Wyniki wyszukiwania - BazTech

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Impact of EU allowances cost on the financial results of polish power companies

Jerzemowska Magdalena, Krzywdziński Krzysztof

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2023

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z. 170

179--202

EN

Purpose: The aim of the article is to estimate the impact of the EU Allowances price increase on the financial results and return on investment in the portfolio of shares of four listed power companies, i.e., Enea S.A., Energa S.A., PGE Polska Grupa Energetyczna S.A., and TAURON Polska Energia S.A. Design/methodology/approach: Financial analysis of energy groups. Statistical analysis, a linear regression model with 6 independent variables and the dependent variable, i.e., the return on investment in the portfolio of shares of the analyzed companies. The studies cover the years 2016-2021. Findings: The results of the financial analysis show that the analyzed energy groups did not always could include increased operating costs in the price of energy sold in 2016-2021? The linear regression analysis did not indicate that the decrease in the profitability of investments in the shares of the surveyed companies can be explained by the increase in the prices of EU Allowances. Research limitation/implications: The inability to determine the unequivocal impact of the EU Allowances price increase on the financial results and share prices of the considered companies can be explained by the number of operating segments in the energy groups, the outbreak of the COVID pandemic and negative GDP in 2020, and the "upward rebound" of the economy after the pandemic and high GDP in 2021. Practical implications: The analysis is useful for shareholders of electricity companies and politicians who create regulations concerning the Polish energy policy. The results of the study are useful to all stakeholders of electricity companies. Social influence: The high costs of EU Allowances affect electricity prices for the Polish society and prove very high CO2 emissions when producing electricity in Poland. Originality/value: The conducted financial analysis and regression analysis are one of the first attempts to indicate the impact of the increase in the cost of CO2 emission allowances on the financial results and share prices of Polish energy companies. The article contributes to reducing the research gap existing in Polish literature in this area.

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Power quality monitoring in regional distribution networks in the Czech Republic

Santarius P., Krejčí P., Sikora T., Velička R.

Zeszyty Naukowe. Elektryka / Politechnika Opolska

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2008

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Vol. 323, z. 60

205-206

EN

The liberalisation of the market with electrical energy came into effect in the Czech Republic on 1st January 2002. In the first phase, big consumers (consumption over 40 MWh per year) were affected. This market has been liberalized completely since 2006. In our opinion, power companies pay sufficient attention to ensuring the required technical parameters. Customers usually have only one technical choice of the supply of electrical energy. But in the liberalised market environment entitled customers can choose from several traders of electrical energy. The key criterion for the choice is surely the offered price. But in steady market environment, where the offered prices will be balanced, other parameters will be more important when making decisions, and we expect that ensuring quality parameters will increase its role. The quality of electrical energy can be looked upon from the point of view of technical parameters of the supplied voltage and current, or from the commercial point of view (the quality of the supplied electrical energy and services). In the power company CEZ in the North Moravia region the monitoring of a number of selected parameters of the quality of electrical energy (harmonics, flicker, unbalance) is being done in cooperation with research laboratories of the Faculty of Electrical Engineering and Computer Science, VŠB - Technical University of Ostrava. The monitoring is being done in a complex way in 59 feeding points 400 V, always in one week intervals, and at the same time on all voltage levels (HV, MV and LV). The whole cycle lasted for 3 years, and currently the fourth cycle of monitoring is realised. 3 full cycles enables comparing of the state after twice three years. In the paper, the results of the first, second and third cycle of the complex monitoring will be summarised together with the comparison of the changes of parameters after three years. In the second cycle of monitoring there were measured currents in the neutral conductor. The results of monitoring of harmonic components of current in the neutral conductor will be presented in the paper. Beyond period monitoring are installed on chosen 100kV substations stationary monitoring devices. Analyzers QWave Power and QW Light (by the LEM Company) are installed here, so it is possible to record as many informations about both individual voltage quality parameters and events in the distribution system as possible. QWave Power measures all parameters of voltage quality simultaneously and compares these with limit values of the standard CSN EN50160, and further analyses the current. QWave Light is a simplified version that evaluates only voltage in all its guaranteed and indicative parameters. The instruments are successively installed in other MV and HV nodes. This paper summarizes results of 10 years of long-term periodical power quality monitoring. Further are in detail described methods of power quality monitoring methods with focus on use of composite measuring instruments.

3

"Make or buy" - własne przedsiębiorstwa energetyczne w gminie czy raczej dopuszczanie działalności innych (przykład niemiecki)

Theobald C., Sowa C.

Energetyka

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2003

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nr 6

390-394

PL

Omówiono aktualny stan sektora elektroenergetycznego w Niemczech ze szczególnym uwzględnieniem rozwoju przedsiębiorstw energetycznych, ściślej infrastrukturalnych, w gminach. Przedstawiono podstawy prawne i doświadczenia, zwłaszcza w elektroenergetyce na terenach byłego NRD. Dotychczasowe doświadczenia uznano za pozytywne.

EN

Discussed is an actual state of the power sector in Germany with a special consideration of the development of power companies (more exact infra-structural ones) in communes. Presented is a legal base and expe-rience especially in the electric power industry in the area of former G.D.R. Up-to-date experiences are proved as positive ones.