Page 26 - InterEnergo - Annual Report 2020
P. 26

Interenergo                       Business report                                                                      Interenergo                       Business report

            Business report                                                                                                        Business environment analysis

            Strategic challenges and                                                                                               The COVID-19 pandemic, combined with rigorous      will depend on the course of the epidemic and the
                                                                                                                                                                                      severity of the containment measures, as well as
                                                                                                                                   health and protection measures, severely affected
            strategic goals                                                                                                        global economic activity in 2020. Strict measures to   the differences in the structure of the economies
                                                                                                                                   curb the spread of coronavirus have led to a marked
                                                                                                                                                                                      and the responses of each country’s internal
                                                                                                                                   decline in economic activity due to the cessation
                                                                                                                                                                                      policies. The recovery will be limited over the next
                                                                                                                                   of non-essential operations and hampered the       two years due to continual tackling of the epidemic
                                                                                                                                   accomplishments of other service activities.  To   and perpetual uncertainty, but will be supported by
            The current global reality is marked by responses   extent, also energy consumption. A huge financial                  lessen the negative effects of the pandemic, extensive   large financial packages agreed at national and EU
            to the pandemic and awareness of resilience to     stimulus as a pandemic mitigator and at the same                    packages of measures have been adopted at the      levels, increased public investment and state aid to
            such stress, climate change challenges, and a      time a potential cure for the deficit in global demand              national level and within the European Central Bank   businesses and residents, and monetary stimulus
            lack of response to the sustainability of the global   is looking for new investment opportunities and thus            and the European Commission to mitigate the loss of   policies. The rapid introduction and widespread use
            economic paradigm. While the pandemic has no       spilling over into the energy markets.                              economic and household incomes, provide liquidity   of an effective vaccine or rapid progress in treatment
            significant long-term impact on energy activity, as it   As  an  active  electricity  trader  and  investor  in        and support the recovery of economic activity.     will significantly improve the prospects for higher
            currently only complicates operations and indirectly   production resources, we are constantly adapting                These measures significantly mitigate the decline in   economic growth in 2021.
            negatively or in some cases even positively affects   to new realities. We are also trying to think of ideas           economic activity and are vital for restarting activity.  The biggest risk for the realization of the estimated
            the profitability of certain business models, the other   for reducing financial incentives for renewables.            With the gradual easing of containment measures    growth of Slovenia’s economic activity is related to
            two challenges are key to the direction of business   However, our strategy is based on the premise that,              in 2021, economic activity in Slovenia and globally   the epidemiological situation inside the country and
                                                               in the end, performance is what makes the difference                could begin to recover, but isn’t expected to return   the epidemiological situation in its important trading
            The EU’s commitment to medium-term CO  neutrality   between winners and losers. The foundation of a                    to pre-pandemic levels before 2022. The depth of   partners. Another important aspect is to gradually
            through policies has a direct impact on the structure   good performance is human capital, which achieves              the decline and the speed of recovery in 2021 and   and thoughtfully withdraw measures to mitigate the
            and development of energy. Policy directives to    extreme  effects  through  appropriate  personnel                   2022 will vary greatly from country to country and   effects of the epidemic. 2
            promote renewables and green technologies through   selection and good management due to team synergy.
            subsidies, CO  schemes, co-financing of hydrogen   For effective tactical implementation, modern tools
            technology development projects, etc. affect the   must be used, and that is where digitalization comes                Table: Estimation and forecast of GDP growth
            structure of production resources and, to a lesser   in.
                                                                                                                                     Real GDP growth rate in %                      2019          2020e         2021p         2022p
                                                                                                                                     Slovenia                                              3.20    -6.60         4.30           4.40
                                                                                                                                     Euro zone                                       1.30          -7.20         4.20           3.60

                                                                                                                                     Globally                                        2.80          -3.50         5.50           4.20
                                                                                                                                   Note: e – estimate, p – projection.

                                                                                                                                     Source: UMAR, Winter forecast of economic trends 2020.

            24    Integrated Annual Report 2020                                                                                                                                                       Integrated Annual Report 2020  25
   21   22   23   24   25   26   27   28   29   30   31