Abstract
The household, industrial, and service sectors in Poland and the Baltic States have been facing ever-higher bills for their electricity consumption at a time when a number of them have been hit hard financially by the pandemic. Rising inflation, the border crisis—with its set of restrictions, or the spread of the fourth wave of the COVID-19 coronavirus pandemic, is causing strong concerns in the social and economic sphere, with significant increases in electricity prices. Many countries are implementing measures to reduce the adverse effects of rising electricity prices in response to this complex situation. The main orientation is towards obtaining energy from renewable sources, such as the sun. The current situation in the energy market determines the price per 1 KW. Among the countries under study, the price of electricity has increased the most in Poland. On the other hand, the development of the photovoltaic segment in Poland is undergoing a strong, upward trend. The above inspired the authors to explore the energy market situation in Poland and the Baltic States in the current economic conditions, along with an analysis of its development potential in light of the coronavirus pandemic. The main research problem of this study is an attempt to answer the question of what should be changed in the development of the renewable energy market in Poland, with particular emphasis on photovoltaics, to accelerate the process of reducing CO2 emissions, leading to a reduction in dramatically rising electricity prices. Which solutions implemented in the Baltic countries can inspire strengthening Poland’s energy market development?
Highlights
The household, industrial, and service sectors in Poland and the Baltic States have been facing ever-higher bills for their electricity consumption at a time when a number of them have been hit hard financially by the pandemic
In addition to actions in the regulatory sphere, affecting the price of electricity or the system of subsidies to the costs of its purchase, the system of actions related to the promotion of alternative formulas for obtaining electricity, oriented towards the modification of energy markets based on traditional sources to an energy economy based on renewable energy sources [1] is fundamental
The above is influenced by the situation of economies operating in pandemic realities and the increase in prices of energy raw materials; the changes in electricity prices in Poland and the Baltic States (Lithuania, Latvia, and Estonia) are differentiated in terms of their degree and direction
Summary
The household, industrial, and service sectors in Poland and the Baltic States have been facing ever-higher bills for their electricity consumption at a time when a number of them have been hit hard financially by the pandemic. In addition to actions in the regulatory sphere, affecting the price of electricity or the system of subsidies to the costs of its purchase, the system of actions related to the promotion of alternative formulas for obtaining electricity, oriented towards the modification of energy markets based on traditional sources (fossil fuels) to an energy economy based on renewable energy sources (wind energy, solar energy, geothermal energy, wave energy, current and tidal energy, energy from the fall of rivers, biomass energy) [1] is fundamental This seems to be an absolute necessity [2], and the support in the field of eco-installations (especially in the financial sphere) is an important impulse for taking up the challenges in this area. The context outlined above justifies the need to investigate the current situation of the energy market in Poland and in the Baltic countries as its stability directly translates into efficient functioning of entities in this area in the social [4] and economic [5] dimensions
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