ASSESSMENT OF THE COMPETITIVENESS OF ENERGY COMPANIES IN THE CONTEXT OF FORMING AN EFFECTIVE DEVELOPMENT STRATEGY

Abstract

The article is devoted to a comprehensive analysis of the competitiveness of Ukrainian energy enterprises under the conditions of electricity market transformation and the deepening integration into the European energy space. It reveals the key stages of sectoral reform, which include the unbundling of generation, transmission, distribution, and supply activities, as well as the establishment of a competitive market model in accordance with the requirements of the EU Third Energy Package. Modern trends in the energy market are examined, including the growing role of independent electricity producers, the expansion of renewable energy sources, and the digitalization of operational and managerial processes. It is noted that enterprises’ digital integration and the implementation of intelligent monitoring and management systems align with global trends aimed at improving efficiency and reducing operating costs, which is confirmed by international comparative studies. Particular attention is given to the development of an integrated model for assessing competitiveness based on a system of financial, production, managerial, and market indicators. It is substantiated that the standardized characteristics of energy products make the use of traditional qualimetric methods impossible, while the subjectivity of rating approaches limits their analytical value in a sector characterized by high regulatory and technological complexity. The proposed model includes such key indicators as the financial autonomy ratio, absolute liquidity ratio, return on sales, labor productivity, capital productivity, and the level of market service delivery. Their application makes it possible to conduct an objective comparison of energy-generating companies, identify their strategic reserves, and determine the factors that most significantly influence the formation of competitive advantages. It is emphasized that the sustainability and performance of energy enterprises in the medium and long term depend on their ability to modernize infrastructure, attract investment, enhance managerial efficiency, and implement digital transformation of production processes. The findings of the article highlight that comprehensive competitiveness assessment serves not only as an analytical tool but also as a foundation for developing effective development strategies aimed at strengthening operational reliability, innovativeness, market resilience, and the state’s overall energy security.