity change differentials in the European Union (EU) over the period 2000–2018. To that end, it uses output-oriented data envelopment analysis and Malmquist productivity analysis. The results reveal that the EU is facing significant challenges due to a decreasing trend in technical efficiency and slow productivity growth. The absence of major improvements in human resource performance has reduced the benefits of technological innovations which are the main source of productivity growth. Additionally, the results show that energy use did not critically influence efficiency and productivity. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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14 pages, 1931 KiB

Open AccessArticle

Examining Statistical Methods in Forecasting Financial Energy of Households in Poland and Taiwan

by Tomasz Korol

Energies 2021, 14(7), 1821; https://doi.org/10.3390/en14071821 - 25 Mar 2021

Cited by 6 | Viewed by 1557

Abstract

This paper examines the usefulness of statistical methods in forecasting the financial energy of households. The study’s objective is to create the innovative ratios that combine both financial and demographic information of households and implement them in the forecasting models. To conduct this [...] Read more.

This paper examines the usefulness of statistical methods in forecasting the financial energy of households. The study’s objective is to create the innovative ratios that combine both financial and demographic information of households and implement them in the forecasting models. To conduct this objective, six forecasting models are developed using three different methods—discriminant analysis, logit analysis, and decision trees separately for households in Poland and Taiwan. Such a research approach will answer the question whether the implementation of constructed ratios can increase effectiveness of the forecasting model and its’ versatility between different economic regions. The research relies on four samples of households—two learning samples and two testing samples (one for each country) consisting of 2400 households from both countries. This study is one of the first attempts in the literature globally to develop forecasting models based on ratios constructed with a combination of two different types of variables—one financial with one demographic variable. Findings confirm the high usability of the proposed innovative approach for forecasting the financial energy of households by taking into account a wide spectrum of diagnostic variables representing the financial strength of consumers. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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26 pages, 2706 KiB

Open AccessReview

Comparison of Hydrocarbon Fiscal Regimes of Some European Oil and Gas Producers and Perspectives for Improvement in the Republic of Croatia

by Marko Kolovrat, Lucija Jukić and Daria Karasalihović Sedlar

Energies 2021, 14(16), 5056; https://doi.org/10.3390/en14165056 - 17 Aug 2021

Cited by 2 | Viewed by 2620

Abstract

Hydrocarbon exploration and production activities are basic to the functioning of the oil and gas industry, while concession contracts and fees are central concepts in the aforementioned activities. The authors consider several questions regarding these concepts, such as: what is the legislative, institutional, [...] Read more.

Hydrocarbon exploration and production activities are basic to the functioning of the oil and gas industry, while concession contracts and fees are central concepts in the aforementioned activities. The authors consider several questions regarding these concepts, such as: what is the legislative, institutional, and fiscal framework in certain European countries regarding hydrocarbon exploration and production? What are the major differences between them? Finally, is there room for improvement of the framework in the Republic of Croatia? To answer these questions, the authors contacted some of the relevant institutions and accessed official government gazettes, institution websites, legal aggregators, journal articles, books, and different legal publications regarding the oil and gas industry for several European countries, namely the Kingdom of Norway, the Russian Federation, the Republic of Austria, and the Republic of Croatia. As a result, this paper presents an overview of legislation, institutions, concession contracts, taxes, and fees for each of the aforementioned countries. The authors conclude that the Republic of Croatia could benefit from applying some foreign solutions in its own legislative and fiscal framework, i.e., using a sliding scale for royalty calculation and simplifying some administrative procedures. Full article

(This article belongs to the Special Issue Energy Management and Economics Analyses)

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