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38 pages, 3228 KiB

Open AccessArticle

Study on Support Mechanisms for Renewable Energy Sources in Poland

by Agnieszka Mazurek-Czarnecka, Ksymena Rosiek, Marcin Salamaga, Krzysztof Wąsowicz and Renata Żaba-Nieroda

Energies 2022, 15(12), 4196; https://doi.org/10.3390/en15124196 - 07 Jun 2022

Cited by 9 | Viewed by 2170

Abstract

Poland, as a member of the European Union (EU), has to fulfill the obligations resulting from its membership in it. It is necessary to comply with numerous directives and other legal provisions adopted by the European Commission in the field of the energy [...] Read more.

Poland, as a member of the European Union (EU), has to fulfill the obligations resulting from its membership in it. It is necessary to comply with numerous directives and other legal provisions adopted by the European Commission in the field of the energy market and production. Meeting the demands of the European Green Deal, as well as the solutions presented in the Fit for 55 package, is very difficult. In Poland, coal is still used in over 67% of electricity production. This article presents an attempt to join the multi-threaded discussion on renewable energy sources (RES) and the possibility of increasing their share in Poland’s energy mix. This article defines the RES support mechanisms in Poland, presents the support systems and instruments functioning within them, and also provides a statistical prediction of trends in energy production from RES for upcoming years. Research utilized the Brown, Holt, and Winters models and the cause-and-effect model. The research conducted in this article shows that Poland must make significant efforts to decarbonize the economy; in addition, the too quickly changing RES support system is not conducive to the development of these sources. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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19 pages, 2973 KiB

Open AccessArticle

Social Values as One of the Crucial Determinants of Efficient Strategic Management of an Energy Sector Company

by Krzysztof Machaczka and Maciej Stopa

Energies 2022, 15(10), 3765; https://doi.org/10.3390/en15103765 - 20 May 2022

Cited by 2 | Viewed by 1613

Abstract

A continual increase in the influence of exogenic conditions on a company’s ability to sustain and develop and increasing complexity of the management processes correlated with the discovery of new dimensions of an enterprise, which determine its potential—these all lead to a growing [...] Read more.

A continual increase in the influence of exogenic conditions on a company’s ability to sustain and develop and increasing complexity of the management processes correlated with the discovery of new dimensions of an enterprise, which determine its potential—these all lead to a growing interest in the search for the factors which might facilitate the elevation of the level of integrity of a business model of an enterprise/organisational and managerial system of an enterprise. Currently, it is absolutely necessary to perceive an enterprise not only in the terms of a rational economic system that, in its activity, concentrates on the generation of a positive financial result, and the creation of its value for the stockholders, but also as the system, at the same time, is meant to act responsibly in relation to its stakeholders, society and the market. The observation of successful enterprises shows clearly that the company values make up an element indispensable for the creation of effective strategies of development, and, at the same time, an element guaranteeing them an appropriate level of strategic integrity in external and internal dimensions, paired with the preservation of flexibility for necessary reconfiguration. Some special attention should be paid to the fact that, in order to build permanent competitive advantage, in the context of the strategic dimension of company management, values should play a key role also in the enterprises within heavy industry, including the energy sector. This article aims to present the significance of selected aspects of strategic dimension management in the context of company strategy in one of the largest energy sector companies in Poland. It is based on an analysis of the results of research carried out in the second part of 2021 and at the beginning of 2022. Qualitative studies based on a questionnaire survey and in-depth interviews were conducted among this institution’s managers who are responsible for formulating the company strategy. The study results have shown that social and employees’ personal values, organisational culture, and management by values, have a substantial impact on the character and quality of the strategic dimension management of the analysed company. The article aims to show the role of social values in determining efficiency in the area of managing the strategic dimension of a company. In the context of this aim, the following important research questions should be asked: What is the influence of social values and values represented by the TMT (top management team) on a given company’s efficiency in the context of strategic decisions; and how do these factors influence the stability of the company development, and do they ensure the organisation’s resilience to short-term external changes? Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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22 pages, 2748 KiB

Open AccessArticle

CO₂ Emissions and Macroeconomic Indicators: Analysis of the Most Polluted Regions in the World

by Nestor Shpak, Solomiya Ohinok, Ihor Kulyniak, Włodzimierz Sroka, Yuriy Fedun, Romualdas Ginevičius and Joanna Cygler

Energies 2022, 15(8), 2928; https://doi.org/10.3390/en15082928 - 15 Apr 2022

Cited by 14 | Viewed by 2488

Abstract

There is no sector of the economy that is not dependent on the state of development of the energy sector. This sector produces a significant share of global CO₂ emissions. Harmful CO₂ emissions and greenhouse gas emissions accelerate global warming. Therefore, [...] Read more.

There is no sector of the economy that is not dependent on the state of development of the energy sector. This sector produces a significant share of global CO₂ emissions. Harmful CO₂ emissions and greenhouse gas emissions accelerate global warming. Therefore, more and more countries are adopting a strategy for the transition to carbon-neutral energy. However, energy independence and economic competitiveness are closely linked. One cannot analyze them separately. Given these facts, we focused on conducting an econometric study of the impact of key macroeconomic indicators on the level of CO₂ emissions into the air in the United States and the Asia-Pacific region as the regions with the largest CO₂ emissions. The modeling was carried out using the method of a correlation–regression analysis with the subsequent construction of econometric models. The quality of the built econometric models was checked using the coefficient of determination and Fisher’s criterion. The sample of statistics was formed from all the available values of the World Bank’s annual indicators for the period 1970–2020. The findings achieved showed that: (i) The results of our study confirmed the dependence of CO₂ emissions on macroeconomic factors such as GDP, exports and imports, the rate of inflation, and unemployment. It allows the governments of many countries to use research findings to diagnose, monitor, and forecast macroeconomic outcomes to reduce or maintain allowable CO₂ emissions. (ii) Identifying and assessing economic losses from environmental pollution by CO₂ emissions using econometric models will allow to ensure effective public environmental and economic policies aimed at reducing harmful CO₂ emissions into the air. It may be regarded as the practical importance of our study. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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16 pages, 872 KiB

Open AccessArticle

Social Disconnectedness and Career Advancement Impact on Performance: The Role of Employees’ Satisfaction in the Energy Sector

by Saeed A. Al-Haidan, Alaa M. S. Azazz and Ibrahim A. Elshaer

Energies 2022, 15(7), 2599; https://doi.org/10.3390/en15072599 - 02 Apr 2022

Cited by 5 | Viewed by 2574

Abstract

Employee performance in remote areas is a source of concern for the Saudi Arabian energy sector, which serves as the primary engine of the country’s economy. This research paper aimed to study the impact of social disconnectedness and career advancement on employees’ performance [...] Read more.

Employee performance in remote areas is a source of concern for the Saudi Arabian energy sector, which serves as the primary engine of the country’s economy. This research paper aimed to study the impact of social disconnectedness and career advancement on employees’ performance through employee satisfaction as a mediator. The targeted population was employees worked in remote areas in the energy sector. Data were collected using a web-based questionnaire and distributed electronically using social media. A total of 390 respondents participated in this study, and structural equation modeling (SEM) was employed to analyze the collected data. The study findings revealed that career advancement positively impacts employee performance; however, social disconnectedness negatively impacts employees’ performance. Both career and social factors had an indirect effect on employees’ performance through employee satisfaction. Lastly, results demonstrated a positive impact of employee satisfaction on employee performance. Important insights into theoretical and practical implications were discussed. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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21 pages, 1684 KiB

Open AccessArticle

Accounting and Market Risk Measures of Polish Energy Companies

by Anna Rutkowska-Ziarko and Lesław Markowski

Energies 2022, 15(6), 2138; https://doi.org/10.3390/en15062138 - 15 Mar 2022

Cited by 5 | Viewed by 1867

Abstract

Companies in the energy sector, due to their important role in the economy and the specificity of energy sources, are exposed to many types of risk, ranging from the risk associated with the company’s operations and the global economic and political situation in [...] Read more.

Companies in the energy sector, due to their important role in the economy and the specificity of energy sources, are exposed to many types of risk, ranging from the risk associated with the company’s operations and the global economic and political situation in the world. Energy companies are usually large capital companies whose shares are listed on the stock market. The mentioned risk factors may shape the risk level of these companies. The study aims to examine the relationship between market and accounting risk measures for Polish energy companies listed on the Warsaw Stock Exchange. This paper uses market and accounting betas in the conventional and downside approach. In addition to market measures of total risk, it also examines the variability of ROA for energy companies. The study of the relationship between market risk measures and accounting risk measures was based on Pearson’s correlation coefficient, standard linear regression, and quantile regression. The relationship between market and accounting measures of total and systematic risk was identified. Moreover, quantile regressions revealed that the slope for accounting variables varies across the quantiles. Our research shows that for energy companies not listed on the capital markets, for which no market risk measures can be derived, accounting betas and downside accounting can be useful tools in risk analysis. The contribution of the article to the risk analysis of energy companies is the use of unpopular accounting beta factors and a new modification of these coefficients for downside risk. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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30 pages, 8528 KiB

Open AccessEditor’s ChoiceArticle

The Balance of Outlays and Effects of Restructuring Hard Coal Mining Companies in Terms of Energy Policy of Poland PEP 2040

by Jarosław Kaczmarek

Energies 2022, 15(5), 1853; https://doi.org/10.3390/en15051853 - 02 Mar 2022

Cited by 7 | Viewed by 2442

Abstract

The article aimed to present the balance of outlays and the effects of restructuring Polish hard coal mining companies in the face of directions of the Energy Policy of Poland PEP 2040. The research problem is defined by the following question: have the [...] Read more.

The article aimed to present the balance of outlays and the effects of restructuring Polish hard coal mining companies in the face of directions of the Energy Policy of Poland PEP 2040. The research problem is defined by the following question: have the goals of restructuring coal mining companies been achieved (and to what extent), and has the restructuring-related expenditure been economically rational? An answer to this question is based on the verification of five research hypotheses, in particular, have the incurred costs of restructuring contributed to changes to the energy mix (its desired time and degree), reducing related expenditure? The scope of research comprises all companies engaged in the extraction of solid mineral energy resources (the entire industry). An assessment of the restructuring process was conducted from two perspectives related to its time and scope. The first perspective was the restructuring programme as a sub-process of the economic transformation (1990–2020), and economic forecasts until the planned coal phase-out (2021–2049). The second perspective was an analysis of the mechanism that determines companies’ performance after carrying out typical and direct restructuring activities (2007–2021). Two multivariate measures were developed for methodological purposes, and the analysis also made use of a logit prediction model and several financial analysis ratios. The analysis led to the general conclusion that the restructuring of hard coal mining companies was not effective—it did not ensure their independent and effective functioning. In particular, the analysis led to the following conclusions: (1) the restructuring process had different levels of intensity, which allowed for its periodization; (2) the main and increasingly important factor of changes was human labour productivity (as opposed to objectified labour—machines and equipment); (3) the identified mechanism of creating results pointed to the areas of inappropriate management; (4) the previous restructuring costs did not contribute to changing the energy mix, and they are likely to rise until coal phase-out. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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25 pages, 2326 KiB

Open AccessArticle

Drivers of Digitalization in the Energy Sector—The Managerial Perspective from the Catching Up Economy

by Justyna Światowiec-Szczepańska and Beata Stępień

Energies 2022, 15(4), 1437; https://doi.org/10.3390/en15041437 - 16 Feb 2022

Cited by 19 | Viewed by 3243

Abstract

This article attempts to identify the key forces driving the successful digitalization of the energy sector, ensuring improvements in the energy triangle including sustainability, stability, and economic performance. The article sheds light on the diverse energy priorities at supra-, national, and managerial levels, [...] Read more.

This article attempts to identify the key forces driving the successful digitalization of the energy sector, ensuring improvements in the energy triangle including sustainability, stability, and economic performance. The article sheds light on the diverse energy priorities at supra-, national, and managerial levels, and the role of digitalization in achieving these objectives. Catching up economies (such as Poland), being post-socialist EU member states, in order to transform its energetic sector, must overcome a number of infrastructural and social shortcomings retained as a legacy of the socialist economy. As such, sustainability (as the core priority at EU energy agenda) may not be the leading objective at both national and company level in the energy sector transformation. This article presents the results of empirical research carried out through distribution of e-questionnaire addressed to Polish managers from the energy sector. The results were analyzed using the fsQCA method. The findings suggest that, for managers, the most important drivers of digitalization and transformation of the energy sector in Poland are its high economic performance, together with support for energy prosumers and consumers. The prerequisites for a successful digitalization are alternatively the absence of management barriers, or a combination of high economic performance and a strong focus on environmental protection. Surprisingly, according to managers surveyed, the rapid implementation of new technologies is not considered a vital condition for successful digital transformation of the energy sector, which implies either or managerial lack of knowledge in this area and/or a reluctance to introduce digital rapid technologies. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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12 pages, 574 KiB

Open AccessArticle

The Impact of Energy Development of the European Union Euro Area Countries on CO₂ Emissions Level

by Łukasz Nazarko, Eigirdas Žemaitis, Łukasz Krzysztof Wróblewski, Karel Šuhajda and Magdalena Zajączkowska

Energies 2022, 15(4), 1425; https://doi.org/10.3390/en15041425 - 15 Feb 2022

Cited by 14 | Viewed by 2256

Abstract

In the last years, the fact of anthropogenic impact on climate change taking place in the world has become indisputable. Both countries and international organizations have taken steps to reduce GHG emissions, move to a low-carbon economy and implement solutions that reduce human [...] Read more.

In the last years, the fact of anthropogenic impact on climate change taking place in the world has become indisputable. Both countries and international organizations have taken steps to reduce GHG emissions, move to a low-carbon economy and implement solutions that reduce human impact on the environment. The EU, by intensifying its activities, has also prepared a strategy known as the European Green Deal. In implementing the EGD, it is important to analyze the impact of energy development in energy-intensive sectors of the economy (industry, transport, agriculture, services and other cores) on atmospheric pollution. Energy development is understood as the energy consumption percentage from all its consumption. In the article, complex correlation–regression analysis was implemented, which included not only energy development impact on the CO₂ emissions level (i.e., production-based CO₂ efficiency), but also its impact on economic growth. The research was conducted for the EU euro area countries. It was determined that the strongest positive correlation is to be found in the transport sector, which implies that with an increase in energy consumption in that sector, production-based CO₂ efficiency is increasing. On the other hand, this increment in efficiency was relatively small and was achieved with the rapid growth of the energy consumption. The implemented research confirmed that the transportation sector is the one which is polluting the atmosphere the most with CO₂ emissions in the Eurozone. The results of the implemented research could be used for the formation of targeted measures for the green growth strategy implementation, and also for ECB and EIB to support “green” projects. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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15 pages, 314 KiB

Open AccessArticle

The Impact of a New Accounting Standard on Assets, Liabilities and Leverage of Companies: Evidence from Energy Industry

by Ireneusz Górowski, Bartosz Kurek and Marek Szarucki

Energies 2022, 15(4), 1293; https://doi.org/10.3390/en15041293 - 10 Feb 2022

Cited by 8 | Viewed by 4792

Abstract

The climate policy of the EU enforced substantial changes for producers and suppliers of energy. New assets and providers of capital are needed to fulfill the policy requirements. To provide comparability and facilitate an investment process, EU law requires companies to prepare annual [...] Read more.

The climate policy of the EU enforced substantial changes for producers and suppliers of energy. New assets and providers of capital are needed to fulfill the policy requirements. To provide comparability and facilitate an investment process, EU law requires companies to prepare annual financial statements according to International Financial Reporting Standards. One of these accounting standards—IFRS 16 Leases—specifies how to recognize, measure, present and disclose leases. It came into force in 2019 and implemented a single lessee accounting model, contrary to a dual accounting approach for lease accounting. The latter approach enabled companies to keep leased tangible assets and respective liabilities off-balance sheet. By using a sample of companies from the energy industry (oil, gas, energy and mining sectors) that are listed on the Warsaw Stock Exchange, we examine, measure, and analyze the impact of IFRS 16 Leases implementation on the value of assets, liabilities and leverage on assets and leverage on equity. The paper may serve as an insightful case study of how the implementation of a new standard influences the financial situation of the affected companies in the energy industry. Our paper contributes to the scientific debate in the following three ways: (1) we confirmed the influence of IFRS 16 Leases on assets, liabilities, leverage on assets and leverage on equity that was anticipated in the literature, (2) using the auditing methodology, we demonstrated the material changes of assets and liabilities in the energy industry, (3) based on the research results, we suggested recommendations for further scientific studies. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

55 pages, 9688 KiB

Open AccessArticle

Synergy Analysis of Knowledge Transfer for the Energy Sector within the Framework of Sustainable Development of the European Countries

by Adriana Grigorescu, Amalia-Elena Ion, Cristina Lincaru and Speranta Pirciog

Energies 2022, 15(1), 276; https://doi.org/10.3390/en15010276 - 31 Dec 2021

Cited by 7 | Viewed by 2204

Abstract

The target for 2030 of reaching a 32% share of renewable energy in the gross final energy consumption can be achieved by speeding up the transformation pending the implementation of knowledge transfer (KT) policies that foster regional cooperation for the cost-effective development of [...] Read more.

The target for 2030 of reaching a 32% share of renewable energy in the gross final energy consumption can be achieved by speeding up the transformation pending the implementation of knowledge transfer (KT) policies that foster regional cooperation for the cost-effective development of renewables. The research purpose is the analysis of important factors in the development of the renewable energy sector through knowledge sharing and collaboration across the Member States in a comparable manner. The hypotheses are as follows: Hypothesis 1 (H1) there are synergies between knowledge transfer and economic impact through income and jobs for the renewable energy sector and Hypothesis 2 (H2) the EU countries have different profiles of synergy. The research proposition was established through the employment of a quantitative synergy and trade-offs analysis based on the knowledge transfer indicators and the sustainable development framework. The research method, namely the advanced sustainability analysis (ASA), uses the quantitative assessment tool for the understanding of synergies between two or three dimensions of sustainable development, presuming that the combined effect of the factors is greater than the sum of their individual effects. The current research comprises an evaluation of the renewable energy sector knowledge transfer policy models at the national level for 24 EU countries and four other European states, focusing on the capabilities to create synergies. The results of the study represent a valuable input for the policy makers, allowing for a coherent and sustainable planning and programming of the new electricity market, adopted through the Clean Energy Package, and following a highly dynamic and radically disruptive background, exploiting the ‘successful’ profiles. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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16 pages, 1281 KiB

Open AccessArticle

Risk Identification in Cogeneration (Combined Heat and Power) Projects: A Polish Case Study

by Joanna Rzempała, Daniel Borkowski and Artur Piotr Rzempała

Energies 2022, 15(1), 42; https://doi.org/10.3390/en15010042 - 22 Dec 2021

Cited by 5 | Viewed by 2300

Abstract

The purpose of the article is to define the risk factors in cogeneration projects and to demonstrate that a lack of sufficient identification of risks in different phases affects project implementation. A theoretical study is conducted, which aims to identify risk factors in [...] Read more.

The purpose of the article is to define the risk factors in cogeneration projects and to demonstrate that a lack of sufficient identification of risks in different phases affects project implementation. A theoretical study is conducted, which aims to identify risk factors in cogeneration projects, based on case studies of such projects in Poland. The study offers a view at CHP (combined heat and power) projects as extremely dependent on the external environment of the organisation. These projects are subject to many external regulations due to their environmental impact and dynamically changing technical aspects. The biggest technical errors occur at the planning and construction stages. The biggest economic and financial risks occur at the execution stage after 2% and 3% of additional design costs occur, respectively. The authors estimated the risks at different stages of the project and concluded that the total cost of failure in correct identification of the risks at the planning stage exceeded PLN 1.5 billion, which amounted to almost 60% of the total additional costs of materialised project risk. Consequently, the biggest challenges in the area of CHP project management at the planning stage are a thorough identification of risks, and the pricing and planning reactions to risk. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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14 pages, 1152 KiB

Open AccessArticle

Comparative Assessment of the Impact of Electricity Consumption in Different Economic Sectors on the Economic Development of the EU Member States

by Romualdas Ginevičius, Gracjana Noga, Eigirdas Žemaitis, Barbara Piontek and Karel Šuhajda

Energies 2021, 14(24), 8335; https://doi.org/10.3390/en14248335 - 10 Dec 2021

Cited by 1 | Viewed by 1630

Abstract

Recently, the Member States of the European Union (EU) have found themselves in a controversial situation. On the one hand, national economic development is barely possible without increasing electricity consumption, whereas on the other we are facing increased use of natural resources (coal, [...] Read more.

Recently, the Member States of the European Union (EU) have found themselves in a controversial situation. On the one hand, national economic development is barely possible without increasing electricity consumption, whereas on the other we are facing increased use of natural resources (coal, oil, gas, wood), thermal effects, pollution and risks to human health. The European Green Deal is a response to the currently observed negative trends. The strategy aims to accelerate the economic development of the EU Member States, thus reducing electricity consumption. Objectives may include both the national economy and the electricity generation sector by applying advanced technologies and introducing innovations that increase output efficiency while reducing electricity costs. Assessing the current situation is vital for the successful implementation of the European Green Deal, i.e., by comparing the impact of electricity consumption on the economic development of the Member States. Thus, combining indicators for national economic development and the extent of electricity consumption into a single aggregate is necessary because electricity greatly affects economic development. The proposed methodology allows dividing the analysed EU Member States into three groups, in line with the degree of national economic development and the scope of electricity consumption in their economy sectors. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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18 pages, 973 KiB

Open AccessArticle

The Development of Electromobility in the European Union: Evidence from Poland and Cross-Country Comparisons

by Marcin Łuszczyk, Adam Sulich, Barbara Siuta-Tokarska, Tomasz Zema and Agnieszka Thier

Energies 2021, 14(24), 8247; https://doi.org/10.3390/en14248247 - 08 Dec 2021

Cited by 20 | Viewed by 2875

Abstract

The article presents the current situation with the implementation of electric cars in Poland against the background of pan-European trends and the current energy sector condition in Poland. The aim of the study was to show the ecological, economic, social, and technical difficulties [...] Read more.

The article presents the current situation with the implementation of electric cars in Poland against the background of pan-European trends and the current energy sector condition in Poland. The aim of the study was to show the ecological, economic, social, and technical difficulties and controversies related to the use of electric cars in Poland. The authors used statistical analysis and identified the main factors of electromobility development in Poland. Despite the declared electromobility in the Strategy of Responsible Development program, the degree of its implementation is far from the previously established goals. The article analyzes the feasibility of the above plan and indicates the factors inhibiting the development of electromobility in Poland. The strategy and decisions to further implement electric cars cannot be purely political. In justifying the need to promote the use of electric cars in Poland, one should take into account the specificity of the Polish economy, its energy system, the condition of its infrastructure, and real social needs. The authors formulated a hypothesis that the aforementioned program is based on simplistic assumptions and marginalizes or ignores significant barriers to the development of electricity-based transport in Poland. The successful implementation of that program is conditioned by comprehensive and costly activities aimed to transform the whole energy system and introduce an effective system of incentives for the buyers of electric cars. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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32 pages, 786 KiB

Open AccessArticle

Organizational Culture as a Prerequisite for Knowledge Transfer among IT Professionals: The Case of Energy Companies

by Anna Pietruszka-Ortyl, Małgorzata Ćwiek, Bernard Ziębicki and Anna Wójcik-Karpacz

Energies 2021, 14(23), 8139; https://doi.org/10.3390/en14238139 - 04 Dec 2021

Cited by 9 | Viewed by 2709

Abstract

The energy sector is the epitome of Industry 4.0; therefore, it should be developed in line with the Industry 4.0 implementation framework and be managed according to the guidelines dedicated to knowledge-based enterprises. Under this model of evolution, the layers surrounding the technological [...] Read more.

The energy sector is the epitome of Industry 4.0; therefore, it should be developed in line with the Industry 4.0 implementation framework and be managed according to the guidelines dedicated to knowledge-based enterprises. Under this model of evolution, the layers surrounding the technological aspects are first, knowledge management (in particular, its transfer), and then people, and culture. This study addresses two of the three identified levels by attempting to verify the organizational culture that supports professional knowledge transfer as the leading factor in effective specialist knowledge exchange in the energy sector. Recently, this sector has become highly dependent on IT solutions as the main factor for its development and security. A key role in this respect is played by IT professionals, whose attitudes and employee behavior are critical to the stability, efficiency, effectiveness, and security of IT systems in the energy companies. The purpose of this paper is to propose a theoretical construct, based on indicated norms and values as organizational culture foundation and cultural practices. This article also aims to analyze and diagnose the components that support the professional knowledge transfer in different groups of organizational stakeholders. Systematic analysis of the scientific literature, expert evaluation, and structured questionnaires were used to develop and verify the hypotheses. The research results supported the hypotheses that organizational culture tailored to the knowledge workers’ needs and expectations, influence the effective and efficient circulation of IT expert knowledge. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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18 pages, 653 KiB

Open AccessArticle

Digital Technology Platforms as an Innovative Tool for the Implementation of Renewable Energy Sources

by Krzysztof Bartczak

Energies 2021, 14(23), 7877; https://doi.org/10.3390/en14237877 - 24 Nov 2021

Cited by 7 | Viewed by 1995

Abstract

The subject matter addressed in the paper concerns digital technology platforms in the context of renewable energy sources. The main goal is to check whether digital technology platforms can be effective factors in implementing innovative business models in the RES sector. The study [...] Read more.

The subject matter addressed in the paper concerns digital technology platforms in the context of renewable energy sources. The main goal is to check whether digital technology platforms can be effective factors in implementing innovative business models in the RES sector. The study was based on empirical research using Computer-Assisted Telephone Interview (CATI) and Computer-Assisted Web Interview (CAWI) methods, as well as on a model of attitudes towards digital technology platforms (DTPs) built using CATREG (categorical regression) analysis. As a result of the research, it was found that digital technology platforms contribute to building innovative business models. The decisive influence on this is a number of benefits for enterprises and consumers (and the related factor is the most important when it comes to attitudes towards DTP), as well as the high interest in digital RES platforms. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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25 pages, 1952 KiB

Open AccessArticle

R&D Spending in the Energy Sector and Achieving the Goal of Climate Neutrality

by Małgorzata K. Guzowska, Barbara Kryk, Dorota Michalak and Paulina Szyja

Energies 2021, 14(23), 7875; https://doi.org/10.3390/en14237875 - 24 Nov 2021

Cited by 7 | Viewed by 2103

Abstract

Research and development (R&D) spending in the energy sector, which is aimed at exploring ways to reduce greenhouse gas emissions, among other things, plays a vital role in achieving the goal of climate neutrality. The purpose of this paper is to assess the [...] Read more.

Research and development (R&D) spending in the energy sector, which is aimed at exploring ways to reduce greenhouse gas emissions, among other things, plays a vital role in achieving the goal of climate neutrality. The purpose of this paper is to assess the environmental performance of R&D spending in the energy sector of selected EU member states from 2011–2017/2019, and to compare the results. Taxonomic research with the zero unitarization method was used, which enabled a synthetic assessment of EU countries according to the environmental performance of the total spending in the energy sector and an analysis of the changes in performance for six categories of spending in this area. The assessment of changes in the environmental performance of individual categories of R&D spending over time using the applied method was an added value compared with the assessment methods previously used in this area. The study found that there were significant differences in the level of environmental efficiency of R&D expenditures in the energy sector between countries, changes in environmental efficiency in most of the countries studied were not satisfactory, the most environmentally efficient expenditures were on renewable energy, other power and storage, hydro and fuel cell technologies, and the least on fossil fuels and nuclear energy. The results reflected both the member states’ progress towards climate neutrality and the discussion on the environmental performance of the means and directions of actions aimed at this. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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20 pages, 974 KiB

Open AccessArticle

Determinants of Energy Efficient Innovation: A Systematic Literature Review

by Paulius Šūmakaris, Renata Korsakienė and Deniss Ščeulovs

Energies 2021, 14(22), 7777; https://doi.org/10.3390/en14227777 - 19 Nov 2021

Cited by 11 | Viewed by 2066

Abstract

Engaging firms to generate and adopt energy efficient innovation is crucial for balancing energy needs for sustainable development. In addition, a reduction in energy consumption can address environmental problems and lower production costs by reducing materials and/or energy costs and costs related to [...] Read more.

Engaging firms to generate and adopt energy efficient innovation is crucial for balancing energy needs for sustainable development. In addition, a reduction in energy consumption can address environmental problems and lower production costs by reducing materials and/or energy costs and costs related to compliance with regulations. Considering the lack of systematic reviews focused on the determinants of energy efficient innovation, we address this gap and set forth to enhance the body of knowledge in the field of energy efficient innovation. To achieve the research aim, a systematic literature review and qualitative content analysis were conducted. This study offers two contributions. First, the study distinguishes the determinants of energy efficient innovation in three levels: micro-level, meso-level, and macro-level. According to the findings, the following determinants of energy efficient innovation are highlighted at the micro-level: (1) cost savings; (2) previous experience; (3) technological capabilities; (4) green capabilities; (5) innovation capabilities; (6) knowledge development; (7) organizational innovations; (8) financial resources; (9) investment in tangible assets. Meanwhile, the determinants are distinguished at the meso-level: (1) competitive pressure; (2) customer and provider pressure; (3) external knowledge cooperation; (4) social pressure; (5) voluntary agreements. Finally, the determinants are disclosed at the macro-level: (1) government subsidies; (2) current or future regulation. Second, the study provides insights on the determinants of energy efficient innovation and sets an agenda for future research. The study demonstrates the need for further investigations on the drivers of energy efficient innovation as compared to general eco-innovation. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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25 pages, 1066 KiB

Open AccessArticle

The Impact of Corporate Governance on the Capital Structure of Companies from the Energy Industry. The Case of Poland

by Barbara Grabinska, Marcin Kedzior, Dorota Kedzior and Konrad Grabinski

Energies 2021, 14(21), 7412; https://doi.org/10.3390/en14217412 - 07 Nov 2021

Cited by 13 | Viewed by 3383

Abstract

The energy sector is expected to face fundamental challenges in the near future. On the one hand, it is experiencing a rapidly increasing demand for energy. At the same time, it is subject to the pressure of the climate policy due to environmental [...] Read more.

The energy sector is expected to face fundamental challenges in the near future. On the one hand, it is experiencing a rapidly increasing demand for energy. At the same time, it is subject to the pressure of the climate policy due to environmental issues. For the same reason, the energy sector is forced to undertake costly investments to transform production from black to green energy. The issue of financing has become one of the key problems of the energy sector, especially in those countries in which energy production traditionally is based on fossil fuels, i.e., coal. The paper aims to investigate the impact of corporate governance on the capital structure of companies from the energy industry. We use three proxies of corporate governance quality: institutional investors, the board size, and state ownership and investigate their impact on capital structure. Our findings suggest that the latter two negatively impact debt levels. In our model, we control for financial factors and CEO personal characteristics. We use a Polish setting since transformational problems of the energy sector in Poland are especially visible. At the same time, energy companies in Poland are subject to the strict EU climate policy. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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21 pages, 329 KiB

Open AccessArticle

Employer Expectations Regarding the Competencies of Employees on the Energy Market in Poland

by Robert Szydło, Sylwia Wiśniewska, Małgorzata Tyrańska, Anna Dolot, Urszula Bukowska and Marek Koczyński

Energies 2021, 14(21), 7233; https://doi.org/10.3390/en14217233 - 02 Nov 2021

Cited by 2 | Viewed by 1725

Abstract

It is because of competencies that there is a possibility of ensuring the strategic safety of each country when it comes to energy security. With the vast development of IT and teamwork, there are various competencies needed in the whole energy sector. The [...] Read more.

It is because of competencies that there is a possibility of ensuring the strategic safety of each country when it comes to energy security. With the vast development of IT and teamwork, there are various competencies needed in the whole energy sector. The aim of this study is to assess the needs of competencies in the Polish energy labor market as well as the trends among hard ad soft skills also in the context of renewable energy sources. Within an exploratory approach, 245 job advertisements were analyzed using various tools, including general descriptive statistics, Shapiro-Wilk, Kruskal–Wallis H and Mann–Whitney U tests, as well as Spearman’s Rho. The research confirmed that teamwork and MS Office are crucial demands of employers. It is also important that the market is diverse when it comes to competence demands, but soft skills are needed in every position, even purely technical ones. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

18 pages, 1666 KiB

Open AccessArticle

Coopetitive Platform: Common Benefits in Electricity and Gas Distribution

by Wojciech Czakon, Karolina Mucha-Kuś and Maciej Sołtysik

Energies 2021, 14(21), 7113; https://doi.org/10.3390/en14217113 - 01 Nov 2021

Cited by 11 | Viewed by 1999

Abstract

Simultaneous collaboration and competition, or coopetition, has so far been studied among firms or non-profit organizations, leaving the public arena largely unexplored. This study focuses on identifying and measuring common benefit generation by local government actors in coopetition. We purposefully choose a metropolis [...] Read more.

Simultaneous collaboration and competition, or coopetition, has so far been studied among firms or non-profit organizations, leaving the public arena largely unexplored. This study focuses on identifying and measuring common benefit generation by local government actors in coopetition. We purposefully choose a metropolis composed of 41 municipalities setting to identify and measure those effects of coopetition that cannot be achieved by individual actors alone. We use real data and tariffs to run simulations that identify common and individual benefits generated in gas and electricity distribution. We find that savings can be achieved by mutualizing energy procurement, even though the distribution of savings is not equal among municipalities. We substantiate that energy communities can act as coopetitive platforms to optimize energy costs of municipalities. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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23 pages, 4730 KiB

Open AccessArticle

The Morphology and Differentiation of the Content of International Debate on Renewable Energy. A Bibliometric Analysis of Web of Science, Scopus, and Twitter

by Katarzyna Sanak-Kosmowska and Jan W. Wiktor

Energies 2021, 14(21), 7094; https://doi.org/10.3390/en14217094 - 30 Oct 2021

Cited by 2 | Viewed by 1878

Abstract

This paper aims to identify a bibliometric profile, presenting the results of research and debates in social media on renewable energy sources (RES). It analyses current scientific publications (2019–2021) and tweets posted in July 2021 by international Twitter users. The subject of the [...] Read more.

This paper aims to identify a bibliometric profile, presenting the results of research and debates in social media on renewable energy sources (RES). It analyses current scientific publications (2019–2021) and tweets posted in July 2021 by international Twitter users. The subject of the study is an analysis of key words in articles, the results of research, and the content of tweets (hashtags #renewables) related to renewable energy (RE) as well as an assessment of the morphology of content and the degree of its differentiation in the analysed data resources. The conducted analysis facilitates an assessment of similarities of key words in scientific papers and the content of debates in social media—on Twitter, a global platform. In its methodological dimension, the work is based on a bibliometric analysis (articles in both bases) and the analysis of Twitter data. This methodological approach allows for identifying the main trend, profile, and bibliometric characteristics of scientific papers representing two streams of information: articles in bases and the content (hashtags) of authentic and unguided international debates on Twitter. The focus on this platform results from a great popularity of social media as a platform for social debate, expressing comments and opinions and providing an opportunity to gain understanding of social, cultural, and environmental issues related to renewable energy sources from the perspective of social media participants. The objective of the paper and the proposed methodological approach relates to a knowledge gap in the area of renewable energy, and, more specifically, climate change and sustainable development. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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20 pages, 1061 KiB

Open AccessArticle

Improving the Process of Developing New Services Using Uncertain Data

by Ilona Skačkauskienė and Povilas Švogžlys

Energies 2021, 14(16), 5086; https://doi.org/10.3390/en14165086 - 18 Aug 2021

Cited by 1 | Viewed by 1455

Abstract

The rapid changes in the services sector encourage companies to improve the processes for developing and delivering new services. An effective new service development process is not possible without planning. Business entities can plan their time, organise activities, and prioritise tasks according to [...] Read more.

The rapid changes in the services sector encourage companies to improve the processes for developing and delivering new services. An effective new service development process is not possible without planning. Business entities can plan their time, organise activities, and prioritise tasks according to the complexity or the total duration of the process. However, in the context of new service development, the planning aspect is still not sufficiently emphasised. It is noted that the aim is often to identify the factors that could reduce the duration of this process. However, there is a lack of relevant data based on certain expressions of time. The lack of such research limits the improvement of the planning processes for new service development projects. In order to evaluate the possibilities of application of the proposed new service development model for companies providing services, an empirical evaluation was conducted, using methods of expert survey, program evaluation and review, and Monte Carlo simulation. Guidelines for further research were formulated based on the obtained results. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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17 pages, 710 KiB

Open AccessArticle

Solar Power: Stellar Profit or Astronomic Cost? A Case Study of Photovoltaic Installations under Poland’s National Prosumer Policy in 2016–2020

by Anna Szeląg-Sikora, Jakub Sikora, Marcin Niemiec, Zofia Gródek-Szostak, Marcin Suder, Maciej Kuboń, Tomasz Borkowski and Gabriela Malik

Energies 2021, 14(14), 4233; https://doi.org/10.3390/en14144233 - 13 Jul 2021

Cited by 8 | Viewed by 2295

Abstract

In Poland, the development of photovoltaic (PV) installations is an important element in the development of the Renewable Energy Sources (RES) sector and supports the prosumer power industry. The purpose of the article is to present a case study of the PROSUMENT program. [...] Read more.

In Poland, the development of photovoltaic (PV) installations is an important element in the development of the Renewable Energy Sources (RES) sector and supports the prosumer power industry. The purpose of the article is to present a case study of the PROSUMENT program. It analyzes the data available to date on the development of the PV market in Poland. Apart from the costs of installing the PV systems, the article analyzes the profitability of investment for different micro-power installation capacities. A calculation for micro-power installations subsidized under the PROSUMENT program for various PV capacities is presented, along with the actual amount of the subsidy. The adopted calculation methodology is a comparative verification analysis of the investment cost estimate for a for the two studied PV facilities, i.e., Micro-power installation 1 and Micro-power installation 2. The building’s annual energy demand was adopted at the same level for both examples, with fixed active energy and distribution fees. The study includes a cost estimate for installing the PV systems and the profitability of the investments for various micro-power installation capacities. The analysis of the subsidy under the PROSUMENT program demonstrated that, in the analyzed period of 2016–2020, the best results were achieved by investments with a capacity of 10 kWp. In terms of the net subsidy value, the best results ranged between 27.20 and 19.10% of the total investment costs. Development of the Polish prosumer power market requires building public awareness of prosumer power production as an opportunity for the growth of the Polish economy. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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22 pages, 2025 KiB

Open AccessArticle

Evaluation of Sustainable Energy Development Progress in EU Member States in the Context of Building Renovation

by Rita Remeikienė, Ligita Gasparėnienė, Aleksandra Fedajev, Marek Szarucki, Marija Đekić and Jolita Razumienė

Energies 2021, 14(14), 4209; https://doi.org/10.3390/en14144209 - 12 Jul 2021

Cited by 16 | Viewed by 2285

Abstract

The main goal of setting energy efficiency priorities is to find ways to reduce energy consumption without harming consumers and the environment. The renovation of buildings can be considered one of the main aspects of energy efficiency in the European Union (EU). In [...] Read more.

The main goal of setting energy efficiency priorities is to find ways to reduce energy consumption without harming consumers and the environment. The renovation of buildings can be considered one of the main aspects of energy efficiency in the European Union (EU). In the EU, only 5% of the renovation projects have been able to yield energy-saving at the deep renovation level. No other study has thus far ranked the EU member states according to achieved results in terms of increased usage in renewable sources, a decrease in energy usage and import, and reduction in harmful gas emissions due to energy usage. The main purpose of this article is to perform a comparative analysis of EU economies according to selected indicators related to the usage of renewable resources, energy efficiency, and emissions of harmful gasses as a result of energy usage. The methodological contribution of our study is related to developing a complex and robust research method for investment efficiency assessment allowing the study of three groups of indicators related to the usage of renewable energy sources, energy efficiency, and ecological aspects of energy. It was based on the PROMETHEE II method and allows testing it in other time periods, as well as modifying it for research purposes. The EU member states were categorized by such criteria as energy from renewables and biofuels, final energy consumption from renewables and biofuels, gross electricity generation from renewables and biofuels and import dependency, and usage of renewables and biofuels for heating and cooling. The results of energy per unit of Gross Domestic Product (GDP), Greenhouse gasses (GHG) emissions per million inhabitants (ECO2), energy per capita, the share of CO₂ emissions from public electricity, and heat production from total CO₂ emissions revealed that Latvia, Sweden, Portugal, Croatia, Austria, Lithuania, Romania, Denmark, and Finland are the nine most advanced countries in the area under consideration. In the group of the most advanced countries, energy consumption from renewables and biofuels is higher than the EU average. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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18 pages, 4809 KiB

Open AccessArticle

The Use of Hierarchical Agglomeration Methods in Assessing the Polish Energy Market

by Anna Bluszcz and Anna Manowska

Energies 2021, 14(13), 3958; https://doi.org/10.3390/en14133958 - 01 Jul 2021

Cited by 13 | Viewed by 2162

Abstract

Energy markets play an important role in achieving sustainable development goals. The sector of energy has a huge impact on the environment, hence changes in it are the highest priority in the European Union. The process of shaping and developing the internal energy [...] Read more.

Energy markets play an important role in achieving sustainable development goals. The sector of energy has a huge impact on the environment, hence changes in it are the highest priority in the European Union. The process of shaping and developing the internal energy market plays an important role in improving the security of supply of energy resources for the entire union. It requires a number of political negotiations, strategic decisions regarding energy liberalization, in particular, the electricity and gas sectors, as well as the adoption of sectoral legislation. The aim of the conducted research is to estimate the level of development of energy markets in the EU countries and to indicate the position of Poland in comparison to other countries. The research was performed in several stages. The first phase consisted of selecting appropriate diagnostic variables that comprehensively describe energy markets in countries belonging to the European Union. The next stage was collecting data, subjecting them to standardization, and then, based on the agglomeration algorithm, the process of dividing into groups of similar countries was carried out. The research results can be used as guidelines for legal regulations being prepared in the energy sectors of all member states, which can be used for selected clusters comprising similar countries in terms of the development of energy markets. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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16 pages, 1620 KiB

Open AccessArticle

Changing Energy Supplier on the Market with a Strong Position of Incumbent Suppliers—Polish Example

by Dariusz Dudek, Marcin Lipowski and Ilona Bondos

Energies 2021, 14(13), 3933; https://doi.org/10.3390/en14133933 - 30 Jun 2021

Cited by 1 | Viewed by 1884

Abstract

The purpose of the study is to identify factors affecting the intention to change an energy supplier. This is in a country, Poland, where competition in the energy market has been intensifying over several years, but incumbent suppliers still have an extremely strong [...] Read more.

The purpose of the study is to identify factors affecting the intention to change an energy supplier. This is in a country, Poland, where competition in the energy market has been intensifying over several years, but incumbent suppliers still have an extremely strong position on the market, and the tendency to change an energy supplier is relatively low. The survey was conducted in 2020 on a sample of 1216 adults. The research results were used for a multigroup SEM (Structural Equation Modelling) analysis using AMOS 26. The main findings indicated a strong impact on a general image of a company, as well as the lack of importance of a green image of the current energy supplier. In the general research approach, there are no visible differences in the impact of the perceived price transparency on the intention to switch the supplier. However, taking into consideration two groups (a low energy bill vs. a high energy bill), some interesting differences are visible. In the markets with low consumers’ intention to switch, the strong position of incumbent suppliers is due to their exceptionally strong image in these markets. Spending time on maintenance is the biggest disadvantage for new energy suppliers who, when entering the market, have to look for differentiators. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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20 pages, 1011 KiB

Open AccessArticle

Why Do Consumers Choose Photovoltaic Panels? Identification of the Factors Influencing Consumers’ Choice Behavior regarding Photovoltaic Panel Installations

by Magdalena Grębosz-Krawczyk, Agnieszka Zakrzewska-Bielawska, Beata Glinka and Aldona Glińska-Neweś

Energies 2021, 14(9), 2674; https://doi.org/10.3390/en14092674 - 06 May 2021

Cited by 29 | Viewed by 4065

Abstract

Renewable energy sources help in decreasing negative environmental impacts and in reducing energy-import dependency. Among all renewable energy segments, photovoltaic panel (PV) installations are one of the fastest-growing. Growing concern about climate change, as well as public policies promoting the development of PV [...] Read more.

Renewable energy sources help in decreasing negative environmental impacts and in reducing energy-import dependency. Among all renewable energy segments, photovoltaic panel (PV) installations are one of the fastest-growing. Growing concern about climate change, as well as public policies promoting the development of PV installations, have changed consumers’ behaviors and attitudes. This study uses the theory of consumption values to identify factors influencing consumers’ choice behavior regarding photovoltaic panel installations. There is little research on consumers’ perception of value related to green energy in Poland, especially in the case of photovoltaic panels. We fill this cognitive gap by testing an extended green consumption values model that includes functional, social, emotional, conditional, epistemic, and environmental values. The research was conducted on 250 Polish consumers using a self-administered questionnaire as the research tool. The results of structural equation modeling showed that only functional value and environmental value had a positive impact on consumers’ choice behavior toward photovoltaic panels. Photovoltaic panel installations are an important investment for Polish households; however, our research results showed that consumers are able to pay for high quality, environmental protection, and future savings. Individuals’ environmentally positive attitude related to environmental concern, environmental knowledge, and responsibility was the strongest determinant of adopting photovoltaic panel installations. New findings concerning Polish consumers’ behaviors can provide references for other countries, especially in Central and Eastern Europe. Our results can be useful for marketing managers and policy marketers in developing strategies concerning the successful promotion of the installation of photovoltaic panels in European countries. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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18 pages, 1827 KiB

Open AccessArticle

Supplying Energy to Vulnerable Segments of the Population: Macro-Financial Risks and Public Welfare

by Elena Smirnova, Katarzyna Szczepańska-Woszczyna, Saltanat Yessetova, Vadim Samusenkov and Rodion Rogulin

Energies 2021, 14(7), 1834; https://doi.org/10.3390/en14071834 - 25 Mar 2021

Cited by 7 | Viewed by 2103

Abstract

The purpose of the study is to assess the level of energy supply to the population of the Eastern Europe, Caucasus, and Central Asian (EECCA) countries, taking into account their financial risk and energy efficiency for households as potential socially vulnerable consumers. The [...] Read more.

The purpose of the study is to assess the level of energy supply to the population of the Eastern Europe, Caucasus, and Central Asian (EECCA) countries, taking into account their financial risk and energy efficiency for households as potential socially vulnerable consumers. The research methodology is based on three approaches to determining the energy poverty of the population, as well as the integral index of energy supply to socially vulnerable segments of the population. Based on the results of the three approaches to assessing the level of energy supply to the population of EECCA countries, it has been revealed that its critical indicators are found in Armenia, Georgia, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, and Ukraine. The multivariate analysis of variance has revealed that, in all EECCA countries, both financial risk and energy efficiency levels have a significant impact. In Azerbaijan, Kazakhstan, and Russia, financial risk has the greatest impact on the level of energy supply to socially vulnerable segments of the population, while in other EECCA countries the energy efficiency factor has the strongest impact. In a number of EECCA countries, households have poor energy supply and require efficient and reliable operation, the introduction of energy-efficient technologies for home maintenance, and the improvement of related programs. The novelty of this study lies in the proposed methodological approach to assessing the supply of energy resources to socially unprotected segments of the population, which makes it possible to determine the impact of financial risk and energy efficiency in EECCA countries. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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18 pages, 646 KiB

Open AccessArticle

Global Oil Price and Innovation for Sustainability: The Impact of R&D Spending, Oil Price and Oil Price Volatility on GHG Emissions

by Elyas Abdulahi Mohamued, Masood Ahmed, Paula Pypłacz, Katarzyna Liczmańska-Kopcewicz and Muhammad Asif Khan

Energies 2021, 14(6), 1757; https://doi.org/10.3390/en14061757 - 22 Mar 2021

Cited by 48 | Viewed by 3472

Abstract

Recently, sustainable economic growth has taken the front line of the global development agenda. The common dependency on fossil fuel energy, greenhouse gas (GHG) emissions and the continuous rising demands for energy have posed challenges that put the world in a climate change [...] Read more.

Recently, sustainable economic growth has taken the front line of the global development agenda. The common dependency on fossil fuel energy, greenhouse gas (GHG) emissions and the continuous rising demands for energy have posed challenges that put the world in a climate change trap. This work empirically analyzes the effect of innovation, oil price, oil price volatility and economic growth on GHG emissions over the period of 1991–2015. The study compares the emission level between European Union countries (EU) (26), oil-producing countries (22), China and the United States of America (USA) using the Driscoll–Kraay model. The main empirical finding points to a positive effect of innovation on GHG emission reduction initiatives in oil-importing economies. Particularly, EU countries significantly minimized emissions due to innovation, followed by China and the USA. Contrarily, the effect of innovation increases GHG emission in oil-exporting economies. The results also indicate broader significant effects of oil price and oil price volatility on GHG emission. Interestingly, the effect of oil price on GHG emission is asymmetrical between oil-exporting and -importing economies. Oil price increases in oil-importing countries decrease GHG emission; contrarily, its effect increases emissions in oil-exporting countries. Thus, oil-exporting countries lack motivation to decrease emission levels due to oil price escalation. Unlike the oil price, oil price volatility comparably decreases GHG emissions in oil-exporting and -importing economies. Thus, one might be tempted to take oil price volatility and the future uncertainty of oil price as a virtuous instance rather than oil price increment. Thus, policymakers need to pay attention to market forces and policy measures to monitor GHG emissions due to economic activities. The results are also robust under the alternative econometrics estimation model of generalized method of moments (GMM)-Differenced. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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21 pages, 1752 KiB

Open AccessReview

A Comprehensive Review of Research Approaches in the Energy Sector: A Management Sciences Perspective

by Marek Szarucki, Radosław Rybkowski, Justyna Bugaj and Klaudia Bracio

Energies 2022, 15(22), 8495; https://doi.org/10.3390/en15228495 - 14 Nov 2022

Cited by 3 | Viewed by 1572

Abstract

The energy sector plays a crucial role in addressing the global challenges of achieving sustainability by using renewable energy sources as well as by increasing energy efficiency and conservation while gaining energy security and safety. Choosing an appropriate research method to investigate the [...] Read more.

The energy sector plays a crucial role in addressing the global challenges of achieving sustainability by using renewable energy sources as well as by increasing energy efficiency and conservation while gaining energy security and safety. Choosing an appropriate research method to investigate the energy sector’s management has become more complex, involving multiple factors such as technical, environmental, social, political and economic. Additionally, considering the important role of energy in modern society, it is imperative to study the current methods used in examining the energy sector and to create an appropriate theory of the managing energy sector enterprises in the future. The main purpose of this review paper is to explore which research methods and approaches are utilized by researchers studying the issues of the managing energy sector enterprises. This article presents a systematic review based on a qualitative synthesis of the accessible publications from the Scopus database. In this review, which also adhered to strict search and filter criteria, a total of 77 articles were selected and synthesized. The selected papers met the inclusion criteria and a bibliometric visualization approach was applied using MAXQDA2020 software. The present paper reveals existing research trends in utilizing various research approaches in the energy sector from the perspective of management sciences in the last ten years and also provides future research avenues in the discussed area of knowledge. Full article

(This article belongs to the Special Issue Managing Energy Sector Enterprises: Challenges, Methods and Research Trends)

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