IMPROVING THE METHODOLOGY FOR ESTIMATING THE INVESTMENT ACTIVITY OF ENERGY COMPANIES
The paper presents directions for improving the methodology for assessing investment activi-ties of energy companies based on the characteristics of sectoral risks. Legal and regulatory sources and scientific literature on this issue were developed, and methodological tools were used to analyze and summarize the information received. The specific risks of energy companies were identified to take them into account when assessing investment activities. The enterprises of the power industry of Russia were selected as the object of research.
Keywords: investments, investment program, investment risk, power industry, industry characteristics, sensitivity analysis.
Highlights:
the features of investment activities in the field of energy were analyzed;
the possible risks that a tariff-regulated organization may face in carrying out investment ac-tivities were identified;
a methodology was developed for evaluating the sensitivity of investment projects, which al-lows for taking into account in the calculations the sectoral features of the objects of study;
practical recommendations were given to neutralize the identified risks.
Albina D. Stepanova, economist, JSC Samaragorenergosbyt; Olga A. Naumova, Candidate of Economics, Associate Professor, Department of Accounting, Analysis and Audit, Samara State University of Economics.