The SWOT-analyzing as a key stage in process of economic risks management at power supply network companies

Economy and management of the enterprise

Reliability of energy supplies is one of the most important parts of life sustenance and effective manufacturing sector functioning in the context of modern society. Maintaining a high level or reliability is a guarantee of stable functioning of every part of the energy system but it is impossible for the power company to completely protect itself from a power failure. Therefore, the task of risk management and economic risks management in particular is becoming important. There are some steps from the process of risk-management and its characteristics in this article. SWOT-analysis is a simple, accessible, but, at the same time, effective tool for factor analysis and management decision-making in the absence of a full-scale centralized system of risk management in Russian energy companies. The article highlights the strengths and weaknesses of the Russian power supply network companies in their internal environment, identifies the opportunities and threats that the external environment carries. We have carried out SWOT-analysis of economic risks of power supply interruption with their rating assessment, ranking the strength of the influence of each factor and their pair interaction. Based on the results of their numerical assessment, a matrix of strategic decisions for power supply network companies was formed, and recommendations for risk management actions were proposed. Particular attention is paid to the recommendations by which the power supply network companies can reduce or prevent the occurrence of risks associated with the emergence of threats in the external environment, taking into account the weaknesses of their activities. The importance of various types of insurance of risks for electric grid enterprises was noted in connection with the high probability of damage to various sections of the power grid.