The impact of energy transition on the changes to the energy company’s business model

Purpose: The article focuses on the issue of energy transition in relation to Polish entities operating in the energy sector. The aim of the article is to analyse and assess the scale of the changes in the business models of energy companies resulting from the transformation. Design/methodology/approach: The literature on the study of energy models and transformation has proposed theoretical frameworks to support energy transformation. They provide inspiration to examine the impact of energy transition on the business models of Polish traditional energy companies operating in the form of integrated capital groups. Three energy companies of the Polish energy sector, operating in the form of integrated capital groups – PGE, TAURON and ENEA – were selected for the study. The research used such methods as literature review and materials concerning the current situation and market trends in the energy sector as well as case study research. The research model uses the approach proposed by A. Osterwalder and Y. Pigneur, describing the rationale behind the way in which an organisation creates value and provides and profits from the value created. Findings: The article summarises the results of research devoted to the changes in the configuration of the business model of a traditional energy company in the context of building a new energy market structure, characterised by distribution of generation sources, fast-growing prosumerism, intelligence of solutions resulting from the innovative ICT technologies applied and virtualisation of the offered customer value. The research covered selected Polish energy companies operating within the structure of capital groups. Practical implications: The presented summary of the impact of the energy transition confirms that its presence triggers profound changes in the business model of the traditional energy company and its components. Originality/value: The article presents a synthesis of the regulatory, legal and market conditions shaping the scope and depth of the transformations in the energy sector. The article summarises a review of new business models in the power industry and defines directions of changes in the business model of an energy company, which were determined as a result of the research. The article also discusses a possible scenario for further restructuring and changes in the business model of an energy company in the light of governmental programmes for the transformation of coal production assets and hard coal mining.