Impact of a possible environmental externalities internalisation on energy prices: The case of the greenhouse gases from the Greek electricity sector

The present paper is concerned with the impact of the internalisation of environmental externalities on energy prices. In this context, its aim is to quantify the external cost of greenhouse gases (specifically carbon dioxide) generated during electricity production in the thermal power plants in Greece and to estimate the impact on the electricity production cost and on the electricity prices of a possible internalisation of this external cost by the producers. For this purpose, this paper applies the EcoSenseLE online tool to quantify the examined externalities. This research finds that the calculated external cost is significantly high (compared to the corresponding production cost) mainly in lignite-fired power plants. Specifically, a possible internalisation of this external cost would increase the production cost by more than 52% (on average), which, in turn, would affect similarly the electricity prices. This finding could be important for decision makers in the electricity sector to develop strategies for emission reduction and to develop environmental and energy policies. The general limitation of the external cost methodology applies to this work as it uses the standard method developed for the Externe project. Similarly, the data limitations as well as assumptions related to the costs and exclusions/ omissions of cost elements affect the results.External cost Electricity prices Climate change Thermal power plants Greece

Energy Management Practices’ Determinants in Greek Enterprises

The implementation of energy management over recent decades has been considered to be particularly important for companies wishing to save energy resources, to tackle the issue of climate change, and, at the same time, maintain their competitive edge in an ever-changing environment. The main objective of this article is to identify and analyse all of those critical factors that may affect the implementation of effective energy management practices by Greek enterprises. A questionnaire survey was conducted to investigate the implementation of energy management in Greek enterprises. The survey was conducted between May and September 2016. Out of the 649 questionnaires sent, 132 were collected (a response rate of 20.3%). The implementation of energy management in Greek enterprises is affected particularly positively by the implementation of a structured and integrated energy management system as far as the main findings of the survey are concerned. The use of modern technology, the involvement of the employees, and the commitment of the senior management proved to be additional critical determinants in the implementation of energy management in the operation of businesses

The Environmental Strategy of Businesses as an Option under Recession in Greece

In recent years and mostly during the last two decades, the decisive role of the environment in the business administration field and business life in general has emerged. In the modern, fast changing, and highly competitive business environment, and even more so in the context of the recent economic crisis, businesses constantly struggle to survive, trying to resolve problems and improve their performance and competitive advantage. Therefore, they must save and invest substantial sums of money to build strong infrastructure, to change procedures, and to produce environmentally friendly products. In view of the above, the current study attempted to examine the impact of environmental strategy on the growth of medium and large enterprises in all sectors in Greece, in a period of economic crisis. The study, carried out in February and March 2018, confirmed the positive correlation and the critical role of environmental strategy in the financial performance of Greek enterprises during this period of economic recession. Both eco-efficient practices and innovative practices lead to the creation of competitive advantage and, thus, to the improvement of the financial performance of a firm

Sustainable Development and Business Strategies: An Exploratory Study of Greek Businesses

The purpose of the present study is threefold: (a) it examines how Greek businesses perceive the concept of sustainability, (b) it investigates the implementation of sustainable development practices in Greek businesses, and (c) it examines if there is a correlation between sustainable development practices adopted by businesses and the competitive advantage of businesses. Furthermore, reference is made to concepts like sustainability, the Triple Bottom Line (TBL), and Sustainable Development Goals (SDGs). In addition, the TBL for sustainable business practices and the viability of measurement systems are examined. For this study, a survey was conducted using a questionnaire composed of five sections, which was addressed to Greek companies operating in various sectors. A total of 150 questionnaires were sent out and responses were received from 34 enterprises. An analysis of the data from field research confirms that Greek companies perceive sustainability as a transformation catalyst for businesses and have adopted sustainability practices. Furthermore, there is a moderate correlation between the economic and social pillar of sustainability and the competitive advantage of organisations. The study aims to provide a deeper understanding of factors that influence the adoption of sustainable practices in Greek enterprises