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Economic Development and the Audit Function in the Energy Sector

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (31 January 2022) | Viewed by 3821

Special Issue Editor


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Guest Editor
Faculty of Economics and Business Administration, Babeș-Bolyai University, 400591 Cluj-Napoca, Romania
Interests: audit; accounting; ethics; accounting profession; corporate governance

Special Issue Information

Dear Colleagues,

The entire energy sector is subject to profound change. Market liberalisation and re-municipalisation, the expansion of the internal European market, the growing share of renewable energy, decentralisation of production, high-cost pressure and ambitious climate change targets are the drivers of this change. They pose unprecedented economic and technical challenges for grid operators and suppliers. At the same time, they offer market players unprecedented opportunities. Fierce competition between the various energy suppliers and grid operators will continue in the coming years. In the face of increasingly dynamic funding and regulatory systems, business models are also subject to severe transformation and adjustment pressure. However, a recurring issue in the energy sector is trust. A future focus, compliance-wise, needs to be on preventing breaches through developing a culture of transparency and trust, placing integrity at the heart of compliance activities.  By implementing tools and technology that harness data and information, we can monitor and verify activity and identify potential breaches before they occur; this objective can be achieved through the audit function, thus contributing to the restoration of trust.

We are looking forward to receiving your contributions.

Dr. Melinda Timea Fülöp
Guest Editor

Manuscript Submission Information

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Keywords

  • Energy sector
  • Internal audit
  • Audit committee
  • Financial audit
  • Transparency
  • Corporate reporting.

Published Papers (1 paper)

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Research

22 pages, 3581 KiB  
Article
Economic Development Based on a Mathematical Model: An Optimal Solution Method for the Fuel Supply of International Road Transport Activity
by Melinda Timea Fülöp, Miklós Gubán, György Kovács and Mihály Avornicului
Energies 2021, 14(10), 2963; https://doi.org/10.3390/en14102963 - 20 May 2021
Cited by 4 | Viewed by 2103
Abstract
Due to globalization and increased market competition, forwarding companies must focus on the optimization of their international transport activities and on cost reduction. The minimization of the amount and cost of fuel results in increased competition and profitability of the companies as well [...] Read more.
Due to globalization and increased market competition, forwarding companies must focus on the optimization of their international transport activities and on cost reduction. The minimization of the amount and cost of fuel results in increased competition and profitability of the companies as well as the reduction of environmental damage. Nowadays, these aspects are particularly important. This research aims to develop a new optimization method for road freight transport costs in order to reduce the fuel costs and determine optimal fueling stations and to calculate the optimal quantity of fuel to refill. The mathematical method developed in this research has two phases. In the first phase the optimal, most cost-effective fuel station is determined based on the potential fuel stations. The specific fuel prices differ per fuel station, and the stations are located at different distances from the main transport way. The method developed in this study supports drivers’ decision-making regarding whether to refuel at a farther but cheaper fuel station or at a nearer but more expensive fuel station based on the more economical choice. Thereafter, it is necessary to determine the optimal fuel volume, i.e., the exact volume required including a safe amount to cover stochastic incidents (e.g., road closures). This aspect of the optimization method supports drivers’ optimal decision-making regarding optimal fuel stations and how much fuel to obtain in order to reduce the fuel cost. Therefore, the application of this new method instead of the recently applied ad-hoc individual decision-making of the drivers results in significant fuel cost savings. A case study confirmed the efficiency of the proposed method. Full article
(This article belongs to the Special Issue Economic Development and the Audit Function in the Energy Sector)
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