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Challenges and Research Trends of Energy Business and Management
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Challenges and Research Trends of Energy Business and Management

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (30 May 2023) | Viewed by 36952

Printed Edition Available!
A printed edition of this Special Issue is available here.

Special Issue Editors

Prof. Dr. Bernard Ziębicki

E-Mail Website
Guest Editor
Department of Management and Organization Methods, Cracow University of Economics, 27 Rakowicka St., 31-510 Krakow, Poland
Interests: organization and management methods; new management concepts; organizational effectiveness; business models and information management
Dr. Edyta Bielińska-Dusza

E-Mail Website
Guest Editor
Department of Strategic Analysis, College of Management Sciences and Quality, Cracow University of Economics, 27 Rakowicka St., 31-510 Krakow, Poland
Interests: strategy; technology; organizational audit; inter-organizational phenomena and management methods and tools

Special Issue Information

Dear Colleagues,

Energy transformation significantly redefines enterprises’ business models from the energy sector, putting them before difficult decisions in terms of both strategy and operationalization of activities. This is especially visible when considering climate protection policies, assumptions of Industry 4.0, and the use of technologies such as artificial intelligence, blockchain, Internet of Things (IoT), and Cloud Computing.

We are witnessing a turning point in technological breakthroughs, which in the long term will lead to fundamental changes both in the way of life and in the functioning of enterprises involved in the production, supply, and distribution of energy. It is also a tremendous pressure for managers to prepare their companies and employees for new challenges. The awareness of building an organization as part of customer relations, cooperation networks, eco-development, or energy efficiency is also becoming important.

In addition, companies from the energy sector are particularly susceptible to macroeconomic and environmental factors, such as government regulations, fluctuations in demand, price pressure on commodity exchanges, and measures to prevent global warming and engaging in the creation of renewable energy.

Furthermore, the situation related to the SARS-CoV-2 pandemic has forced many companies to rethink their actions, such as accelerating their digital transformation, supply chain, and risk management. However, some of them recorded a significant slowdown in technology implementation, as well as research and development. At present, we do not know what the long-term effect will be and whether it will influence the energy paradigm.

Therefore, the aim of this Special Edition devoted to Challenges and Research Trends of Energy Business and Management is to search for new theoretical and empirical works on changes in the energy sector management, including new business models, the use of Industry 4.0 technology, and its impact on organizations, digitization, sustainable development, companies’ energy self-sufficiency, and investments supporting the so-called green economy.

We are interested in answers to the following questions: What is the recipe for success in times of rapid industrial changes for the energy sector’s companies? How do business models shape what they should look like? How can digital transformation be effectively implemented? How can Industry 4.0 technologies improve the operation of enterprises in the energy sector? How do technologies create new manufacturing and competitive opportunities in the energy sector? How can leaders’ awareness and understanding of the needs and conditions of a dynamically changing environment be helpful in managing an energy company? How can a company be tailored to fit the goals of sustainable development and social responsibility? How can we shape inter-organizational cooperation so that it becomes a determinant that strengthens the competitive position or long-term development? How has the SARS-CoV-2 pandemic affected energy company management?

The call is addressed to both theoreticians and management practitioners. We believe that the exchange of knowledge, experience, and cooperation creates more space for new and unique solutions.

Prof. Dr. Bernard Ziębicki
Dr. Edyta Bielińska-Dusza
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Management in energy companies  
  • Strategic management  
  • Business models 
  • Restructuring energy companies 
  • Energy transformation 
  • Decentralized energy 
  • Industry 4.0 
  • Technology management 
  • Research and development (R&D) 
  • Innovations management  
  • Digital transformation 
  • Business Intelligence 
  • Business networks and cooperation 
  • Ecosystem management 
  • Sustainability 
  • Corporate social responsibility (CSR) 
  • Pandemic 
  • Coronavirus (COVID-19) 
  • Human resource management 
  • Logistics 
  • Marketing  
  • Managerial accounting 
  • Research methods

Published Papers (16 papers)

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24 pages, 992 KiB  
Article
An Exploratory Study on the Development of a Crisis Index: Focusing on South Korea’s Petroleum Industry
by Kyungbo Park, Hangook Kim and Jeonghwa Cha
Energies 2023, 16(14), 5346; https://doi.org/10.3390/en16145346 - 13 Jul 2023
Viewed by 966
Abstract
Industrial crises exert considerable influence on a wide range of industries, national economies, and global economic landscapes. The primary objective of this study is to devise a crisis index specifically tailored for the petroleum sector—a vital component of South Korea’s energy industry. An [...] Read more.
Industrial crises exert considerable influence on a wide range of industries, national economies, and global economic landscapes. The primary objective of this study is to devise a crisis index specifically tailored for the petroleum sector—a vital component of South Korea’s energy industry. An exhaustive analysis of the existing literature was conducted to extract pertinent elements and indicators, and indicator weights were determined using the analytic network process (ANP). Moreover, a combination of qualitative and quantitative methods was employed to rigorously evaluate the validity of the proposed crisis index. The implications derived from this study offer critical insights for stakeholders into the petroleum industry and demonstrate the potential applicability of a crisis index framework for other industries. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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18 pages, 331 KiB  
Article
The Business Model in Energy Sector Reporting—A Case Study from Poland: A Pilot Study
by Beata Sadowska, Magdalena Wójcik-Jurkiewicz, Grzegorz Zimon, Adam Lulek, Nina Stępnicka and Robert Walasek
Energies 2023, 16(4), 1955; https://doi.org/10.3390/en16041955 - 16 Feb 2023
Cited by 1 | Viewed by 1871
Abstract
The business model is understood as a way of generating revenue and creating value. This article aimed to define the framework and detailed characteristics of the business model in corporate reporting in the energy sector. The study also addressed the issue of value [...] Read more.
The business model is understood as a way of generating revenue and creating value. This article aimed to define the framework and detailed characteristics of the business model in corporate reporting in the energy sector. The study also addressed the issue of value creation and examined the correlation between reporting information about the business model and the value of the enterprise, calculated using selected accounting measures. The research was conducted in 2021 on all listed companies in the energy sector included in the WIG20 index in 2019–2020. The research methodologies included critical analysis of the literature, analysis of the content of corporate publications, comparative analysis, analysis of phenomena and synthesis of results, Spearman’s rank correlations, and graphical data presentation. The originality of our research concerns directing attention to the disclosure and reporting of information about the business model in corporate reports in the energy sector in Poland. This is the first such study in Poland conducted on companies in the energy sector; therefore, it is treated by the authors as a pilot study. The results show that companies in the energy sector included in the WIG20 index do not disclose information about their business models in reports and the structure of published reports is very diverse, which makes it even more difficult to compare financial and non-financial data. Enterprises in the energy sector disclose financial and non-financial information in financial statements and the reports of the management board on the activities of the company and the capital group. The financial information disclosed by the companies most often included financial and productive capital. Energy companies are reluctant to disclose information about by-products and waste. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
30 pages, 368 KiB  
Article
Controlling in the Process of Development of the Energy and Heating Sector Based on Research of Enterprises Operating in Poland
by Janusz Nesterak, Marta Kołodziej-Hajdo and Michał J. Kowalski
Energies 2023, 16(2), 773; https://doi.org/10.3390/en16020773 - 9 Jan 2023
Viewed by 1249
Abstract
Enterprises operating in the energy and heating (E&H) sector play a particularly important role in the economy of each country. At the same time, the conditions in which they currently operate mean that the managers of these organizations have many decision-making problems that [...] Read more.
Enterprises operating in the energy and heating (E&H) sector play a particularly important role in the economy of each country. At the same time, the conditions in which they currently operate mean that the managers of these organizations have many decision-making problems that they have to deal with. They can be supported by the introduction of well-functioning controlling. This forces scientists to conduct extended research aimed at determining the current and future directions of development of controlling in E&H sector enterprises. At the moment, this is not a frequent field of research exploration. The area of research concerns issues related to the use of controlling in E&H sector enterprises. The objective of this paper is to present the results of the research obtaining knowledge on to what extent companies in the energy and heating sector use controlling tools helping them to increase efficiency of enterprises and effectiveness of the decisions made by managers. The scientific problem is looking for a way in which controlling can increase the efficiency of enterprises in the E&H sector and how it can improve the effectiveness of decisions made by managers. The general conclusion of the research is that it seems necessary to strengthen the role of controlling aimed at its transformation from reporting controlling to management controlling. In view of the challenges of the global economy related to the energy crisis, controlling should be used to a greater extent in the E&H industry to increase the efficiency of basic processes and to effectively implement modern management tools. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
24 pages, 755 KiB  
Article
Barriers and Drivers for Changes in Circular Business Models in a Textile Recycling Sector: Results of Qualitative Empirical Research
by Anna Wójcik-Karpacz, Jarosław Karpacz, Piotr Brzeziński, Anna Pietruszka-Ortyl and Bernard Ziębicki
Energies 2023, 16(1), 490; https://doi.org/10.3390/en16010490 - 2 Jan 2023
Cited by 9 | Viewed by 3452
Abstract
The growing environmental problems associated with the dumping of large amounts of textile waste and the demand for circular products are prompting textile waste recycling enterprises to develop circular business models (CBMs). This implies a radical change in the way some enterprises operate [...] Read more.
The growing environmental problems associated with the dumping of large amounts of textile waste and the demand for circular products are prompting textile waste recycling enterprises to develop circular business models (CBMs). This implies a radical change in the way some enterprises operate to obtain growth. Considering the importance of the drivers of and barriers for the adoption and implementation of CBMs in the textile recycling sector, it is claimed that the comprehension of these factors to CBMs is limited and deserves more attention in empirical research. Therefore, our research investigates the antecedents of circular business models in the textile recycling sector by highlighting influencing factors. The aim of the article is to explore the main enhancing and inhibiting factors in the development of circular business models on the example of a large enterprise operating for 30 years in the textile recycling sector. In this study, a case study design of mixed methods, including semi-structured interviews with a business practitioner and the data presented on the websites of the surveyed enterprise, is used. The results suggest that main enhancing factors are relevant regulations at the European level, appropriate technologies and digitisation, and increasing social and environmental awareness of consumers and managerial capabilities. However, inhibiting factors are supply chain complexity and supply chain collaboration in connection with a large scale of business in crisis situations, a large scope and range of geographic diversification of outlets in the perspective of the consequences of the information gap, and readiness to take the so-called “being the first in the market” risk. In practice, this means that general drivers of the CBMs may facilitate the reuse of second-hand clothing and recycling of textiles for other new products as the primary CE action. On the other hand, enterprises have to overcome a number of technological barriers, and in the case of the textile recycling sector, it is necessary to understand which barriers they face to take appropriate actions. Research findings indicate factors that may be the subject of intervention or support of managers or policymakers. This study has practical implications and suggests future study paths. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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18 pages, 4419 KiB  
Article
The Impact of the COVID-19 Pandemic on the Volume of Fuel Supplies to EU Countries
by Izabela Dembińska, Agnieszka Barczak, Katarzyna Szopik-Depczyńska, Irena Dul, Adam Koliński and Giuseppe Ioppolo
Energies 2022, 15(22), 8439; https://doi.org/10.3390/en15228439 - 11 Nov 2022
Cited by 4 | Viewed by 1501
Abstract
The COVID-19 pandemic is undoubtedly a destructive factor, strongly affecting the economic fields. From the perspective of the countries affected by the pandemic, almost all sectors of the economy saw declines in economic indicators. First, the lockdown and its social consequences contributed to [...] Read more.
The COVID-19 pandemic is undoubtedly a destructive factor, strongly affecting the economic fields. From the perspective of the countries affected by the pandemic, almost all sectors of the economy saw declines in economic indicators. First, the lockdown and its social consequences contributed to this. The increasing time perspective since the outbreak of the COVID-19 pandemic implies increasingly more studies analyzing its impact on various economic spheres. The aim of the research is to determine the difference in the level of fuel supplies between a pandemic situation and a situation where a pandemic would not occur. We assumed that the pandemic is a determinant of the decline in fuel supplies. The subjects of the analysis were the following fuels: kerosene-type jet fuel, gas oil and diesel oil, motor gasoline, and oil products. The countries of the European Union were analyzed. Monthly data from 2015–2021 provided by Eurostat were used for the analyses. The forecasts for 2020–2021 were determined using the exponential smoothing method. The assumption was shown to be accurate in the case of kerosene-type jet fuel, gas oil, and diesel oil. In this case, there was a clear drop in the level of supplies. The analysis of forecasts shows that if it were not for the COVID-19 pandemic, in the years 2020–2021, in accordance with the forecasts obtained, approximately 31,495 thousand tons of kerosene-type jet fuel and 11,396 thousand tons of gas oil and diesel oil would have been additionally supplied to the EU countries. For oil products, supply volumes also decreased, but unlike previously mentioned fuels, supply levels had not recovered to pre-pandemic levels by the end of 2021. On the other hand, the forecast of deliveries indicates the volume of 95,683 thousand tons of oil products. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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17 pages, 2117 KiB  
Article
Regional Specialization, Competitive Pressure, and Cooperation: The Cocktail for Innovation
by Bartolomé Marco-Lajara, Eduardo Sánchez-García, Javier Martínez-Falcó and Esther Poveda-Pareja
Energies 2022, 15(15), 5346; https://doi.org/10.3390/en15155346 - 23 Jul 2022
Cited by 14 | Viewed by 1419
Abstract
The main aim of this paper is to analyze the effect of industrial agglomeration on the degree of interorganizational cooperation and the innovative performance of firms of the electricity supply sector in Spain. For this purpose, the agglomeration coefficient in each of the [...] Read more.
The main aim of this paper is to analyze the effect of industrial agglomeration on the degree of interorganizational cooperation and the innovative performance of firms of the electricity supply sector in Spain. For this purpose, the agglomeration coefficient in each of the 50 provinces of Spain is calculated, based on secondary data from SABI database. Subsequently, primary data are obtained from a sample of 197 companies through a structured questionnaire. In this case, the PLS-SEM technique is used. The results show that there is a positive and significant relationship between the variables analyzed. It is concluded that industrial agglomeration and cooperation are relevant external factors that boost the innovative performance of firms and that business associations foster interorganizational cooperation. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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48 pages, 6027 KiB  
Article
Restructuring of the Coal Mining Industry and the Challenges of Energy Transition in Poland (1990–2020)
by Jarosław Kaczmarek, Konrad Kolegowicz and Wojciech Szymla
Energies 2022, 15(10), 3518; https://doi.org/10.3390/en15103518 - 11 May 2022
Cited by 16 | Viewed by 3135
Abstract
The European Union’s climate policy and the energy transition associated with it force individual countries, their economies and their industrial sectors to carry out thorough changes, often of a deep, high-cost and restructuring nature. The aim of the article is to provide a [...] Read more.
The European Union’s climate policy and the energy transition associated with it force individual countries, their economies and their industrial sectors to carry out thorough changes, often of a deep, high-cost and restructuring nature. The aim of the article is to provide a multidimensional assessment of the forms and effects of the restructuring of coal mining companies in Poland in light of the current energy transition process. The research problem is encapsulated within the following two interdependent questions: Has the restructuring process allowed the coal mining industry to achieve sufficient efficiency to sustainably compete in the open market, and to what extent, if at all, have the objectives of restructuring been achieved from the perspective of changes in the energy mix? The research covers all coal mining companies included in the official statistics. It adopts a long-term perspective (1990–2020), dating from the beginning of the systemic transformation in Poland. The research involved the use of multivariate financial analysis methods, including the logit model for predicting the degree of financial threat, as well as taxonomic methods for assessing the dissimilarity of structures and their concentration. The general conclusion of the research is that there has been a lack of consistency (follow-up) between the forms and effects of restructuring in coal mining companies in Poland on the one hand and changes in the composition of the country’s energy mix as a result of the energy transition on the other. In particular, this means that such restructuring, being neither effective nor efficient, has failed to accelerate change in the energy mix. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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21 pages, 1523 KiB  
Article
Appraisal Modeling for FSRU Greenfield Energy Projects
by Dimitrios Dimitriou and Panagiotis Zeimpekis
Energies 2022, 15(9), 3188; https://doi.org/10.3390/en15093188 - 27 Apr 2022
Cited by 2 | Viewed by 2098
Abstract
Floating storage and regasification units (FSRU) provide a flexible and competitive energy distribution option when it comes to the regasification of liquefied natural gas (LNG). FSRU projects have become more and more popular, attracting the interest of investors, energy authorities, and governments; therefore, [...] Read more.
Floating storage and regasification units (FSRU) provide a flexible and competitive energy distribution option when it comes to the regasification of liquefied natural gas (LNG). FSRU projects have become more and more popular, attracting the interest of investors, energy authorities, and governments; therefore, the project feasibility in terms of risks and profitability are a major concern. This paper deals with the appraisal of a greenfield LNG infrastructure project, where usually, decision complexity deals with the high number and different expectation of stakeholders, the capital-intensive financing nature, and the business risks in the project life cycle. Conventional wisdom is to provide a coherent, compact, and well-structured appraisal modelling framework, adjusted to FSRU technical, structural, and operational features on one hand; and business risks, long-term life cycle, and investment attractiveness on the other. Appraisal modelling structure and outputs are considered to provide key messages to the decisions involved and interested parties toward the project feasibility and the associated investment risks for the implementation of the FSRU project. The proposed modelling framework was applied to the Alexandroupolis FSRU project, where the first discussion was many years ago, but the existing conditions in the energy market are raising the interest for developing energy distribution facilities globally. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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22 pages, 2342 KiB  
Article
Multi-Energy Concern as an Example of the Implementation of Agenda 2030: Poland as a Case Study
by Joanna Toborek-Mazur and Magdalena Wójcik-Jurkiewicz
Energies 2022, 15(5), 1669; https://doi.org/10.3390/en15051669 - 23 Feb 2022
Cited by 6 | Viewed by 2160
Abstract
The motive for the functioning of enterprises in the market economy is the maximization of benefits by achieving positive financial results with the minimum possible involvement of capital. The positive results achieved are perceived very positively by the stakeholders. To achieve this, it [...] Read more.
The motive for the functioning of enterprises in the market economy is the maximization of benefits by achieving positive financial results with the minimum possible involvement of capital. The positive results achieved are perceived very positively by the stakeholders. To achieve this, it is necessary to carry out reorganization processes (mergers and acquisitions) within capital groups, which are perceived as necessary (positive) measures. These phenomena have been observed in the energy sector for many years, and the years 2010–2021 were adopted as the research period. The aim of this article is to attempt to answer the question of whether the multi-energy concern is the result of activities carried out in light of the 2030 Agenda. The effect of merging the entities is capital concentration. This fact has been verified by reviewing changes in the structures of capital groups in the energy sector against the background of the largest mergers and acquisitions in Poland in terms of value. The theoretical part presents the differences in the terminology of mergers and acquisitions and the motives for their creation and operation, with an emphasis on energy groups. Therefore, the authors undertook research aimed at identifying and assessing the main premises and effects of capital concentration through mergers and acquisitions in the energy sector in Poland. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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24 pages, 2506 KiB  
Article
Optimizing Multi Cross-Docking Systems with a Multi-Objective Green Location Routing Problem Considering Carbon Emission and Energy Consumption
by Ieva Meidute-Kavaliauskiene, Nihal Sütütemiz, Figen Yıldırım, Shahryar Ghorbani and Renata Činčikaitė
Energies 2022, 15(4), 1530; https://doi.org/10.3390/en15041530 - 18 Feb 2022
Cited by 9 | Viewed by 2391
Abstract
Cross-docking is an excellent way to reduce the space required to store goods, inventory management costs, and customer order delivery time. This paper focuses on cost optimization, scheduling incoming and outgoing trucks, and green supply chains with multiple cross-docking. The three objectives are [...] Read more.
Cross-docking is an excellent way to reduce the space required to store goods, inventory management costs, and customer order delivery time. This paper focuses on cost optimization, scheduling incoming and outgoing trucks, and green supply chains with multiple cross-docking. The three objectives are minimizing total operating costs, truck transportation sequences, and carbon emissions within the supply chain. Since the linear programming model is an integer of zero and one and belongs to NP-hard problems, its solution time increases sharply with increasing dimensions. Therefore, the non-dominated sorting genetic algorithm-II (NSGA-II) and the multi-objective particle swarm optimization (MOPSO) were used to find near-optimal solutions to the problem. Then, these algorithms were compared with criteria such as execution time and distance from the ideal point, and the superior algorithm in each criterion was identified. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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21 pages, 1659 KiB  
Article
Sustainable Rural Electrification Project Management: An Analysis of Three Case Studies
by Laura Del-Río-Carazo, Emiliano Acquila-Natale, Santiago Iglesias-Pradas and Ángel Hernández-García
Energies 2022, 15(3), 1203; https://doi.org/10.3390/en15031203 - 7 Feb 2022
Cited by 6 | Viewed by 3024
Abstract
Universal access to energy is a global challenge for sustainable development that requires granting last-mile access to energy services to rural and isolated communities. However, achieving access is not sufficient: it must be done affordably, reliably and with an adequate quality. Universal access [...] Read more.
Universal access to energy is a global challenge for sustainable development that requires granting last-mile access to energy services to rural and isolated communities. However, achieving access is not sufficient: it must be done affordably, reliably and with an adequate quality. Universal access to energy goes beyond the mere selection of a technical solution or infrastructure; it demands being able to design management models for projects aiming to guarantee that households may access energy services in a sustainable way. This study analyzes the main elements (i.e., governance, technological and business models) of management models in universal access to energy projects and their impact on the different dimensions of sustainability (i.e., social, environmental, and economic). The study then presents three case studies of rural electrification projects having different configurations of the management model, with special focus on the differences in the business model, and it analyzes their outcomes from a sustainability perspective. The analysis of the three case studies suggests that the choice of the business model is key to ensuring sustainability, with fee-for-service models giving the best results. The analysis also highlights the importance of collaboration and involvement of the communities in projects engaging multiple agents with different roles. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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21 pages, 4812 KiB  
Article
Strategies of European Energy Producers: Directions of Evolution
by Jerzy Niemczyk, Aleksandra Sus, Edyta Bielińska-Dusza, Rafał Trzaska and Michał Organa
Energies 2022, 15(2), 609; https://doi.org/10.3390/en15020609 - 15 Jan 2022
Cited by 9 | Viewed by 2074
Abstract
The article presents an innovative method of analyzing energy companies’ strategies, which aims to identify the strategic orientation of the entities subject to the research and, thus, to initially define the directions of strategic changes in the analyzed sector. The aim of the [...] Read more.
The article presents an innovative method of analyzing energy companies’ strategies, which aims to identify the strategic orientation of the entities subject to the research and, thus, to initially define the directions of strategic changes in the analyzed sector. The aim of the research, the results of which were used in this publication, was to identify the features of energy sector companies’ strategies in the European Union in the period of sector transformation caused by the new climate policy. The analysis area is the energy sector, i.e., the sector whose fundamental strategic goal is energy production. The research used a critical analysis of the subject literature and desk research method with the use of the researchers’ own analytical equipment, developed for the needs of this analysis. It was assumed in the conducted research that the primary source of information in the empirical study, the information subject to subsequent analysis, was the analysis of official documents (strategies, financial reports, etc.) posted on the websites of the surveyed corporations. The research results indicate the dominance of the resource-based approach in implementing strategic postulates of the surveyed companies. Nevertheless, the operational activity focuses on the implementation of innovative solutions towards decarbonization and climate neutrality. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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21 pages, 447 KiB  
Article
The Role of Pro-Innovative HR Practices and Psychological Contract in Shaping Employee Commitment and Satisfaction: A Case from the Energy Industry
by Katarzyna Gadomska-Lila and Anna Rogozińska-Pawełczyk
Energies 2022, 15(1), 255; https://doi.org/10.3390/en15010255 - 31 Dec 2021
Cited by 7 | Viewed by 3348
Abstract
Innovation is a very important attribute of energy companies. Its level largely depends on employees’ attitudes and behaviours, which are determined on the one hand by individual factors (e.g., psychological contract) and on the other hand by organisational factors (e.g., human resources (HR) [...] Read more.
Innovation is a very important attribute of energy companies. Its level largely depends on employees’ attitudes and behaviours, which are determined on the one hand by individual factors (e.g., psychological contract) and on the other hand by organisational factors (e.g., human resources (HR) practices). The aim of this article is to identify the relationship between pro-innovative HR practices, psychological contract and employee attitudes—commitment and job satisfaction. The research was conducted in a company which is one of the leading Polish electricity suppliers. Data were collected using a proprietary survey questionnaire. The research involved 402 HR professionals responsible for shaping and implementing pro-innovative HR practices in the company. Hypotheses were tested using the partial least squares structural equation modelling technique (PLS-SEM). The results indicate the existence of a positive relationship between pro-innovative HR practices, psychological contract and employee commitment and satisfaction. Furthermore, they indicate that organisations wishing to increase employee commitment and job satisfaction should strengthen and implement existing psychological contracts. One way to do this is to invest in pro-innovative HR practices, such as competence development, knowledge sharing or creativity-based candidate selection, as they have been shown to be good moderators of these relationships. The obtained results may be of particular importance for HR management specialists and managers responsible for shaping desired attitudes and behaviours of employees. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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17 pages, 626 KiB  
Article
From Words to Deeds: The Impact of Pro-Environmental Self-Identity on Green Energy Purchase Intention
by Magdalena Grębosz-Krawczyk, Agnieszka Zakrzewska-Bielawska and Sylwia Flaszewska
Energies 2021, 14(18), 5732; https://doi.org/10.3390/en14185732 - 11 Sep 2021
Cited by 10 | Viewed by 2531
Abstract
This study examines the mechanism by which pro-environmental self-identity (PESI) affects green energy purchase intention (GEPI) through different dimensions of consumption values. The concept of pro-environmental self-identity is rarely discussed in the context of green energy purchase intention. Additionally, the amount of research [...] Read more.
This study examines the mechanism by which pro-environmental self-identity (PESI) affects green energy purchase intention (GEPI) through different dimensions of consumption values. The concept of pro-environmental self-identity is rarely discussed in the context of green energy purchase intention. Additionally, the amount of research concerning consumers’ attitudes and behaviours towards photovoltaic panels is limited. We fill this cognitive gap by testing a relation between pro-environmental self-identity and green energy purchase intention. The data collection was carried out based on an indirect method of gathering information—using an online survey. Research was conducted among 250 Polish customers. The partial least squares structural equation modelling technique was applied. The research results show that the relations between PESI and GEPI is mediated totally by social and partially by emotional values. The mediating impact of functional values was not confirmed. The results of this study illustrate the importance of intangible—social and emotional—values and its impact on the consumer behaviour toward green energy. This study can help marketers more efficiently promote the installation of photovoltaic panels in European countries. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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21 pages, 1206 KiB  
Review
Digitalisation of Enterprises in the Energy Sector: Drivers—Business Models—Prospective Directions of Changes
by Barbara Siuta-Tokarska, Sylwia Kruk, Paweł Krzemiński, Agnieszka Thier and Katarzyna Żmija
Energies 2022, 15(23), 8962; https://doi.org/10.3390/en15238962 - 27 Nov 2022
Cited by 10 | Viewed by 1851
Abstract
The energy sector has been a pioneer in the use of information and communication technologies for many years, and has undergone enormous changes in recent years as a result of the transition resulting from the fourth industrial revolution. In the paper, we examine [...] Read more.
The energy sector has been a pioneer in the use of information and communication technologies for many years, and has undergone enormous changes in recent years as a result of the transition resulting from the fourth industrial revolution. In the paper, we examine and analyse relevant studies and their findings in order to show the current status of research on three selected aspects of digitalisation in energy sector enterprises. The paper sheds light on the diverse drivers influencing the digitalisation processes of energy sector companies. It also provides an overview of business models that are or will soon be implemented in the energy sector thanks to opportunities offered by digitalisation in response to observed trends in the energy market. Finally, it illustrates open research challenges and future dilemmas related to various aspects of energy sector digitalisation. The paper was prepared using the critical literature review method. It covers a large volume of the most recent and relevant literature referring to the three major research areas mentioned above. The literature review allowed us to identify the drivers influencing the digitalisation of energy companies and distinguish between those specific to this sector and those relating to all businesses as a part of the more general phenomena of Industry 4.0 and Industry 5.0. We also show how the digitalisation-based business model innovation presented in the literature empowers new energy producers and consumers through business models. We have also identified the most frequently indicated challenges and dilemmas in the digitalisation of energy companies related to the risk of the destabilisation of the energy market due to decentralisation, new requirements placed on the competences of energy sector workers, the new culture of interaction between energy suppliers and consumers, and the digital security of data used in the energy system. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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9 pages, 243 KiB  
Review
Oil Prices and the Hydrocarbon Markets: A Review
by Ali Jadidzadeh, Mobin Mirzababaei and Apostolos Serletis
Energies 2022, 15(17), 6192; https://doi.org/10.3390/en15176192 - 25 Aug 2022
Cited by 2 | Viewed by 1666
Abstract
In this paper, we review the literature that investigates the impact of oil price shocks on the selected hydrocarbon prices. First, we present the empirical studies that presume, due to the global nature of the crude oil market, that the world oil price [...] Read more.
In this paper, we review the literature that investigates the impact of oil price shocks on the selected hydrocarbon prices. First, we present the empirical studies that presume, due to the global nature of the crude oil market, that the world oil price is an exogenous determining variable to the evolution of the local hydrocarbon markets such as natural gas or natural gas liquids (NGLs). Then, we present recent empirical studies that have improved our understanding of the source of oil price changes. They treat the real price of oil as an endogenous variable, identify the causes underlying oil price shocks, and then evaluate the impact of structural supply and demand shocks on the other hydrocarbon prices. The first strand of studies does not represent a consensus on the relationship between crude oil and other hydrocarbon prices—some demonstrate stable and asymmetric relationships, and some find no relationship or a very weak relationship. The second strand of studies shows that oil supply-side shocks have a transitory and temporary impact while oil demand-side shocks have a persistent and permanent impact on other hydrocarbon prices. In addition, it shows that the structural shocks in the global crude oil market explain approximately 50% of the variation in the other hydrocarbon markets in the long run. Full article
(This article belongs to the Special Issue Challenges and Research Trends of Energy Business and Management)
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