Utjecaj regulirane imovine na uspješnost poslovanja distributera plina

professional thesis

• Title (english): Impact of regulatory assets on business performance of gas distrubutor
• Author: Dean Gnjidić
• Mentor: Katarina Žager (mentor)
• Committee member: Sanja Sever Mališ (predsjednik povjerenstva)
• Committee member: Katarina Žager (član povjerenstva)
• Committee member: Jurica Šimurina (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; Zagreb
• Defense date and country: 2024-12-10, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics

Abstract

Uvođenje ekonomske regulacije u određene energetske djelatnosti potaknuto je potrebom kontrole nad djelovanjem „prirodnih monopola“ koji su bitni za razvoj tržišnog natjecanja i zaštitu interesa krajnjih kupaca. Sektor regulirane energetske djelatnosti distribucije plina je jedan od takvih monopola koncesijskog tipa. Regulator zadanim kriterijima i metodologijama osigurava cijenu usluge krajnjim kupcima koja je poticajna za korištenje, a u isto vrijeme osigurava distributerima povrat investicije u reguliranu imovinu tj. imovinu koja služi funkciji regulirane djelatnosti.
Osnovni cilj istraživanja ovog specijalističkog sveučilišnog rada je analizirati postojeći model te utvrditi odnos između regulirane imovine poduzeća, posljedične veze na poslovanje operatera plinskog distribucijskog sustava i utjecaja regulatora. U okviru istraživanja koristila se metoda klasifikacije, analize i sinteze te naposlijetku metoda komparacije javno dostupnih podataka iz poslovanja reguliranih subjekata u distribuciji plina kao i regulatornih odluka i podataka vezanih za predmet istraživanja.
Nekoliko je modela ekonomske regulacije na snazi, no poticajna regulacije maksimalno dozvoljenog prihoda uz korištenje CAPM modela je najvažniji i koristi ga najviše zemalja EU.
Radom su obuhvaćena dva regulatorna razdoblja i regulirana imovina distributera plina u Republici Hrvatskoj te utvrđeno da je uspješnost njihovog poslovanja u direktnoj korelaciji s iznosom regulirane imovine. Osim prinosa na reguliranu imovinu utvrđena je i velika važnost dozvoljenih operativnih troškova određenih od strane regulatora na poslovanje distributera plinom.
Zaključuje se da u slučaju nisko postavljenih dozvoljenih operativnih troškova ili u uvjetima većih inflatornih poremećaja na tržištu, istovremeno s padom distribuiranih količina plina bez mogućnosti fleksibilne izmjene tarifnih stavki, poslovanje distributera plina neće biti zadovoljavajuće i uz moguće adekvatne prinose na reguliranu imovinu.
Ujedno su radom dane projekcije budućeg poslovanja i prijedlozi mjera za poboljšanje uspješnosti poslovanja distributera plina.

Abstract (english)

Economic regulation in energy activities is motivated by the need to control the activities of "natural monopolies" which are essential for the development of market competition and the protection of the interests of end customers. Regulated energy activity of gas distribution is one of such concession-type monopolies. The regulator, with the given criteria and methodologies, ensures the incentive service price to the end customers, and at the same time provides the distributors with a return on investment from regulated assets, i.e. assets used for performing regulated activity.
The main goal of the research of this specialist post-graduate work is to analyze the existing model and determine the relationship between the regulated assets of the company, connection to the operations of the gas distributor and the impact of the regulator.
The research methods in this work were classification, analysis and synthesis, and finally the method of comparison of publicly available data from the business operations of regulated entities in gas distribution as well as regulatory decisions and data related to the subject of research. There are several models of economic regulation in force, but the incentive regulation of maximum allowed revenue using CAPM model is the most used and important and in all EU countries.
The paper covers two regulatory periods and the regulated assets of gas distributors in the Republic of Croatia, and it was established that the success of their business performance is directly correlated with the amount of regulated assets. In addition to the return on the regulated assets, significant importance of the allowed operating costs determined by the regulator was determined. It is concluded that in the case allowed operating costs are low or in conditions of major inflationary disturbances in the market, simultaneously with a drop in distributed gas volumes without the possibility of flexible changes in tariff items, the business of gas distributors will not be satisfactory even with possible adequate returns on regulated assets. At the same time, the work provides projections of future business and proposals for measures to improve the performance of gas distributors.

• Keywords: ekonomska regulacija; regulirana imovina; distribucija plina; uspješnost poslovanja
• Keywords (english): economic regulation; regulatory assets; gas distribution; business performance
• Language: croatian
• URN:NBN: urn:nbn:hr:148:368580
• Study programme: Title: Business Administration- MBA; Study programme type: university; Study level: postgraduate specialist; Academic / professional title: sveučilišni/a specijalist/specijalistica poslovnog upravljanja-MBA (sveučilišni/a specijalist/specijalistica poslovnog upravljanja-MBA)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Open access
• Created on: 2024-12-18 13:58:50