Energy Sector In Poland Research Articles

European Projects of Common Interest: Impact on Fuel and Energy Markets in Poland

Abstract Projects of common interest are projects serving the implementation of priority corridors and areas of energy infrastructure, mainly trans-European electricity, gas and oil transmission networks in order to reduce the European Union’s energy dependence. They also help strengthen the energy security of individual countries, including Poland. The article aims at reviewing projects and assessing an impact on domestic markets in the context of the challenges of the fuel and energy sector in Poland. The article is an analytical study, in the “desk research” formula. Research methods used during the elaboration of the research include the analysis of national and EU strategic documents and the subject matter of energy security. In order to evaluate the impact of the implementation of projects of common interest on a variety of supplies of a member country (Poland), an exemplary assessment of the diversification status is presented using Hirschman-Herfindahl concentration index for gas supplies.

Financial liquidity management in energy sector in Poland

Liquidity comprises one of the most important indicators of an enterprise’s financial situation and proper operation. Dynamic liquidity understood as an ability to generate cash flow constitutes an interesting issue in the area of managing finances related with taking managerial decisions in the following areas: operational, investment and financial. The aim of the article is to identify cash flow in a managerial perspective for the purposes of taking decisions with regard to developing liquidity and indicating determinants thereof in the energy sector, in Poland. Formulas of setting cash flows for the owner (FCFE) and for all funding parties (FCFF) have been shown and their calculation has been presented with an example of selected energy enterprises listed on the Stock Exchange in Warsaw.

The Formation Of Organizational Culture In The Aspect Of Lean Management Principles In The Energy Industry

Nowadays, the aspect of Lean Management is a very fashionable trend of reorganizing the work of production processes, but also in management processes. It affects the approach to work, its quality, cost-effectiveness and the organization itself. The classic understanding of Lean Management comes from Japan (Toyota Motor Corporation). The aim of Toyoda was to eliminate flaws and wastage in the production process [1]. Ohno, who identified seven types of muda (waste) [2]- widely described in the Lean literature continued the elimination of waste in the processes. Analyzing the organization and its organizational culture it is clear that the enterprises of the energy sector in Poland are undergoing transformation. Organizational behaviour is increasingly observed to improve the external and internal image of the company. Guidelines and basic elements shaping the organizational culture more and more often for the managerial staff are a basic tool of work. It is important because that, the Liker [3] added the eighth type of muda - untapped creativity of employees, understood as the loss of time, ideas, skills, improvements and learning opportunities due to the fact that employees are not involved or do not listen to them. In the energy industry, which is highly specific in its functioning, the simple implementation of the principles and classical understanding of Lean may prove to be ineffective. Especially in the technical and technological aspects, where considering the long investment time, rigid modelling of processes, only few paths of process optimization, it is difficult to effectively change and modify Lean Management or Lean Manufacturing. However, it is not advisable to stop thinking about Lean in the energy industry. According to specialists[4], Lean methodologies and principles should be implemented, especially in the areas of maintenance, production and supervision, logistics, administration or sales and customer service. Transformation of the organizational culture to such a character that has Lean in its foundations needs number of actions. This article will present a concept designed to transform the organizational culture of energy companies in Poland.

Selected technical aspects of well construction for geothermal energy utilization in Poland

Abstract Geothermal resources have been used in Poland since the 90s of the last century. Since then, several geothermal heating plants, recreation and balneological centers have been operated. Accessing geothermal resources is possible due to deep boreholes that are either brand-new wells or old but revitalized petroleum and/or exploratory wells. In this case, the construction of production and injection wells is of significant importance. The utilization of deep geothermal energy resources is strongly dependent on the binding domestic law regulations – primarily in case of acquiring the concession enabling an execution of geological and drilling works, and subsequently a proper exploitation. The paper presents the current state of development of the geothermal energy sector in Poland, indicating examples of exploitation systems based on deep boreholes. Furthermore, the constructions of existing wells are discussed extensively. The existing examples of old but reconstructed wells in Poland, are characterized. The importance of national law and its influence on the development of a geothermal investment is highlighted, as well.

Integrated report as a source of information about the company's approach to risk management

The article presents the assessment of the integrated report as a tool for reporting on company risk mana- gement and answers the question whether and how this form of reporting has affected the scope of infor- mation on risk management. The article is an attempt at a comprehensive approach to assessing disclosu- res about risk management. The assessment was made by comparing the information content of annual reports, with particular emphasis on management commentaries and integrated reports. The text analysis method and the Delphi method were used. The research sample included annual reports and two integra- ted reports for 2016 of companies operating in the energy sector in Poland. The research indicates that more precise risk information is presented in integrated reports than in „traditional” ones. There are also differences in the level of disclosures between the examined integrated reports.

Bankruptcy prediction models as a source of assessment of the company’s financial situation

Aim: The aim of the work is to make an attempt at matching an appropriate discriminatory model to companies in the Polish energy sector in 2013-2015. Design/Research methods: The unitary financial statements of five companies from the energy sector in Poland over the period of 2013-2015 were studied. Following the example of practical calculations, the effects and result of the methods used were presented. Conclusions / findings: Assigning accurately a particular model to the whole energy industry is not possible, as there has not been any research so far that would allow for matching bankruptcy prediction models to specific industries and enterprises. When assessing the risk of failure, taking into account just one model is not sufficient. Originality / value of the article: Demonstration of many methodical problems that require further research in order to find optimal methods for matching discriminatory models to specific market segments. Key words: discriminatory models, bankruptcy of the company, financial situation. JEL: G01,G11,G17

Decarbonisation perspectives for the Polish economy

In the coming decades the energy sector in Poland will undergo a substantial transition towards low carbon usage, which will have a predominant impact on the economy. Several modernization scenarios for energy policy are currently being discussed by the government and not yet concluded. The main objective of this paper is to provide a tool that allows to simulate such scenarios and to show the impact of decarbonisation on the whole economy. We propose an intertemporal hybrid general equilibrium modeling that incorporates energy technologies (bottom-up approach) directly into a macroeconomic structure (top-down approach). By accounting for wide adjustments in the economy, while controlling for all major constraints, the model gives a unique and detailed insight into the future shape of the energy sector and prospects of low carbon economy in Poland. Our simulation results suggest that there are no free lunches. No realistic energy mix allows to achieve sustainable positive economic growth when considerable emission reduction is to be achieved. The price on CO2 will exceed EUR 100 for 30% emission reduction with respect to business-as-usual scenario. Gradual phase-out of coal requires focusing on biomass technology (the first best), nuclear and wind power (the second best).

Impact of key factors on expected development of onshore wind energy sector in Poland and development scenarios

The aim of the paper was to analyse the wind power market in Poland by reviewing the factors that shape and influence its current state and the possible development prospects. The paper was focused on legislative, environmental, manufacturing, sociocultural and economic factors. Barriers to the development of onshore wind power market and the expected development of wind energy in Poland in the years 2017-2020 were identified and measured based on a survey. The review of individual factors and the study performed present that legislative barriers and the introduction of the ‘distance act’ are factors with the biggest influence on the current stagnation of onshore wind energy sector. A review of the recommendations concerning the distance (from protected areas and housing) required to build wind farms set forth in literature shows that Poland is the only country with such harsh restrictions. With its good environmental conditions and technical capacities, Poland can become a European leader in the production of energy from wind. The only barrier is the legislative environment and political instability on the national level. Without improvements in this sector, there is no chance for new wind projects, as these factors are crucial for development of this type of energy.

The Role of Polish Coal in the National and European Energy Sector

PrefaceDear Ladies and Gentlemen,Between 19th and 21st of June 2017 in Andrychów (Poland) took place the national conference entitled ‘Role of Polish coal in the national and European energy sector’. The conference gathered over 120 participants and among them major figures from the mining and energy sector in Poland both from academia and industry. Poland with its largest hard coal mining reserves in European Union struggles with carbon emission limits which in the near future will cause a significant problem for the energy sector and as a consequence – to the mining industry. This meeting was a place of exchange of ideas and views on the future of energy and coal industry in Poland. The following subjects were within the scope of this meeting:• Brown and hard coal sector market analysis.• Energy market analysis.• Mining and energy sector development scenarios for Poland.• Mining and energy production costs.• Health and safety in mining industry.• Modern methods of power generation from coal.• Coal in the heating sector.• Energy storage.• Carbon capture and storage.The conference series is a result of selection of the most important articles. All articles were peer reviewed through process administrated by the Editors.

Clusters in the Renewable Energy Sector in Poland

The paper is a review work, which presents the problem of a renewable energy in Poland supplemented with a case study. To reduce gas emission and to improve energy efficiency the European Union’s Member States are obliged to obtain more energy from renewable sources. Our goal is to test how cluster may help in achieving the provisions of 3 x 20% package. The case study of Baltic Eco-Energy Cluster is presented as a successful example of the biggest energy cluster in the country, which can be treated as a benchmark for other sector clusters that are willing to contribute positively to changes in Polish energy sector.

Wind Energy in Poland - economic analysis of wind farm

Wind power generation is the most dynamically developing branch of renewable energy sector in Poland. The high price of coal and its negative environmental impact result in ever growing support for the renewable energy in the energy sector. Wind power industry produces clean energy, but costs of investments are very high. Process of creating a wind farm is very long and complicated. It requires the knowledge of many disciplines such as law, economics, energetic. The aim of this paper was study the state and the development of the wind power sector, especially wind farm in Poland. The economic analysis on investment in wind farm in Poland according to a new act on renewable energy sources was presented. The subject of this analysis was to estimate profitability of wind farm project 40 MW capacity. The analysis includes the comparison of various support systems - the system of green certificates and the new - auction model on the profitability of investment in wind farm. This aims to show how important is appropriate government support for producers of green energy words.

Operating Activities of Energy Companies in the Context of Crude Oil Risk and its Impact on the Polish Power Exchange

Different factors have significant impact on the development of the Polish Power Exchange and the volatility of electricity contracts prices, which are quoted on this part of energy market. The electricity prices are strongly influenced by such determinants as: the level of turnover volume, fuel prices, weather conditions, the CO2 emission allowance prices, political situation, the changeability of the energy demand level. The purpose of this paper is to examine and compare the volatility behaviour of world crude oil prices and electricity prices established on the Polish Power Exchange (POLPX) in the turbulent period, which covers the subprime financial crisis, geopolitical crisis, and changes in the rules of the European Union's energy policy. The background for the empirical research is a comparative analysis of business strategies of Polish energy companies and their adaptation to the factors that in the significant way influence the development of energy sector in Poland.

The study on the SWOT analysis of renewable energy sector on the example of the Pomorskie Voivodeship (Poland)

SWOT analysis of renewable energy in Poland on the example of Pomorskie Voivodeship has been described. The current state of and development prospects for renewable energy in the Pomorskie Voivodeship have been presented. In this region, there are 40 wind installations of total power of 424 MW, 108 hydropower plants of total power of 34 MW, one power plant co-firing biomass with coal. There is 102 million dm3/year of bio ethanol and 159 million dm3/year of biodiesel produced. There are five biogas plants located at municipal waste landfill sites and four biogas plants at sewage treatment works as well as nine agricultural biogas plants. A few hundred solar collectors and heat pumps have been installed in the Voivodeship. The conducted SWOT analysis shows that the further development of renewable energy sector in Poland is strongly depended form the following: the Act on renewable energy sources, simpler legal regulations, more effective financial support for new investments, introduction of guaranteed certificate prices, education of the public, and investors and decision-makers in the filed of renewable energy sector development.

Compressed air energy storage as backup generation capacity combined with wind energy sector in Poland - implementation possibilities

Compressed air energy storage as backup generation capacity combined with wind energy sector in Poland - implementation possibilities

Environmental charges levied on power plants

The aim of the article is to analyze the financial burden on energy sector in Poland resulting from charges on the use of the environment. The estimation of the amount of charges paid by the power plants is based on data on emissions of basic pollutants from this sector. The starting point for the analysis is the brief evaluation of the impact of Polish energy sector on the environment. The impact is quite significant due the fact that electricity generation is mainly based on solid fuels, such as hard coal and lignite. The environmental consequences of such energy production method are large emissions of gases and dust. During the electricity production process large amounts of waste are also generated (e.g. slag, ash). In addition, the energy sector extracts the water and discharges wastewater into the water or soil. The study shows that power plants pay all four kinds of charges for the use of the environment, such as air pollution charges, water abstraction charges, landfill charges and water pollution charges. Particularly important are charges for gases that are emitted into the atmosphere. The charges paid by the energy sector account for a significant proportion of revenues from charges on the use of the environment.

Small-Scale Renewable Energy Systems in the Development of Distributed Generation in Poland

Abstract Small-scale renewable energy systems in the context of the development of distributed generation, are discussed for the case of Poland. A distributed energy system is efficient, reliable and environmentally friendly, and is one of the most recent trends in the development of the energy sector in Poland. One of the important dimensions of this process is the creation of micro- and small-power producers based on renewable, locally-available energy sources. It is clear that the development of small-scale renewable energy producers takes place in two ways. One of these is through small hydropower plants, which are the aftermath of hydropower development in areas traditionally associated with water use for energy purposes (northern and western Poland). The second is through other renewable energy sources, mainly biogas and solar energy and located primarily in southern Poland, in highly urbanized areas (e.g. Śląskie Voivodship). In conclusion, the development of small-scale renewable energy systems in Poland is regarded as a good option with respect to sustainable development.

Recent developments in the wind energy sector in Poland

Abstract The article describes and analyzes developments in the wind energy sector in Poland in 2012–2013 in a broader perspective of the main features of the energy sector in Poland. It encompasses the building of new wind farms, changes of ownership in the sector, prospects for offshore wind farms and support scheme developments. The article points out the current biggest barriers to further development of the wind energy sector and its future trends.

Wind Powers Stations and Market Valuation

This study presents the results of research on the market valuation of wind power stations. The valuation of wind power station projects is an individualized process and there is a growing need for systematization of the valuation theory of wind power stations as specific structures. This will enable reliable reflection of their value at each stage of the investment process, possibly due to consideration for value standards sought by different entities interested in valuation. The theoretical part presents the conditions of the development of the analysed energy sector in Poland and provides the different value categories found in valuation practice, both during project implementation and after power plant start-up. Variation in wind power station project implementation phases was then indicated, recommending the discounted cash flow method as a universal valuation tool for each stage of the project life cycle.

The Modernization of the Energy Sector in Poland vs. Poland’s Energy Security / Modernizacja sektora energii w polsce a bezpieczeństwo energetyczne Polski

The paper discusses the essence of Poland’s energy security, decisive factors for its attainment and the structure of primary energy sources of the country. It describes the main problem areas in functioning of the energy sector in Poland, as well as the conditions for its modernization. The issues of increasing the natural gas share in the country’s structure of primary energy sources and a construction of the first nuclear power plant in Poland have been particularly emphasised. The paper stresses that without modernizing actions it will be impossible for Poland to fulfil international obligations concerning changes in the functioning of the energy sector. The study, analysing the conditions for increasing the role of natural gas in Poland, points at the necessity to expand the gas infrastructure, to increase a scale of gas production from domestic deposits and to complete liberalization of the energy industry. It also emphasises that a potential delay in the construction of the country’s first nuclear power plant may limit competitiveness of the economy.

Implementation of TPA (Third Party Access) principle in Polish energy sector

The liberalization of energy sector in Poland is conducted according to the conclusions deriving from the criticism of the traditional theory of regulation – the TPA principle is an instrument enabling introducing competition in energy trade subsector. However, in spite of formal assurance that the right to change electricity supplier is granted to all recipients, only a small number of entitled entities exercise this privilege. It is only the group of big industrial buyers among whom growing interest to exercise the TPA principle can be observed. The barriers to changing electricity supplier include economic, technical and formal ones. Removing them in the future will result in the increase of competition scale in energy sector.