Energy Security in the Context of Global Energy Crisis: Economic and Financial Conditions

Abstract

We have been observing large fluctuations and price increases in electricity markets in recent years. The COVID-19 pandemic, rising energy costs, political instability and increasing demand for electricity have been the factors intensifying the problems. This causes uncertainty related to maintaining energy security. Energy security is an element of the national security system. In this context, the question arises whether Polish energy companies are able to adapt to the growing demand for electricity while meeting the growing environmental requirements. Moreover, it remains to be seen how the current energy crisis will affect the financial condition of energy companies in Poland and whether companies from the energy sector will benefit from this crisis. Another issue is the impact of the current crisis on the sense of energy security of consumers. There are many factors affecting energy security. This study focuses on economic and financial factors. The article aims to assess the energy security of consumers from the perspective of the stability of energy prices and the financial condition of companies from the energy industry in Poland in the context of the global energy crisis.