As part of the works on the applicable development strategy, a SWOT (strengths, weaknesses, opportunities, risks/threats) analysis related also to the issues of sustainable development was performed.
Opportunities and risks related to sustainable development
Selected identified opportunities related to sustainable development:
- Increased electricity demand,
- Possibility to enter the regulated district heating market thanks to construction of cogeneration units (taking into account the development of small polygeneration technologies with the use of clean coal technologies),
- Development of energy storage projects,
- Possibility to enter the market of local balancing areas and energy microclusters or similar solutions in urban areas (energy cooperatives, virtual prosument), thanks to the use of experiences in grid management,
- Possibility to build a competitive advantage based on introduction of innovative solutions in power generation, including by achieving the position of a change leader,
- Development of smart power grids,
- Development of communication and ICT technologies,
- Development of electromobility,
- Possibility to spin-off coal-fired generating assets to NABE.
Selected identified risks related to sustainable development:
- Destabilization of the power system due to a high demand for electricity, with simultaneous weather conditions that have an adverse impact on the level of RES energy generation (wind energy, PV),
- Gradual reduction of industry energy intensity and increasing deep energy retrofit trend,
- Loss of customers and decrease in overall volume of energy sales to end customers,
- Regulatory instability resulting in additional investment risk,
- Increasing environmental restrictions for the operation of energy companies arising from the EU regulations,
- Increasing EU preferences for RES development over conventional generating sources,
- Growing level of costs – of labor, materials, power devices,
- Growing prices of CO₂ emission allowances,
- Maintaining permanent import of electricity to Poland (development of cross-border connections),
- Maintaining permanent import of steam coal to Poland (coal supply from Polish deposits unbalanced with domestic demand).
The strategy was established among others in response to the aforementioned opportunities and risks.
Risk management is not only a matter of safety and financial stability, but also affects our reputation as a reliable partner and a socially responsible company. We are taking steps to reduce the likelihood of identified risks occurring and to ensure that the organization is adequately prepared for the potential consequences of their occurrence. Effective risk management is key to achieving our business objectives and ensuring ENEA’s sustainability.
At present, climate change and the geopolitical situation are ones of the primary sources of risks related to the social, environmental and corporate governance areas. Such changes and the energy transition aimed to slow them down might create new opportunities and threats to the ENEA Group’s operations, which is why it analyzes possible scenarios on a continuous basis. If the goals and solutions included in the applicable strategy prove insufficient given the changes occurring in the enterprise’s environment, it will consider to update the strategy.
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Non-financial risks
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Climate-related risks and opportunities