European Sustainable Development: Assessment of the Degree of Expenditure on Innovation in Power Companies in Poland

Purpose: Sustainability is an idea that has contributed to a shift in thinking about energy markets. It is already known that one of the ways of achieving development is introducing new technological solutions/innovations. Therefore, the aim of this paper is to present the results of a study of energy enterprises in Poland - DSOs and TSOs in terms of their innovativeness. Design/Methodology/Approach: Following the documentary research, the main tool used in this research is index analysis, diagnosis of the current state, and detailed analysis of development trends. Descriptive statistics and single attribute value function (SAVF) were used to assess the relationship between energy production and innovation expenditures. Findings: The results show that in Poland the relationship between innovation expenditures and energy production is non-existent. This may be due to the structure of energy production, which in Poland is based on coal. The evaluation of innovativeness of energy companies indicates that the dynamics of innovativeness in energy companies is still unsatisfactory. Practical Implications: Current expenditures on innovation are still insufficient for an efficient energy transformation of Poland. The presented research results can be used to create new policies and development strategies on the dynamics of innovation in energy companies in Poland. Originality/value: Presented research results have both research and practical value in relation to the current level of expenditures on innovation in the power sector, comparing strategic documents and policies with practical actions taken in electric power enterprises in Poland in terms of innovation and discussing the next steps necessary to achieve the objectives of the European Green Deal to be the first climate-neutral continent in 2050.