In the current model, electricity is produced centrally and distributed to meet the demand of the final consumers. However, this model is undergoing some changes as a result of the growing importance of the prosumer market, the development of renewable energy sources, the evolution of artificial intelligence and the Internet of Things.
TAURON Group’s new businesses focus on various areas of activity (e.g., e-mobility program, Internet program, energy efficiency, distributed cogeneration, energy storage, smart home, smart city). To this end, in the short term, TAURON Group, using its competences, human, technical and organizational resources as well as customer relations, is conducting extensive research and development as well as innovative activities to pave the way to new revenues.
TAURON Group’s new businesses are associated both with the research and development ecosystem, but also with the mergers and acquisitions process. Such an approach not only allows for developing proprietary ideas, but also for taking advantage of the experience of external entities. Income based on the traditional power sector model has limited growth potential, therefore it is necessary to develop new activities.
In the medium and longer run, it is assumed that changes to the operating model of the energy industry will take place as it will be extending its offering by adding new products and services, reducing the share of the traditional product, which is the production of electricity from conventional sources. Technologies related to the use of green hydrogen for electricity storage are raising high hopes. The new businesses and innovations will prepare TAURON Group for the market challenges.
It is assumed that the share of income from the new businesses will not be of key importance for many years to come, due to the very high value of the core operations related to the fuel-energy-distribution chain, but this value will be gradually rising. TAURON Group’s aspiration is for new businesses to bring the Group maximum possible benefits arising from the already appearing and coming changes.