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The article outlines the main stages of the digital transformation of the energy sector of Russia since 2014. The methodological framework of the summary is composed of the key federal laws and industrial regulations that formed the foundation of the digitalization of the Russian energy sector. The study revealed two focus segments for Russian energy transformation. The first one deals with the development of the methodological framework for digital transformation (departmental project “Digital Energy”). The second one works towards the development of new technical solutions, their active field testing and elimination of emerging administrative barriers (EnergyNet road map, “Unified Technical Policy - Power Supply Reliability” project). It has been established that technological development trends in the Russian energy sector generally match those in the rest of the world (smart energy, distributed generation, renewable energy, consumer services etc.). Private projects that are being implemented as part of these initiatives prove highly efficient technically and economically and are attracting wide attention in the global energy market.

The wholesale electricity and capacity market constitute the backbone of the Russian power industry. It is in this market that large suppliers and buyers operate, and its entire turnover is consequently transmitted to the retail market. Our paper presents a theoretical overview of the main tools for forming the cost of electricity and capacity in the wholesale market in Russia (depending on the regional affiliation), the type of end users, and the degree of state participation. We consider the specifics of the formation of the cost of electricity and capacity in the price and non-price wholesale markets of Russia, which differ in territorial, climatic, and economic characteristics, as well as the established structure of generation. In the empirical part of the paper, we carry out a structural analysis of the volumes of trade in electricity and capacity in the price and non-price zones of the market. Furthermore, we explain the reasons for the current dynamics of prices in the wholesale market. Using the obtained results, we calculate the maximum annual effect of the solar power plant operation in various zones of the Russian wholesale market, as well as in the retail market. In addition, we estimate the economic incentive for the transition of the functioning of power facilities from the wholesale to the retail market. Our results can be of considerable practical importance and might be used for improving the strategy for the development of the electric power industry at the regional level both in Russia and in the other countries.

The expansion of renewable energy (RE) relies on both natural factors and socioeconomic conditions fostered at the regional level. This paper examines the key factors influencing RE development in selected Russian regions. We conducted a literature review, surveyed 250 industry experts, and analyzed reports from energy and rating agencies, along with natural resource maps, to identify specific risks and indicators. Our expert survey revealed that the most significant technical risks are low resource potential (68%), energy system surplus (68%), and the absence of transport logistics with neighboring regions (58%). Politically, the lack of additional sector initiatives (6%) was noted. Economically, the high cost of RE (56%) and insufficient experience with “green” investments (54%) were highlighted. Social factors included low unemployment rates (74%), and the absence of remote areas without power supply (72%). Environmentally, the lack of enterprises for energy unit utilization (84%), low greenhouse gas emissions (60%), and insufficient accessible territories for facilities (58%) were significant concerns. We developed risk profiles for nine Russian regions, categorizing them into leaders, intermediates, and nascent stages of RE market formation. Our findings indicate that the most impactful factors include resource potential, space limitations for energy facilities, proximity to equipment manufacturers, regional support measures, and the development of “green” investment instruments. Conversely, regional investment attractiveness had a lesser influence. On the basis of these insights, we recommend enhancing RE development through refined federal and regional support programs. We propose additional criteria for project selection: (1) minimum construction costs covered by “green” investments and (2) quantitative restrictions on new capacities, considering regional energy system status. Practical recommendations also include developing regional centers for servicing generating facilities and increasing the sector's investment attractiveness to stimulate private investment. Renewable energy in Russia.

Our paper focuses on assessing the role of state funding in supporting wind energy projects with a focus on economic efficiency and risk assessment. In particular, we analyze the new program aimed at supporting Russian renewable energy (RE) projects envisaged for the period from 2024–2035 that involves a reduction in investments in such projects and the introduction of large fines for non-compliance with regulatory requirements for localization and export. These strict rules imposed by the regulatory authorities, as well as the withdrawal by foreign manufacturers of equipment for renewable energy from the domestic energy market, put into doubt the economic feasibility of the participation of sector players in state-supported programs. Our paper assesses the economic justification for the practicality of the Russian energy market to implement renewable energy projects under the influence of negative environmental factors and the reduction of state support programs. We employ a case study of wind energy projects carried out in 2018–2020 as a part of the first sector support program. Our methodology is based on the calculations of the classical indicators of economic efficiency of projects (NPV, IRR, and DPP). Our own approach reveals that these indicators are supplemented by taking into account the cost of specific political, environmental, and economic risks of wind energy projects. Our results reveal that, at the moment, Russian wind energy projects in various scenarios retain a sufficient margin of financial strength and are able to withstand a reduction in the amount of financial support from the state. Our findings allow the formulation of some practical recommendations for reducing the share of governmental support for wind energy projects on the local energy market as a measure of cutting costs and increasing overall economic efficiency.

The effective investment of private capital in renewable energy projects is impossible without intensive and comprehensive support for investors from the state. However, each mechanism of state support is characterized by its own level of risk. Political instability may lead not only to the loss of investment, but also to a decrease in the investment attractiveness of renewable energy projects. This paper summarizes the main types of state support mechanisms, as well as their impact on the development of renewable energy sources (RES) around the world. As a result of the analysis, the types of investors in the global RES market are identified, taking into account their attitude to risk and profit. The paper presents an approach to assessing the level of impact of state support mechanisms on the cost of RES projects based on the evaluation of a system of investment indicators. The calculations are made using Russian RES projects as an example and taking into account their energy and regional features. The results of the study will be used for the development of a methodology for the comprehensive assessment of the effectiveness and appropriateness of state support measures for RES in developing countries, as well as for supplementing the existing approach to the study of competition in the global energy market with a deterministic assessment of the relevant risk.

The paper deals with the formation and development of strategic intelligence, a fundamentally new management mechanism in organizations that provides information and analytical support for making anticipatory decisions and the company’s preparedness for unpredictable challenges of the future. The paper systematizes academic approaches in terms of distinctive features and classification criteria of strategic intelligence, formulates its key objectives in the course of digital transformation, and gives the criteria for assessing its level in companies. It is shown that the establishment of strategic intelligence requires the introduction of specialized management systems, such as anticipatory management, and the formation of relevant competencies based on anticipatory learning. An anticipatory management model is proposed that takes into account weak signals for timely and adequate response to emerging threats. The power engineering industry has been used as an example for demonstrating the given model’s capabilities to create standard algorithms for making anticipatory decisions in difficult situations. The paper also defines the role of strategic intelligence in the process of digital transformation and the transformation of organizations into self-learning ones.

The growing pace of renewable energy development favors a significant change in global energy market conditions. This is due to the crisis of traditional energy, the emergence of new energy sources and arrival of new market players. As a result, forecasting the state of the energy market and assessing the potential of individual regions in terms of the development of renewable energy sources (RES) is becoming quite a difficult task. The article presents a structural analysis of the global energy market in the aspect of studying the dynamics of new capacity and actual production of renewable energy by country and type of energy sources. As a result of the analysis, the author has grouped countries participating in the market on the basis of indicator values reached: front-runners, average performers and stragglers. The author presents an approach for assessing competition in the global renewable energy market – a “thermometer” of competition. Its features include assessment of aggregate specific risk that is unique for each energy market country-member. The final assessment of the “temperature” in the global energy market is based on taking into account the total aggregate risk in one of the three zones of the “thermometer” scale. The results of the study will be used for improving the presented approach, developing an integrated methodology for the ranking of regions in the energy market, and the practice-based assessment of competition in the global market of renewable energy, taking into account the potential of individual participants.

Investment projects in the energy sector are complex and super capital-intensive plans involve not only individual companies, but also cities and even whole regions. This makes it relevant to investigate the issue of objectivity in the evaluation of investment projects and investment decisions. Despite the basic concepts and evaluation procedures being spelled out in Russian legislation, certain methodological aspects are left to the discretion of energy companies. There is a serious problem of the lack of sufficient hands-on experience in effectiveness management in Russian energy companies under out-of-the- ordinary and fast-changing conditions. This further dents the objectivity of investment project evaluation. The article presents a summary of methods of evaluating the effectiveness of energy projects that are used in Russia and abroad. An expert analysis of the applicability of the methods was conducted on the basis of 15 criteria, including technical, social and economic, industry-specific aspects, sensitivity, impacts of risk etc. Based on the results of the analysis, the authors suggest their own method of evaluating the effectiveness of energy projects. The method supplements traditional investment calculations with ten new phases, including scenario forecasting of revenue, estimation of operating costs, analysis of risks on the basis of project sensitivity, measurement of technical and economic performance etc. The method was given a trial by Russia’s largest grid company Rosseti. The calculations confirmed enhanced objectivity of investment decisions compared to an approach used previously. They served as the foundation for drafting methodological recommendations for the adoption of the method by the energy company.

The strategic tasks of energy companies are impossible to achieve without reducing the risks of companies’ development because it is an element of increasing the companies’ competitiveness. The article is devoted to the evaluation of the competitiveness of Ural energy companies. For further deterministic evaluation, the author introduces the interpretation of competitiveness as the sum of development risks of an energy company. The article presents a comprehensive assessment of the competitiveness of an energy company on the basis of the proposed methodological approach. This approach includes the assessment and ranking of energy company’s risks, the comparative analysis of real and threshold values of the overall risk of investment project implemented by a company. I tested the method of scenario analysis. The main criterion of this method is the consumers demand on energy resources. I applied the theory of economic capital as an auxiliary instrument. Risks’ rating construction is one of the most significant results of the method’s approbation. On the basis of the calculated indicators of the overall risk, I have developed a map of competitiveness. This map allows assessing the twelve cases of company’s competitiveness depending on different development scenarios and types of economic capital. The practical value of this map lies in the possibility to conduct a comparative assessment of overall risk. Furthermore, I have calculated the monetary equivalent of overall risk in each of twelve competitiveness states. The comparative assessment along with the monetary equivalent of overall risk allow making reasonable administrative decisions on the development of the most effective programs of risk management. The obtained results have theoretical and practical importance and can be used firstly in the development of a methodology for assessing competition in the national and global energy markets. Secondly, these results can be useful for the development and improvement the effectiveness of risk management in energy companies. Further research can focus on developing a specific approach for the assessment of the actual economic capital of an energy company, specifying an indicator of economic losses in a case of default, etc.

As the global market for sustainable energy is growing, a trend towards the development of renewable energy sources (RES) is gaining prominence. Projects related to renewable energy are globally spread and find active government support in many countries. Despite similar trends in the Russian energy sector, its specific nature that is associated with the long-term development of traditional energy and large-scale power engineering projects creates many barriers to RES development. The article presents an interpretation of the competitiveness of Russian energy companies in terms of renewable energy development. The author presents a classification of risks based patterns that have been identified. Hypotheses about risk distribution along the stages of the life cycle of RES projects based on expert assessment are considered. The results of the study will be used for developing models and practical assessment of the competitiveness of Russian energy companies in terms of RES while taking into account the uneven distribution and varying quality characteristics of risks.