Business conditions for Polish companies are deteriorating, alert analysts at PMR Restructuring SA, a company that saves companies from bankruptcy on a daily basis. The accumulation of negative market and fiscal factors, difficulties in finding employees and rising employment costs, a drastic reduction in profitability and profit margins... All this increases the risk of bankruptcy. Inevitable increases in electricity prices are a problem that will affect all companies, not only those in the energy and energy-intensive sectors, the specialists add.
Electricity prices are rising steadily across the European Union. This is primarily due to rising fuel costs and prices CO2 emission allowances. Additionally, as a result of the entry into force of the MIFID II directive – which recognises CO2 emission allowances as financial instruments – financial institutions have also started trading them, which may have an impact on their even higher price.
It's not just a Polish problem
Looking at other European Union countries, we can see that electricity price increases are common. In Great Britain, in 2018, electricity suppliers increased electricity prices as many as 57 times, which translated into an additional direct burden on households in the amount of 840 million pounds. For comparison, in 2017, there were only 15 such increases. Interestingly, the highest increases were carried out by smaller suppliers outside the so-called Big Six, six the largest companies electricity traders – ranged between 16.7 and 38.3 percent. The largest suppliers limited themselves to increases of several percent – from 6.7 to 9.3 percent. The increases were introduced earlier and gradually, in order to meet the special price limit for households imposed by OFGEM (Office of Gas and Electricity Markets), the energy market regulator in Great Britain.
Energy price increases in Poland, regardless of the final solutions limiting their impact on recipients, undoubtedly reduce the profitability of enterprises. The most vulnerable to problems are energy-intensive industries, chemical companies, industry, etc., but the price increase will also affect ordinary small entrepreneurs, shopkeepers, small food producers, service providers. Consumption and investment will also decrease, which will indirectly affect everyone.
17 January 2019:
" A wave of bankruptcies through electricity in 2019?
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