報告書番号

Y05001

タイトル（和文）

電気事業の経営戦略と組織戦略 -諸外国における電気事業の経験と教訓-

タイトル（英文）

Management and Organizational Strategies of Utility Companies -- Experiences and Lessons in Foreign Utility Companies--

概要 （図表や脚注は「報告書全文」に掲載しております）

競争に対応する電気事業の経営戦略とそれを実施するための経営組織のあり方を欧州電気事業の事例に基づき明らかにした。欧州における電気事業の事例研究から引き出すことのできる経営戦略に関する教訓は、もっとも成功しうる戦略は、コアコンピタンスに焦点を当てた戦略であるということである。そのような戦略はエネルギーに焦点を当てたもので、ノンコアに焦点を当てたものではない。また、経営組織については、再編コスト、成長戦略および競争環境や規制環境を考慮して選択されなくてはならい。

概要 （英文）

This paper investigates management and organizational strategies in response to electricity reforms mainly in Europe. We undertake this analysis using case studies of representative electricity companies as well as conducting theoretical analysis. The following findings which appear important can be induced from our analysis:1. Strategies to cope with competition are varied, as are their objectives. However, the most strategies can be identified as pursuing one of three objectives, i.e., vertical integration, horizontal integration and diversification.2. Concerning vertical integration, there is a tendency that generation and retail sectors are integrated into one company in order to hedge the risk of volatility in the wholesale prices. Also in Europe, M&A are decreasing after 2000 and synergy is not realized in many cases recently. Further, strategies of expanding into new and unrelated product ranges have not been successful. Cross-sell into gas establishes value compared to the cross-sell into other utility and non-utility services.3. The representative organizations to perform the objective of utility companies are functional organizations, profit centers and holding organizations. These organizations have both merits and demerits. For the decision of selecting the organization most decisive are reorganization costs, growth strategy and regulatory environments.4. Big utility companies, e.g., RWE、E.ON、EnBW and Vattenfall Europe can absorb the loss of scope of economies caused by the legal unbundling. However, for smaller utility companies, e.g., RheinEnergi and Stadtwerke D■ochsseldorf the loss of economies of scale is estimated bigger than the benefit of legal unbundling which makes enable for unbundled companies focus on specialized fields. Concerning the growth strategy, companies which prefer M&A instead of organic growth tend to adopt holding organization because restructuring the whole companies is not required. Also, regulatory environment is important for selecting the organization in countries in case some form of legal unbundling is required.5. Further, concerning the organization of the utility companies, integration of trading and wholesale selling, and of electricity and gas retailing are also observed.

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