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The objective of this paper is to study the spillover effects between energy markets and stock markets with emphasis on the significant crisis periods of the last 15 years, the period of the financial crisis that officially started in 2008, the pandemic period, generically called COVID-19, and the recent confrontation in Eastern Europe. Understanding the volatility transmission mechanisms between the energy and capital markets and also from the energy markets back and the spillover effects that result is very important. We use multivariate GARCH models to highlight a spillover effect between energy commodities and equities in Central and Eastern Europe. The highest correlations are recorded for CEE stock markets with electricity and Brent, and the lowest for CEE stock markets with gas. The biggest symmetric shocks between energy and CEE stock markets occurred during the COVID-19 pandemic. In contrast, the biggest asymmetric shocks occurred during the financial crisis (for gas) and the Ukrainian invasion (for Brent). We also find that volatility is more sensitive to its lagged values in the marketplace than it is to new information. The impact and contagion of shocks caused by the oil market are greater than those of other energy markets. [ABSTRACT FROM AUTHOR]

The impact of the global COVID-19 pandemic has been devastating in many countries, increasing household energy poverty. Lockdown measures have brought the EU economies into recession phases and forced people to stay confined to their homes, aggravating these issues. From the second half of 2021, when the worst seemed behind us, a new threat has appeared threatening economic recovery: the inflationary process in energy prices. This paper aims to verify the effects on energy poverty in European countries following the economic crisis generated by COVID-19 and the current inflationary scenario due to the increase in energy commodity prices through dynamic factor models, estimating the time it will take for energy poverty to return to levels before the shocks that occurred over the past two years. The outcomes show that the overall rise in energy prices (in particular gas) that unexpectedly affected European countries modifies the forecast scenarios, delaying, at best, the first improvements, initially expected as early as 2021, until after 2022. [ABSTRACT FROM AUTHOR]

Accurate electricity demand forecasting is essential for global energy security, reducing costs, ensuring grid stability, and informing decision making in the energy sector. Disruptions often lead to unpredictable demand shifts, posing greater challenges for short-term load forecasting. Understanding electricity demand patterns during a pandemic offers insights into handling future disruptions. This study aims to develop an effective forecasting model for daily electricity peak demand, which is crucial for managing potential disruptions. This paper proposed a hybrid approach to address scenarios involving both government intervention and non-intervention, utilizing integration methods such as stepwise regression, similar day selection-based day type criterion, variational mode decomposition, empirical mode decomposition, fast Fourier transform, and neural networks with grid search optimization for the problem. The electricity peak load data in Thailand during the year of the COVID-19 situation is used as a case study to demonstrate the effectiveness of the approach. To enhance the flexibility and adaptability of the approach, the new criterion of separating datasets and the new criterion of similar day selection are proposed to perform one-day-ahead forecasting with rolling datasets. Computational analysis confirms the method's effectiveness, adaptability, reduced input, and computational efficiency, rendering it a practical choice for daily electricity peak demand forecasting, especially in disrupted situations. [ABSTRACT FROM AUTHOR]

The high volatility of commodity prices and various problems that the energy sector has to deal with in the era of COVID-19 have significantly increased the risk of oil price changes. These changes are of the main concern of companies for which oil is the main input in the production process, and therefore oil price determines the production costs. The main goal of this paper is to discover decision rules for a buyer of American WTI (West Texas Intermediate) crude oil call options. The presented research uses factors characterizing the option price, such as implied volatility and option sensitivity factors (delta, gamma, vega, and theta, known as "Greeks"). The performed analysis covers the years 2008–2022 and options with an exercise period up to three months. The decision rules are discovered using association analysis and are evaluated in terms of the three investment efficiency indicators: total payoff, average payoff, and return on investment. The results show the existence of certain ranges of the analyzed parameters for which the mentioned efficiency indicators reached particularly high values. The relationships discovered and recorded in the form of decision rules can be effectively used or adapted by practitioners to support their decisions in oil price risk management. [ABSTRACT FROM AUTHOR]

After the economic shock caused by COVID-19, with relevant effects on both the supply and demand for energy assets, there was greater interest in understanding the relationships between key energy prices. In order to contribute to a deeper understanding of energy price relationships, this paper analyzes the dynamics between the weekly spot prices of oil, natural gas and benchmark ethanol in the US markets. The analysis period started on 23 June 2006 and ended on 10 June 2022. This study used the DMCA cross-correlation coefficient in a dynamic way, using sliding windows. Among the main results, it was found that: (i) in the post-pandemic period, oil and natural gas were not correlated, in both short- and long-term timescales; and (ii) ethanol was negatively associated with natural gas in the most recent post-pandemic period, especially in short-term scales. The results of the present study are potentially relevant for both market and public agents regarding investment diversification strategies and can aid public policies due to the understanding of the interrelationship between energy prices. [ABSTRACT FROM AUTHOR]

Today, one of the main priorities in Europe is to introduce measures to increase environmental protection. Therefore, SMEs operating in the branch related to renewable energy are essential for several EU priorities. SMEs can also be vulnerable, especially during times of crisis, which could negatively affect renewable energy development. Therefore, this paper aims to evaluate and analyze the financial security management of renewable energy SMEs during the COVID-19 pandemic. The research is conducted on SMEs operating in the renewable energy sector in Poland. The research periods are 2019 (before the COVID-19 crisis) and 2020 (during the crisis). By analyzing different financial performance ratios, we found that SMEs operating in the energy sector have been able to stabilize and maintain their current economic position compared to the past. The results of this study indicate that the receivables collection period, cash conversion cycle, and operating cycle could have been insignificantly shorter during the COVID-19 crisis. Furthermore, to have stronger financial security, SMEs have adopted a conservative policy in which the share of accounts receivable in current assets has been significantly reduced during COVID-19. In contrast, an insignificant increase in liquidity, quick ratios, and inventory turnover have been observed. In general, Polish SMEs have chosen to adopt conservative strategies during COVID-19 to have better liquidity security. [ABSTRACT FROM AUTHOR]

The aim of this paper was to examine whether the COVID-19 epidemic has slowed the fulfilment of one of the core tasks of the energy sector "Ensure Access to Affordable, Reliable, Sustainable and Modern Energy for All" (SDG7) taking into account corporate social responsibility. Four research questions and hypotheses were posed, relating to the perspectives of local authorities, the activities of large energy companies, the impact of the epidemic on the implementation of the SDG7 and, in addition, to the understanding of CSR principles from the point of view of ordinary entrepreneurs. A qualitative descriptive analysis based on two reliable databases and a survey procedure (Question 4) was used to answer the research questions posed. The goal was achieved by positively confirming three hypotheses and testing one negatively, relating to COVID-19's slowing role in SDG7 implementation. The analysis showed that the 2020–2021 epidemic in Poland has led to more initiatives in this area, contrary to expectations. However, they were linked to the simultaneous implementation of other SDGs, which distorted their importance for achieving Goal 7. In summary, although energy companies were more active than expected during the epidemic, they had a low contribution to SDG 7. This also applies to local authorities. An analysis of the knowledge about CSR in a group of entrepreneurs from the Lublin district (case study) confirmed the opinion appearing in the literature about the lack of understanding of the concept and the need for its application. [ABSTRACT FROM AUTHOR]

The study investigated the changes that occurred in the Mexican power sector before, during, and after the COVID-19 pandemic and its repercussions on the electricity sector and energy sustainability goals. The study was based on the variability of the installed capacity, consumption, generation, and demand of the National Electric System (SEN), covering the period from 2017 to 2021. The data were collected from the Development of the National Electric System (PRODESEN), the Ministry of Energy, the National Energy Balance, and the government's official website. The results indicated that installed capacity and generation increased by 22.83% and 27.86%, respectively, despite the pandemic. This growth was attributed to clean energy, mainly from photovoltaic solar and wind sources. Another finding was that the gross domestic product (GDP), consumption, and demand were seriously affected by COVID-19. They had a fall of 8.2%, 2.2%, and 4.4%, respectively, which translates into a significant economic lag and a slowdown in energy self-sufficiency and the Mexican Energy Transition (TEM). Moreover, the objective of generating 35% and 40% of electrical energy through clean energy will be achieved by 2031 and 2035, instead of 2021 and 2035, respectively. [ABSTRACT FROM AUTHOR]

This study delves into the intricate landscape of biomass utilization within the food and energy markets. It entails a systematic review of the existing literature with the aim of unraveling the complexities of the food and energy discourse, especially in the context of significant market factors influencing biomass use for food and energy. We leveraged the Scopus database to examine 73 pertinent scientific articles carefully selected following the PRISMA framework. The articles were analyzed using the advanced qualitative data analytics tool NVivo 12 Plus. Furthermore, we employed the Biblioshiny R-package tool to extract valuable insights from the metadata, unveiling pivotal trends and providing descriptive statistical details. The findings offer comprehensive insights into the debate on biomass utilization from 2010 to 2023, tracing the influence of the COVID-19 pandemic. We identify regions that have made notable contributions and highlight those that require increased attention. The analysis underscores the collaborative nature of this field, with 281 authors contributing to 39 different sources. Surprisingly, the observed annual growth rate of −10.93% indicates a potential decline in research output in this field. Nevertheless, the sources identified in our research provide a valuable roadmap for further research exploration of the biomass–food–energy nexus. [ABSTRACT FROM AUTHOR]

(1) Background: Consumer switching behavior was one of the expected outcomes of the ongoing competitive reform in the European electricity industry. The aim of this study is to analyze the factors that affect the intention of consumers to switch from their incumbent supplier, who has a strong market position. This article follows the trend of describing and analyzing the situation of incumbent energy suppliers after energy market liberalization. (2) Methods: The research goal was to verify seven research hypotheses regarding switching intentions on the Polish energy market. For this purpose, structural equation modeling analysis using AMOS 29 was conducted. The survey was carried out in 2020, before the SARS-CoV-2 pandemic in Poland, and the research sample consisted of 1216 adults (clients of the incumbent supplier). (3) Results: Special attention was given to customers' resistance to change, as it was found to be a factor that can impact customers' decisions to switch, both directly and indirectly. Resistance to change can affect the trust that customers have in their current supplier's brand, their perception of the costs involved in switching, and their intention to switch. The research also highlighted the importance of brand trust and perceived ease of change in the customers' decision-making process. (4) Conclusions: An important factor that reduces switching behavior is the customer's resistance to change; brand trust is a valuable asset that also reduces switching intention. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic has had significant effects on the energy industry, leading to shifts in energy demand and generation patterns worldwide. This has created challenges for the energy sector, including disruptions in energy markets and the need for robust healthcare and electricity infrastructures. The pandemic has also resulted in changes in residential energy consumption, with some communities increasing their energy usage while others saw a decrease. Additionally, the adoption of virtual education during the pandemic has led to energy savings in educational institutions. The pandemic has also impacted electricity systems and grids, requiring ongoing research to address the challenges posed. In other sectors, such as transport and tourism, the pandemic has necessitated innovative measures to ensure passenger safety and has led to a reduction in greenhouse gas emissions in the tourism sector. Overall, the pandemic has brought about a new era for the energy industry, highlighting the need for coherent energy policies and the transition to clean energy. [Extracted from the article]

Many factors influence the prices of energy commodities and the value of energy and fuel companies. Among them there are the following factors: economic, social, environmental and political, and recently also the COVID-19 pandemic. The aim of the paper is to examine what the probability and intensity of a decrease in the prices of shares of energy and fuel companies listed on the Warsaw Stock Exchange (Poland) was during the first wave of the pandemic in the first quarter of 2020. The study used the survival analysis methods: the Kaplan-Meier estimator, the test of equality of duration curves and the Cox non-proportional hazards model. The analysis showed that the probability and intensity of price decline of energy and fuel companies in the initial period was the same as that of other companies. The differences become apparent only after 50 days from the established maximum of their value. The risk of price declines in energy and fuel companies increased significantly. This situation was related both to a temporary reduction in demand for energy and fuels, pandemic restrictions introduced in individual countries and the behaviour of stock market investors. [ABSTRACT FROM AUTHOR]

The aim of this study was to determine the expectations of the inhabitants of south-eastern Poland in relation to the main trends emerging in the energy market, in a specific crisis situation resulting from the response to COVID-19. The time range of the research covered the period from March to December 2022, i.e., the time just after the official easing of the most drastic restrictions related to COVID-19 in Poland. The CAWI method was used in the study. Access to the survey form was granted to several dozen people, who invited other respondents to participate in the survey. A total of 732 questionnaires were collected, of which 637 were verified, meeting the research assumptions regarding the place of residence of the respondents. The study was correlational in nature, as it looked for relationships between the examined features, without the possibility of influencing the level of individual variables. As the study used non-probability sampling, the inferences apply only to the study group. Two research questions were formulated: (1) Did the COVID-19 crisis shape the expectations of the inhabitants of south-eastern Poland regarding the energy market, and were these expectations consistent with the policies of the state and the European Union? (2) Were perceptions of the energy market and social phenomena differentiated in terms of sex, place of residence, and type of heating in the respondent's apartments? Statistical analyses of the collected material were performed using Statistica13.3 and MS Excel 19. The greatest support among respondents was recorded for the optimal use of the country's own energy resources, and the development of energy networks, in conjunction with the expansion of its own energy potential, and improvement of energy efficiency. Respondents confirmed the need to increase the use of renewable energy sources. However, the EU trend of abandoning electricity production in nuclear power plants was not confirmed. This is also evidenced by Poland's energy policy, which emphasizes the development of the nuclear energy market. Men were more positive than women about the implementation of nuclear energy in Poland. Women rated the development of RES use higher than men. Both women and men had a more positive attitude toward renewable energy than toward nuclear energy. Respondents living in rural areas assessed the development of RES higher and showed greater interest in increasing energy efficiency. The limitations of this study are that all the variables were measured simultaneously, so the study is cross-sectional, and additional attention may need to be paid to other causes of the studied phenomena. [ABSTRACT FROM AUTHOR]

New threats such as the COVID-19 pandemic have brought forth not only threats to human health but also changes to many other sectors of the global economy. Despite strict lockdowns, the highest annual number of global renewable energy installations were completed in 2020, including onshore wind power stations and PV power stations. The development of these two types of renewables is increasing rapidly. Transformations in terms of renewable energy require both governmental and public support; thus, it is important to note that the pandemic did not weaken the public commitment to fight climate change. This article aims to evaluate the actual level of support for renewable energy sources in different countries of the world and how the pandemic has affected public opinion regarding this issue. Our analysis suggests that, regardless of the pandemic, public support for renewable energy remains strong in different regions of the world. [ABSTRACT FROM AUTHOR]

As a consequence of the COVID-19 pandemic, Korea's economy has experienced significant setbacks. Thus, this article examines the implications of the COVID-19 pandemic on Korea's key macroeconomic indicators via the transmission channels of oil prices and production technology. Using Bayesian estimation and impulse response functions for empirical investigation, the results suggest that the COVID-19 pandemic has intensified the reduction in firm production, consumption of oil-based goods, employment, and investment. Increasingly, households rely on non-oil goods rather than oil-based ones. Similarly, the results suggest that the drop in production technology levels brought on by the COVID-19 pandemic has a stronger impact on business output and investment but a lesser influence on household employment. The COVID-19 pandemic has led to a decline in household non-oil consumption as well as household and business consumption of oil-based goods. To sum up, the existing Korean literature on this issue might be improved by including the findings offered in this article. [ABSTRACT FROM AUTHOR]

The outbreak and rapid spread of the COVID-19 pandemic has hit the global financial markets, including the energy sector. Alternative energy belongs to the economy's key sectors concerning environmental issues and seems to be a full-fledged alternative for fossil-based conventional energy. This paper aims to assess the impact of COVID-19 on the stock market indices related to the alternative and conventional energy sector. We use daily data on the Morgan Stanley Capital International (MSCI) Global Alternative Energy Index, the MSCI All Country World Index (ACWI) Energy Index, and self-developed Average-49 COVID-19 New Cases Index and Average-49 Stringency Index. The research covers the period January–October 2020. The average level of the MSCI Global Alternative Energy Index in COVID-19 year was more than a quarter higher than in 2019 while the MSCI ACWI Energy fell almost one-third in the same period. Based on the Markov-switching model, we show that both the MSCI Global Alternative Energy and the MSCI ACWI Energy are not significantly affected by the epidemic status. The analysed indices decline as the government anti-COVID-19 policy becomes more stringent, but the relationship is statistically significant only in the high-volatility regime. In comparison to the conventional energy index, we reveal that the alternative energy index stays most of its time in the low-volatility regime without being adversely and significantly affected by the COVID-19 related indicators. Our study shows that the alternative energy sector, represented by the MSCI Global Alternative Energy Index, seems to be more resistant to COVID-19 than the conventional energy sector. It might imply that the novel coronavirus pandemic has not depreciated but emphasised the growing concern about climate change and environmental pollution. [ABSTRACT FROM AUTHOR]

This study comprehensively examines the effects of the COVID-19 pandemic on energy consumption in the United States. The purpose of the study is to quantify the effects of lockdowns and pandemic disruptions on energy consumption trends in order to inform policymakers and utilities on how to prepare for such events in the future. The study focuses on 2020 data collected by the Federal government. The effects are quantified using descriptive statistics. State-wise and sector-wise data have been presented using plots and heat maps. Related metrics like COVID case data, GDP, emissions, and expenditures were also presented. The total energy consumption fell by 7.5% in 2020. Besides Alaska, every state saw a decrease in energy, with some as high as 26%. The residential sector had the most states that saw an increase in energy, stemming from lockdowns and working from home. Similarly, petroleum consumption saw a decrease of 11.4% as a result of a decrease in travel. Biomass-related renewable energy generation fell by 23% due to decreased demand, while all other sources increased by 7.3%. Carbon dioxide emissions fell by 10.4%, methane by 2.8%, and nitric oxide by 6.7%. The overall per capita energy expenditure for the country dropped by 18.5%. There was a stronger correlation between GDP and energy consumption than between GDP and COVID case counts. The pandemic did not affect each state or sector evenly. The statistics and correlations presented here can be used in the ongoing effort to study the global impact of the pandemic and prepare for future challenges. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic has caused a loss of the sense of financial security among employees. The consequence is decreased productivity, affecting employers who also suffer related costs. Actions to support employees' financial wellness are therefore important and necessary, especially in the case of those working in the strategic sector ensuring national energy security. The main aim of the article is to present, from the theoretical and practical point of view, the essence and role of Employee Financial Wellness Programs (EFWPs) in the creation of an effective incentive system in energy sector companies in Poland during the crisis caused by the COVID-19 pandemic. The following research methods were used: critical analysis of source literature, comparative analysis of existing data and the descriptive method with elements of deductive reasoning. In order to collect primary data, the indirect survey method was used, namely, the CAWI Internet survey technique, which was addressed to the main energy generation sector entities in the country. The research has shown that financial wellness instruments are new to the Polish market, where they have been in limited operation since 2021. It was confirmed that some companies in the energy sector are using such innovative tools, but they also show the need and interest to implement more extensive and comprehensive Employee Financial Wellness Programs that will reduce the financial stress of employees while motivating them to work more efficiently during the COVID-19 pandemic. [ABSTRACT FROM AUTHOR]

In March 2020, a lockdown was imposed due to a global pandemic, which contributed to changes in the structure of the consumption of natural gas. Consumption in the industry and the power sector decreased while household consumption increased. There was also a noticeable decrease in natural gas consumption by commercial consumers. Based on collected data, such as temperature, wind strength, duration of weather events, and information about weather conditions on preceding days, models for forecasting gas consumption by commercial consumers (hotels, restaurants, and businesses) were designed, and the best model for determining the impact of the lockdown on gas consumption by the above-mentioned consumers was determined using the MAPE (mean absolute percentage error). The best model of artificial neural networks (ANN) gave a 2.17% MAPE error. The study found a significant decrease in gas consumption by commercial customers during the first lockdown period. [ABSTRACT FROM AUTHOR]