Konstrukcja instrumentu zabezpieczającego przed niekorzystnym wpływem niekatastroficznego ryzyka pogodowego

In the world weather derivatives play an important role in securing companies from energy industry. That industry was a pioneer in the use of weather derivatives and their creation was a natural response to the demand for this type of protection against weather risk. The article aims are to answer the question whether the energy industry companies in Poland are also vulnerable to the negative impact of not catastrophic weather risk and how a hedge instrument, diminishing the effects of prevailing weather conditions and securing the revenues of the industry might look like-. Owing to the analysis of the obtained results, we can conclude that weather conditions have a significant impact on the revenues of power companies. It is therefore reasonable to consider the introduction of weather derivatives on the Polish market. This article presents theoretical constructs of weather derivatives on the stock market and outside it.