The Economic Effect of the Pandemic in the Energy Sector on the Example of Listed Energy Companies

Edyta Rutkowska-Tomaszewska, Aleksandra Łakomiak and Marta Stanisławska
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Edyta Rutkowska-Tomaszewska: Faculty of Law, Administration and Economics, University of Wroclaw, 50-137 Wroclaw, Poland
Aleksandra Łakomiak: The Faculty of Business and Management, Wroclaw University of Economics and Business, 53-345 Wroclaw, Poland
Marta Stanisławska: Faculty of Technical and Economic Sciences, Witelon State University of Applied Sciences in Legnica, 59-220 Legnica, Poland

Energies, 2021, vol. 15, issue 1, 1-28

Abstract: The study posed a research question: did the situation caused by COVID-19 affect the economic position of energy companies? The aim of the study is to investigate the impact of the situation of the epidemic state introduced in 2020 on the activities of the efficiency of energy sector companies. The subject of the research will be the ten largest Polish power plants in terms of electricity production, including four capital groups to which they belong. Financial data from 2014 to 2020 will be used for the research. To test the effectiveness, the tools of the ratio analysis will be used. The analysis of the financial statements in terms of investments in manufacturing activities confirms the hypothesis that companies investing in new solutions and technologies will be best prepared for an exceptional situation. The results of the research show that those capital groups which in the period preceding the outbreak of the epidemic made the largest investment outlays and at the same time their financial ratios and market valuation on the Warsaw Stock Exchange were the highest, they also achieved the highest financial results during the pandemic—they had the most favorable economic situation.

Keywords: energy; energy company; efficiency; financial analysis; pandemic (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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